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Bank of Montreal said Friday it plans to deploy the new capital over 10 years to sectors it considers “critical” to Canada’s economic security and resilience. The capital could come through bank lending, debt capital markets activity and public equity raises, it said in a release. (The Logic)
Talking point: BMO said the financing could support projects referred to the Major Projects Office, as well as initiatives tied to Canada’s electricity strategy, sovereign AI, defence and the oilsands. It will target electricity and energy infrastructure, transportation, mining and critical minerals, AI computing, defence and security, and oil and gas. The commitment comes as Canada’s biggest banks direct more capital toward sectors prioritized by Ottawa ahead of the Canada Investment Summit on Monday. This week, RBC launched a $1.4-billion fund targeting Canadian technology companies, while CIBC has committed $2 billion over five years to defence and dual-use businesses.
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