BMO Financial Group to Sell Transportation-, Vendor-Finance Businesses to Stonepeak

May 12, 2026 - 05:00

BMO Financial Group has announced plans to sell its transportation and vendor-finance businesses to the investment firm Stonepeak. The deal involves a combined loan and lease portfolio in the United States and Canada that was valued at roughly $10.6 billion as of the end of March. The move is part of a broader strategy by the Canadian bank to streamline its operations and focus on its core banking services.

The sale includes BMO's equipment finance and leasing operations, which serve a range of industries from transportation to manufacturing. By offloading these non-core assets, BMO aims to sharpen its attention on its main retail and commercial banking businesses, as well as its capital markets division. The transaction is expected to close later this year, pending regulatory approvals.

Stonepeak, a firm specializing in infrastructure and real assets, will take over the portfolio and the associated teams. For BMO, the sale frees up capital that can be redirected toward growth areas. The bank has been reshaping its footprint in recent years, including a major expansion into the U.S. market through its acquisition of Bank of the West. This latest divestiture continues that trend of simplification, allowing BMO to reduce complexity and focus on what it sees as higher-return opportunities.