BMO Finalizes Sale of Transportation and Vendor Finance Units

BMO Financial Group has finalized the sale of its transportation and vendor finance businesses to investment firm Stonepeak. As part of the transaction, BMO transferred assets totaling approximately C$11 billion, representing roughly 75% of the portfolio associated with these divisions.

The divestment aligns with BMO’s broader strategy to streamline its operations and reallocate capital toward its core banking businesses. By exiting these specialized finance sectors, the bank aims to enhance its capital efficiency and focus on its primary commercial and retail operations.

The closure follows the terms previously disclosed by the company. BMO stated it will continue to work alongside Stonepeak to facilitate a transition period for affected clients and ensure service continuity.