BMO says 1.7% of expired commercial loan deferrals showing defaults/delinquency
Reuters
Published Sep 30, 2020 12:38PM ET
TORONTO (Reuters) - Only about 1.7% of Bank of Montreal's (TO:BMO) commercial loans whose pandemic-related repayment deferrals have expired are in default or are delinquent, executives said on Wednesday.
Outside of industries like hospitality, migration of performing commercial loans to impaired status is low, and is expected to remain that way, executives of Canada's fourth-largest lender said at a webcast investor event.
BMO is "cautiously optimistic" about commercial real estate lending, where the bank is seeing low impairments and loan-loss provisions, and about 90% of properties are continuing to receive rent payments, they added.
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Written By: Reuters
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