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  • IMD predicts heavy rainfall in Rajasthan, MP and northeast; AQI improves in Delhi after downpour

    Source: Government of India

    Source: Government of India (4)

    Several parts of India are expected to receive heavy to very heavy rainfall over the next few days. The India Meteorological Department (IMD) has forecast continued intense precipitation over eastern Rajasthan and Madhya Pradesh between July 29 and 31, with isolated locations in western MP likely to experience extremely heavy rain on Tuesday.

    States in the northeast, including Arunachal Pradesh, Assam, and Meghalaya, are also expected to witness heavy rainfall over the next seven days, with activity likely to intensify from August 1 onwards. Meanwhile, rainfall is expected to reduce gradually over the southern peninsula over the next six to seven days, and over central India starting August 1.

    In the past 24 hours, extremely heavy rainfall (exceeding 21 cm) was recorded in isolated areas of western Madhya Pradesh and Himachal Pradesh. Heavy to very heavy showers were also observed in parts of eastern Rajasthan, Punjab, eastern Madhya Pradesh, Bihar, Jharkhand, sub-Himalayan West Bengal & Sikkim, and Mizoram. Isolated places in the ghat areas of central Maharashtra, Uttarakhand, Uttar Pradesh, Haryana, Gujarat, Gangetic West Bengal, Assam, and Arunachal Pradesh also received heavy rain.

    Weather forecast for Delhi-NCR

    In Delhi-NCR, the weather is expected to remain generally cloudy from July 29 to August 1, with light to moderate rain and occasional thunderstorms and lightning.

    On Tuesday, Delhi-NCR received heavy rain in the morning which led to improvement in the air quality index (AQI).

    In its weather report for Delhi-NCR, IMD predicted at isolated places on Tuesday, with maximum temperatures expected to range between 29°C and 31°C. The following days will see similar weather, with maximum temperatures staying below normal by 2 to 5 degrees Celsius and minimum temperatures hovering between 23°C and 26°C.

    By August 1, the capital may experience only very light to light rainfall, with skies turning partly cloudy. Temperatures are projected to rise slightly, with maximums between 33°C and 35°C, though still remaining below the seasonal average. Winds will predominantly be from the southeast, shifting gradually to southwest and northwest directions through the day.

  • MIL-OSI United Kingdom: Talks, music and more in store from Mayor’s Charity event programme

    Source: City of Winchester


    A host of varied events are taking place in support of the Mayor of Winchester’s 2025/6 selected charities. 

    Tickets are now on sale for the next two events, a talk in Abbey House and a lunchtime Ukrainian classic music concert. Proceeds will benefit the three current Mayoral Charities: Trinity Winchester; Home-Start Winchester; and WinACC (Winchester Action on Climate Crisis). 

    The talk, which will take place in the Mayor’s official residence Abbey House on Friday 8 August at 7pm, is entitled The French Prisoners of Alresford and the Hampshire Parole Towns.

    It will be given by former mayor Russell Gordon-Smith, who will delve into the history of the Alresford tombs of five French officer prisoners of war – four officers and one military wife – who lived for a period of time in the small district town.

    Former mayor Cllr Russell Gordon-Smith beside one of the graves   

    It will also provide some background on the Napoleonic wars and the workings of the ‘parole’ system, including life in the prison hulks and in prison camps.

    The classical music concert, which has been organised with the Winchester Ukrainian Cultural Association (WUCA), will take place in The United Church, Jewry Street, on Friday 29 August at 12pm.

    The programme includes works by Ukrainian and international composers, performed by Volodymyr Vasylenko (accordion), Liliya Solomonova (piano), Marharyta Dorosh (cello), and Ava Solomonova-Satchwell (vocal).

    Events later in the season include: Life in Quizzing – a talk by local champion quizzer – and former Egghead – Kevin Ashman; a Murder Mystery evening; an Agatha Christie evening; a jazz piano concert; Burns Night; the popular annual Quiz Night; a Pie & Mash night; and much more.  

    The Mayor of Winchester Cllr Sudhakar Achwal: “We have already enjoyed fun events in aid of my selected Mayoral Charities, including a family scavenger hunt, and I am so looking forward to the rest of the programme – it really does have something to offer to everyone.  

    “The Mayoral Charities each do such excellent work in our local communities and these events are a fantastic way to enjoy yourself whilst also offering valuable support to three wonderful and worthy district charities.”

    Tickets for all official Mayoral Charity events will be available, as they are released, from the official Mayor of Winchester Ticketsource site. 

    MIL OSI United Kingdom –

  • MIL-OSI Russia: The first defenses of candidate dissertations took place in the Dissertation Council for Technical Sciences of the NSU Faculty of Information Technologies

    Translation. Region: Russian Federal

    Source: Novosibirsk State University –

    An important disclaimer is at the bottom of this article.

    The first two certificates of awarding academic degrees were presented at the Dissertation Council for Technical Sciences Faculty of Information Technology, Novosibirsk State University. Both PhD theses are devoted to computational linguistics: Dmitry Morozov developed a system for assessing the complexity of text using machine learning methods on the example of the Russian language, and Davlater Mengliev developed a hybrid algorithm for recognizing named entities in the Uzbek language. In August, another PhD thesis will be defended, which is devoted to the application of mathematical modeling methods in geophysics.

    — We note the high demand for the Scientific Council for Technical Sciences created at our faculty. Its requirements for dissertation defenses are less formalized than those of the Higher Attestation Commission (HAC), but it sets higher requirements for the quality of publications. Due to these circumstances, our Council will be in demand by a number of employees of both scientific organizations and high-tech companies, for whom the procedure for defending dissertations established by us will be more convenient, but one should not assume that it is simple. This can be confirmed by our first two applicants, who submitted all the necessary documents to the Council and successfully completed all the established and strictly regulated procedures, spoke several times at seminars in front of the scientific community, received high marks for the quality of their work from specially created commissions with the involvement of experts from our Dissertation Council and external experts from several regions of our country and neighboring countries. We are glad that Dmitry Morozov and Davlater Mengliev successfully passed all these tests and their PhD diplomas have the same status as diplomas issued by the Higher Attestation Commission, said Mikhail Lavrentyev, Dean of the NSU Institute of Information Technologies and Corresponding Member of the Russian Academy of Sciences.

    Head of the Department of Mathematical Modeling of the Faculty of Mechanics and Mathematics of NSU, Professor of the Department of Informatics Systems and the Department of General Informatics of the Faculty of Information Technologies of NSU, Doctor of Technical Sciences Vladimir Barakhnin noted that it is no coincidence that the first two defenses of dissertations for the degree of candidate of sciences are related to computer linguistics – this is evidence of the relevance of this topic.

    — As neural networks and large language models develop, so-called glitches become more and more apparent. The abundance of information loaded onto them inevitably generates a wider range of fake information, and these models are simply no longer able to assess the truth of the information. Therefore, direct or combined methods of information processing that contain classical direct approaches remain important. It is they, as many specialists believe, that will be able to correct the work of large language models. These approaches were used in their works by Dmitry Morozov and Davlater Mengliev. In order for the development of neural networks and large language models not to reach a dead end, it is necessary to involve classical methods of computational linguistics, which uses knowledge of language. In this context, this knowledge is the modeling of human thinking. Neural networks model neural connections in the human brain, but not thinking, and thus implement a purely mechanistic approach to the process of information processing, which is unthinkable without human participation, because humans are both the producer and the end consumer of any information. Therefore, language processing should include an understanding of how it is structured, and not be a mechanical collection of information into large language models, explained Vladimir Barakhnin, the scientific supervisor of both degree candidates.

    Dmitry Morozov’s research is particularly relevant because it aims to establish a correspondence between the text and its potential reader. As Vladimir Barakhnin explained, there is currently a large gap between generations: many words in texts that seem quite understandable to representatives of the older generation turn out to be completely unperceivable for young people. In most cases, these are obsolete words, and in order to understand them, schoolchildren have to turn to dictionaries. The algorithms developed by Dmitry Morozov are aimed at ensuring that the information consumer receives information adequate to his level of education. Then his development and enrichment of his vocabulary will occur gradually. The importance of these algorithms lies in their real adaptation to the properties of the information consumer and taking into account his capabilities. The expert’s assessment is mostly subjective, and therefore not very reliable, and the methods of objective control developed in Dmitry Morozov’s dissertation allow for a more thorough educational process in the humanities.

    — The topic of my dissertation is “Text Complexity Assessment Using Machine Learning Methods on the Russian Language.” It is devoted to assessing how well the text will be understood by the reader or how well the reader should be prepared to understand what is written. This is necessary to assess the complexity of various instructions. Such texts should be understandable to people without special education and training. But there is a problem: they are created by people who have special knowledge about the subject of the narrative, and therefore much of what is incomprehensible to outsiders seems obvious to them. It is difficult for them to objectively assess the text they are creating. On the other hand, a person who does not have this knowledge, assessing the complexity of the text, must fully familiarize himself with it and give his own assessment. This takes a lot of time. Therefore, a vast field for automating the process is being formed in this area. We have a variety of pre-trained large language models that can be used within the framework of different algorithmic approaches and assess the complexity of the text automatically. My dissertation details how to use them to construct a description of a text, so that the resulting description can then be converted into an assessment of linguistic complexity, said Dmitry Morozov.

    The young scientist’s development will find application in compiling instructions for complex products. It is also proposed to use this complex to create a collection of texts that would be understandable to schoolchildren of different ages. This is necessary so that linguists can further study their vocabulary, because the various texts read by schoolchildren become an important source of new words in their vocabulary. In this way, they will be able to create different collections of words and predict which of them are known to schoolchildren and which are not, relying not on subjective experience, but on objective data.

    The research of the second candidate for the academic degree Davlater Mengliev, according to his scientific supervisor Vladimir Barakhnin, is a pioneering one for Uzbek computer linguistics, which began to develop relatively recently. According to him, at present, an entire scientific school has begun to take shape at NSU and several postgraduate students from the Republic of Uzbekistan are working on the development of this topic.

    — I devoted my PhD thesis to the development of a hybrid algorithm for recognizing named entities in the Uzbek language. This algorithm allows extracting key information from the text and recognizing it. Similar developments already exist for other languages, but for Uzbek, as well as for all Turkic languages in general, such work has not yet been done. The use of a hybrid approach, which involves the use of not only modern neural networks, but also traditional rule-oriented algorithms, which, together with several architectures, contributed to achieving good results, gives additional relevance to my work. At the moment, my development has been implemented in various organizations of the Republic of Uzbekistan, in particular, in the reception office of the governor of the Khorezm region. With the help of this algorithm, key information is extracted from requests and applications received by the institution and sent to the relevant divisions and departments. Since there are many dialects in the Uzbek language, my work in this direction is not yet complete, — explained Davlater Mengliev.

    Secretary of the scientific seminar of the NSU FIT, within the framework of which pre-defenses of dissertations are held, Alexander Vlasov is confident that the first two defenses of candidate dissertations are the beginning of a long journey both within the faculty and NSU and the Akademgorodok as a whole.

    Material prepared by: Elena Panfilo, NSU press service

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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    MIL OSI Russia News –

  • MIL-OSI Russia: “Your Graduation”: Polytechnic University Graduates at Russia’s Main Student Festival

    Translation. Region: Russian Federal

    Source: Peter the Great St. Petersburg Polytechnic University –

    An important disclaimer is at the bottom of this article.

    There are never too many graduations. When the ceremonies at the universities were over, more than 450 active, goal-oriented graduates of 2025 who had distinguished themselves in their studies, social activities and creativity met at the National Center “Russia” in Moscow to once again celebrate this important event in their lives.

    Polytechnic University was represented at the All-Russian student festival by Elizaveta Kuznetsova, a graduate of the Higher School of Linguistics and Pedagogy of the Humanitarian Institute, and Kristina Shakhova, a graduate of the Higher School of Public Administration of the Institute of Industrial Management, Economics and Trade.

    “I learned about the All-Russian Student Graduation and immediately decided to apply to try my hand,” said Elizaveta. “I wrote that I graduated from the university with honors, indicated the publication of scientific articles and volunteer work in the student association TutorForces. In this organization, I was lucky enough to become the deputy head of the SMM department, volunteer in the Unified Center for Registration of Foreign Citizens of SPbPU, participate in organizing events for foreign students and much more! I think that’s why I was invited to the All-Russian Student Graduation.”

    “I became the owner of a unique invitation to the All-Russian Student Graduation!” shared Kristina. “I sent an application, where I noted my achievements in scientific activities: participation in Olympiads, competitions, scientific conferences, publication of articles, defense of competition works in other cities, case championships. I got into the Science section. It was a real celebration, which combined education, creativity and the energy of youth! Honorary speakers spoke, shared valuable knowledge and inspiring stories. Each of us had the opportunity to ask questions and get answers from experts in various fields. In addition to lectures, there was a rich concert program. And at the end of the evening, I received a diploma from the Deputy Minister of Science and Higher Education of Russia, which was a bright end to this unforgettable event.”

    The “Your Graduation” celebration included many activities: several educational sessions, meetings with mentors and speakers, master classes, the “Letter to a First-Year Student” campaign, and the opening of the “Russian Student Faces” art object. The guests were treated to a performance by musicians Zhenya Trofimov and Roma Rudyka from the “Room of Culture” group, winners of the 2025 Muz-TV award in the “Breakthrough of the Year” nomination.

    The organizers of the All-Russian Student Graduation in 2025 were the Ministry of Science and Higher Education of the Russian Federation, the Federal Agency for Youth Affairs “Rosmolodezh”, the All-Russian student project “Your Move”, the Presidential Platform “Russia – the Land of Opportunities”, the Russian Society “Knowledge” with the support of the National Center “Russia” and the All-Russian public and state movement of children and youth “Movement of the First”.

    By the way, in 2022, the All-Russian Student Graduation Ceremony will be held from St. Petersburg took place in the Polytechnic University television studio.

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI: Gate and World Liberty Financial Reach Strategic Milestone: Gate Becomes Second-Largest Holder of USD1 Among Centralized Exchanges

    Source: GlobeNewswire (MIL-OSI)

    PANAMA CITY, July 29, 2025 (GLOBE NEWSWIRE) — Gate, a leading global cryptocurrency exchange, and World Liberty Financial (WLFI), the developer of a pioneering DeFi protocol and governance platform inspired by President Donald J. Trump, jointly announced a major milestone in the growing adoption of USD1, a USD-backed stablecoin issued by WLFI. According to on-chain data as of today, Gate has officially become the second-largest holder of USD1 among all centralized exchanges, trailing only Binance.

    The surge in USD1 holdings on Gate was driven by the launch of Ika (IKA) on Gate Launchpad on July 26. The Launchpad campaign supports subscriptions in USD1 and Gate Token (GT), attracting substantial user participation and stablecoin inflow.

    According to on-chain data, most USD1 liquidity is currently concentrated on the BNB Smart Chain (BSC), with smaller but notable reserves on Ethereum (ETH). Gate currently holds approximately $170 million USD1 on BSC, ranking second among CEXs with an additional $20 million USD1 on Ethereum, ranking first among CEXs on that chain. This correlates closely with the total USD1 allocation of 196 million tokens contributed to the IKA Launchpad event to date.

    In total, Gate Launchpad with $IKA has seen user contributions surpass 200 million USD1 and 5.33 million GT, worth approximately $97.5 million, marking one of the largest Launchpad commitments in Gate’s recent history.

    USD1 is a USD-backed stablecoin issued by World Liberty Financial, designed to provide transparent, regulated, and scalable digital dollar access across multiple blockchains. It is backed 1:1 by short-term US government treasuries, US dollar deposits, and other cash equivalents, with real-time audits and multi-chain deployment on BSC, Ethereum, and beyond.

    This collaboration signals both parties’ commitment to building an open and compliant PayFi ecosystem—bridging traditional financial assets with next-generation decentralized infrastructure.

    Learn more on Gate Launchpad: https://gate.com/zh/launchpad

    About Gate

    Gate, founded in 2013 by Dr. Han, is one of the world’s earliest cryptocurrency exchanges. The platform serves over 33 million users with 3,600+ digital assets and pioneered the industry’s first 100% proof-of-reserves. Beyond core trading services, Gate’s ecosystem includes Gate Wallet, Gate Ventures, and other innovative solutions.

    For more information, please visit: Website | X | Telegram | LinkedIn | Instagram | YouTube

    Disclaimer:

    This content does not constitute an offer, solicitation, or recommendation. You should always seek independent professional advice before making investment decisions. Gate may restrict or prohibit certain services in specific jurisdictions. For more information, please read the User Agreement via https://www.gate.com/user-agreement.

    About World Liberty Financial

    World Liberty Financial (WLFI) is a pioneering decentralized finance (DeFi) protocol and governance platform inspired by the vision of President Donald J. Trump. WLFI develops transparent, secure, and accessible financial tools, including institutional-grade products designed to broaden participation in decentralized finance. WFLI’s USD1 is a stablecoin redeemable 1:1 for the U.S. dollar, 100% backed by short-term U.S. treasuries, cash, and cash equivalents.

    Learn more and follow updates at x.com/worldlibertyfi.   

    Media Contact
    Frederica Ko
    Senior PR Manager, Gate Exchange
    ✉️ Frederica@gate.com

    Disclaimer: This content is provided by Gate. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a10497cf-f3e6-46aa-920d-770904d77ece

    The MIL Network –

  • MIL-OSI: Lucinity Launches AI-Native Customer 360, Powered by Agentic AI

    Source: GlobeNewswire (MIL-OSI)

    REYKJAVÍK, Iceland, July 29, 2025 (GLOBE NEWSWIRE) — Lucinity today announced the launch of its fully re-architected Customer 360 platform, now powered by Luci AI, the company’s Agentic AI framework. With this release, Lucinity replaces traditional data pivoting with real-time, explainable intelligence generated by AI analytics agents.

    At the heart of the release is a new capability: Luci AI now acts as a data scientist embedded inside every investigation.

    “Most compliance tools still ask analysts to do the hard work of interpreting raw data,” said Guðmundur Kristjánsson (GK), Founder and CEO of Lucinity. “We’ve built a system where AI takes on that role. Luci explores the data, explains it, and delivers deep, contextual insights, ready for human judgment. That’s what agentic AI looks like.”

    From Dashboards to Embedded Intelligence

    Traditional Customer 360 tools aggregate alerts, scores, and transactional data, but depend on human analysts to make sense of them. Lucinity’s new approach shifts the intelligence into the core.

    Luci’s agentic AI framework analyzes behavior, patterns, and context, then prepares fully explained insights, in real time. It prepares what used to take hours of manual effort, turning dashboards into decision tools powered by embedded AI.

    The experience reflects a model of augmented intelligence, where the AI prepares the analytical thinking so humans can focus on judgment, escalation, and action.

    Live in Production at a Tier 1 Financial Institution

    The Luci-powered Customer 360 is already in production at a Tier 1 financial institution and is rolling out to Lucinity’s global customer base in Q3. The intelligence layer integrates seamlessly into existing workflows, requiring no retraining or migration.

    “This isn’t a prototype or vision slide,” added Kristjánsson. “It’s live, explainable AI solving real problems day in, day out.”

    From FinCrime to the Enterprise

    While the initial deployment focuses on financial crime investigations, Lucinity confirms that Luci’s AI agent framework is built for broader enterprise use. The same intelligence layer can power onboarding, QA, fraud detection, risk reviews, customer experience, and any domain where analysts need to make sense of complex data at scale.

    “Anywhere an employee needs to understand complex customer data to make a decision, Luci can help,” said Kristjánsson.

    About Lucinity

    Lucinity is an AI-native platform redefining financial crime prevention. Its explainable agent framework, Luci, transforms compliance operations by embedding AI that prepares, explains, and supports complex decisions. Lucinity’s technology is in production at Tier 1 scale and is expanding to support use cases across the enterprise.

    For more information, visit www.lucinity.com

    Contact: celina@lucinity.com

    The MIL Network –

  • MIL-OSI Economics: kapitalmagazin.de: BaFin warns consumers about website and identity fraud

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The financial supervisory authority BaFin warns against alleged fixed-term deposit offers from the website kapitalmagazin.de. BaFin expressly points out that Ucapital Asset Management LLP – regulated by the British Financial Conduct Authority – contrary to the information in the imprint does not operate the website and does not have a branch in Germany. This is a case of identity theft.

    Anyone providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation.

    The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

    BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Economics –

  • MIL-OSI Submissions: Air-dropping food into Gaza is a ‘smokescreen’ – this is what must be done to prevent mass starvation

    Source: The Conversation – Global Perspectives – By Amra Lee, PhD candidate in Protection of Civilians, Australian National University

    Israel partially lifted its aid blockade of Gaza this week in response to intensifying international pressure over the man-made famine in the devastated coastal strip.

    The United Arab Emirates and Jordan airdropped 25 tonnes of food and humanitarian supplies on Sunday. Israel has further announced daily pauses in its military strikes on Gaza and the opening of humanitarian corridors to facilitate UN aid deliveries.

    Israel reports it has permitted 70 trucks per day into the strip since May 19. This is well below the 500–600 trucks required per day, according to the United Nations.

    The UN emergency relief chief, Tom Fletcher, has characterised the next few days as “make or break” for humanitarian agencies trying to reach more than two million Gazans facing “famine-like conditions”.

    A third of Gazans have gone without food for several days and 90,000 women and children now require urgent care for acute malnutrition. Local health authorities have reported 147 deaths from starvation so far, 80% of whom are children.

    Israeli Prime Minister Benjamin Netanyahu has claimed – without any evidence – “there is no starvation in Gaza”. This claim has been rejected by world leaders, including Netanyahu ally US President Donald Trump.

    Famine expert Alex de Waal has called the famine in Gaza without precedent:

    […] there’s no case of such minutely engineered, closely monitored, precisely designed mass starvation of a population as is happening in Gaza today.

    While the UN has welcomed the partial lifting of the blockade, the current aid being allowed into Gaza will not be enough to avert a wider catastrophe, due to the severity and depth of hunger in Gaza and the health needs of the people.

    According to the UN World Food Programme, which has enough food stockpiled to feed all of Gaza for three months, only one thing will work:

    An agreed ceasefire is the only way to reach everyone.

    Airdrops a ‘distraction and a smokescreen’

    Air-dropping food supplies is considered a last resort due to the undignified and unsafe manner in which the aid is delivered.

    The UN has already reported civilians being injured when packages have fallen on tents.

    The Global Protection Cluster, a network of non-governmental organisations and UN agencies, shared a story from a mother in Al Karama, east of Gaza City, whose home was hit by an airdropped pallet, causing the roof to collapse:

    Immediately following the impact, a group of people armed with knives rushed towards the house, while the mother locked herself and her children in the remaining room to protect her family. They did not receive any assistance and are fearful for their safety.

    Air-dropped pallets of food are also inefficient compared with what can be delivered by road.

    One truck can carry up to 20 tonnes of supplies. Trucks can also reach Gaza quickly if they are allowed to cross at the scale required. Aid agencies have repeatedly said they have the necessary aid and personnel sitting just one hour away at the border.

    Given how ineffective the air drops have been – and will continue to be – the head of the UN Relief Works Agency (UNRWA) for Palestine has called them a “distraction” and a “smokescreen”.

    Malnourished women and children need specialised care

    De Waal has also made clear how starvation differs from other war crimes – it takes weeks of denying aid for starvation to take hold.

    For the 90,000 acutely malnourished women and children who require specialised and supplementary feeding, in addition to medical care, the type of food being air-dropped into Gaza will not help them. Malnourished children require nutritional screening and access to fortified pastes and baby food.

    Gaza’s decimated health system is also not able to treat severely malnourished women and children, who are at risk of “refeeding syndrome” when they are provided with nutrients again. This can trigger a fatal metabolic response.

    Gaza will take generations to heal from the long-term impacts of mass starvation. Malnourished children suffer lifelong cognitive and physical effects that can then be passed on to future generations.

    What needs to happen now

    The UN has characterised the limited reopening of aid deliveries to Gaza as a potential “lifeline”, if it’s upheld and expanded.

    According to Ciaran Donnelly from the International Rescue Committee, what’s needed is “tragically simple”: Israel must fully open the Gaza borders to allow aid and humanitarian personnel to flood in.

    Israel must also guarantee safe conditions for the dignified distribution of aid that reaches everyone, including women, children, the elderly and people with disabilities. The level of hunger and insecurity mean these groups are at high risk of exclusion.

    The people of Gaza have the world’s attention – for now. They have endured increasingly dehumanising conditions – including the risk of being shot trying to access aid – under the cover of war for more than 21 months.

    Two leading Israeli human rights organisations have just publicly called Israel’s war on Gaza “a genocide”. This builds on mounting evidence compiled by the UN and other experts that supports the same conclusion, triggering the duty under international law for all states to act to prevent genocide.

    These obligations require more than words – states must exercise their full diplomatic leverage to pressure Israel to let aid in at the scale required to avert famine. States must also pressure Israel to extend its military pauses into the only durable solution – a permanent ceasefire.

    Amra Lee does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Air-dropping food into Gaza is a ‘smokescreen’ – this is what must be done to prevent mass starvation – https://theconversation.com/air-dropping-food-into-gaza-is-a-smokescreen-this-is-what-must-be-done-to-prevent-mass-starvation-262053

    MIL OSI –

  • MIL-OSI Submissions: A rare, direct warning from Japan signals a shift in the fight against child sex tourism in Asia

    Source: The Conversation – Global Perspectives – By Ming Gao, Research Fellow of East Asia Studies, Lund University

    Jonas Gratzer/LightRocket via Getty Images

    Japan’s embassy in Laos and its Ministry of Foreign Affairs has issued a rare and unusually direct advisory, warning Japanese men against “buying sex from children” in Laos.

    The move was sparked by Ayako Iwatake, a restaurant owner in Vientiane, who allegedly saw social media posts of Japanese men bragging about child prostitution. In response, she launched a petition calling for government action.

    The Japanese-language bulletin makes clear such conduct is prosecutable under both Laotian law and Japan’s child prostitution and pornography law, which applies extraterritorially.

    This diplomatic statement was not only a legal warning. It was a rare public acknowledgement of Japanese men’s alleged entanglement in transnational child sex tourism, particularly in Southeast Asia.

    It’s also a moment that demands we look beyond individual criminal acts or any one nation and consider the historical, racial and structural inequalities that make such mobility and exploitation possible.

    A changing map of exploitation

    Selling and buying sex in Asia is nothing new. The contours have shifted over time but the underlying sentiment has remained constant: some lives are cheap and commodified, and some wallets are deep and entitled.

    Japan’s involvement in overseas prostitution stretches back to the Meiji period (1868-1912). Young women from impoverished rural regions (known as karayuki-san) migrated abroad, often to Southeast Asia, to work in the sex industry, from port towns in Malaya to brothels in China and the Pacific Islands.

    If poverty once pushed Japanese women abroad to sell their bodies, by the second half of the 20th century – fuelled by Japan’s postwar economic boom – it was wealthy Japanese men who began travelling overseas to buy sex.

    Around the 2000s, the dynamic flipped again. In South Korea, now a developed economy, men travelled to Southeast Asia – and later to countries such as Russia and Uzbekistan – following routes once taken by Japanese men.

    Later in the same period, the flow took an even darker turn.

    Japanese and South Korean men began to emerge as major buyers of child sex abroad, particularly across Southeast Asia, the Pacific Islands and even Mongolia.

    According to the United States Department of State, Japanese men continued to be “a significant source of demand for sex tourism”, while South Korean men remained “a source of demand for child sex tourism”.

    The UN Office on Drugs and Crime and other organisations have also flagged both countries as key contributors to child sexual exploitation in the region.

    From exporter to destination: Japan’s new role in the sex trade

    A more recent and troubling shift appears to be unfolding within Japan.

    Amid ongoing economic stagnation and the depreciation of the yen, Tokyo has reportedly become a destination for inbound sex tourism. Youth protection organisations have observed a notable rise in foreign male clients, particularly Chinese, frequenting areas where teenage girls and young women engage in survival sex.

    What ties these movements together is not just culturally specific beliefs, such as the fetishisation of virginity or the superstition that sex with young girls brings good luck in business, but power.

    The battle to protect children

    The global campaign to end child sex tourism began in earnest with the founding of ECPAT (a global network of organisations that seeks to end the sexual exploitation of children) in 1990 to confront the rising exploitation of children in Southeast Asia.

    Despite legal frameworks and international scrutiny, the abuse of children remains disturbingly common.

    Several factors converge here: endemic poverty, weak law enforcement and a constant influx of wealthier foreign men. Add to that the digital age of information and communication technologies, where child sex can be advertised, arranged and commodified through encrypted platforms and invitation-only forums, and the crisis deepens.

    While local governments often pledge reform, implementation is inconsistent.

    Buyers, especially foreign buyers, often manage to evade consequences. However, in early 2025, Japan’s National Police Agency arrested 111 people – including high school teachers and tutors – in a nationwide crackdown on online child sexual exploitation, conducted in coordination with international partners.

    Why this moment matters

    The shock surrounding the Laos revelations and the unusually direct response from Japanese authorities offers a rare opportunity to confront the deeper systems at work.

    Sex tourism doesn’t happen in a vacuum. It’s enabled by uneven development, transnational mobility, weak regulation and social silence. But this moment also shows grassroots activism can force institutional action.

    Japan’s official warning wasn’t triggered by a government audit or diplomatic scandal. It came because Ayako Iwatake saw social media posts of Japanese men boasting about buying sex from children and refused to look away.

    When she delivered the petition to the embassy, it responded quickly. Less than ten days later, the Foreign Ministry issued a public warning, clearly outlining the legal consequences of child sex crimes committed abroad.

    Iwatake’s action is a reminder: it doesn’t take a government to expose a system. It takes someone willing to speak out – even when it’s uncomfortable. As she told Japanese newspaper Mainichi Shimbun:

    It was just too blatant. I couldn’t look the other way.

    It’s commendable that Japan acted swiftly. But a warning alone isn’t enough. Japan should strengthen and expand its international cooperation to combat these heinous crimes.

    A more decisive model can be seen in a recent case in Vietnam, where US authorities infiltrated a livestream child sex abuse network for the first time in that country. Working undercover for months, they coordinated with Vietnamese officials to arrest a mother who had been sexually abusing her daughter on demand for paying viewers abroad.

    The rescue of the nine-year-old victim showed what serious cross-border intervention looks like.

    But for every headline-grabbing scandal, there are hundreds of untold stories.

    The Laos case should be the beginning of a broader reckoning with how sex, money and power move across borders – and who pays the price.

    Ming Gao receives funding from the Swedish Research Council. This research was produced with support from the Swedish Research Council grant “Moved Apart” (nr. 2022-01864). Ming Gao is a member of Lund University Profile Area: Human Rights.

    – ref. A rare, direct warning from Japan signals a shift in the fight against child sex tourism in Asia – https://theconversation.com/a-rare-direct-warning-from-japan-signals-a-shift-in-the-fight-against-child-sex-tourism-in-asia-261554

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  • MIL-OSI Submissions: France is set to recognise the state of Palestine and the UK may follow – but what does it really mean?

    Source: The Conversation – UK – By Malak Benslama-Dabdoub, Lecturer in law, Royal Holloway University of London

    Emmanuel Macron’s pledge to formally recognise the state of Palestine will make France the first G7 country and member of the UN security council to do so. The question is whether others will follow suit. The UK prime minister, Keir Starmer, is coming under mounting pressure from many of his MPs, and has recalled his cabinet from their summer recess to discuss the situation in Gaza.

    Starmer is expected to announce a peace plan for the Middle East this week that will include British recognition of Palestinian statehood. Downing Street sources said recognition was a matter of “when, not if”.

    Recognition of statehood is not merely symbolic. The Montevideo convention of 1933 established several criteria which must apply before an entity can be recognised as a sovereign state. These are a permanent population, a defined territory, an effective government and the ability to conduct international relations.

    The process involves the establishment of formal diplomatic relations, including the opening of embassies, the exchange of ambassadors, and the signing of bilateral treaties. Recognition also grants the recognised state access to certain rights in international organisations. For Palestinians, such recognition will strengthen their claim to sovereignty and facilitate greater international support.

    Macron’s announcement was met with enthusiasm in many Arab capitals, as well as among Palestinian officials and supporters of the two-state solution. It was also praised by a number of European leaders as well as several journalists and other analysts as a long-overdue step toward a more balanced approach to the Israeli-Palestinian conflict.

    However, the reaction from other major powers was swift and critical. The US called it “a reckless decision” while the Israeli prime minister, Benjamin Netanyahu, said he “strongly condemned” it. Italy’s prime minister, Giorgia Meloni, called it “counterproductive”.

    Within hours, it was clear that Macron’s announcement had both shifted diplomatic discourse and reignited longstanding divisions.

    France’s decision is significant. It signals a departure from the western consensus, long shaped by the US and the EU, that any recognition of Palestinian statehood must be deferred until after final-status negotiations. The move also highlights growing frustration in parts of Europe with the ongoing violence in Gaza and the failure of peace talks over the past two decades.

    Yet questions remain: what does this recognition actually entail? Will it change conditions on the ground for Palestinians? Or is it largely symbolic?

    So far, the French government has offered no details on whether this recognition will be accompanied by concrete measures. There has been no mention of sanctions on Israel, no indication of halting arms exports, no pledges of increased humanitarian aid or support for Palestinian governance institutions. France remains a key military and economic partner of Israel, and Macron’s announcement does not appear to alter that relationship.

    Nor is this the first time a western country has taken a symbolic stance in support of Palestinian statehood. Sweden recognised the state of Palestine in 2014, becoming the first western European country to do so. It was followed by Spain in 2024.

    However, both moves were largely symbolic and did not significantly alter the political or humanitarian situation on the ground. The risk is that recognition, without action, becomes a gesture that changes little.

    Macron’s statement also raised eyebrows for another reason: his emphasis on a “demilitarised Palestinian state” living side-by-side with Israel in peace and security. While such language is common in diplomatic discourse, it also reflects a deeper tension.

    Palestinians have long argued that their right to self-determination includes the right to defend themselves against occupation. Calls for demilitarisation are often seen by critics as reinforcing the status quo, where security concerns are framed almost exclusively in terms of Israeli needs.

    In the absence of a genuine political process, some analysts have warned that recognition of this kind risks formalising a state in name only – a fragmented, non-sovereign entity without control over its borders, resources or defence. Without guarantees of territorial continuity, an end to the expansion of Israeli settlements and freedom of movement, statehood may remain an abstract concept.

    What would meaningful support look like?

    If France wishes to go beyond symbolism, it has options. It could suspend arms exports to Israel or call for an independent international investigation into alleged war crimes. It could use its influence within the EU to push for greater accountability regarding illegal settlements and the blockade of Gaza. It could also support Palestinian institutions directly and engage with Palestinian civil society.

    Without such steps, recognition risks being viewed as a political message more than a policy shift. For Palestinians, the daily realities of occupation, displacement and blockade will not change with diplomatic announcements alone. What is needed, many argue, is not just recognition but support for justice, rights and meaningful sovereignty.

    France’s recognition of Palestine marks a shift in diplomatic tone and reflects broader unease with the status quo in the Middle East. It has stirred debate at home and abroad, and raised expectations among those hoping for more robust international engagement with the conflict.

    Whether this recognition leads to meaningful changes in policy or conditions on the ground remains to be seen. Much will depend on the steps France takes next – both at the United Nations and through its actions on trade, security and aid.

    Malak Benslama-Dabdoub does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. France is set to recognise the state of Palestine and the UK may follow – but what does it really mean? – https://theconversation.com/france-is-set-to-recognise-the-state-of-palestine-and-the-uk-may-follow-but-what-does-it-really-mean-262095

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  • India’s tiger reserves rise from 46 to 58 since 2014: Bhupender Yadav

    Source: Government of India

    Source: Government of India (4)

    Union Minister for Environment, Forest and Climate Change, Bhupender Yadav, on Tuesday announced that the number of tiger reserves in India has grown from 46 in 2014 to 58 as of 2025. The statement was made during the Global Tiger Day 2025 celebrations held at the National Zoological Park in New Delhi.

    Presiding over the event, the Minister emphasized the importance of maintaining ecological balance, fostering conservation awareness among children, and cultivating gratitude towards nature. He praised the role of schools and teachers in educating the younger generation about wildlife conservation and biodiversity preservation.

    Yadav highlighted that this expansion in tiger reserves is a reflection of the unwavering commitment of Prime Minister Narendra Modi to protecting India’s national animal. He noted that the government continues to prioritize environmental sustainability as part of its broader development agenda.

    Marking one of the most ambitious conservation efforts in the world, the Minister announced the launch of a massive nationwide tree plantation drive. Under this initiative, more than one lakh saplings will be planted across all 58 tiger reserves, with each reserve planting approximately 2,000 indigenous trees in degraded forest areas to support habitat restoration and ecological health.

    In a move to inspire public participation, the Minister encouraged citizens, especially children, to plant a tree in their mother’s name under the ‘Ek Ped Maa Ke Naam’ campaign. Describing the symbolic connection between motherhood and nature, Yadav said that just as a mother nurtures her child, Mother Earth offers shelter, food, and oxygen selflessly. He urged everyone to plant a tree in honor of their mothers and for the sake of the planet.

    Yadav also spotlighted India’s leadership in global big cat conservation through the International Big Cat Alliance (IBCA), an initiative launched by India to protect all seven big cat species worldwide. He informed that 24 countries have already joined the alliance, and its headquarters will be established in India, further positioning the country at the forefront of international wildlife conservation.

    Addressing the youth, the Minister urged them to lead lives marked by humility, patience, and determination. He called on them to actively contribute to sustainable living and conservation efforts under the government’s Mission LiFE (Lifestyle for Environment), which promotes environmentally conscious behavior.

    The Global Tiger Day celebrations also included the virtual inauguration of plantation drives across all tiger reserves, as well as the opening of forest nurseries in three locations across the Aravalli landscape. These nurseries will serve as a sustainable source of native plant species for afforestation and ecological restoration. Another key initiative launched during the event was the ‘Plastic-Free Tiger Reserves’ campaign, aimed at phasing out single-use plastics within all tiger reserves across India.

    The event featured the release of four important publications under the National Tiger Conservation Authority (NTCA). These included a report on the “Status of Small Cats in the Tiger Landscape of India”, the Global Tiger Day special edition of STRIPES Magazine, and two books titled Waterfalls of Tiger Reserves in India and Water Bodies Inside Tiger Reserves of India, authored by Bharat Lal and Dr. S.P. Yadav.

    As part of recognizing contributions to wildlife protection, Yadav presented NTCA awards across seven categories. These included awards for individuals and groups who demonstrated excellence in wildlife crime investigation, habitat management, anti-poaching efforts, public engagement, voluntary relocation, and posthumous recognition for those who lost their lives in the line of duty.

    (with ANI inputs)

  • MIL-OSI Russia: Spanish PM urges EU to diversify trade relations after US deal

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    MADRID, July 29 (Xinhua) — Spanish Prime Minister Pedro Sanchez on Monday called on the European Union (EU) to “diversify” the country’s trade relations following the announcement of a new EU-U.S. trade deal late on Sunday.

    Speaking at his residence in Madrid ahead of the summer parliamentary recess, P. Sanchez told the press that he “appreciated” “the efforts made by the European Commission.”

    He said the trade deal showed that “one of the lessons Europe must learn in the face of the US administration is that we must act together in all aspects: in strategic autonomy and in commercial agreements with other countries.”

    “We must diversify our commercial relations with blocs that want to reach an agreement with Europe, such as Mercosur,” said P. Sanchez, stressing that Spain’s foreign policy is based on “commitment to peace, reality and cooperation between nations.”

    US President Donald Trump and European Commission President Ursula von der Leyen announced the new deal on Sunday after trade talks at Trump’s golf club in Turnberry, South Ayrshire, Scotland.

    While both leaders described the agreement as a step toward restoring “trade balance” and promoting more equitable bilateral trade, the deal allows the United States to impose broad 15 percent tariffs on EU goods while providing zero-tariff access to a range of strategic U.S. exports. In return, the EU has committed to purchasing $750 billion in U.S. energy and investing an additional $600 billion in the United States. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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  • MIL-OSI Russia: UN chief welcomes Cambodia-Thailand ceasefire deal

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    UNITED NATIONS, July 29 (Xinhua) — United Nations Secretary-General Antonio Guterres welcomes the ceasefire agreement between Cambodia and Thailand as a positive step toward ending ongoing hostilities and easing tensions, Farhan Haq, deputy spokesman for the world body chief, said on Monday.

    A. Guterres “urges both countries to fully comply with the agreement and create conditions conducive to resolving long-standing problems and achieving lasting peace,” the statement said.

    “The Secretary-General expresses his appreciation to Malaysia, the current ASEAN Chair, as well as the United States and China, for their tireless efforts to resolve the situation peacefully,” Haq said in a statement, adding that the UN stands ready to support efforts to strengthen peace and stability in the region.

    The leaders of Thailand and Cambodia agreed to a ceasefire from midnight Monday, Malaysian Prime Minister Anwar Ibrahim said after a meeting he hosted in the Malaysian city of Putrajaya. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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  • MIL-OSI Russia: At least seven people killed in road accident in central Peru

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    LIMA, July 29 (Xinhua) — At least seven people were killed and one child was seriously injured when a pickup truck fell off a cliff in central Peru’s Junin region, local media reported Monday.

    The accident occurred on Sunday in the remote Carpapata region, located between the towns of Tarma and La Merced. The car left the road and fell about 300 meters into a ravine.

    Emergency traffic police teams arrived at the scene. The child was rescued and is the only survivor of the plane crash.

    According to the National Road Safety Observatory of the Ministry of Transport and Communications of Peru, 1,215 people died in road accidents in Peru between January and May of this year, and another 22,846 were injured. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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  • MIL-OSI Russia: NPC Standing Committee Chairman Zhao Leji Advocates Mutual Trust, Win-Win Cooperation with Hungary

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    BUDAPEST, July 29 (Xinhua) — Zhao Leji, chairman of the Standing Committee of the National People’s Congress (NPC), spoke highly of the mutual trust and win-win cooperation between China and Hungary during his official and friendly visit to the European country from July 24 to 28.

    Zhao Leji held separate meetings with Hungarian President Tamás Szujok and Prime Minister Viktor Orbán, as well as talks with National Assembly Speaker László Kövér.

    Chinese President Xi Jinping’s successful state visit to Hungary in May 2024, which elevated China-Hungary relations to an all-weather comprehensive strategic partnership in a new era, opened up broader prospects for friendly cooperation between the two countries, Zhao Leji noted at the meeting with T. Shuyok.

    He said China is willing to cooperate with Hungary to be good friends who respect and trust each other, good partners who bring mutual benefits and achieve win-win results, and good brothers who understand and care for each other.

    China will join hands with Hungary to promote the comprehensive synergy between the Belt and Road Initiative and Hungary’s “Opening to the East” strategy, complete high-quality construction of landmark projects such as the Hungary-Serbia railway, and encourage and support more active exchanges between the two countries and at the local level in culture, media and youth so as to strengthen people-to-people ties, Zhao Leji said.

    T. Šuyok noted in turn that Hungary and China are developing bilateral relations based on mutual respect, mutual trust and mutually beneficial results, which is of great importance and modern value.

    The Hungarian President said that participation in the Belt and Road Initiative is of vital importance for Hungary, and the Hungary-Serbia railway project is an example of major project cooperation.

    He also expressed hope that the two sides will continuously deepen cooperation in areas such as green energy, artificial intelligence, digital economy, youth and education.

    During the meeting with V. Orban, Zhao Leji said that in recent years, China-Hungary relations have made rapid progress and are at the highest level in history. According to him, China values Hungary’s commitment to the one-China principle and is willing to continue to strengthen support for each other.

    China welcomes increased imports of high-quality agricultural and food products from Hungary and expects Hungary to provide political support and security guarantees to Chinese enterprises in Hungary, Zhao Leji said.

    As this year marks the 50th anniversary of the establishment of diplomatic relations between China and the EU, Zhao Leji said China hopes and believes that Hungary will continue to play an active role in promoting the healthy and stable development of China-EU relations.

    China will also work with Hungary to promote cooperation between China and Central and Eastern European countries, Zhao Leji said.

    V. Orban noted that the state visit of the President of the People’s Republic of China Xi Jinping to Hungary last year was an important milestone in the history of Hungarian-Chinese relations. According to him, the development of friendly cooperation with China is a strategic choice of Hungary, which will help Hungary modernize technologies and develop markets.

    During the talks with L. Kever, Zhao Leji said that the National People’s Congress is willing to cooperate with the Hungarian National Assembly to advance the implementation of the agreements reached during Chinese President Xi Jinping’s visit last year and promote the development of high-level Chinese-Hungarian relations.

    The two sides should strengthen exchanges between legislative organs at all levels and formulate, revise and approve legal documents conducive to bilateral cooperation in a timely manner, Zhao Leji said, calling on both sides to strengthen coordination and cooperation in multilateral arenas such as the Inter-Parliamentary Union.

    L. Kövér said that a growing China is conducive to peace and development of the entire world and contributes to the building of a multipolar world, which is in full accordance with Hungary’s interests. The Hungarian National Assembly is ready to cooperate with the NPC to provide firm support for mutually beneficial cooperation between the two countries. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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  • MIL-OSI Russia: Massive rescue efforts continue in Beijing after heavy rains kill 30

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    BEIJING, July 29 (Xinhua) — Beijing authorities have launched a rescue operation as heavy rains have killed 30 people as of midnight Monday, damaged roads, disrupted power supplies and forced mass evacuations.

    The fatalities were recorded in the northern mountainous areas of the Chinese capital, with 28 people killed in the Miyun district and two in the Yanqing district.

    Chinese President Xi Jinping gave an important instruction on flood control and disaster relief on Monday, calling for all-out efforts to ensure the safety of people’s lives and property in the fight against rain-induced floods and geological disasters affecting some parts of China.

    Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, said all aspects of search and rescue and flood control work should be properly organized, urgent measures should be taken to combat natural disasters, all efforts should be made to search for missing people and rescue those trapped, and people in danger should be resolutely evacuated to minimize casualties.

    The downpours forced more than 80,000 people to evacuate in Beijing alone, damaged 31 sections of roads and caused power outages in 136 villages.

    “Several houses in our community were flooded as a result of heavy rain on Saturday night,” said Cui Di, deputy head of the Shicheng Township People’s Government, located in Beijing’s hardest-hit Miyun District. She worked tirelessly throughout the night to help residents move to safer areas.

    “In such emergency situations, it is difficult for everyone. We are doing everything possible to make temporary places of stay a little more comfortable for people and thus alleviate their anxiety,” the official noted.

    According to her, local authorities also prepared mattresses, blankets, bread, eggs and other necessary materials for the evacuees.

    At the Miyun resettlement center, fourth-grader Zhao Zixuan sits on her bed reading a book. She was evacuated from the flooded village on a speedboat. “It’s very safe here, and I can read in peace,” she said.

    In recent days, extreme and strong convective phenomena caused by warm and humid air from the edge of a subtropical anticyclone have been recorded in Miyun and other metropolitan areas.

    At 8:00 p.m. Monday, the Beijing Municipal Flood Control Headquarters launched the highest-level emergency response mechanism for the floods.

    Due to continued heavy rains, the Beijing branch of China Railways suspended some trains on the Beijing-Harbin High-Siberian Railway on Tuesday.

    China’s Ministry of Finance and the Ministry of Emergency Management on Tuesday allocated 350 million yuan (about 48.94 million U.S. dollars) from the central budget to provide aid to nine provincial-level regions hit by floods, including Beijing.

    These funds will be used primarily to carry out emergency rescue operations and provide assistance to residents of these regions affected by natural disasters.

    Also on Tuesday, China’s National Development and Reform Commission announced it would allocate 200 million yuan to provide disaster relief assistance in Beijing. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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  • MIL-OSI Russia: Former Special Assistant to Pakistan PM: Community of Shared Destiny for Mankind is one of the key topics on SCO agenda

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    TIANJIN, July 25 (Xinhua) — A community with a shared future for mankind is one of the key topics on the agenda of the Shanghai Cooperation Organization (SCO), former special assistant to Pakistan’s Prime Minister Zafar Uddin Mahmood said at an event titled “Dialogue of Civilizations among SCO Countries 2025” on Thursday.

    According to him, in a world where conflicts often occur, people must first understand each other, deeply understand each other’s values and develop a spirit of inclusiveness to achieve peaceful coexistence.

    He added that as the level of connectivity increases, especially through the promotion of the Belt and Road Initiative, the level of mutual understanding between the peoples of the SCO countries continues to grow.

    The SCO Dialogue of Civilizations 2025 was held in Tianjin, northern China. The event, jointly organized by the State Council Information Office, the Foreign Language Publication and Dissemination Office and the SCO Secretariat, aims to deepen mutual understanding and strategic trust, and promote the building of a closer SCO community with a shared future.

    More than 300 guests from government departments, think tanks, culture, art, education and other fields from SCO member countries attended the event and had an in-depth exchange of views on the theme “Promoting the Global Initiative of Civilizations – Building a Beautiful Common Home of the SCO.” -0-

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  • MIL-OSI Russia: Russian President Conducts Telephone Conversation with Israeli Prime Minister

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    Moscow, July 29 /Xinhua/ — Russian President Vladimir Putin and Israeli Prime Minister Benjamin Netanyahu held a telephone conversation on Monday, during which they agreed to continue dialogue on current issues on the international and bilateral agenda, the Kremlin press service reported.

    It is noted that the parties discussed various aspects of the tense situation in the Middle East. The Russian side confirmed its unwavering position in favor of an exclusively peaceful settlement of the problems and conflicts existing in the region.

    V. Putin stressed the importance of the territorial integrity and sovereignty of Syria. He, “in particular, emphasized the importance of supporting the unity, sovereignty and territorial integrity of the Syrian Arab Republic, strengthening its internal political stability through the observance of the legitimate rights and interests of all ethnic and religious groups of the population.”

    The Kremlin reported that, given the recent escalation of the Iranian-Israeli confrontation, Moscow has indicated its readiness to do everything in its power to facilitate the finding of a negotiated solution to the Iranian nuclear program. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

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  • MIL-OSI Asia-Pac: Prepackaged bamboo fungi sample detected with excessive preservative breaches food labelling regulation

    Source: Hong Kong Government special administrative region

    Prepackaged bamboo fungi sample detected with excessive preservative breaches food labelling regulationBrand: (Not available in English)
    Place of origin: China
    Packer: (Not available in English)
    Net weight: 100 grams per pack
    Best before date: December 18, 2026
    Importer???Jin Fa CoIssued at HKT 18:00

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: Radware Expands U.S. Presence with New Managed Security Service Provider Partnerships

    Source: GlobeNewswire (MIL-OSI)

    MAHWAH, N.J., July 29, 2025 (GLOBE NEWSWIRE) — Radware® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, today announced it signed managed security service provider (MSSP) agreements with Epcom World Industries, Inc., GLESEC, North Atlantic Networks and Tech Pro. The four U.S. based companies are adding Radware’s Cloud Application Protection Services to their managed services portfolios to scale their businesses and expand their security offerings for customers. North Atlantic Networks is also offering Radware’s Cloud DDoS Protection Services.

    “MSSPs are constantly looking for more innovative ways to defend customers as they deal with growing budget constraints, limited in-house security staff, and bigger more complex cyber threats,” said John Eisenbarger, vice president of carriers and service providers for Radware. “Applications are facing increasing exposure from bots, API abuse, web-layer DDoS attacks and credential misuse. To enable MSSPs to respond where customer risk is expanding fastest, Radware offers a fully managed AppSec-as-a-Service platform that is ready to quickly deploy, scale, and monetize, without having to build a backend.”

    Epcom World Industries, GLESEC, North Atlantic Networks, and Tech Pro add to the growing list of MSSPs that have chosen Radware’s cloud network and application security solutions to speed time to market, scale their businesses, and deliver high-value services.

    “We selected Radware as our partner because of its comprehensive offering, overall excellent product design, support, and customer first approach. The partnership process with Radware has been seamless. They listened, understood, and supported our needs. Together we are equipping clients—whether they be in healthcare, finance, pharmaceutical, non-profit, or government—with mission-critical security tools that not only defend networks, web assets, and environments, but also comply with strict regulatory requirements.”
    – Rudy V. Pancaro, CEO, Epcom World Industries

    “Becoming an MSSP partner is a natural extension of our long-standing collaboration with Radware and a key milestone in delivering our SKYWATCH™ Cybersecurity Operating System. By fully integrating Radware’s industry-leading application protection into our Device-Centric Model and real-time risk management workflows, we deliver a unified, fully managed solution that reduces exposure, accelerates remediation, and ensures compliance. This partnership enables us to protect mission-critical environments—especially in healthcare, finance, and government—with the agility, intelligence, and depth of defense they require.”
    – Sergio Heker, CEO and founder, GLESEC

    “Our mission is to deliver best-in-class managed security services that are both proactive and adaptive. By integrating Radware’s solutions into our MSSP stack, we’re able to offer our clients deeper protection against increasingly complex cyber threats—especially in the areas of DDoS attacks, application-layer security, and zero-day threats. This partnership enhances our ability to deliver scalable, intelligent protection without compromising performance, helping our clients stay ahead of the threat landscape while supporting their digital transformation and cloud migration goals.”
    – Carolyn Smith, senior vice president, strategic accounts, North Atlantic Networks

    “Radware’s technology aligns with our commitment to deliver secure, resilient, and high-performing digital experiences to our clients, especially in today’s increasingly complex threat landscape. By integrating Radware’s solutions into our offering, we increase the value proposition to our customers: stronger protection, smarter automation, and peace of mind. Together, we bring a synergistic approach that helps organizations not only defend against threats but also accelerate their growth safely and confidently.”
    – Lidia Israyelyan, CEO, Tech Pro

    Radware offers a variety of cloud network and application security solutions and services that cater to the needs of pure play MSSPs and ISPs. This includes a fully branded and managed AppSec-as-a-Service platform that can be deployed without added infrastructure investment, operational lift, or headcount requirements. The platform offers:

    • Rapid market entry without a technical buildout.
    • Managed services that align MSSPs to areas where cyber threats and client risk are expanding fastest (i.e. bots, APIs, SaaS-layer abuse).
    • The monetization of application layer threats as an alternative to flat service bundles.
    • An expanded security portfolio that fills gaps in protection in competitive solutions that clients often assume are already covered.

    Radware has been recognized by numerous industry analysts for its application and network security solutions. This includes Aite-Novarica Group, Forrester, Gartner, KuppingerCole, and QKS Group.

    About Radware
    Radware® (NASDAQ: RDWR) is a global leader in application security and delivery solutions for multi-cloud environments. The company’s cloud application, infrastructure, and API security solutions use AI-driven algorithms for precise, hands-free, real-time protection from the most sophisticated web, application, and DDoS attacks, API abuse, and bad bots. Enterprises and carriers worldwide rely on Radware’s solutions to address evolving cybersecurity challenges and protect their brands and business operations while reducing costs. For more information, please visit the Radware website.

    Radware encourages you to join our community and follow us on: Facebook, LinkedIn, Radware Blog, X, and YouTube.

    ©2025 Radware Ltd. All rights reserved. Any Radware products and solutions mentioned in this press release are protected by trademarks, patents, and pending patent applications of Radware in the U.S. and other countries. For more details, please see: https://www.radware.com/LegalNotice/. All other trademarks and names are property of their respective owners.

    Radware believes the information in this document is accurate in all material respects as of its publication date. However, the information is provided without any express, statutory, or implied warranties and is subject to change without notice.

    The contents of any website or hyperlinks mentioned in this press release are for informational purposes and the contents thereof are not part of this press release.

    Safe Harbor Statement
    This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements made herein that are not statements of historical fact, including statements about Radware’s plans, outlook, beliefs, or opinions, are forward-looking statements. Generally, forward-looking statements may be identified by words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.” For example, when we say in this press release that applications are facing increasing exposure from bots, API abuse, web-layer DDoS attacks and credential misuse, we are using forward-looking statements. Because such statements deal with future events, they are subject to various risks and uncertainties, and actual results, expressed or implied by such forward-looking statements, could differ materially from Radware’s current forecasts and estimates. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global economic conditions, including as a result of the state of war declared in Israel in October 2023 and instability in the Middle East, the war in Ukraine, tensions between China and Taiwan, financial and credit market fluctuations (including elevated interest rates), impacts from tariffs or other trade restrictions, inflation, and the potential for regional or global recessions; our dependence on independent distributors to sell our products; our ability to manage our anticipated growth effectively; our business may be affected by sanctions, export controls, and similar measures, targeting Russia and other countries and territories, as well as other responses to Russia’s military conflict in Ukraine, including indefinite suspension of operations in Russia and dealings with Russian entities by many multi-national businesses across a variety of industries; the ability of vendors to provide our hardware platforms and components for the manufacture of our products; our ability to attract, train, and retain highly qualified personnel; intense competition in the market for cybersecurity and application delivery solutions and in our industry in general, and changes in the competitive landscape; our ability to develop new solutions and enhance existing solutions; the impact to our reputation and business in the event of real or perceived shortcomings, defects, or vulnerabilities in our solutions, if our end-users experience security breaches, or if our information technology systems and data, or those of our service providers and other contractors, are compromised by cyber-attackers or other malicious actors or by a critical system failure; our use of AI technologies that present regulatory, litigation, and reputational risks; risks related to the fact that our products must interoperate with operating systems, software applications and hardware that are developed by others; outages, interruptions, or delays in hosting services; the risks associated with our global operations, such as difficulties and costs of staffing and managing foreign operations, compliance costs arising from host country laws or regulations, partial or total expropriation, export duties and quotas, local tax exposure, economic or political instability, including as a result of insurrection, war, natural disasters, and major environmental, climate, or public health concerns; our net losses in the past and the possibility that we may incur losses in the future; a slowdown in the growth of the cybersecurity and application delivery solutions market or in the development of the market for our cloud-based solutions; long sales cycles for our solutions; risks and uncertainties relating to acquisitions or other investments; risks associated with doing business in countries with a history of corruption or with foreign governments; changes in foreign currency exchange rates; risks associated with undetected defects or errors in our products; our ability to protect our proprietary technology; intellectual property infringement claims made by third parties; laws, regulations, and industry standards affecting our business; compliance with open source and third-party licenses; complications with the design or implementation of our new enterprise resource planning (“ERP”) system; our reliance on information technology systems; our ESG disclosures and initiatives; and other factors and risks over which we may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Radware, refer to Radware’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC), and the other risk factors discussed from time to time by Radware in reports filed with, or furnished to, the SEC. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable law, Radware undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made. Radware’s public filings are available from the SEC’s website at www.sec.gov or may be obtained on Radware’s website at www.radware.com.

    ###

    The MIL Network –

  • MIL-OSI: onsemi Collaborates with NVIDIA to Accelerate Transition to 800 VDC Power Solutions for Next-Generation AI Data Centers

    Source: GlobeNewswire (MIL-OSI)

    Scottsdale, Ariz, July 29, 2025 (GLOBE NEWSWIRE) — onsemi (Nasdaq: ON) today announced its working with NVIDIA to support the transition to 800 Volts Direct Current (VDC) power architectures, a transformative solution that is driving significant gains in efficiency, density, and sustainability for next-generation AI data centers.  

    At the core of this shift is new power distribution system, which must distribute a massive amount of power with minimal losses during each voltage conversion. onsemi’s intelligent power portfolio plays a critical role in enabling the next generation of AI data centers by delivering high-efficiency, high-density power conversion across every stage of the power journey—from high-voltage AC/DC conversion at the substation to precise voltage regulation at the processor level.

    Leveraging decades of innovation in both silicon and silicon carbide (SiC) technologies, onsemi provides industry-leading solutions for solid state transformers, power supply units, 800 VDC distribution, and core power delivery, all integrated with intelligent monitoring and control. This breadth and depth of capability make onsemi one of the few companies able to meet the demanding power requirements of modern AI infrastructure with scalable, physically realizable designs.

    ###

    About onsemi
    onsemi (Nasdaq: ON) is driving disruptive innovations to help build a better future. With a focus on automotive and industrial end-markets, the company is accelerating change in megatrends such as vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure. onsemi offers a highly differentiated and innovative product portfolio, delivering intelligent power and sensing technologies that solve the world’s most complex challenges and leads the way to creating a safer, cleaner and smarter world. onsemi is included in the Nasdaq-100 Index® and S&P 500® index. Learn more about onsemi at www.onsemi.com.

    onsemi and the onsemi logo are trademarks of Semiconductor Components Industries, LLC. All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders. Although the Company references its website in this news release, information on the website is not to be incorporated herein.

    Contact Info

    Krystal Heaton
    krystal.heaton@onsemi.com
    +1 480-242-6943

    The MIL Network –

  • MIL-OSI: Quavo Fraud & Disputes Releases Landmark 2025 State of Dispute Management Performance Report

    Source: GlobeNewswire (MIL-OSI)

    WILMINGTON, Del., July 29, 2025 (GLOBE NEWSWIRE) — Quavo, Inc. (“Quavo”), the leading provider of AI-powered dispute management solutions, today announced the release of its 2025 State of Dispute Management Performance Report, a first-of-its-kind benchmark study analyzing the performance metrics that define modern fraud and dispute operations.

    Between January and December 2024, Quavo evaluated the performance of 26 clients, each of which had been using QFD®, Quavo’s end-to-end dispute management platform, at full volume for a minimum of three months. To provide broader industry context, the study also incorporates performance data from Auriemma Roundtables to establish a competitive industry average.

    The report delivers a comprehensive, data-driven snapshot of how financial institutions across the U.S., including banks, credit unions, fintechs, and payment processors, are managing the growing complexities of fraud and disputes. It measures performance across four key dimensions: customer satisfaction, operational efficiency, financial performance, and recovery, spotlighting both areas of excellence and opportunities for strategic improvement.

    “Dispute management is no longer just a back-office function; it’s a critical moment of truth in the customer experience,” said Joseph McLean, Co-Founder and CEO at Quavo Fraud & Disputes. “This report not only reveals how the industry is performing, but also provides a roadmap for financial institutions to turn fraud and dispute resolution into a strategic advantage. We’re proud to offer this level of transparency and insight at a time when trust, efficiency, and compliance matter more than ever.”

    Key findings underscore the rising strategic importance of dispute management as a critical accountholder touchpoint, revealing where organizations are excelling, where gaps exist, and how forward-thinking leaders can drive transformation across their operations.

    To explore the full report and learn how Quavo is helping financial institutions redefine dispute management, visit www.quavo.com.

    About Auriemma Roundtables

    Auriemma Roundtables is a leading provider of business intelligence, specializing in financial services, payments, and consumer lending. With decades of experience and an extensive network of industry participants, Auriemma Roundtables delivers robust benchmarking and actionable insights to help organizations drive strategic decisions in functions such as risk and compliance, fraud and disputes, collections and recoveries, and customer service.

    About Quavo, Inc.

    Quavo is a leading technology partner and strategic advisor, helping financial institutions (FIs) build trust-driven customer relationships through faster, more transparent dispute resolutions. Our mission is to restore financial trust by simplifying fraud and disputes. Quavo’s award-winning technology automates the entire dispute lifecycle, from intake to resolution. FIs can pair this end-to-end solution with our expert-led back-office investigation team in one turnkey managed service. Scalable for institutions of all sizes, Quavo’s solutions reduce losses, ensure compliance, and enhance customer loyalty. Learn more at www.quavo.com.

    Media Contact:
    Julia Lum
    PR & Events Manager
    Julia.Lum@quavo.com

    The MIL Network –

  • MIL-OSI: Axi Celebrates 5th $1 Million Funded Trader, Marks $5M+ Payout Milestone for 2025

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, July 29, 2025 (GLOBE NEWSWIRE) — Global broker Axi proudly announces a major milestone in its trader funding program, Axi Select, as it celebrates its 5th $1 million funded trader, and surpasses $5 million in profit payouts year-to-date.

    The latest trader to reach the $1 million mark is Yoleny G, a trader who identifies as a proud wife and mother of two. Her achievement is particularly significant as she becomes the 5th trader to reach this milestone with Axi. Yoleny’s accomplishment is not only a testament of her trading discipline but also marks a personal goal on her path to Axi’s elite Pro M stage.

    “I’m incredibly proud of my achievement. Reaching $1 million funded status has been a personal mission, and this is just the beginning.” – Yoleny G.

    Yoleny joins an elite group of traders who have reached the $1 million funding threshold under the Axi Select program. The first two Pro M traders recently came together for an exclusive visit to Axi’s global headquarters in Sydney, where they shared insights, met the Axi team, and celebrated their collective success.

    The Axi Select community has rapidly grown to over 30,000 members, making it one of the most dynamic traders funded ecosystems globally. Axi’s recent collaboration with Bloomberg further reinforces its commitment to providing high-quality resources, transparency, and market insight for retail traders striving to reach the next level of their trading journey.

    As of July 2025, Axi has paid out over $7.6million to funded traders, with one standout individual earning $108,879.66 in May alone.

    This milestone reflects Axi’s continued focus on empowering skilled traders with real opportunities to grow, backed by capital, education and access to key trading tools. As Axi continues to expand the Axi Select program and its global trading community, milestones like these reinforce the company’s commitment to providing serious traders with the tools, capital, and support they need to succeed. With more traders advancing toward higher funding levels and new initiatives on the horizon, Axi remains focused on being a market leader in this space.

    About Axi

    Axi is a global online FX and CFD trading company, with thousands of customers in 100+ countries worldwide. Axi offers CFDs for several asset classes including Forex, Shares, Gold, Oil, Coffee, and more.

    For more information or additional comments from Axi, please contact: mediaenquiries@axi.com

    The Axi Select program is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content may not be available in your region. For more information, refer to our Terms of Service. Standard trading fees and minimum deposit apply.

    The MIL Network –

  • MIL-OSI: Coastal Financial Corporation Announces Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    EVERETT, Wash., July 29, 2025 (GLOBE NEWSWIRE) — Coastal Financial Corporation (Nasdaq: CCB) (the “Company”, “Coastal”, “we”, “our”, or “us”), the holding company for Coastal Community Bank (the “Bank”), through which it operates a community-focused bank segment (“community bank”) with an industry leading banking as a service (“BaaS”) segment (“CCBX”), today reported unaudited financial results for the quarter ended June 30, 2025, including net income of $11.0 million, or $0.71 per diluted common share, compared to $9.7 million, or $0.63 per diluted common share, for the three months ended March 31, 2025 and $11.6 million, or $0.84 per diluted common share, for the three months ended June 30, 2024.

    Management Discussion of the Second Quarter Results

    “Second quarter of 2025 saw a lower provision for credit losses as a result of an improvement in the performance of the CCBX portfolio and our focus on originating higher quality CCBX loans resulting in lower historical loss factors. Noninterest expenses were fairly flat compared to last quarter related to continued onboarding and implementation costs for partnerships and products within CCBX and investments in technology. We believe these investments are important to the long-term success and scalability of the Company,” stated CEO Eric Sprink. “We had another quarter of quality deposit growth of $122.3 million during the second quarter, and our CCBX program fee income, excluding nonrecurring revenue, increased 8.2% compared to the prior quarter.”

    Key Points for Second Quarter and Our Go-Forward Strategy

    • CCBX Making Progress on Launching New Programs. As of June 30, 2025 we had two partners in testing, two in implementation/onboarding, five signed letters of intent (LOI) and we have an active pipeline of new partners along with new products with existing partners for the balance of 2025 and into 2026. Total BaaS program fee income was $6.8 million, excluding $504,000 in nonrecurring revenue, for the three months ended June 30, 2025, an increase of $512,000, or 8.2%, from the three months ended March 31, 2025. We continue to have contracts with our partners that fully indemnify us against fraud and 98.8% against credit risk as of June 30, 2025.
    • Continued Investments in Future Growth. Total noninterest expense of $72.8 million was up $843,000, or 1.2%, as compared to $72.0 million in the quarter ended March 31, 2025, mainly driven by higher data processing and software costs partially offset by lower legal and professional expenses. With the increase in new CCBX partners and the launch of products with existing partners in 2025, we expect that expenses will be predominantly incurred at the outset, emphasizing compliance and operational risk management. This will occur before the new programs or products start to produce revenue. As a result, we believe expense growth should moderate considerably in the second half of 2025, with new programs or products starting to produce revenue to offset the initial up-front expenses.
    • Favorable Trends On, and Off Balance Sheet. Average deposits were $3.93 billion, an increase of $221.6 million, or 6.0%, over the quarter ended March 31, 2025, driven primarily by growth in CCBX partner programs and the addition of a new deposit partner. During the second quarter of 2025, we sold $1.30 billion of loans, the majority of which were credit card receivables. We retain a portion of the fee income on sold credit card loans. As of June 30, 2025 there were 313,827 off balance sheet credit cards with fee earning potential, an increase of 76,803 compared to the quarter ended March 31, 2025 and an increase of 286,146 from June 30, 2024.

    Second Quarter 2025 Financial Highlights

    The tables below outline some of our key operating metrics.

      Three Months Ended
    (Dollars in thousands, except share and per share data; unaudited) June 30,
    2025    		   March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024
    Income Statement Data:                  
    Interest and dividend income $ 107,797     $ 104,907     $ 102,448     $ 105,165     $ 97,422  
    Interest expense   31,060       28,845       30,071       32,892       31,250  
    Net interest income   76,737       76,062       72,377       72,273       66,172  
    Provision for credit losses   32,211       55,781       61,867       70,257       62,325  
    Net interest income after
    provision for credit losses    		   44,526       20,281       10,510       2,016       3,847  
    Noninterest income   42,693       63,477       74,100       78,790       69,138  
    Noninterest expense   72,832       71,989       67,411       64,424       57,964  
    Provision for income tax   3,359       2,039       3,832       2,926       3,425  
    Net income $ 11,028     $ 9,730     $ 13,367     $ 13,456     $ 11,596  
                       
      As of and for the Three Month Period
      June 30,
    2025    		   March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024
    Balance Sheet Data:                  
    Cash and cash equivalents $ 719,759     $ 624,302     $ 452,513     $ 484,026     $ 487,245  
    Investment securities   45,577       46,991       47,321       48,620       49,213  
    Loans held for sale   60,474       42,132       20,600       7,565       —  
    Loans receivable   3,540,330       3,517,359       3,486,565       3,413,894       3,321,813  
    Allowance for credit losses   (164,794 )     (183,178 )     (176,994 )     (171,674 )     (148,878 )
    Total assets   4,480,559       4,339,282       4,121,208       4,064,472       3,959,549  
    Interest bearing deposits   3,358,216       3,251,599       3,057,808       3,047,861       2,949,643  
    Noninterest bearing deposits   555,355       539,630       527,524       579,427       593,789  
    Core deposits (1)   3,441,624       3,321,772       3,123,434       3,190,869       3,528,339  
    Total deposits   3,913,571       3,791,229       3,585,332       3,627,288       3,543,432  
    Total borrowings   47,960       47,923       47,884       47,847       47,810  
    Total shareholders’ equity $ 461,709     $ 449,917     $ 438,704     $ 331,930     $ 316,693  
                       
    Share and Per Share Data (2):                  
    Earnings per share – basic $ 0.73     $ 0.65     $ 0.97     $ 1.00     $ 0.86  
    Earnings per share – diluted $ 0.71     $ 0.63     $ 0.94     $ 0.97     $ 0.84  
    Dividends per share   —       —       —       —       —  
    Book value per share (3) $ 30.59     $ 29.98     $ 29.37     $ 24.51     $ 23.54  
    Tangible book value per share (4) $ 30.59     $ 29.98     $ 29.37     $ 24.51     $ 23.54  
    Weighted avg outstanding shares – basic   15,033,296       14,962,507       13,828,605       13,447,066       13,412,667  
    Weighted avg outstanding shares – diluted   15,447,923       15,462,041       14,268,229       13,822,270       13,736,508  
    Shares outstanding at end of period   15,093,036       15,009,225       14,935,298       13,543,282       13,453,805  
    Stock options outstanding at end of period   126,654       163,932       186,354       198,370       286,119  
                                           

    See footnotes that follow the tables below

      As of and for the Three Month Period
      June 30,
    2025    		   March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024
    Credit Quality Data:                  
    Nonperforming assets (5) to total assets   1.36 %     1.30 %     1.52 %     1.63 %     1.34 %
    Nonperforming assets (5) to loans receivable and OREO   1.72 %     1.60 %     1.80 %     1.94 %     1.60 %
    Nonperforming loans (5) to total loans receivable   1.72 %     1.60 %     1.80 %     1.94 %     1.60 %
    Allowance for credit losses to nonperforming loans   270.7 %     325.0 %     282.5 %     258.7 %     279.9 %
    Allowance for credit losses to total loans receivable   4.65 %     5.21 %     5.08 %     5.03 %     4.48 %
    Gross charge-offs $ 53,780     $ 53,686     $ 61,585     $ 53,305     $ 55,207  
    Gross recoveries $ 4,467     $ 5,486     $ 5,223     $ 4,516     $ 2,254  
    Net charge-offs to average loans (6)   5.54 %     5.57 %     6.56 %     5.60 %     6.54 %
                       
    Capital Ratios:                  
    Company                  
    Tier 1 leverage capital   10.39 %     10.67 %     10.78 %     8.40 %     8.31 %
    Common equity Tier 1 risk-based capital   12.32 %     12.13 %     12.04 %     9.24 %     9.03 %
    Tier 1 risk-based capital   12.41 %     12.22 %     12.14 %     9.34 %     9.13 %
    Total risk-based capital   14.90 %     14.73 %     14.67 %     11.89 %     11.70 %
    Bank                  
    Tier 1 leverage capital   10.33 %     10.57 %     10.64 %     9.29 %     9.24 %
    Common equity Tier 1 risk-based capital   12.36 %     12.12 %     11.99 %     10.34 %     10.15 %
    Tier 1 risk-based capital   12.36 %     12.12 %     11.99 %     10.34 %     10.15 %
    Total risk-based capital   13.65 %     13.42 %     13.28 %     11.63 %     11.44 %
     
    (1) Core deposits are defined as all deposits excluding brokered and time deposits.
    (2) Share and per share amounts are based on total actual or average common shares outstanding, as applicable.
    (3) We calculate book value per share as total shareholders’ equity at the end of the relevant period divided by the outstanding number of our common shares at the end of each period.
    (4) Tangible book value per share is a non-GAAP financial measure. We calculate tangible book value per share as total shareholders’ equity at the end of the relevant period, less goodwill and other intangible assets, divided by the outstanding number of our common shares at the end of each period. The most directly comparable GAAP financial measure is book value per share. We had no goodwill or other intangible assets as of any of the dates indicated. As a result, tangible book value per share is the same as book value per share as of each of the dates indicated.
    (5) Nonperforming assets and nonperforming loans include loans 90+ days past due and accruing interest.
    (6) Annualized calculations.
     

    Key Performance Ratios

    Return on average assets (“ROA”) was 0.99% for the quarter ended June 30, 2025 compared to 0.93% and 1.21% for the quarters ended March 31, 2025 and June 30, 2024, respectively.  ROA for the quarter ended June 30, 2025, increased 0.06% and decreased 0.22% compared to March 31, 2025 and June 30, 2024, respectively. Noninterest expenses were slightly higher for the quarter ended June 30, 2025 compared to the quarter ended March 31, 2025 due to continued investments in growth, technology and risk management, partially offset by a decrease in legal and professional expenses. Noninterest expenses were higher than the quarter ended June 30, 2024 due primarily to an increase in salaries and employee benefits, data processing and software licenses and legal and professional expenses, all of which are related to the growth of Company and investments in technology and risk management.

    Yield on earning assets and yield on loans receivable decreased 0.40% and 0.22%, respectively, for the quarter ended June 30, 2025 compared to the quarter ended March 31, 2025, largely due to a decrease in CCBX loan yield. Lower rate capital call lines increased $66.2 million, or 49.6%, compared to the quarter ended March 31, 2025. These loans bear a lower rate of interest, but have less credit risk due to the way the loans are structured compared to other commercial loans. Average loans receivable as of June 30, 2025 increased $56.1 million compared to March 31, 2025 as net CCBX loans continue to grow, despite selling $1.30 billion in CCBX loans during the quarter ended June 30, 2025.

    The quarter over quarter volatility in the efficiency ratio and noninterest income to average asset performance metrics was driven by a higher-quality CCBX loan-mix from a credit quality perspective, which effectively reduced the credit enhancement required within non-interest income due to lower net-charge off activity as a percent of total loans which lowered our provision expense. These items have a neutral impact to net income although impacted the quarter-to-quarter metrics due to lower reported noninterest income. Additionally, results for the three months ended June 30, 2025 also included a net $439,000 loss on equity securities due to the re-valuation of a privately held equity stake, which CCB reviews quarterly. Management doesn’t believe the write-down is indicative of longer-term concerns of the portfolio company’s health at this time.

    The following table shows the Company’s key performance ratios for the periods indicated.  

        Three Months Ended
    (unaudited)   June 30,
    2025    		   March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024
                         
    Return on average assets (1)   0.99 %   0.93 %   1.30 %   1.34 %   1.21 %
    Return on average equity (1)   9.72 %   8.91 %   14.90 %   16.67 %   15.22 %
    Yield on earnings assets (1)   9.92 %   10.32 %   10.24 %   10.79 %   10.49 %
    Yield on loans receivable (1)   11.11 %   11.33 %   11.12 %   11.44 %   11.22 %
    Cost of funds (1)   3.13 %   3.11 %   3.24 %   3.62 %   3.60 %
    Cost of deposits (1)   3.10 %   3.08 %   3.21 %   3.59 %   3.58 %
    Net interest margin (1)   7.06 %   7.48 %   7.23 %   7.42 %   7.12 %
    Noninterest expense to average assets (1)   6.52 %   6.87 %   6.54 %   6.42 %   6.05 %
    Noninterest income to average assets (1)   3.82 %   6.06 %   7.19 %   7.85 %   7.22 %
    Efficiency ratio   60.98 %   51.59 %   46.02 %   42.65 %   42.84 %
    Loans receivable to deposits (2)   92.01 %   93.89 %   97.82 %   94.33 %   93.75 %
     
    (1) Annualized calculations shown for quarterly periods presented.
    (2) Includes loans held for sale.
     

    Management Outlook; CEO Eric Sprink

    “As we look to the latter half of 2025 and beyond, we expect to see additional new partner engagements, given that our CCBX pipeline remains strong with high-quality opportunities. We are committed to continuing to invest in our technology and risk management infrastructure to support our growth in the BaaS sector which is expected to produce future efficiencies, automation and cost reductions as we grow. The improvement in the performance of the CCBX portfolio and lower historical loss factors within the CCBX portfolio are positive indicators that our risk reduction and credit improvement efforts are proving effective, alongside the fraud and credit indemnifications provided by our partners. Additionally, we saw an increase of $512,000, or 8.2%, from the three months ended March 31, 2025 in BaaS program income, excluding nonrecurring revenue, namely in transaction and interchange income. We anticipate this growth to continue in future periods as our partner activities expand and grow.” said CEO Eric Sprink.

    Coastal Financial Corporation Overview

    The Company has one main subsidiary, the Bank, which consists of three segments: CCBX, the community bank and treasury & administration.  The CCBX segment includes all of our BaaS activities, the community bank segment includes all community banking activities and the treasury & administration segment includes treasury management, overall administration and all other aspects of the Company.  

    CCBX Performance Update

    Our CCBX segment continues to evolve, and we have 29 relationships, at varying stages, including two partners in testing, two in implementation/onboarding, and five signed LOI as of June 30, 2025.  We continue to refine the criteria for CCBX partnerships, exploring relationships with larger and more established partners, with experienced management teams, existing customer bases and strong financial positions. We also will consider promising medium and smaller sized partners that align with our approach and terms including financial wherewithal and will continue to exit relationships where it makes sense for us to do so.

    While we explore relationships with new partners we continue to expand our product offerings with existing CCBX partners. As we become more proficient in the BaaS space we aim to cultivate new relationships that align with our long-term goals. We believe that a strategy of adding new partnerships and launching new products with existing partners allows us to expand and grow our customer base with a modest increase in regulatory risk given our operational history with them. Increases in partner activity/transaction counts is positively impacting noninterest income and we expect this trend to continue as current products grow and new products are introduced. We plan to continue selling loans as part of our strategy to balance partner and lending limits, and manage the loan portfolio and credit quality. We retain a portion of the fee income for our role in processing transactions on sold credit card loans, and will continue this strategy to provide an on-going revenue source with no on balance sheet risk or capital requirement.

    As we build our deposit base, we will be able to sweep deposits off and on the balance sheet as needed. This deposit sweep capability allows us to better manage liquidity and deposit programs. At June 30, 2025 we swept off $478.7 million in deposits for FDIC insurance and liquidity purposes. Robinhood has entered the production testing phase for its suite of deposit products, signaling continued momentum in our strategic partnership pipeline. Dave finalized production testing in Q2 and is poised to initiate its beta launch, expanding our footprint in digital banking solutions. The introduction of theses products are expected to diversify and grow deposits.

    The following table illustrates the activity and evolution in CCBX relationships for the periods presented.

      As of
    (unaudited) June 30, 2025 March 31,
    2025    		 June 30, 2024
    Active 20 19 19
    Friends and family / testing 2 2 1
    Implementation / onboarding 2 3 1
    Signed letters of intent 5 1 0
    Total CCBX relationships 29 25 21
     

    CCBX loans increased $29.5 million, or 1.8%, to $1.68 billion despite selling $1.30 billion in loans during the three months ended June 30, 2025. In accordance with the program agreement for one partner, we are responsible for losses on 5% of that portfolio. At June 30, 2025 the portion of that portfolio for which we are responsible represented $19.8 million in loans.

    The following table details the CCBX loan portfolio:

    CCBX   As of
        June 30, 2025   March 31, 2025   June 30, 2024
    (dollars in thousands; unaudited)   Balance   % to Total   Balance   % to Total   Balance   % to Total
    Commercial and industrial loans:                        
    Capital call lines   $ 199,675     11.9 %   $ 133,466     8.1 %   $ 109,133     7.7 %
    All other commercial & industrial loans     26,142     1.6       29,702     1.8       41,757     3.0  
    Real estate loans:                        
    Residential real estate loans     234,786     14.0       285,355     17.3       287,950     20.4  
    Consumer and other loans:                        
    Credit cards     533,925     31.8       532,775     32.2       549,241     39.0  
    Other consumer and other loans     686,321     40.7       670,026     40.6       422,136     29.9  
    Gross CCBX loans receivable     1,680,849     100.0 %     1,651,324     100.0 %     1,410,217     100.0 %
    Net deferred origination (fees) costs     (569 )         (498 )         (438 )    
    Loans receivable   $ 1,680,280         $ 1,650,826         $ 1,409,779      
    Loan Yield – CCBX (1)(2)     16.22 %         16.88 %         17.75 %    
     
    (1) CCBX yield does not include the impact of BaaS loan expense.  BaaS loan expense represents the amount paid or payable to partners for credit enhancements and originating & servicing CCBX loans. See reconciliation of the non-GAAP measures at the end of this earnings release for the impact of BaaS loan expense on CCBX loan yield.
    (2) Loan yield is annualized for the three months ended for each period presented and includes loans held for sale and nonaccrual loans.
     

    The increase in CCBX loans in the quarter ended June 30, 2025, includes an increase of $66.2 million, or 49.6%, in capital call lines as a result of normal balance fluctuations and business activities, a decrease of $50.6 million, or 17.7%, in residential real estate loans and an increase of $17.4 million or 1.5%, in other consumer and other loans. We continue to monitor and manage the CCBX loan portfolio, and sold $1.30 billion in CCBX loans during the quarter ended June 30, 2025 compared to sales of $744.6 million in the quarter ended March 31, 2025. We continue to reposition ourselves by managing CCBX credit and concentration levels in an effort to optimize our loan portfolio earnings and generate off balance sheet fee income. CCBX loan yield decreased 0.67% for the quarter ended June 30, 2025 compared to the quarter ended March 31, 2025 as a result of an increase in lower rate capital call lines and overall mix of loans compared to the quarter ended March 31, 2025, these loans bear a lower rate of interest, but have less credit risk due to the way the loans are structured compared to other commercial loans.

    The following chart shows the growth in credit card accounts that generate fee income. This includes accounts with balances, which are included in our loan totals, and accounts that have been sold and have no corresponding balance in our loan totals, and that generate fee income.

    The following chart shows the growth in active CCBX debit cards which are sources of interchange income.

    The following table details the CCBX deposit portfolio:

    CCBX   As of
        June 30, 2025   March 31, 2025   June 30, 2024
    (dollars in thousands; unaudited)   Balance   % to Total   Balance   % to Total   Balance   % to Total
    Demand, noninterest bearing   $ 60,448     2.6 %   $ 58,416     2.6 %   $ 62,234     3.0 %
    Interest bearing demand and
    money market    		     2,231,159     94.5       2,145,608     94.6       1,989,105     96.7  
    Savings     51,523     2.2       16,625     0.7       5,150     0.3  
    Total core deposits     2,343,130     99.3       2,220,649     97.9       2,056,489     100.0  
    Other deposits     17,013     0.7       46,359     2.1       —     —  
    Total CCBX deposits   $ 2,360,143     100.0 %   $ 2,267,008     100.0 %   $ 2,056,489     100.0 %
    Cost of deposits (1)     3.96 %         4.01 %         4.92 %    
     
    (1) Cost of deposits is annualized for the three months ended for each period presented.
     

    CCBX deposits increased $93.1 million, or 4.1%, in the three months ended June 30, 2025 to $2.36 billion as a result of growth and normal balance fluctuations. This excludes the $478.7 million in CCBX deposits that were transferred off balance sheet for increased Federal Deposit Insurance Corporation (“FDIC”) insurance coverage and sweep purposes, compared to $406.3 million for the quarter ended March 31, 2025. Amounts in excess of FDIC insurance coverage are transferred, using a third-party facilitator/vendor sweep product, to participating financial institutions.

    Community Bank Performance Update

    In the quarter ended June 30, 2025, the community bank saw net loans decrease $6.5 million, or 0.3%, to $1.86 billion, as a result of normal balance fluctuations.

    The following table details the Community Bank loan portfolio:

    Community Bank   As of
        June 30, 2025   March 31, 2025   June 30, 2024
    (dollars in thousands; unaudited)   Balance   % to Total   Balance   % to Total   Balance   % to Total
    Commercial and industrial loans   $ 149,926     8.0 %   $ 149,104     8.0 %   $ 144,436     7.5 %
    Real estate loans:                        
    Construction, land and land development loans     194,150     10.4       166,551     8.9       173,064     9.0  
    Residential real estate loans     198,844     10.7       202,920     10.8       229,639     12.0  
    Commercial real estate loans     1,310,882     70.2       1,340,647     71.6       1,357,979     70.8  
    Consumer and other loans:                        
    Other consumer and other loans     12,230     0.7       13,326     0.7       14,220     0.7  
    Gross Community Bank loans receivable     1,866,032     100.0 %     1,872,548     100.0 %     1,919,338     100.0 %
    Net deferred origination fees     (5,982 )         (6,015 )         (7,304 )    
    Loans receivable   $ 1,860,050         $ 1,866,533         $ 1,912,034      
    Loan Yield(1)     6.53 %         6.53 %         6.52 %    
     
    (1) Loan yield is annualized for the three months ended for each period presented and includes loans held for sale and nonaccrual loans.
     

    Community bank loan categories decreased $29.8 million in commercial real estate loans and $1.1 million in consumer and other loans, partially offset by an increase of $27.6 million in construction, land and land development loans and $822,000 in commercial and industrial loans, during the quarter ended June 30, 2025.

    The following table details the community bank deposit portfolio:

    Community Bank   As of
        June 30, 2025   March 31, 2025   June 30, 2024
    (dollars in thousands; unaudited)   Balance   % to Total   Balance   % to Total   Balance   % to Total
    Demand, noninterest bearing   $ 494,907     31.9 %   $ 481,214     31.5 %   $ 531,555     35.7 %
    Interest bearing demand and
    money market    		     545,655     35.1       560,416     36.8       876,668     59.0  
    Savings     57,933     3.7       59,493     3.9       63,627     4.3  
    Total core deposits     1,098,495     70.7       1,101,123     72.2       1,471,850     99.0  
    Other deposits     440,975     28.4       407,391     26.7       1     0.0  
    Time deposits less than $100,000     5,299     0.3       5,585     0.4       6,741     0.5  
    Time deposits $100,000 and over     8,659     0.6       10,122     0.7       8,351     0.5  
    Total Community Bank deposits   $ 1,553,428     100.0 %   $ 1,524,221     100.0 %   $ 1,486,943     100.0 %
    Cost of deposits(1)     1.77 %         1.76 %         1.77 %    
     
    (1)  Cost of deposits is annualized for the three months ended for each period presented.
     

    Community bank deposits increased $29.2 million, or 1.9%, during the three months ended June 30, 2025 to $1.55 billion. The community bank segment includes noninterest bearing deposits of $494.9 million, or 31.9%, of total community bank deposits, resulting in a cost of deposits of 1.77%, which compared to 1.76% for the quarter ended March 31, 2025.

    Net Interest Income and Margin Discussion

    Net interest income was $76.7 million for the quarter ended June 30, 2025, an increase of $675,000, or 0.9%, from $76.1 million for the quarter ended March 31, 2025, and an increase of $10.6 million, or 16.0%, from $66.2 million for the quarter ended June 30, 2024. Net interest income compared to March 31, 2025, was higher due to an increase in average loans receivable. The increase in net interest income compared to June 30, 2024 was largely related to growth in loans receivable and a reduction in cost of funds as a result of lower interest rates.  

    Net interest margin was 7.06% for the three months ended June 30, 2025, compared to 7.48% for the three months ended March 31, 2025, due primarily to a decrease in loan yield. Net interest margin, net of BaaS loan expense, (a reconciliation of the non-GAAP measures are set forth in the Non-GAAP Financial Measures section of this earnings release) was 4.07% for the three months ended June 30, 2025, compared to 4.28% for the three months ended March 31, 2025. Net interest margin was 7.12% for the three months ended June 30, 2024. The decrease in net interest margin for the three months ended June 30, 2025 compared to the three months ended June 30, 2024 was largely due to a decrease in loan yield, partially offset by lower cost of funds. The $66.2 million of growth in lower rate capital call lines and overall mix of loans contributed to the decrease in net interest margin for the three months ended June 30, 2025. Capital call lines grew 49.6% quarter-over-quarter to $199.7 million, or 11.9% of total CCBX loans versus 8.1% in the prior quarter. These loans carry a lower interest rate, but also lower credit costs.

    Interest and fees on loans receivable increased $720,000, or 0.7%, to $98.9 million for the three months ended June 30, 2025, compared to $98.1 million for the three months ended March 31, 2025, as a result of loan growth. Interest and fees on loans receivable increased $8.0 million, or 8.8%, compared to $90.9 million for the three months ended June 30, 2024, due to an increase in outstanding balances. Net interest margin, net of BaaS loan expense (a reconciliation of the non-GAAP measures are set forth in the Non-GAAP Financial Measures section of this earnings release) decreased 0.21% for the three months ended June 30, 2025, compared to the three months ended March 31, 2025 and increased 0.07% compared the three months ended June 30, 2024.

    The following tables illustrate how net interest margin and loan yield is affected by BaaS loan expense:

    Consolidated   As of and for the Three Months Ended
    (dollars in thousands; unaudited)   June 30
    2025    		   March 31
    2025    		   June 30
    2024
    Net interest margin, net of BaaS loan expense:        
    Net interest margin (1)     7.06 %     7.48 %     7.12 %
    Earning assets     4,356,591       4,124,065       3,736,579  
    Net interest income (GAAP)     76,737       76,062       66,172  
    Less: BaaS loan expense     (32,483 )     (32,507 )     (29,011 )
    Net interest income, net of BaaS loan expense(2)   $ 44,254     $ 43,555     $ 37,161  
    Net interest margin, net of BaaS loan expense (1)(2)     4.07 %     4.28 %     4.00 %
    Loan income net of BaaS loan expense divided by average loans:    
    Loan yield (GAAP)(1)     11.11 %     11.33 %     11.22 %
    Total average loans receivable   $ 3,567,823     $ 3,511,724     $ 3,258,042  
    Interest and earned fee income on loans (GAAP)     98,867       98,147       90,879  
    BaaS loan expense     (32,483 )     (32,507 )     (29,011 )
    Net loan income(2)   $ 66,384     $ 65,640     $ 61,868  
    Loan income, net of BaaS loan expense, divided by average loans (1)(2)     7.46 %     7.58 %     7.64 %
     
    (1) Annualized calculations shown for periods presented.
    (2) A reconciliation of the non-GAAP measures are set forth at the end of this earnings release.
     

    Average investment securities decreased $900,000 to $46.3 million compared to the three months ended March 31, 2025 and decreased $3.5 million compared to the three months ended June 30, 2024 as a result of principal paydowns.

    Cost of funds was 3.13% for the quarter ended June 30, 2025, an increase of 2 basis points from the quarter ended March 31, 2025 and a decrease of 47 basis points from the quarter ended June 30, 2024. Cost of deposits for the quarter ended June 30, 2025 was 3.10%, compared to 3.08% for the quarter ended March 31, 2025, and 3.58% for the quarter ended June 30, 2024. The decreased cost of funds and deposits compared to June 30, 2024 were largely due to the reductions in the Fed funds rate in 2024.

    The following table summarizes the average yield on loans receivable and cost of deposits:

      For the Three Months Ended
      June 30, 2025   March 31, 2025   June 30, 2024
      Yield on
    Loans (2)    		   Cost of
    Deposits (2)    		   Yield on
    Loans (2)    		   Cost of
    Deposits (2)    		   Yield on
    Loans (2)    		   Cost of
    Deposits (2)
    Community Bank 6.53 %   1.77 %   6.53 %   1.76 %   6.52 %   1.77 %
    CCBX (1) 16.22 %   3.96 %   16.88 %   4.01 %   17.75 %   4.92 %
    Consolidated 11.11 %   3.10 %   11.33 %   3.08 %   11.22 %   3.58 %
    (1) CCBX yield on loans does not include the impact of BaaS loan expense.  BaaS loan expense represents the amount paid or payable to partners for credit and fraud enhancements and originating & servicing CCBX loans. To determine Net BaaS loan income earned from CCBX loan relationships, the Company takes BaaS loan interest income and deducts BaaS loan expense to arrive at Net BaaS loan income which can be compared to interest income on the Company’s community bank loans. See reconciliation of the non-GAAP measures at the end of this earnings release for the impact of BaaS loan expense on CCBX loan yield.
    (2) Annualized calculations for periods presented.
     

    The following table illustrates how BaaS loan interest income is affected by BaaS loan expense resulting in net BaaS loan income and the associated yield:

        For the Three Months Ended
        June 30, 2025   March 31, 2025   June 30, 2024
    (dollars in thousands, unaudited)   Income / Expense   Income / expense divided by average CCBX loans (2)   Income / Expense   Income / expense divided by average CCBX loans(2)   Income / Expense   Income / expense divided by average CCBX loans (2)
    BaaS loan interest income   $ 68,264   16.22 %   $ 67,855   16.88 %   $ 60,138   17.75 %
    Less: BaaS loan expense     32,483   7.72 %     32,507   8.09 %     29,011   8.56 %
    Net BaaS loan income (1)   $ 35,781   8.50 %   $ 35,348   8.79 %   $ 31,127   9.19 %
    Average BaaS Loans(3)   $ 1,688,492       $ 1,630,088       $ 1,362,343    
     
    (1) A reconciliation of the non-GAAP measures are set forth at the end of this earnings release.
    (2) Annualized calculations shown for the periods presented.
    (3) Includes loans held for sale.
     

    Noninterest Income Discussion

    Noninterest income was $42.7 million for the three months ended June 30, 2025, a decrease of $20.8 million from $63.5 million for the three months ended March 31, 2025, and a decrease of $26.4 million from $69.1 million for the three months ended June 30, 2024.  The decrease in noninterest income for the quarter ended June 30, 2025 as compared to the quarter ended March 31, 2025 was primarily due to a decrease of $20.6 million in total BaaS income.  The $20.6 million decrease in total BaaS income included a $22.4 million decrease in BaaS credit enhancements related to the decrease in provision for credit losses due to an improvement in the performance of the CCBX portfolio and our focus on originating higher quality CCBX loans resulting in lower historical loss factors, which had a favorable impact on the provision for credit losses, partially offset by an increase of $1.0 million in BaaS program income, which includes $504,000 in nonrecurring revenue, and a $811,000 increase in BaaS fraud enhancements. Results for the three months ended June 30, 2025 also included a net $439,000 loss on equity securities due to the re-valuation of a privately held equity stake, which we review quarterly. Management doesn’t believe the write-down is indicative of longer-term concerns of the portfolio company’s health at this time. The $1.0 million increase in BaaS program income is largely due to an increase in transaction and interchange fees and includes $504,000 in nonrecurring revenue (see “Appendix B” for more information on the accounting for BaaS allowance for credit losses and credit and fraud enhancements).

    The $26.4 million decrease in noninterest income over the quarter ended June 30, 2024 was primarily due to a $28.5 million decrease in BaaS credit and fraud enhancements due to improvement in the performance of the CCBX loan portfolio, partially offset by an increase of $2.0 million in BaaS program income, which includes $504,000 in nonrecurring revenue.

    Noninterest Expense Discussion

    Total noninterest expense increased $843,000 to $72.8 million for the three months ended June 30, 2025, compared to $72.0 million for the three months ended March 31, 2025, and increased $14.9 million from $58.0 million for the three months ended June 30, 2024. The $843,000 increase in noninterest expense for the quarter ended June 30, 2025, as compared to the quarter ended March 31, 2025, was primarily due to a $659,000 increase in data processing and software licenses, an $811,000 increase in BaaS fraud expense and a $74,000 increase in legal and professional fees, partially offset by a $414,000 decrease in other expenses, $119,000 decrease in occupancy expense, $81,000 decrease in salaries and employee benefits and a $24,000 decrease in BaaS loan expense. The increase in data processing and software licenses were part of our continued investments in growth, technology and risk management. BaaS loan expense represents the amount paid or payable to partners for credit enhancements, fraud enhancements, and originating & servicing CCBX loans. BaaS fraud expense represents non-credit fraud losses on partner’s customer loan and deposit accounts. A portion of this expense is realized during the quarter in which the loss occurs, and a portion is estimated based on historical or other information from our partners.

    The increase in noninterest expenses for the quarter ended June 30, 2025 compared to the quarter ended June 30, 2024 was largely due to a $4.4 million increase in salary and employee benefits, a $1.6 million increase in data processing and software licenses due to enhancements and investments in technology, and a $2.7 million increase in legal and professional expenses, all of which are related to the growth of Company and investments in technology and risk management. Also contributing to the the increase was a $3.5 million increase in BaaS loan expense and a $1.0 million increase in BaaS fraud expense.

    Certain noninterest expenses are reimbursed by our CCBX partners. In accordance with GAAP we recognize all expenses in noninterest expense and the reimbursement of expenses from our CCBX partner in noninterest income. The following table reflects the portion of noninterest expenses that are reimbursed by partners to assist in the understanding of how the increases in noninterest expense are related to expenses incurred and reimbursed by CCBX partners:

        Three Months Ended
        June 30,   March 31,   June 30,
    (dollars in thousands; unaudited)     2025       2025       2024  
    Total noninterest expense (GAAP)   $ 72,832     $ 71,989     $ 57,964  
    Less: BaaS loan expense     32,483       32,507       29,011  
    Less: BaaS fraud expense     2,804       1,993       1,784  
    Less: Reimbursement of expenses (BaaS)     646       1,026       857  
    Noninterest expense, net of BaaS loan expense, BaaS fraud expense
    and reimbursement of expenses (BaaS) (1)    		   $ 36,899     $ 36,463     $ 26,312  
     
    (1) A reconciliation of the non-GAAP measures are set forth at the end of this earnings release.
     

    Provision for Income Taxes

    The provision for income taxes was $3.4 million for the three months ended June 30, 2025, $2.0 million for the three months ended March 31, 2025 and $3.4 million for the second quarter of 2024.  The income tax provision as a percentage was higher for the three months ended June 30, 2025 compared to the quarter ended March 31, 2025 as a result of the higher net income and increase in state income tax rates, partially offset by the deductibility of certain equity awards, and was somewhat flat in dollar amount compared to the quarter ended June 30, 2024, but higher in tax rate.

    The Company is subject to various state taxes that are assessed as CCBX activities and employees expand into other states, which has increased the overall tax rate used in calculating the provision for income taxes in the current and future periods. The Company uses a federal statutory tax rate of 21.0% as a basis for calculating provision for federal income taxes and 5.14% for calculating the provision for state income taxes. The state rate increased in the quarter ended June 30, 2025 primarily as a result of a change in California’s tax laws.

    Financial Condition Overview

    Total assets increased $141.3 million, or 3.3%, to $4.48 billion at June 30, 2025 compared to $4.34 billion at March 31, 2025.  The increase is primarily comprised of a $95.5 million increase in cash and interest bearing deposits with other banks, a $23.0 million increase in loans receivable, and an $18.3 million increase in loans held for sale. Total loans receivable increased to $3.54 billion at June 30, 2025, from $3.52 billion at March 31, 2025.

    As of June 30, 2025, in addition to the $719.8 million in cash on hand the Company had the capacity to borrow up to a total of $642.7 million from the Federal Reserve Bank discount window and Federal Home Loan Bank, plus an additional $50.0 million from a correspondent bank. There were no borrowings outstanding on these lines as of June 30, 2025.

    The Company, on a stand alone basis, had a cash balance of $43.9 million as of June 30, 2025, a portion of which is retained for general operating purposes, including debt repayment, for funding $1.6 million in commitments to bank technology investment funds, with the remaining cash available to be contributed to the Bank as capital.  

    Uninsured deposits were $579.9 million as of June 30, 2025, compared to $558.8 million as of March 31, 2025.

    Total shareholders’ equity as of June 30, 2025 increased $11.8 million since March 31, 2025.  The increase in shareholders’ equity was primarily comprised of $11.0 million in net earnings combined with an increase of $764,000 in common stock outstanding as a result of equity awards exercised or vested during the three months ended June 30, 2025.

    The Company and the Bank remained well capitalized at June 30, 2025, as summarized in the following table.

    (unaudited)   Coastal Community Bank   Coastal Financial Corporation   Minimum Well Capitalized Ratios under Prompt Corrective Action (1)
    Tier 1 Leverage Capital (to average assets)   10.33 %   10.39 %   5.00 %
    Common Equity Tier 1 Capital (to risk-weighted assets)   12.36 %   12.32 %   6.50 %
    Tier 1 Capital (to risk-weighted assets)   12.36 %   12.41 %   8.00 %
    Total Capital (to risk-weighted assets)   13.65 %   14.90 %   10.00 %
     
    (1) Presents the minimum capital ratios for an insured depository institution, such as the Bank, to be considered well capitalized under the Prompt Corrective Action framework. The minimum requirements for the Company to be considered well capitalized under Regulation Y include to maintain, on a consolidated basis, a total risk-based capital ratio of 10.0 percent or greater and a tier 1 risk-based capital ratio of 6.0 percent or greater.
     

    Asset Quality

    The allowance for credit losses was $164.8 million and 4.65% of loans receivable at June 30, 2025 compared to $183.2 million and 5.21% at March 31, 2025 and $148.9 million and 4.48% at June 30, 2024. The allowance for credit loss allocated to the CCBX portfolio was $145.9 million and 8.68% of CCBX loans receivable at June 30, 2025, with $18.9 million of allowance for credit loss allocated to the community bank or 1.02% of total community bank loans receivable.

    The following table details the allocation of the allowance for credit loss as of the period indicated:

        As of June 30, 2025   As of March 31, 2025   As of June 30, 2024
    (dollars in thousands; unaudited)   Community Bank   CCBX   Total   Community Bank   CCBX   Total   Community Bank   CCBX   Total
    Loans receivable   $ 1,860,050     $ 1,680,280     $ 3,540,330     $ 1,866,533     $ 1,650,826     $ 3,517,359     $ 1,912,034     $ 1,409,779     $ 3,321,813  
    Allowance for
    credit losses    		     (18,936 )     (145,858 )     (164,794 )     (18,992 )     (164,186 )     (183,178 )     (21,046 )     (127,832 )     (148,878 )
    Allowance for
    credit losses to
    total loans
    receivable    		     1.02 %     8.68 %     4.65 %     1.02 %     9.95 %     5.21 %     1.10 %     9.07 %     4.48 %
                                                                             

    Net charge-offs totaled $49.3 million for the quarter ended June 30, 2025, compared to $48.2 million for the quarter ended March 31, 2025 and $53.0 million for the quarter ended June 30, 2024. Net charge-offs as a percent of average loans decreased to 5.54% for the quarter ended June 30, 2025 compared to 5.57% for the quarter ended March 31, 2025. CCBX partner agreements provide for a credit enhancement that covers the net-charge-offs on CCBX loans and negative deposit accounts by indemnifying or reimbursing incurred losses, except in accordance with the program agreement for one partner where the Company was responsible for credit losses on approximately 5% of a $296.3 million loan portfolio. At June 30, 2025, our portion of this portfolio represented $19.8 million in loans. Net charge-offs for this $19.8 million in loans were $1.3 million for the three months ended June 30, 2025, $1.1 million for the three months ended March 31, 2025 and $1.3 million for the three months ended June 30, 2024.

    The following table details net charge-offs for the community bank and CCBX for the period indicated:

        Three Months Ended
        June 30, 2025   March 31, 2025   June 30, 2024
    (dollars in thousands; unaudited)   Community Bank   CCBX   Total   Community Bank   CCBX   Total   Community Bank   CCBX   Total
    Gross charge-offs   $ 11     $ 53,769     $ 53,780     $ 4     $ 53,682     $ 53,686     $ 2     $ 55,205     $ 55,207  
    Gross recoveries     (2 )     (4,465 )     (4,467 )     (7 )     (5,479 )     (5,486 )     (4 )     (2,250 )     (2,254 )
    Net charge-offs   $ 9     $ 49,304     $ 49,313     $ (3 )   $ 48,203     $ 48,200     $ (2 )   $ 52,955     $ 52,953  
    Net charge-offs to
    average loans (1)    		     0.00 %     11.71 %     5.54 %     0.00 %     11.99 %     5.57 %     0.00 %     15.63 %     6.54 %
     
    (1) Annualized calculations shown for periods presented.
     

    During the quarter ended June 30, 2025, a $31.0 million provision for credit losses was recorded for CCBX partner loans, compared to the $54.3 million provision for credit losses was recorded for CCBX partner loans for the quarter ended March 31, 2025. The provision was based on management’s analysis, bringing the CCBX allowance for credit losses to $145.9 million at June 30, 2025 compared to $164.2 million at March 31, 2025. The decrease in the allowance is due to an improvement in the performance of the CCBX portfolio and our focus on originating higher quality CCBX loans resulting in lower historical loss factors. As we continue to originate higher quality loans, these become a greater proportion of the CCBX portfolio, resulting in an improvement in expected losses and a reduced allowance. In general, CCBX loans have a higher level of expected losses than our community bank loans, which is reflected in the factors for the allowance for credit losses. Agreements with our CCBX partners provide for a credit enhancement which protects the Bank by indemnifying or reimbursing incurred losses.

    In accordance with accounting guidance, we estimate and record a provision for expected losses for these CCBX loans and reclassified negative deposit accounts. When the provision for CCBX credit losses and provision for unfunded commitments is recorded, a credit enhancement asset is also recorded on the balance sheet through noninterest income (BaaS credit enhancements). Expected losses are recorded in the allowance for credit losses. The credit enhancement asset is relieved when credit enhancement recoveries are received from the CCBX partner. If our partner is unable to fulfill their contracted obligations then the Bank could be exposed to additional credit losses. Management regularly evaluates and manages this counterparty risk with our CCBX partners.

    The factors used in management’s analysis for community bank credit losses indicated that a provision recapture of $47,000 was needed for the quarter ended June 30, 2025 compared to a provision of $65,000 and a provision recapture of $341,000 for the quarters ended March 31, 2025 and June 30, 2024, respectively. The provision recapture in the current period was due to the lower outstanding balance in the community bank loan portfolio.

    The following table details the provision expense/(recapture) for the community bank and CCBX for the period indicated:

        Three Months Ended
    (dollars in thousands; unaudited)   June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024
    Community bank   $ (47 )   $ 65   $ (341 )
    CCBX     30,976       54,319     62,231  
    Total provision expense   $ 30,929     $ 54,384   $ 61,890  
     

    A provision for unfunded commitments of $1.5 million was recorded for the quarter ended June 30, 2025 as a result of a change in the loan mix of available balance. A provision for accrued interest receivable of $182,000 was recorded for the quarter ended June 30, 2025 on CCBX loans.

    At June 30, 2025, our nonperforming assets were $60.9 million, or 1.36%, of total assets, compared to $56.4 million, or 1.30%, of total assets, at March 31, 2025, and $53.2 million, or 1.34%, of total assets, at June 30, 2024. These ratios are impacted by nonperforming CCBX loans that are covered by CCBX partner credit enhancements. As of June 30, 2025, $55.3 million of the $57.0 million in nonperforming CCBX loans were covered by CCBX partner credit enhancements described above. Additionally, some CCBX partners have a collection practice that places certain loans on nonaccrual status to improve collectability. $20.1 million of these loans are less than 90 days past due as of June 30, 2025.

    Nonperforming assets increased $4.5 million during the quarter ended June 30, 2025, compared to the quarter ended March 31, 2025. Community bank nonperforming loans increased $3.7 million from March 31, 2025 to $3.8 million as of June 30, 2025, and CCBX nonperforming loans increased $847,000 to $57.0 million from March 31, 2025. The increase in CCBX nonperforming loans is due to an increase of $4.2 million in nonaccrual loans from March 31, 2025 to $24.4 million, partially offset by a $3.4 million decrease in CCBX loans that are past due 90 days or more and still accruing interest. As of June 30, 2025, $20.1 million in loans are under 90 days past due as a result of CCBX partners placing them on nonaccrual status to improve collectability. As a result of the type of loans (primarily consumer loans) originated through our CCBX partners we would typically anticipate that balances 90 days past due or more and still accruing will generally increase as those loan portfolios grow, therefore we believe the decrease in these past due CCBX loans is a positive performance indicator for the CCBX portfolio. Installment/closed-end and revolving/open-end consumer loans originated through CCBX lending partners will continue to accrue interest until 120 and 180 days past due, respectively and are reported as substandard, 90 days or more days past due and still accruing. There were no repossessed assets or other real estate owned at June 30, 2025. Our nonperforming loans to loans receivable ratio was 1.72% at June 30, 2025, compared to 1.60% at March 31, 2025, and 1.60% at June 30, 2024.

    For the quarter ended June 30, 2025, there were $9,000 in community bank net charge-offs and $49.3 million in net charge-offs were recorded on CCBX loans. These CCBX loans have a higher level of expected losses than our community bank loans, which is reflected in the factors for the allowance for credit losses.

    The following table details the Company’s nonperforming assets for the periods indicated.

    Consolidated As of
    (dollars in thousands; unaudited) June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024
    Nonaccrual loans:          
    Commercial and industrial loans $ 2,333     $ 381     $ —  
    Real estate loans:          
    Construction, land and land development   1,697       —       —  
    Residential real estate   —       —       213  
    Commercial real estate   —       —       7,731  
    Consumer and other loans:          
    Credit cards   20,140       13,602       —  
    Other consumer and other loans   4,063       6,376       —  
    Total nonaccrual loans   28,233       20,359       7,944  
    Accruing loans past due 90 days or more:          
    Commercial & industrial loans   926       782       1,278  
    Real estate loans:          
    Residential real estate loans   1,817       2,407       2,722  
    Consumer and other loans:          
    Credit cards   23,116       27,187       36,465  
    Other consumer and other loans   6,775       5,632       4,779  
    Total accruing loans past due 90 days or more   32,634       36,008       45,244  
    Total nonperforming loans   60,867       56,367       53,188  
    Real estate owned   —       —       —  
    Repossessed assets   —       —       —  
    Total nonperforming assets $ 60,867     $ 56,367     $ 53,188  
    Total nonaccrual loans to loans receivable   0.80 %     0.58 %     0.24 %
    Total nonperforming loans to loans receivable   1.72 %     1.60 %     1.60 %
    Total nonperforming assets to total assets   1.36 %     1.30 %     1.34 %
                           

    The following tables detail the CCBX and community bank nonperforming assets which are included in the total nonperforming assets table above.

    CCBX As of
    (dollars in thousands; unaudited) June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024
    Nonaccrual loans:          
    Commercial and industrial loans:          
    All other commercial & industrial loans $ 188     $ 192     $ —  
    Consumer and other loans:          
    Credit cards   20,140       13,602       —  
    Other consumer and other loans   4,063       6,376       —  
    Total nonaccrual loans   24,391       20,170       —  
    Accruing loans past due 90 days or more:          
    Commercial & industrial loans   926       782       1,278  
    Real estate loans:          
    Residential real estate loans   1,817       2,407       2,722  
    Consumer and other loans:          
    Credit cards   23,116       27,187       36,465  
    Other consumer and other loans   6,775       5,632       4,779  
    Total accruing loans past due 90 days or more   32,634       36,008       45,244  
    Total nonperforming loans   57,025       56,178       45,244  
    Other real estate owned   —       —       —  
    Repossessed assets   —       —       —  
    Total nonperforming assets $ 57,025     $ 56,178     $ 45,244  
    Total CCBX nonperforming assets to total consolidated assets   1.27 %     1.29 %     1.14 %
                           
    Community Bank As of
    (dollars in thousands; unaudited) June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024
    Nonaccrual loans:          
    Commercial and industrial loans $ 2,145     $ 189     $ —  
    Real estate:          
    Construction, land and land development   1,697       —       —  
    Residential real estate   —       —       213  
    Commercial real estate   —       —       7,731  
    Total nonaccrual loans   3,842       189       7,944  
    Accruing loans past due 90 days or more:          
    Total accruing loans past due 90 days or more   —       —       —  
    Total nonperforming loans   3,842       189       7,944  
    Other real estate owned   —       —       —  
    Repossessed assets   —       —       —  
    Total nonperforming assets $ 3,842     $ 189     $ 7,944  
    Total community bank nonperforming assets to total consolidated assets   0.09 %     — %     0.20 %
                           

    About Coastal Financial

    Coastal Financial Corporation (Nasdaq: CCB) (the “Company”), is an Everett, Washington based bank holding company whose wholly owned subsidiaries are Coastal Community Bank (“Bank”) and Arlington Olympic LLC.  The $4.48 billion Bank provides service through 14 branches in Snohomish, Island, and King Counties, the Internet and its mobile banking application.  The Bank provides banking as a service to digital financial service providers, companies and brands that want to provide financial services to their customers through the Bank’s CCBX segment.  To learn more about the Company visit www.coastalbank.com.

    CCB-ER

    Contact

    Eric Sprink, Chief Executive Officer, (425) 357-3659
    Joel Edwards, Executive Vice President & Chief Financial Officer, (425) 357-3687

    Forward-Looking Statements

    This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. Any statements about our management’s expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as “anticipate,” “believes,” “can,” “could,” “may,” “predicts,” “potential,” “should,” “will,” “estimate,” “plans,” “projects,” “continuing,” “ongoing,” “expects,” “intends” and similar words or phrases. Any or all of the forward-looking statements in this earnings release may turn out to be inaccurate. The inclusion of or reference to forward-looking information in this earnings release should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. We have based these forward looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Our actual results could differ materially from those anticipated in such forward-looking statements as a result of risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, the risk that changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs, may adversely impact our business, financial condition, and results of operations and those other risks and uncertainties discussed under “Risk Factors” in our Annual Report on Form 10-K for the most recent period filed and in any of our subsequent filings with the Securities and Exchange Commission.

    If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. You are cautioned not to place undue reliance on forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as required by law.

    COASTAL FINANCIAL CORPORATION
    CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
    (Dollars in thousands; unaudited)

    ASSETS
      June 30,
    2025    		   March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024
    Cash and due from banks $ 29,546     $ 43,467     $ 36,533     $ 45,327     $ 59,995  
    Interest earning deposits with other banks   690,213       580,835       415,980       438,699       427,250  
    Investment securities, available for sale, at fair value   33       34       35       38       39  
    Investment securities, held to maturity, at amortized cost   45,544       46,957       47,286       48,582       49,174  
    Other investments   12,521       12,589       10,800       10,757       10,664  
    Loans held for sale   60,474       42,132       20,600       7,565       —  
    Loans receivable   3,540,330       3,517,359       3,486,565       3,413,894       3,321,813  
    Allowance for credit losses   (164,794 )     (183,178 )     (176,994 )     (171,674 )     (148,878 )
    Total loans receivable, net   3,375,536       3,334,181       3,309,571       3,242,220       3,172,935  
    CCBX credit enhancement asset   167,779       183,377       181,890       173,600       149,096  
    CCBX receivable   13,009       12,685       14,138       16,060       11,520  
    Premises and equipment, net   29,052       28,639       27,431       25,833       24,526  
    Lease right-of-use assets   4,891       5,117       5,219       5,427       5,635  
    Accrued interest receivable   20,849       21,109       21,104       22,315       21,620  
    Bank-owned life insurance, net   13,648       13,501       13,375       13,255       13,132  
    Deferred tax asset, net   3,829       3,912       3,600       3,083       2,221  
    Other assets   13,635       10,747       13,646       11,711       11,742  
    Total assets $ 4,480,559     $ 4,339,282     $ 4,121,208     $ 4,064,472     $ 3,959,549  
                       
    LIABILITIES AND SHAREHOLDERS’ EQUITY
    LIABILITIES                  
    Deposits $ 3,913,571     $ 3,791,229     $ 3,585,332     $ 3,627,288     $ 3,543,432  
    Subordinated debt, net   44,368       44,331       44,293       44,256       44,219  
    Junior subordinated debentures, net   3,592       3,592       3,591       3,591       3,591  
    Deferred compensation   295       310       332       369       405  
    Accrued interest payable   954       1,107       962       1,070       999  
    Lease liabilities   5,063       5,293       5,398       5,609       5,821  
    CCBX payable   32,939       29,391       29,171       37,839       32,539  
    Other liabilities   18,068       14,112       13,425       12,520       11,850  
    Total liabilities   4,018,850       3,889,365       3,682,504       3,732,542       3,642,856  
    SHAREHOLDERS’ EQUITY                  
    Common Stock   230,423       229,659       228,177       134,769       132,989  
    Retained earnings   231,287       220,259       210,529       197,162       183,706  
    Accumulated other comprehensive
    loss, net of tax    		   (1 )     (1 )     (2 )     (1 )     (2 )
    Total shareholders’ equity   461,709       449,917       438,704       331,930       316,693  
    Total liabilities and shareholders’ equity $ 4,480,559     $ 4,339,282     $ 4,121,208     $ 4,064,472     $ 3,959,549  
     

    COASTAL FINANCIAL CORPORATION
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (Dollars in thousands, except per share amounts; unaudited)

      Three Months Ended
      June 30,
    2025    		   March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024
    INTEREST AND DIVIDEND INCOME                  
    Interest and fees on loans $ 98,867     $ 98,147   $ 95,575   $ 99,676   $ 90,879  
    Interest on interest earning deposits with
    other banks    		   8,085       6,070     6,021     4,781     5,683  
    Interest on investment securities   626       650     661     675     686  
    Dividends on other investments   219       40     191     33     174  
    Total interest income   107,797       104,907     102,448     105,165     97,422  
    INTEREST EXPENSE                  
    Interest on deposits   30,400       28,185     29,404     32,083     30,578  
    Interest on borrowed funds   660       660     667     809     672  
    Total interest expense   31,060       28,845     30,071     32,892     31,250  
    Net interest income   76,737       76,062     72,377     72,273     66,172  
    PROVISION FOR CREDIT LOSSES   32,211       55,781     61,867     70,257     62,325  
    Net interest income/(expense) after
    provision for credit losses    		   44,526       20,281     10,510     2,016     3,847  
    NONINTEREST INCOME                  
    Service charges and fees   913       860     932     952     946  
    Loan referral fees   —       —     —     —     —  
    Unrealized gain (loss) on equity securities,
    net    		   (439 )     16     1     2     9  
    Other income   853       682     473     486     257  
    Noninterest income, excluding BaaS program income and BaaS indemnification income   1,327       1,558     1,406     1,440     1,212  
    Servicing and other BaaS fees   1,539       1,419     1,043     1,044     1,525  
    Transaction and interchange fees   5,109       3,833     3,699     3,549     2,934  
    Reimbursement of expenses   646       1,026     812     565     857  
    BaaS program income   7,294       6,278     5,554     5,158     5,316  
    BaaS credit enhancements   31,268       53,648     62,097     70,108     60,826  
    BaaS fraud enhancements   2,804       1,993     5,043     2,084     1,784  
    BaaS indemnification income   34,072       55,641     67,140     72,192     62,610  
    Total noninterest income   42,693       63,477     74,100     78,790     69,138  
    NONINTEREST EXPENSE                  
    Salaries and employee benefits   21,401       21,482     17,955     17,060     16,973  
    Occupancy   915       1,034     958     964     985  
    Data processing and software licenses   5,541       4,882     4,049     4,338     3,977  
    Legal and professional expenses   5,962       5,888     4,606     3,597     3,311  
    Point of sale expense   69       107     89     73     72  
    Excise taxes   681       722     778     762     (706 )
    Federal Deposit Insurance Corporation
    (“FDIC”) assessments    		   790       755     750     740     690  
    Director and staff expenses   612       631     683     559     470  
    Marketing   50       50     28     67     14  
    Other expense   1,524       1,938     1,752     1,482     1,383  
    Noninterest expense, excluding BaaS loan and BaaS fraud expense   37,545       37,489     31,648     29,642     27,169  
    BaaS loan expense   32,483       32,507     30,720     32,698     29,011  
    BaaS fraud expense   2,804       1,993     5,043     2,084     1,784  
    BaaS loan and fraud expense   35,287       34,500     35,763     34,782     30,795  
    Total noninterest expense   72,832       71,989     67,411     64,424     57,964  
    Income before provision for income
    taxes    		   14,387       11,769     17,199     16,382     15,021  
    PROVISION FOR INCOME TAXES   3,359       2,039     3,832     2,926     3,425  
    NET INCOME $ 11,028     $ 9,730   $ 13,367   $ 13,456   $ 11,596  
    Basic earnings per common share $ 0.73     $ 0.65   $ 0.97   $ 1.00   $ 0.86  
    Diluted earnings per common share $ 0.71     $ 0.63   $ 0.94   $ 0.97   $ 0.84  
    Weighted average number of common shares
    outstanding:    		                  
    Basic   15,033,296       14,962,507     13,828,605     13,447,066     13,412,667  
    Diluted   15,447,923       15,462,041     14,268,229     13,822,270     13,736,508  
                                     

    COASTAL FINANCIAL CORPORATION
    AVERAGE BALANCES, YIELDS, AND RATES – QUARTERLY
    (Dollars in thousands; unaudited)

      For the Three Months Ended
      June 30, 2025   March 31, 2025   June 30, 2024
      Average
    Balance    		   Interest &
    Dividends    		   Yield /
    Cost (1)    		   Average
    Balance    		   Interest &
    Dividends    		   Yield /
    Cost (1)    		   Average
    Balance    		   Interest &
    Dividends    		   Yield /
    Cost (1)
    Assets                                  
    Interest earning assets:                                  
    Interest earning deposits with
    other banks    		 $ 729,652     $ 8,085   4.44 %   $ 553,393     $ 6,070   4.45 %   $ 418,165     $ 5,683   5.47 %
    Investment securities, available for sale (2)   35       —   —       37       1   10.96       43       —   —  
    Investment securities, held to maturity (2)   46,256       626   5.43       47,154       649   5.58       49,737       686   5.55  
    Other investments   12,825       219   6.85       11,757       40   1.38       10,592       174   6.61  
    Loans receivable (3)   3,567,823       98,867   11.11       3,511,724       98,147   11.33       3,258,042       90,879   11.22  
    Total interest earning assets   4,356,591       107,797   9.92       4,124,065       104,907   10.32       3,736,579       97,422   10.49  
    Noninterest earning assets:                                  
    Allowance for credit losses   (176,022 )             (170,542 )             (138,472 )        
    Other noninterest earning assets   298,698               296,993               255,205          
    Total assets $ 4,479,267             $ 4,250,516             $ 3,853,312          
                                       
    Liabilities and Shareholders’ Equity                                  
    Interest bearing liabilities:                                  
    Interest bearing deposits $ 3,369,574     $ 30,400   3.62 %   $ 3,166,384     $ 28,185   3.61 %   $ 2,854,575     $ 30,578   4.31 %
    FHLB advances and other borrowings   3       1   —       —       1   —       1,648       3   0.73  
    Subordinated debt   44,345       598   5.41       44,309       598   5.47       44,197       598   5.44  
    Junior subordinated debentures   3,592       61   6.81       3,592       61   6.89       3,590       71   7.95  
    Total interest bearing liabilities   3,417,514       31,060   3.65       3,214,285       28,845   3.64       2,904,010       31,250   4.33  
    Noninterest bearing deposits   562,174               543,784               584,661          
    Other liabilities   44,452               49,624               58,267          
    Total shareholders’ equity   455,127               442,823               306,374          
    Total liabilities and shareholders’ equity $ 4,479,267             $ 4,250,516             $ 3,853,312          
    Net interest income     $ 76,737           $ 76,062           $ 66,172    
    Interest rate spread         6.27 %           6.68 %           6.16 %
    Net interest margin (4)         7.06 %           7.48 %           7.12 %
     
    (1)  Yields and costs are annualized.
    (2)  For presentation in this table, average balances and the corresponding average rates for investment securities are based upon historical cost, adjusted for amortization of premiums and accretion of discounts.
    (3)  Includes loans held for sale and nonaccrual loans.
    (4)  Net interest margin represents net interest income divided by the average total interest earning assets.
     

    COASTAL FINANCIAL CORPORATION
    SELECTED AVERAGE BALANCES, YIELDS, AND RATES – BY SEGMENT – QUARTERLY
    (Dollars in thousands; unaudited)

      For the Three Months Ended
      June 30, 2025   March 31, 2025   June 30, 2024
    (dollars in thousands, unaudited) Average
    Balance    		   Interest &
    Dividends    		   Yield /
    Cost (1)    		   Average
    Balance    		   Interest &
    Dividends    		   Yield /
    Cost (1)    		   Average
    Balance    		   Interest &
    Dividends    		   Yield /
    Cost (1)
    Community Bank                                  
    Assets                                  
    Interest earning assets:                                  
    Loans receivable (2) $ 1,879,331   $ 30,603   6.53 %   $ 1,881,636   $ 30,292   6.53 %   $ 1,895,699   $ 30,741   6.52 %
    Total interest earning
    assets    		   1,879,331     30,603   6.53       1,881,636     30,292   6.53       1,895,699     30,741   6.52  
    Liabilities                                  
    Interest bearing liabilities:                                
    Interest bearing
    deposits    		   1,048,506     6,783   2.59 %     1,045,971     6,604   2.56 %     938,033     6,459   2.77 %
    Intrabank liability   342,232     3,792   4.44       356,337     3,909   4.45       429,452     5,836   5.47  
    Total interest bearing
    liabilities    		   1,390,738     10,575   3.05       1,402,308     10,513   3.04       1,367,485     12,295   3.62  
    Noninterest bearing
    deposits    		   488,593             479,329             528,214        
    Net interest income     $ 20,028           $ 19,779           $ 18,446    
    Net interest margin(3)         4.27 %           4.26 %           3.91 %
                                       
    CCBX                                  
    Assets                                  
    Interest earning assets:                                  
    Loans receivable (2)(4) $ 1,688,492   $ 68,264   16.22 %   $ 1,630,088   $ 67,855   16.88 %   $ 1,362,343   $ 60,138   17.75 %
    Intrabank asset   706,157     7,825   4.44       554,781     6,085   4.45       610,646     8,299   5.47  
    Total interest earning
    assets    		   2,394,649     76,089   12.74       2,184,869     73,940   13.72       1,972,989     68,437   13.95  
    Liabilities                                  
    Interest bearing liabilities:                            
    Interest bearing
    deposits    		   2,321,068     23,617   4.08 %     2,120,413     21,581   4.13 %     1,916,542     24,119   5.06 %
    Total interest bearing
    liabilities    		   2,321,068     23,617   4.08       2,120,413     21,581   4.13       1,916,542     24,119   5.06  
    Noninterest bearing
    deposits    		   73,581             64,455             56,447        
    Net interest income     $ 52,472           $ 52,359           $ 44,318    
    Net interest margin(3)         8.79 %           9.72 %           9.03 %
    Net interest margin, net
    of BaaS loan expense(5)    		         3.35 %           3.68 %           3.12 %
                                             
      For the Three Months Ended
      June 30, 2025   March 31, 2025   June 30, 2024
    (dollars in thousands, unaudited) Average
    Balance    		   Interest &
    Dividends    		   Yield /
    Cost (1)    		   Average
    Balance    		   Interest &
    Dividends    		   Yield /
    Cost (1)    		   Average
    Balance    		   Interest &
    Dividends    		   Yield /
    Cost (1)
    Treasury & Administration                            
    Assets                                  
    Interest earning assets:                                  
    Interest earning
    deposits with
    other banks    		 $ 729,652   $ 8,085   4.44 %   $ 553,393   $ 6,070   4.45 %   $ 418,165   $ 5,683   5.47 %
    Investment securities,
    available for sale (6)    		   35     —   —       37     1   10.96       43     —   3.13  
    Investment securities,
    held to maturity (6)    		   46,256     626   5.43       47,154     649   5.58       49,737     686   5.55  
    Other investments   12,825     219   6.85       11,757     40   1.38       10,592     174   6.61  
    Total interest
    earning assets    		   788,768     8,930   4.54 %     612,341 —   6,760   4.48 %     478,537     6,543   5.50 %
    Liabilities                                  
    Interest bearing
    liabilities:    		                                  
    FHLB advances
    and borrowings    		 $ 3     1   —     $ —     1   — %   $ 1,648     3   0.73 %
    Subordinated debt   44,345     598   5.41       44,309     598   5.47       44,197     598   5.44  
    Junior subordinated
    debentures    		   3,592     61   6.81       3,592     61   6.89       3,590     71   7.95  
    Intrabank liability, net (7)   363,925     4,033   4.44       198,444     2,176   4.45       181,194     2,463   5.47  
    Total interest
    bearing liabilities    		   411,865     4,693   4.57       246,345     2,836   4.67       230,629     3,135   5.47  
    Net interest income     $ 4,237           $ 3,924           $ 3,408    
    Net interest margin(3)         2.15 %           2.60 %           2.86 %
     
    (1) Yields and costs are annualized.
    (2) Includes loans held for sale and nonaccrual loans.
    (3) Net interest margin represents net interest income divided by the average total interest earning assets.
    (4) CCBX yield does not include the impact of BaaS loan expense. BaaS loan expense represents the amount paid or payable to partners for credit enhancements, fraud enhancements and originating & servicing CCBX loans. See reconciliation of the non-GAAP measures at the end of this earnings release for the impact of BaaS loan expense on CCBX loan yield.
    (5) Net interest margin, net of BaaS loan expense, includes the impact of BaaS loan expense. BaaS loan expense represents the amount paid or payable to partners for credit enhancements, fraud enhancements, originating & servicing CCBX loans. See reconciliation of the non-GAAP measures at the end of this earnings release.
    (6) For presentation in this table, average balances and the corresponding average rates for investment securities are based upon historical cost, adjusted for amortization of premiums and accretion of discounts.
    (7) Intrabank assets and liabilities are consolidated for period calculations and presented as intrabank asset, net or intrabank liability, net in the table above.
     

    Non-GAAP Financial Measures

    The Company uses certain non-GAAP financial measures to provide meaningful supplemental information regarding the Company’s operational performance and to enhance investors’ overall understanding of such financial performance.

    However, these non-GAAP financial measures are supplemental and are not a substitute for an analysis based on GAAP measures. As other companies may use different calculations for these adjusted measures, this presentation may not be comparable to other similarly titled adjusted measures reported by other companies.

    The following non-GAAP measures are presented to illustrate the impact of BaaS loan expense on net loan income and yield on loans and CCBX loans and the impact of BaaS loan expense on net interest income and net interest margin.

    Loan income, net of BaaS loan expense, divided by average loans, is a non-GAAP measure that includes the impact BaaS loan expense on loan income and the yield on loans. The most directly comparable GAAP measure is yield on loans.

    Net BaaS loan income divided by average CCBX loans is a non-GAAP measure that includes the impact BaaS loan expense on net BaaS loan income and the yield on CCBX loans. The most directly comparable GAAP measure is yield on CCBX loans.

    Net interest income, net of BaaS loan expense, is a non-GAAP measure that includes the impact BaaS loan expense on net interest income. The most directly comparable GAAP measure is net interest income.

    CCBX net interest margin, net of BaaS loan expense, is a non-GAAP measure that includes the impact of BaaS loan expense on net interest rate margin. The most directly comparable GAAP measure is CCBX net interest margin.

    Reconciliations of the GAAP and non-GAAP measures are presented below.

    CCBX   As of and for the Three Months Ended
    (dollars in thousands; unaudited)   June 30
    2025    		   March 31
    2025    		   June 30
    2024
    Net BaaS loan income divided by average CCBX loans:
    CCBX loan yield (GAAP)(1)     16.22 %     16.88 %     17.75 %
    Total average CCBX loans receivable   $ 1,688,492     $ 1,630,088     $ 1,362,343  
    Interest and earned fee income on CCBX loans (GAAP)     68,264       67,855       60,138  
    BaaS loan expense     (32,483 )     (32,507 )     (29,011 )
    Net BaaS loan income   $ 35,781     $ 35,348     $ 31,127  
    Net BaaS loan income divided by average CCBX loans (1)     8.50 %     8.79 %     9.19 %
    CCBX net interest margin, net of BaaS loan expense:        
    CCBX net interest margin (1)     8.79 %     9.72 %     9.03 %
    CCBX earning assets     2,394,649       2,184,869       1,972,989  
    Net interest income (GAAP)     52,472       52,359       44,318  
    Less: BaaS loan expense     (32,483 )     (32,507 )     (29,011 )
    Net interest income, net of BaaS
    loan expense    		   $ 19,989     $ 19,852     $ 15,307  
    CCBX net interest margin, net of BaaS loan expense (1)     3.35 %     3.68 %     3.12 %
     
    Consolidated   As of and for the Three Months Ended
    (dollars in thousands; unaudited)   June 30
    2025    		   March 31
    2025    		   June 30
    2024
    Net interest margin, net of BaaS loan expense:        
    Net interest margin (1)     7.06 %     7.48 %     7.12 %
    Earning assets     4,356,591       4,124,065       3,736,579  
    Net interest income (GAAP)     76,737       76,062       66,172  
    Less: BaaS loan expense     (32,483 )     (32,507 )     (29,011 )
    Net interest income, net of BaaS loan expense   $ 44,254     $ 43,555     $ 37,161  
    Net interest margin, net of BaaS loan expense (1)     4.07 %     4.28 %     4.00 %
    Loan income net of BaaS loan expense divided by average loans:    
    Loan yield (GAAP)(1)     11.11 %     11.33 %     11.22 %
    Total average loans receivable   $ 3,567,823     $ 3,511,724     $ 3,258,042  
    Interest and earned fee income on loans (GAAP)     98,867       98,147       90,879  
    BaaS loan expense     (32,483 )     (32,507 )     (29,011 )
    Net loan income   $ 66,384     $ 65,640     $ 61,868  
    Loan income, net of BaaS loan expense, divided by average loans (1)     7.46 %     7.58 %     7.64 %
     
    (1) Annualized calculations for periods presented.
     

    The following non-GAAP measure is presented to illustrate the impact of BaaS loan expense, BaaS fraud expense and reimbursement of expenses (BaaS) on noninterest expense. Certain noninterest expenses are reimbursed by our CCBX partners. In accordance with GAAP we recognize all expenses in noninterest expense and the reimbursement of expenses from our CCBX partner in noninterest income. This non-GAAP measure shows the portion of noninterest expenses that are reimbursed by partners to assist the understanding of how the increases in noninterest expense are related to expenses incurred for and reimbursed by CCBX partner. The most comparable GAAP measure is noninterest expense.

        As of and for the Three Months Ended
    (dollars in thousands, unaudited)   June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024
    Noninterest expense, net of reimbursement of expenses (BaaS)
    Noninterest expense (GAAP)   $ 72,832   $ 71,989   $ 57,964  
    Less: BaaS loan expense     32,483     32,507     29,011  
    Less: BaaS fraud expense     2,804     1,993     1,784  
    Less: Reimbursement of expenses     646     1,026     857  
    Noninterest expense, net of BaaS loan expense, BaaS fraud expense
    and reimbursement of expenses    		   $ 36,899   $ 36,463   $ 26,312  
     

    APPENDIX A –
    As of June 30, 2025

    Industry Concentration

    We have a diversified loan portfolio, representing a wide variety of industries. Our major categories of loans are commercial real estate, consumer and other loans, residential real estate, commercial and industrial, and construction, land and land development loans. Together they represent $3.55 billion in outstanding loan balances. When combined with $1.93 billion in unused commitments the total of these categories is $5.48 billion.

    Commercial real estate loans represent the largest segment of our loans, comprising 37.0% of our total balance of outstanding loans as of June 30, 2025. Unused commitments to extend credit represents an additional $30.1 million, and the combined total in commercial real estate loans represents $1.34 billion, or 24.5% of our total outstanding loans and loan commitments.

    The following table summarizes our loan commitment by industry for our commercial real estate portfolio as of June 30, 2025:

    (dollars in thousands; unaudited)   Outstanding Balance   Available Loan Commitments   Total Outstanding Balance & Available Commitment   % of Total Loans
    (Outstanding Balance &
    Available Commitment)    		   Average Loan Balance   Number of Loans  
    Apartments   $ 362,315   $ 2,889   $ 365,204   6.7 %   $ 3,814   95  
    Hotel/Motel     154,877     1,073     155,950   2.8       6,734   23  
    Convenience Store     135,118     546     135,664   2.5       2,290   59  
    Office     119,622     6,666     126,288   2.3       1,375   87  
    Warehouse     102,688     —     102,688   1.9       1,770   58  
    Retail     93,552     836     94,388   1.7       936   100  
    Mixed use     93,455     5,287     98,742   1.8       1,126   83  
    Mini Storage     73,695     7,272     80,967   1.5       3,685   20  
    Strip Mall     43,468     —     43,468   0.8       6,210   7  
    Manufacturing     35,274     570     35,844   0.7       1,306   27  
    Groups < 0.70% of total     96,818     4,938     101,756   1.8       1,226   79  
    Total   $ 1,310,882   $ 30,077   $ 1,340,959   24.5 %   $ 2,055   638  
     

    Consumer loans comprise 34.7% of our total balance of outstanding loans as of June 30, 2025. Unused commitments to extend credit represents an additional $746.8 million, and the combined total in consumer and other loans represents $1.98 billion, or 36.1% of our total outstanding loans and loan commitments. The $746.8 million in commitments is subject to CCBX partner/portfolio maximum limits. As illustrated in the table below, our CCBX partners bring in a large number of mostly smaller dollar loans, resulting in an average consumer loan balance of just $900. CCBX consumer loans are underwritten to CCBX credit standards and underwriting of these loans is regularly tested, including quarterly testing for partners with portfolio balances greater than $10.0 million.

    The following table summarizes our loan commitment by industry for our consumer and other loan portfolio as of June 30, 2025:

    (dollars in thousands; unaudited)     Outstanding Balance   Available Loan Commitments (1)   Total Outstanding Balance & Available Commitment (1)   % of Total Loans
    (Outstanding Balance &
    Available Commitment)    		   Average Loan Balance   Number of Loans  
    CCBX consumer loans
    Credit cards     $ 533,925   $ 702,611   $ 1,236,536   22.6 %   $ 1.6   337,749  
    Installment loans       671,089     30,817     701,906   12.8       0.8   796,927  
    Lines of credit       676     14     690   0.0       0.9   715  
    Other loans       14,556     —     14,556   0.3       0.1   240,653  
    Community bank consumer loans
    Installment loans       738     2     740   0.0       30.8   24  
    Lines of credit       178     339     517   0.0       5.7   31  
    Other loans       11,314     13,000     24,314   0.4       32.6   347  
    Total     $ 1,232,476   $ 746,783   $ 1,979,259   36.1 %   $ 0.9   1,376,446  
     
    (1)  Total exposure on CCBX loans is subject to CCBX partner/portfolio maximum limits.
     

    Residential real estate loans comprise 12.2% of our total balance of outstanding loans as of June 30, 2025. Unused commitments to extend credit represents an additional $557.7 million, which is subject to partner/portfolio maximum limits, and the combined total in residential real estate loans represents $991.3 million, or 18.1% of our total outstanding loans and loan commitments.

    The following table summarizes our loan commitment by industry for our residential real estate loan portfolio as of June 30, 2025:

    (dollars in thousands; unaudited)   Outstanding Balance   Available Loan Commitments (1)   Total Outstanding Balance & Available Commitment (1)   % of Total Loans
    (Outstanding Balance &
    Available Commitment)    		   Average Loan Balance   Number of Loans  
    CCBX residential real estate loans
    Home equity line of credit   $ 234,786   $ 509,297   $ 744,083   13.6 %   $ 27   8,735  
    Community bank residential real estate loans
    Closed end, secured by first liens     162,205     1,064     163,269   3.0       554   293  
    Home equity line of credit     30,328     46,270     76,598   1.4       122   249  
    Closed end, second liens     6,311     1,073     7,384   0.1       218   29  
    Total   $ 433,630   $ 557,704   $ 991,334   18.1 %   $ 47   9,306  
     
    (1)  Total exposure on CCBX loans is subject to CCBX partner/portfolio maximum limits. CCBX home equity lines of credit are limited to a $375.0 million portfolio maximum.
     

    Commercial and industrial loans comprise 10.6% of our total balance of outstanding loans as of June 30, 2025. Unused commitments to extend credit represents an additional $527.8 million, and the combined total in commercial and industrial loans represents $903.6 million, or 16.5% of our total outstanding loans and loan commitments. Included in commercial and industrial loans is $199.7 million in outstanding capital call lines, with an additional $438.4 million in available loan commitments which is limited to a $350.0 million portfolio maximum. Capital call lines are provided to venture capital firms through one of our CCBX BaaS clients. These loans are secured by the capital call rights and are individually underwritten to the Bank’s credit standards and the underwriting is reviewed by the Bank on every capital call line.

    The following table summarizes our loan commitment by industry for our commercial and industrial loan portfolio as of June 30, 2025:

    (dollars in thousands; unaudited)   Outstanding Balance   Available Loan Commitments (1)   Total Outstanding Balance & Available Commitment (1)   % of Total Loans
    (Outstanding Balance &
    Available Commitment)    		   Average Loan Balance   Number of Loans  
    CCBX C&I loans
    Capital call lines   $ 199,675   $ 438,391   $ 638,066   11.6 %   $ 1,597   125  
    Retail and other loans     26,142     23,001     49,143   0.9       9   2,915  
    Community bank C&I loans
    Construction/Contractor services     30,449     32,173     62,622   1.1       154   198  
    Financial institutions     51,768     —     51,768   0.9       4,314   12  
    Medical / Dental / Other care     5,496     3,683     9,179   0.2       423   13  
    Manufacturing     5,325     3,976     9,301   0.2       140   38  
    Groups < 0.20% of total     56,888     26,593     83,481   1.6       228   250  
    Total   $ 375,743   $ 527,817   $ 903,560   16.5 %   $ 106   3,551  
     
    (1) Total exposure on CCBX loans is subject to CCBX partner/portfolio maximum limits.
     

    Construction, land and land development loans comprise 5.5% of our total balance of outstanding loans as of June 30, 2025. Unused commitments to extend credit represents an additional $70.0 million, and the combined total in construction, land and land development loans represents $264.2 million, or 4.8% of our total outstanding loans and loan commitments.

    The following table details our loan commitment for our construction, land and land development portfolio as of June 30, 2025:

    (dollars in thousands; unaudited)   Outstanding Balance   Available Loan Commitments   Total Outstanding Balance & Available Commitment   % of Total Loans
    (Outstanding Balance &
    Available Commitment)    		   Average Loan Balance   Number of Loans  
    Commercial construction   $ 104,078   $ 48,309   $ 152,387   2.8 %   $ 7,434   14  
    Residential construction     39,831     17,340     57,171   1.0       2,655   15  
    Developed land loans     22,875     604     23,479   0.4       1,271   18  
    Undeveloped land loans     20,067     748     20,815   0.4       1,338   15  
    Land development     7,299     3,048     10,347   0.2       811   9  
    Total   $ 194,150   $ 70,049   $ 264,199   4.8 %   $ 2,735   71  
     

    Exposure and risk in our construction, land and land development portfolio increased compared to recent periods as indicated in the following table:

        Outstanding Balance as of
    (dollars in thousands; unaudited)   June 30,
    2025    		   March 31,
    2025    		   December 31,
    2024    		   September 30,
    2024    		   June 30,
    2024
    Commercial construction   $ 104,078     $ 96,716     $ 83,216     $ 97,792     $ 110,372  
    Residential construction     39,831       39,375       40,940       35,822       34,652  
    Undeveloped land loans     20,067       16,684       8,665       8,606       8,372  
    Developed land loans     22,875       7,788       8,305       14,863       13,954  
    Land development     7,299       5,988       7,072       5,968       5,714  
    Total   $ 194,150     $ 166,551     $ 148,198     $ 163,051     $ 173,064  
     

    Commitments to extend credit total $1.93 billion at June 30, 2025, however we do not anticipate our customers using the $1.93 billion that is showing as available due to CCBX partner and portfolio limits.

    The following table presents outstanding commitments to extend credit as of June 30, 2025:

    Consolidated    
    (dollars in thousands; unaudited)   As of June 30, 2025 (1)
    Commitments to extend credit:    
    Commercial and industrial loans   $ 89,426  
    Commercial and industrial loans – capital call lines     438,391  
    Construction – commercial real estate loans     52,709  
    Construction – residential real estate loans     17,340  
    Residential real estate loans     557,704  
    Commercial real estate loans     30,077  
    Credit cards     702,611  
    Consumer and other loans     44,172  
    Total commitments to extend credit   $ 1,932,430  
     
    (1) Total exposure on CCBX loans is subject to CCBX partner/portfolio maximum limits.
     

    We have individual CCBX partner portfolio limits with our each of our partners to manage loan concentration risk, liquidity risk, and counter-party partner risk. For example, as of June 30, 2025, capital call lines outstanding balance totaled $199.7 million and, while commitments totaled $438.4 million, the commitments are limited to a maximum of $350.0 million by agreement with the partner. If a CCBX partner goes over their individual limit, it would be a breach of their contract and the Bank may impose penalties and would have the choice to fund or not fund the loan.

    See the table below for CCBX portfolio maximums and related available commitments:

    CCBX                
    (dollars in thousands; unaudited)   Balance   Percent of CCBX loans receivable Available
    Commitments     (1)    		   Maximum Portfolio
    Size    		 Cash
    Reserve/Pledge Account Amount     (2)
    Commercial and industrial loans:            
    Capital call lines   $ 199,675     11.9 % $ 438,391   $ 350,000 $ —  
    All other commercial & industrial loans     26,142     1.6     23,001     471,186   531  
    Real estate loans:                
    Home equity lines of credit (3)     234,786     14.0     509,297     375,000   36,469  
    Consumer and other loans:            
    Credit cards – cash secured     364         —       —  
    Credit cards – unsecured     533,561         702,611       30,827  
    Credit cards – total     533,925     31.8     702,611     850,000   30,827  
    Installment loans – cash secured     128,861         30,817       —  
    Installment loans – unsecured     542,228         —       (38 )
    Installment loans – total     671,089     39.8     30,817     1,818,619   (38 )
    Other consumer and other loans     15,232     0.9     14     5,195   275  
    Gross CCBX loans receivable     1,680,849     100.0 % $ 1,704,131   $ 3,870,000 $ 68,064  
    Net deferred origination fees     (569 )            
    Loans receivable   $ 1,680,280              
     
    (1) Remaining commitment available, net of outstanding balance.
    (2) Balances are as of July 8, 2025.
    (3) These home equity lines of credit are secured by residential real estate and are accessed by using a credit card, but are classified as 1-4 family residential properties per regulatory guidelines.
     

    APPENDIX B –
    As of June 30, 2025

    CCBX – BaaS Reporting Information

    During the quarter ended June 30, 2025, $31.3 million was recorded in BaaS credit enhancements related to the provision for credit losses – loans and reserve for unfunded commitments for CCBX partner loans and negative deposit accounts. Agreements with our CCBX partners provide for a credit enhancement provided by the partner which protects the Bank by indemnifying or reimbursing incurred losses. In accordance with accounting guidance, we estimate and record a provision for expected losses for these CCBX loans, unfunded commitments, negative deposit accounts and accrued interest receivable on some CCBX partner loans. When the provision for credit losses – loans and provision for unfunded commitments is recorded, a credit enhancement asset is also recorded on the balance sheet through noninterest income (BaaS credit enhancements) in recognition of the CCBX partner legal commitment to indemnify or reimburse losses. The credit enhancement asset is relieved as credit enhancement payments and recoveries are received from the CCBX partner or taken from the partner’s cash reserve account. Agreements with our CCBX partners also provide protection to the Bank from fraud by indemnifying or reimbursing incurred fraud losses. BaaS fraud includes non-credit fraud losses on loans and deposits originated through partners, generally fraud losses related to loans are comprised primarily of first payment defaults. Fraud losses are recorded when incurred as losses in noninterest expense, and the enhancement received from the CCBX partner is recorded in noninterest income, resulting in a net impact of zero to the income statement. Many CCBX partners also pledge a cash reserve account at the Bank which the Bank can collect from when losses occur that is then replenished by the partner on a regular interval. Although agreements with our CCBX partners provide for credit enhancements that provide protection to the Bank from credit and fraud losses by indemnifying or reimbursing incurred credit and fraud losses, if our partner is unable to fulfill their contracted obligation then the bank would be exposed to additional loan and deposit losses if the cash flows on the loans were not sufficient to fund the reimbursement of loan losses, as a result of this counterparty risk. If a CCBX partner does not replenish their cash reserve account the Bank may consider an alternative plan for funding the cash reserve. This may involve the possibility of adjusting the funding amounts or timelines to better align with the partner’s specific situation. If a mutually agreeable funding plan is not agreed to, the Bank could declare the agreement in default, take over servicing and cease paying the partner for servicing the loan and providing credit enhancements. The Bank would evaluate any remaining credit enhancement asset from the CCBX partner in the event the partner failed to determine if a write-off is appropriate. If a write-off occurs, the Bank would retain the full yield and any fee income on the loan portfolio going forward, and our BaaS loan expense would decrease once default occurred and payments to the CCBX partner were stopped.

    The Bank records contractual interest earned from the borrower on CCBX partner loans in interest income, adjusted for origination costs which are paid or payable to the CCBX partner. BaaS loan expense represents the amount paid or payable to partners for credit and fraud enhancements and originating and servicing CCBX loans. To determine net revenue (Net BaaS loan income) earned from CCBX loan relationships, the Bank takes BaaS loan interest income and deducts BaaS loan expense to arrive at Net BaaS loan income (a reconciliation of the non-GAAP measures are set forth in the preceding section of this earnings release) which can be compared to interest income on the Company’s community bank loans.

    The following table illustrates how CCBX partner loan income and expenses are recorded in the financial statements:

    Loan income and related loan expense   Three Months Ended
    (dollars in thousands; unaudited)   June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024
    Yield on loans (1)     16.22 %     16.88 %     17.75 %
    BaaS loan interest income   $ 68,264     $ 67,855     $ 60,138  
    Less: BaaS loan expense     32,483       32,507       29,011  
    Net BaaS loan income (2)   $ 35,781     $ 35,348     $ 31,127  
    Net BaaS loan income divided by average BaaS loans (1)(2)     8.50 %     8.79 %     9.19 %
     
    (1) Annualized calculation for quarterly periods shown.
    (2) A reconciliation of the non-GAAP measures are set forth in the preceding section of this earnings release.
     

    An increase in average CCBX loans receivable resulted in increased interest income on CCBX loans during the quarter ended June 30, 2025 compared to the quarter ended March 31, 2025. Our strategy is to optimize the CCBX loan portfolio and strengthen our balance sheet through originating higher quality new loans with enhanced credit standards. These higher quality loans tend to have lower stated rates and expected losses than some of our CCBX loans historically. Current loan sales and new loan growth are at more similar interest rates compared to prior periods when we were selling loans with higher risk and higher interest rates and replacing them with higher quality lower interest rate loans. We continue to reposition ourselves by managing CCBX credit and concentration levels in an effort to optimize our loan portfolio and also generate off balance sheet fee income. Growth in CCBX loans has resulted in an increase in interest income for the quarter ended June 30, 2025 compared to the quarter ended June 30, 2024.

    The following tables are a summary of the interest components, direct fees and expenses of BaaS for the periods indicated and are not inclusive of all income and expense related to BaaS.

    Interest income   Three Months Ended
    (dollars in thousands; unaudited)   June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024
    Loan interest income   $ 68,264     $ 67,855     $ 60,138  
    Total BaaS interest income   $ 68,264     $ 67,855     $ 60,138  
    Interest expense   Three Months Ended
    (dollars in thousands; unaudited)   June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024
    BaaS interest expense   $ 23,617     $ 21,581     $ 24,119  
    Total BaaS interest expense   $ 23,617     $ 21,581     $ 24,119  
    BaaS income   Three Months Ended
    (dollars in thousands; unaudited)   June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024
    BaaS program income:            
    Servicing and other BaaS fees   $ 1,539   $ 1,419   $ 1,525  
    Transaction and interchange fees     5,109     3,833     2,934  
    Reimbursement of expenses     646     1,026     857  
    Total BaaS program income     7,294     6,278     5,316  
    BaaS indemnification income:            
    BaaS credit enhancements     31,268     53,648     60,826  
    BaaS fraud enhancements     2,804     1,993     1,784  
    BaaS indemnification income     34,072     55,641     62,610  
    Total noninterest BaaS income   $ 41,366   $ 61,919   $ 67,926  
     

    Servicing and other BaaS fees increased $120,000 and transaction and interchange fees increased $1.3 million in the quarter ended June 30, 2025 compared to the quarter ended March 31, 2025. We expect servicing and other BaaS fees to be higher when we are bringing new partners on and then to decrease when transaction and interchange fees increase as partner activity grows and contracted minimum fees are replaced with these recurring fees when they exceed the minimum fees. Increases in BaaS reimbursement of fees offsets increases in noninterest expense from BaaS expenses covered by CCBX partners. Transaction and interchange fees for the quarter ended June 30, 2025 includes $504,000 in nonrecurring revenue.

    BaaS loan and fraud expense:   Three Months Ended
    (dollars in thousands; unaudited)     June 30,
    2025    		       March 31,
    2025    		       June 30,
    2024    		  
    BaaS loan expense   $ 32,483     $ 32,507     $ 29,011  
    BaaS fraud expense     2,804       1,993       1,784  
    Total BaaS loan and fraud expense   $ 35,287     $ 34,500     $ 30,795  
     

    Infographics accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/6d139571-0367-4331-b052-e1609dd3796f
    https://www.globenewswire.com/NewsRoom/AttachmentNg/7fef1877-3f7a-47cc-99fa-0bcdfb00de42

    The MIL Network –

  • MIL-OSI Economics: ECB to adapt collateral framework to address climate-related transition risks

    Source: European Central Bank

    29 July 2025

    • Climate factor to protect Eurosystem against potential decline in value of collateral in event of adverse climate-related transition shocks
    • Measure to address forward-looking climate-related uncertainties, enhancing resilience of Eurosystem’s monetary policy implementation
    • Measure to apply to marketable assets issued by non-financial corporations, taking effect in second half of 2026

    The Governing Council of the European Central Bank (ECB) has decided to introduce a new measure within the collateral framework to better manage financial risks related to the climate crisis.

    The value of collateral from counterparties in the Eurosystem’s refinancing operations is sensitive to climate change-related uncertainties. Since the Eurosystem’s refinancing operations are a key instrument in maintaining price stability, the Governing Council has decided to introduce a “climate factor” which could reduce the value assigned to eligible assets pledged as collateral, depending on the extent to which an asset can be impacted by these uncertainties. This acts as a buffer against the possible financial impact of uncertainties related to climate change. It will complement the Eurosystem’s existing risk management toolbox by considering forward-looking climate scenario analyses and therefore improve the resilience of the Eurosystem’s monetary policy implementation. The calibration of the measure will preserve adequate collateral availability.

    The Governing Council has decided to introduce the climate factor focusing on marketable assets issued by non-financial corporations as well as their affiliated entities, and adverse events specifically associated with the green transition. The climate factor will apply to individual assets and its calibration will take into account sector-level data of non-financial corporation bonds in the 2024 climate stress test of the Eurosystem’s balance sheet[1], the issuer’s CSPP climate score and the asset’s residual maturity.

    This measure is due to be implemented in the second half of 2026. It will be regularly reviewed by the Governing Council to reflect the increasing availability of data and models, as well as relevant regulatory developments and advances in risk assessment capabilities.

    For media queries, please contact Clara Martín Marqués, tel.: +49 69 1344 17919.

    MIL OSI Economics –

  • MIL-Evening Report: Fiji ‘failing’ the Gaza genocide and humanity test, says rights group

    Asia Pacific Report

    The NGO Coalition on Human Rights in Fiji has sharply criticised the Fiji government’s stance over Israel’s genocide in Gaza, saying it “starkly contrasts” with the United Nations and international community’s condemnation as a violation of international law and an impediment to peace.

    In a statement today, the NGO Coalition said that the way the government was responding to the genocide and war crimes in Gaza would set a precedent for how it would deal with crises and conflict in future.

    It would be a marker for human rights responses both at home and the rest of the world.

    “We are now seeing whether our country will be a force that works to uphold human rights and international law, or one that tramples on them whenever convenient,” the statement said.

    “Fiji’s position on the genocide in Gaza and the occupation of Palestinians starkly contrasts with the values of justice, freedom, and international law that the Fijian people hold dear.

    “The genocide and colonial occupation have been widely recognised by the international community, including the United Nations, as a violation of international law and an impediment to peace and the self-determination of the Palestinian people.”

    Last week, French President Emmanuel Macron announced that France would formally recognise the state of Palestine — the first of G7 countries to do so — at the UN general Assembly in September.

    142 countries recognise Palestine
    At least 142 countries out of the 193 members of the UN currently recognise or plan to recognise a Palestinian state, including European Union members Norway, Ireland, Spain and Slovenia.

    However, several powerful Western countries have refused to do so, including the United States, the United Kingdom and Germany.

    At the UN this week, Saudi Arabia and France opened a three-day conference with the goal of recognising Palestinian statehood as part of a peaceful settlement to end the war in Gaza.

    Last year, Fiji’s coalition government submitted a written statement in support of the Israeli genocidal occupation of Palestine, including East Jerusalem, noted the NGO coalition.

    Last month, Fiji’s coalition government again voted against a UN General Assembly resolution that demanded an immediate, unconditional, and permanent ceasefire in Gaza.

    Also recently, the Fiji government approved the allocation of $1.12 million to establish an embassy “in the genocidal terror state of Israel as Fijians grapple with urgent issues, including poverty, violence against women and girls, deteriorating water and health infrastructure, drug use, high rates of HIV, poor educational outcomes, climate change, and unfair wages for workers”.

    Met with ‘indifference’
    The NGO coalition said that it had made repeated requests to the Fiji government to “do the bare minimum and enforce the basic tenets of international law on Israel”.

    “We have been calling upon the Fiji government to uphold the principles of peace, justice, and human rights that our nation cherishes,” the statement said.

    “We campaigned, we lobbied, we engaged, and we explained. We showed the evidence, pointed to the law, and asked our leaders to do the right thing.

    “We’ve been met with nothing but indifference.”

    Instead, said the NGO statement, Fiji leaders had met with Israeli government representatives and declared support for a country “committing the most heinous crimes” recognised in international law.

    “Fijian leaders and the Fiji government should not be supporting Israel or setting up an embassy in Israel while Israel continues to bomb refugee tents, kill journalists and medics, and block the delivery of humanitarian aid to a population under relentless siege.

    “No politician in Fiji can claim ignorance of what is happening.”

    62,000 Palestinians killed
    More than 62,000 Palestinians have been killed in the war on Gaza, most of them women and children.

    “Many more have been maimed, traumatised, and displaced. Starvation is being used by Israel as weapon to kill babies and children.

    “Hospitals, churches, mosques,, refugee camps, schools, universities, residential neighbourhoods, water and food facilities have been destroyed.

    “History will judge how we respond as Fijians to this moment.

    “Our rich cultural heritage and shared values teach us the importance of always standing up for what is right, even when it is not popular or convenient.”

    Members of the Fiji NGO Coalition on Human Rights are Fiji Women’s Crisis Centre (chair), Fiji Women’s Rights Movement, Citizens’ Constitutional Forum, femLINKpacific, Social Empowerment and Education Programme, and Diverse Voices and Action (DIVA) for Equality Fiji.

    Also, Pacific Network on Globalisation (PANG) is an observer.

    The NGO coalition said it stood in solidarity with the Palestinian people out of a shared belief in humanity, justice, and the inalienable human rights of every individual.

    “Silence is not an option,” it added.

    Fijians for Palestine Solidarity Network said it supported this NGO coalition statement.

    MIL OSI Analysis – EveningReport.nz –

  • India’s digital payments index rises sharply to 493.22, says RBI

    Source: Government of India

    Source: Government of India (4)

    Signalling India’s accelerating digital payments revolution, the Reserve Bank of India (RBI) on Monday announced that its Digital Payments Index (RBI-DPI) surged to 493.22 in March 2025, up from 465.33 in September 2024.

    The RBI-DPI, introduced in January 2021 with March 2018 as the base period set at 100, is designed to track the extent of digitalisation in payments across the country. The consistent upward trend reflects India’s rapid adoption of digital payment systems, spanning both urban and rural areas.

    According to the RBI, the latest increase is primarily driven by improvements in Payment Infrastructure – Supply-side factors – and Payment Performance. These include an expanded merchant acceptance network, wider adoption of QR code-based payments, robust growth in Unified Payments Interface (UPI) transactions, and improved availability of digital banking services nationwide.

    This upward momentum highlights a broader transformation in the country’s payments ecosystem, supported by government initiatives such as Digital India, growing smartphone penetration, and active fintech innovation.

    The RBI-DPI has shown steady growth since its inception. In March 2019, it stood at 153.47, rising to 207.84 by March 2020. By March 2022, the index had reached 349.30 – a more than threefold increase from the base year.

    It continued to rise, recording 445.50 in March 2024 and 465.33 by September 2024. The current level of 493.22 in March 2025 marks a more than fourfold increase in digital payment activity since 2018.

    As India moves closer to becoming a digital economy, the RBI-DPI is expected to play a crucial role in policy formulation and benchmarking progress. The latest surge also comes as a positive sign amid global concerns about digital inequality and access to financial services.

    (ANI)

     

  • MIL-OSI Africa: Minister of State for Foreign Affairs Bids Farewell to Ambassador of Belgium

    Source: Government of Qatar

    Doha, July 29, 2025

    HE Minister of State for Foreign Affairs Sultan bin Saad Al Muraikhi met on Tuesday with HE Ambassador of the Kingdom of Belgium to the State of Qatar William Asselborn, on the occasion of the conclusion of his tenure in the country.

    HE the Minister of State for Foreign Affairs expressed his appreciation to HE the Ambassador for his efforts in strengthening bilateral relations and wished him continued success in his future assignments. 

    MIL OSI Africa –

  • MIL-OSI Africa: Minister of State for Foreign Affairs Receives Copy of Credentials of Bangladesh Ambassador

    Source: Government of Qatar

    Doha, July 29, 2025

    HE Minister of State for Foreign Affairs Sultan bin Saad Al Muraikhi received on Tuesday a copy of the credentials of HE Ambassador of the People’s Republic of Bangladesh to the State of Qatar, Mohammad Hazrat Ali Khan.

    HE the Minister of State for Foreign Affairs wished HE the Ambassador success in fulfilling his duties, affirming the commitment to providing all necessary support to strengthen bilateral relations and foster closer cooperation across various fields.

    MIL OSI Africa –

  • MIL-OSI Africa: Over 14 000 arrested in police operations 

    Source: Government of South Africa

    Tuesday, July 29, 2025

    Over 14 000 suspects have been arrested in police operations across the country.

    In Operation Shanela activities, which ran from 21 – 27 July 2025, a total of 14 273 suspects were arrested, including 2 081 wanted suspects implicated in serious and violent crimes, such as business and house robberies, car hijackings, murder, rape and attempted murder.

    According to the South African Police Service (SAPS), 172 suspects were arrested for murder, while 138 individuals were arrested for attempted murder, 170 for rape and 1 598 others for assault with intent to cause grievous bodily harm (GBH).

    A further 324 suspects were arrested for drug dealing, 1 376 were held for the possession of drugs. A total of 119 suspects were held for the illegal possession of firearms, with 45 from KwaZulu-Natal, while 672 were arrested for driving under the influence of alcohol or drugs.

    Police also recovered and confiscated 140 firearms, 1 720 rounds of ammunition and 81 hijacked or stolen vehicles.

    “The South African Police Service remains resolute in its nationwide operations to combat and prevent criminal activities, threatening public safety and sabotaging South Africa’s economic infrastructure,” SAPS said on Tuesday. –SAnews.gov.za

    MIL OSI Africa –