All operations falling within the scope of activities of a fiduciary company. The company may also carry out, either on its own account or on behalf of third parties, all commercial operations, participations, movable or immovable property in Switzerland and abroad, directly or indirectly related to its corporate purpose or likely to contribute to its realization, and may be interested, in any form, in all companies, excluding all real estate transactions in Switzerland not exclusively used for commercial purposes. The company may create subsidiaries and branches in Switzerland or abroad. It may grant loans or guarantees to associates or third parties.