#Breaking: Bank of Montreal is shutting its retail auto finance business as the bank shifts its resources to other areas

Bank of Montreal is shutting its indirect retail auto finance business, which will result in job losses, as the bank shifts its resources to other areas.

“By winding down the indirect retail auto finance business, we have the ability to focus our resources on areas where we believe our competitive positioning is strongest,” the bank said in an emailed statement on Sunday.

Read more: https://www.bloomberg.com/news/articles/2023-09-17/bank-of-montreal-to-close-retail-auto-finance-unit-amid-refocus?utm_content=markets&utm_source=twitter&utm_medium=social&cmpid%3D=socialflow-twitter-markets&utm_campaign=socialflow-organic#xj4y7vzkg