News Releases

HALIFAX, December 29, 2009 – BMO Financial Group today reaffirmed its support for customers affected by the downturn in the Atlantic lobster fishery, and encouraged Canadians across the country to show their support by buying lobster this holiday season.

BMO recently stood by the industry with the provision of a loan to Minigoo Fisheries Inc., who will operate a lobster processing facility on Lennox Island, PEI. The facility will be the first lobster processing facility in Atlantic Canada to be wholly owned and operated by a First Nations group.

“BMO is committed to standing by our customers in both good times and in difficult ones,” said Paul Seipp, Commercial Banking Area Manager, BMO Bank of Montreal. “Many of our employees live and work in the community and have seen first-hand the effect the current downturn in the lobster fishery is having on neighbours, friends and family. We understand what they are going through. Our message to our customers, and even to customers from other financial institutions, is this: come in to see us for a conversation about your financial situation so we can help you through this difficult time.”

Seipp also called on all Canadians to support Canadian lobster fishers by making lobster a part of their New Year's festivities. “I encourage everyone to bring more lobster home. There's no better way to enjoy New Year's Eve than to have lobster. Prices have collapsed to a near 20-year low, and Canadian lobster fishers need your support. You'll be having a treat and helping out your fellow Canadians at the same time.”

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