Banks in Canada Step Up to Support Small Business

TORONTO, March 27, 2020 /CNW/ - Canada is in the midst of a public health emergency that has touched everyone. It has created volatility in our markets and impacts to our economy – and has created real stress for businesses. Small businesses are an economic engine of this country, and Canada's banks know that these businesses are particularly hard hit by the COVID-19 pandemic.

During this unprecedented time, Canada's banks have been working around the clock to bring much-needed relief to their customers across the country.

Banks are now working to effectively implement the direction announced by the federal government to support Canadian businesses, more details of which will be available in the coming weeks. Each bank will have more information to share with their small business customers in the weeks ahead, as specific plans are clarified by the federal government.

Once all details of the support program are finalized with the government, banks will update their websites with customer information about how to enrol and have their questions answered. For details about existing relief programs, customers are encouraged to visit banks' specific COVID-19 relief webpages for further information before calling or visiting their specific bank.

Due to the unprecedented volume of calls banks are experiencing, we appreciate Canadians' understanding as bank representatives continue to work very hard to respond to requests for relief.

For more information, please visit:

www.bmo.com/main/personal/bmo-branches-coronavirus-update

www.cibc.com/en/personal-banking/advice-centre/covid-19.html

www.nbc.ca/personal/notice.html

www.scotiabank.com/ca/en/personal/scotia-support/latest-updates.html

www.rbc.com/covid-19

www.td.com/ca/en/personal-banking/covid-19

About the Canadian Bankers Association

The Canadian Bankers Association is the voice of more than 60 domestic and foreign banks that help drive Canada's economic growth and prosperity. The CBA advocates for public policies that contribute to a sound, thriving banking system to ensure Canadians can succeed in their financial goals. www.cba.ca.

Canadian Bankers Association

Mathieu Labrèche

(416) 918-2777

mlabreche@cba.ca 

Bank media contacts:

BMO Financial Group

Paul Gammal

(416) 867-3996 

paul.gammal@bmo.com

CIBC

Tom Wallis

(416) 980-4048

tom.wallis@cibc.com

National Bank of Canada

Claude Breton

(514) 394-8644

Claude.breton@nbc.ca

RBC

AJ Goodman

(647) 286-4032

aj.goodman@rbc.com

Scotiabank

Laura Mergelas

(416) 285-2639

laura.mergelas@scotiabank.com

TD Bank Group

Julie Bellissimo

(416) 965-6050

julie.bellissimo@td.com

SOURCE Canadian Bankers Association

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