The hefty allowances and provisions taken by trucking lender BMO in the third quarter did not slow credit deterioration in the fourth, and those financial steps to protect the bank against bad debt continued to rise.
BMO is a leading lender to the trucking sector, both in Canada and the U.S. Its quarterly earnings report, and its breakout of data on its lending sectors, including transportation, provides insight into credit conditions among borrowers. The transportation sector at BMO is believed...