Olympia Financial Eyes Federal Trust Status

Olympia Financial (TSE:OLY) has released an update.

Olympia Financial Group Inc. has announced that its subsidiary Olympia Trust Company is applying to become a Federal trust company in Canada, a move that could expand its business opportunities, particularly in Ontario, the country’s largest financial market. The transition is contingent upon approval from the Canadian Minister of Finance and the Superintendent of Financial Institutions. Olympia operates primarily through Olympia Trust, offering services like self-directed registered plan accounts and corporate trust, as well as currency exchange and global payment solutions.

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