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Bank of Montreal
Symbol BMO
Shares Issued 647,242,067
Close 2021-06-25 C$ 128.65
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Globe says BMO's White can hardly contain his glee

2021-06-28 07:16 ET - In the News

The Globe and Mail reports in its Saturday edition that Darryl White is gearing up for a postpandemic boom. The Globe's James Bradshaw writes that Bank of Montreal's chief executive officer says that with pent-up economic activity ready to break loose as vaccination rates rise and lockdown measures lift, the mood among the bank's managers is "more optimistic than people have been in their careers," Mr. White told The Globe. "We've never done this before," he says, about the unusual economic path to a recovery from the pandemic. "We've never had the spring coiled so tightly." Mr. White believes a roaring two-year rebound is beginning, with GDP growth estimated to be roughly 6 per cent in Canada and 7 per cent in the United States this year. Some of that is catching up on lost ground from the crisis. Meanwhile, hundreds of billions of dollars of extra deposits have built up on bank balance sheets, waiting for opportunities to be spent. Consumers are itching to book holidays and dine out, companies are coming up with new spending ideas, and the pipeline for potential mergers and acquisitions is bursting. "I mean, there's just so much liquidity," Mr. White says, adding, "I don't know how you keep a lid on it, frankly."

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