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BMO Acquires $3 Billion in Oil and Gas Loans From Deutsche Bank

Kiel Porter
BMO Acquires $3 Billion in Oil and Gas Loans From Deutsche Bank

Bank of Montreal has a acquired a portfolio of about $3 billion in energy loans from Deutsche Bank AG. "We are one of the leading energy investment banks in North America and we got there by continuously investing in our franchise to support our clients -- including by growing our lending portfolio with this acquisition," John Armstrong, deputy head of investment banking at BMO Capital Markets, said in an emailed statement. The book comprises investment-grade and subprime revolving credit lines to oil and gas companies.