BANK OF MONTREAL TO LEAVE OIL AND GAS BANKING IN THE U.S.

Highlights

• The U.S. shale industry has been immensely affected by the COVID-19 pandemic which resulted in oil prices going down and decline in the demand

• BMO said this financial decision was made for an orderly wind-down of our non-Canadian investment and corporate banking energy business

• While several banks have decided to halt investment banking tied to U.S. oil and gas explorers, BMO was fa....