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BRIEF-BMO Expects Continued Provisions, Impaired Loan Formations In Oil And Gas Portfolio For Next Two Quarters - Conf Call

Published 2020-08-25, 08:17 a/m
© Reuters.
BMO
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Aug 25 (Reuters) - Bank of Montreal BMO.TO :

* BANK OF MONTREAL EXPECTS TO SEE IMPAIRED LOAN LOSS RATE RISE TO A RATE IN THE 40S IN TERMS OF BASIS POINTS FOR THE NEXT FEW QUARTERS - CONF CALL

* BMO EXPECTS TO CONTINUED PROVISIONS AND IMPAIRED LOAN FORMATIONS IN OIL AND GAS PORTFOLIO FOR NEXT TWO QUARTERS - CONF CALL

* BMO SAYS ADEQUATELY PROVISIONED FOR END OF CONSUMER LOAN DEFERRALS- CONF CALL

* BMO EXPECTS PROVISIONS FOR PERFORMING LOANS TO DECLINE ‘QUITE SUBSTANTIALLY' OVER THE NEXT QUARTER OR TWO- CONF CALL

* BMO EXPECTS DELINQUENCIES OF 1% TO 2% ON CONSUMER LOANS WHOSE DEFERRALS HAVE ALREADY EXPIRED- CONF CALL

* BMO EXPECTS DELINQUENCY RATES TO BE BETWEEN 1% AND 5% OF TOTAL BALANCES OF ALL DEFERRED LOANS- CONF CALL

* BMO SAYS ABOUT 10% OF CONSUMERS WITH DEFERRED LOANS RECEIVING UNEMPLOYMENT BENEFITS, ‘LARGE PROPORTION' CONTINUING TO MAKE PAYMENTS- CONF CALL Further company coverage: BMO.TO

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