The weakening truck market had barely revealed itself in the quarterly earnings of major trucking lender BMO until its second fiscal quarter this year.
But the third-quarter figures released Tuesday show a significant deterioration in the credit standing of its thousands of trucking customers, with allowances, impairments and write-offs all climbing.
BMO’s data is for the quarter ending July 31 at the former Bank of Montreal. Its current book of business in the transportation group, which is more...