News Releases

In the aftermath of this summer’s record rainfall and devastating floods in Manitoba, BMO Bank of Montreal today launched a Financial Relief Program for its customers who will be impacted by the disaster.

“At BMO, we always stand behind our customers, through good times and bad, and we want to help our agricultural customers handle this unfortunate situation,” said John MacAulay, Vice President, Manitoba, BMO Bank of Montreal.

The BMO Bank of Montreal Flood Relief Program includes possible principal payment deferral and interest rate relief on operating loans as well as waiver of new loan application or renewal fees for customers currently in good standing. The program is specifically designed for producers affected by the flooding and those in related industries who will see their cash-flow in the coming months impeded given their dependence on a productive agriculture industry. The program will expire on October 31, 2006, giving producers suitable time to market a portion of next year’s crop.

“We invite our customers to visit their local branch to discuss their particular financial needs and to take advantage of this program,” added John MacAulay.

Since 1817, BMO Financial Group has believed in community reinvestment and corporate and social responsibility to the communities it serves. BMO Financial Group contributed more than $29 million in corporate donations, sponsorships and events in 2004, supporting thousands of communities, charities and not-for-profit organizations in Canada. BMO Bank of Montreal operates 32 branches in Manitoba.

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