TORONTO, Oct. 14, 2020 /CNW/ - Canada's agriculture industry is evolving, with continual advancements in efficiency and sustainability influenced by changing market dynamics and the ongoing effects of COVID-19. The agri-food industry is also vital to Canada's economy, accounting for over 4 per cent of Canada's GDP in 2019. To support businesses operating in the agriculture industry more effectively, BMO Bank of Montreal has introduced an expanded BMO Agriculture & Agribusiness Banking team.
This specialized team will provide end-to-end support for agriculture and agribusiness clients across the country. The new group is a national team of agriculture banking specialists – team members with backgrounds in agriculture combined with technical finance expertise – with a deep understanding of local market challenges and opportunities. This team is well positioned to provide comprehensive solutions for all types and scale of operation, including the bank's digital and treasury payment capabilities. These solutions have been built specifically for the Agriculture sector to help clients obtain the banking they need, quickly and conveniently.
"Canada's agriculture producers continue to invest heavily in their operations in order to feed Canadians and the world," said Aaron Goertzen, Senior Economist, BMO Capital Markets. "Over the past two decades, productivity in the agriculture sector has increased five times faster than in the Canadian economy as a whole – and that trend shows little sign of letting up."
"BMO has been supporting farmers and the agriculture industry for over 200 years – many of the bank's first customers were farmers – and we recognize the importance of the industry and its importance to the Canadian economy," said Lynda Taylor, Head, Agriculture and Agribusiness, BMO Bank of Montreal. "We are proud to be an industry leader amongst Canada's major banks, and this expanded group gives us the chance to take an even more focused approach to the industry. We are local partners; our team of agriculture experts will be there for clients, from coast to coast, supporting all facets of the Canadian Agriculture sector through COVID and beyond."
The group will also work closely with partners in Retail, Wealth, and Capital Markets to support businesses in this segment with a full range of wealth and banking products and services.
To learn more about how BMO is supporting agriculture businesses, visit: https://commercial.bmo.com/en/industry-expertise/agriculture/.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $974 billion as of July 31, 2020, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
SOURCE BMO Financial Group