/EINPresswire.com/ -- CALGARY, ALBERTA -- (Marketwired) -- 08/11/16 -- Olympia Financial Group Inc. (TSX: OLY) today announced its operating and financial results for the three months ended June 30, 2016.

The unaudited condensed interim financial statements and notes, as well as management's discussion and analysis, are now available on SEDAR (www.sedar.com).

Results from Operations, include the following (compared to the three months ended June 30, 2015):

--  Total revenue, including interest earned as trustee and interest,
    decreased 3% to $10.29 million from $10.59 million due to a decrease in
    service revenue. This decrease was partially offset by an increase in
    interest revenue.
--  Service revenue decreased 5% to $8.62 million from $9.09 million,
    primarily as a result of decreases in trade volume and transaction sizes
    in the Foreign Exchange division.
--  Interest earned as trustee on monies held in trust and interest on
    Olympia's own cash increased 11% to $1.67 million from $1.50 million as
    a result of an increase in off-balance sheet arrangements under
    administration.
--  Direct and administrative expenses (excluding depreciation and
    amortization) decreased 1% to $8.77 million from $8.89 million, largely
    as a result of lower commissions and bonuses. This decrease was
    partially offset by an increase in costs incurred by the ATM division
    from an increase in business operations.
--  Other gains, net, increased 86% to $0.26 million from $0.14 million,
    mainly due to Olympia recording a $0.68 million refund after resolving
    its dispute with the Canada Revenue Agency and the receipt of $0.10
    million settlement in connection with a claim related to this matter.
    This was offset partially by a settlement loss of $0.50 million payable
    to a customer of Olympia's former Corporate and Shareholder Services
    division for loss of income, including legal costs.
--  Earnings before income tax decreased 6% to $1.47 million from $1.57
    million.

About Olympia Financial Group Inc.

Olympia Financial Group Inc. ("OFGI") conducts most of its operations through its wholly- owned subsidiary Olympia Trust Company, a non-deposit taking trust company. Olympia Trust Company is licensed to conduct trust activities in Alberta, British Columbia, Saskatchewan, Manitoba, Quebec, Newfoundland and Labrador, Prince Edward Island, New Brunswick and Nova Scotia. Olympia Trust Company administers self-directed registered accounts and offers foreign currency exchange services. OFGI also offers private health services plans through its wholly-owned subsidiary Olympia Benefits Inc. and operates an ATM business through its wholly-owned subsidiary Olympia ATM Inc.

OFGI's common shares are listed on the Toronto Stock Exchange under the symbol "OLY".

Contacts:
Olympia Financial Group Inc.
Rick Skauge
President and Chief Executive Officer
(403) 261-0900
(403) 265-1455 (FAX)

Olympia Financial Group Inc.
Vice-President
Finance and Chief Financial Officer
(403) 261-0900
(403) 265-1455 (FAX)

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