BMO sets aside record C$1.5bn for loan losses
Net write-offs reach highest level in over two decades, exceeding early pandemic levels
Bank of Montreal (BMO) allocated C$1.5 billion (US$1.1 billion) in provisions for credit losses (PCLs) in the three months ending October 2024, the most on record for a single quarter.
The latest provision represents a 68.1% increase from the C$906 million set aside in the previous quarter and surpassed the previous record of C$1.1 billion allotted during the February-April 2020 period.
A large
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