KOHO Bank seeks federal banking charter

Summary#

15391326 Canada Inc. (a wholly owned subsidiary of KOHO Financial Inc.) has announced that it will apply for letters patent to continue as a bank under the Bank Act. The company says it would operate in Canada as KOHO Bank / Banque KOHO; anyone who objects must write to Office of the Superintendent of Financial Institutions (OSFI) by April 27, 2026. The notice was published on March 7, 2026.

What it does#

• Tells the public that 15391326 Canada Inc. intends to apply to the federal government to become a Schedule I bank under the Bank Act, using the name KOHO Bank (English) and Banque KOHO (French).
• Gives the official place and deadline to submit written objections to OSFI: send to Office of the Superintendent of Financial Institutions (OSFI), 255 Albert Street, 12th Floor, Ottawa, Ontario K1A 0H2 on or before April 27, 2026.
• Notes that publication of the notice does not mean approval; the final decision depends on the normal application review and the Minister of Finance.

Who's affected#

• People who already use or plan to use services from KOHO Financial Inc. / KOHO Bank.
• Competing financial firms and fintech companies watching changes in the Canadian banking market.
• Regulators and anyone who wishes to file an objection with OSFI by the deadline.
• It is not yet clear what specific customers, products, or protections would change if the application is approved.

Why it matters#

• If approved, the company would be able to operate as a federally regulated Canadian bank under the Bank Act, which could change the way its financial products are offered and overseen.
• That could matter to customers (changes in services or regulation), to competitors (market structure), and to people tracking how fintechs expand into traditional banking.
• The notice is an early, public step in the process — it does not mean the change has happened.