Bank of Montreal Says No Rise in Delinquencies after Oil Slump

Bank of Montreal's chief executive said the lender was not seeing increases in delinquencies among clients in the energy sector and forecast the oil price slump would result in restructuring rather than failures.

 

"We're not seeing increases in delinquencies yet. The story of the oil patch is much more a story of restructuring than it is one of failure and default. That means the strongest companies are going to buy weaker companies," Bill Downe said in an interview after the bank's annual meeting.