Quebec politicians say Montreal is ‘logical’ choice to headquarter new defence bank

MONTREAL — A group of Quebec politicians are pitching Montreal as the “logical” choice to headquarter a new multinational defence bank, while downplaying whether Quebec referendum talk could hurt the city’s bid.

Quebec Economy Minister Bernard Drainville told reporters today that Montreal is the natural choice to host the new bank because of its strong financial and defence industries and because it hosts dozens of international organizations.

Montreal Mayor Soraya Martinez Ferrada touted the city’s skilled workforce, its universities and the fact that many citizens speak multiple languages.

The federal government announced on April 29 that Canada has been selected to host a multinational bank that would provide financing for defence projects by NATO members and allies.

Toronto, Ottawa, Vancouver and Montreal are all competing to be the host city for the Defence, Security and Resilience Bank.

The politicians mostly declined to comment on a La Presse report that Toronto officials have been lobbying for their city by raising the threat of a potential Quebec sovereignty referendum.

Martinez Ferrada cited a recent multibillion-dollar deal between AirAsia and Mirabel, Que.-based Airbus Canada as proof that companies aren’t shying away from investing in Quebec.

This report by The Canadian Press was first published May 8, 2026.

The Canadian Press