Hey kids! Did you know that big banks lend money to trucking companies? Recently, a bank named BMO shared some interesting news about the trucking industry's finances. It looks like things are getting a little better!
Basically, BMO keeps track of how much money trucking companies might not pay back. This is like when you borrow a toy and don't return it – the bank needs to account for this possibility.
- Trucking companies are having fewer problems paying back loans.
- The amount of money BMO expects not to get back is going down.
- This is good news because it means the trucking industry might be healthier.
| Item | Amount (in millions of US dollars) |
|---|---|
| Bad loans (Q1 2025) | $288.5 |
| Bad loans (Q4 2024) | $329 |
| Money set aside for potential losses (Q1 2025) | $61 |
| Money set aside for potential losses (Q4 2024) | $68 |
Remember, this is just one bank's view. The trucking business is complicated, but this news suggests things might be improving!
