AllPennyStocks.com BMO commits $70 billion in new spending to help build Canadian industry
This section contains press releases and other materials from third parties (including paid content). AllPennyStocks.com has not reviewed this content. Please see our disclaimer.

BMO commits $70 billion in new spending to help build Canadian industry

The Bank of Montreal said its planned capital mobilization is expected to take place through bank financing, debt capital markets and raising public equity.

Bank of Montreal says it will spend up to $70 billion in new capital over 10 years in sectors it considers critical to Canada’s economy , including energy , transportation , mining , defence and artificial intelligence .

“Building Canada has always depended on bold ideas backed by capital,” chief executive Darryl White said in a statement on Friday. “The opportunities before us today in these critical economic sectors are the latest chapter in that story.”

Canada’s biggest lenders are promising to spend billions of dollars in sectors that are supposed to play a key role in boosting the country’s economy ahead of Prime Minister Mark Carney’s Canada Investment Summit next week that will bring together global investors, Canadian executives and public-sector representatives.

Canadian Imperial Bank of Commerce on Thursday committed to spending $2 billion to help small and medium-sized defence-related businesses grow, while Royal Bank of Canada on Wednesday announced a $1.4-billion initiative to invest in Canadian technology companies.

BMO said its planned capital mobilization is expected to take place through bank financing, debt capital markets and raising public equity.

• Email: [email protected]

Other Penny Stock Movers

This Critical Minerals Explorer Just Found Where to Look Next
This Cannabis Microcap Just Bought Its Way Into Two of Europe's Biggest Markets
BC Copper-Gold Explorer Surges 40% on Maiden Drill Visuals
Most Popular
{{ index + 1 }}
AllPennyStocks.com Favorites


Back to Top