Canada’s only entrepreneur bank shows growth
Posted Aug 24, 2016 7:22 am.
Last Updated Aug 25, 2016 9:25 am.
This article is more than 5 years old.
The Business Development Bank of Canada has released its fiscal results for 2016.
Michael Denham, the president and CEO of Canada’s only bank devoted exclusively to entrepreneurs, says he’s proud of the BDC’s performance.
“Why I find this important is it really speaks to the level of activity and quality of projects that entrepreneurs in the country are looking to finance, so our growth is good news because it reflects the vibrancy and growth of entrepreneurs here in Canada,” he said.
Over the 12 month period that ended March 31, the BDC committed $4.8-billion in loans to its financing clients, and its total portfolio now stands at $26-billion.
In November, the bank, in conjunction with ATB Financial, announced an extra $1-billion in loans available for Alberta entrepreneurs, in an effort to reduce the shock of low oil prices on the provincial economy.
