Olympia Financial Group Inc. Reveals First Quarter 2024 Performance

Olympia Financial Group Inc. (“Olympia”) (TSX: OLY) has reported a 10% increase in total net earnings and comprehensive income for the three months ended March 31, 2024. The company’s total revenue also saw a 9% increase to $25.84 million, with service revenue up 3% and trust, interest, and other income up 15%.

The growth in revenue was mainly attributed to an increase in trust income in the Investment Account Services division, as well as higher interest rates on trust fund placements made over the previous 12 months. Despite a 6% increase in direct and administrative expenses, Olympia’s basic and diluted earnings per share attributable to shareholders increased by 10% to $2.39 per share.

Olympia Financial Group Inc. conducts most of its operations through its subsidiary Olympia Trust Company, which is licensed to conduct trust activities in several provinces across Canada. The company also offers currency exchange and global payment services through its subsidiary Olympia Currency and Global Payments Inc., as well as private health services plans and information technology services through Olympia Benefits Inc.

Investors and stakeholders can access the unaudited condensed interim financial statements and management’s discussion and analysis on SEDAR. More information on Olympia’s stock, financials, press releases, and governance can be found on their investor relations website.

For further information, interested parties can contact Olympia Financial Group Inc. directly.