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Category: Agriculture

  • MIL-OSI USA: Governor Lamont Highlights Proactive Steps Connecticut Is Taking To Address ‘The Link’ Between Child Abuse and Animal Cruelty

    Source: US State of Connecticut

    (NEWINGTON, CT) – Governor Ned Lamont today joined other state officials and animal welfare advocates for a news conference at the headquarters of the Connecticut Humane Society in Newington to commemorate Child Abuse Awareness Month and Prevention of Cruelty to Animals Month and highlight the proactive work being done among Connecticut state agencies to cross report accounts of animal cruelty for assessment and possible investigation to determine the safety of children in households where these reports have occurred.

    Numerous studies have shown that there is a strong correlation between instances of animal abuse, child maltreatment, and other forms of interpersonal violence, including domestic violence and elder abuse. Professionals refer to this correlation as “The Link.”

    Over the last several years, staff from Connecticut state agencies, including the Connecticut Department of Children and Families (DCF) and the Connecticut Department of Agriculture (DOAG), have been strengthening their partnerships to respond to “The Link” by cross reporting these instances to each other. Upon receiving reports of reasonable suspicion of animal cruelty from state, regional, and municipal animal control officers, DOAG staff are mandated to forward that information to staff from DCF, who then review whether any children in those homes could be impacted.

    “It’s clear that in homes where animal cruelty has occurred, child abuse or other forms of domestic violence may be present,” Governor Lamont said. “By cross reporting this information between state agencies, our staff can proactively investigate whether other forms of violence are occurring in a home and take measures to protect any children, adults, or animals who may be impacted.”

    “Our continued collaboration with DCF and other state and local partners is essential to increasing education and outreach around the link between child abuse and animal cruelty,” Connecticut Agriculture Commissioner Bryan P. Hurlburt said. “Through training and education, animal control officers are key partners in recognizing and responding to signs of cruelty and sharing that information appropriately to protect the safety and wellbeing of both children and animals.”

    “Our animals, like our children, are vulnerable to abuse and neglect in every community and deserve our full protection,” Connecticut Children and Families Commissioner Jodi Hill-Lilly said. “That’s why we’re increasing staff support, improving data collection, and strengthening our cross-reporting partnership with the Department of Agriculture to address The Link between animal abuse and other forms of child abuse and neglect. This includes mandatory training for frontline staff to identify signs of abuse during home visits. We’re grateful to Governor Lamont, the Department of Agriculture, and our advocacy partners for their support in protecting our most vulnerable.”

    Connecticut has seen demonstrated increases in animal cruelty reports over the past several years, due in part to increased education and outreach efforts by both DCF and DOAG. For example, DCF has made cross reporting a part of the agency’s mandated reporter training. More recently, across its 14 offices, DCF has also more than doubled the number of cross-reporting liaisons who are responsible for helping to triage cases between DCF social workers and animal control officers and provide monthly training and educational support to teams of staff.

    In 2024, DOAG sent DCF 90 reports, while in that same year DCF sent a total of 107 reports to DOAG. Last year, “The Link” was apparent in 16 reports that met the standard for an abuse/neglect investigation based on the initial information provided in the written report. Of those 90 reports, 13 were made on families that were already involved with and receiving supports from DCF.

    The partnership between DOAG and the DCF Child Abuse and Neglect Careline continues to be strengthened to ensure reports are received immediately, allowing DCF to proceed as necessary and DOAG to close the loop with local animal control officers.

    “The Connecticut Humane Society has and will always stand as a voice for the voiceless,” James Bias, executive director of the Connecticut Humane Society, said. “We recognize that acts of animal cruelty are rarely isolated and are too often linked to cases of child abuse. It is so important that every report is taken seriously, and every investigation is pursued with urgency. Accountability is essential to ending the cycles of both animal cruelty and child abuse. These are the most vulnerable of our community, and they deserve more.”

    A review of research studies shows that:

    • Animals were harmed in 88% of homes where a child was physically abused.
    • 75% of female survivors of domestic violence report their pets were threatened or intentionally harmed by their partner.
    • Children exposed to domestic violence are three times more likely to be cruel to animals.
    • 45% of caseworkers working with the elderly encountered animal abuse or neglect co-occurring with elder abuse.

    “There is a well-documented link between animal cruelty and child abuse, with studies consistently showing that violence toward animals often occurs with domestic violence, including abuse of children,” Robin “Zilla” Cannamela, president and co-founder of Desmond’s Army Animal Law Advocates, said. “As Desmond’s Army often sees in court, abusers may harm or threaten pets as a mean of controlling victims making it more difficult for them to seek help or leave unsafe situations. Recognizing this critical connection, Desmond’s Army Animal Law Advocates has expanded its mission to support not only animals but also help the people who love them. As part of this effort, our organization now offers to pay up to $300 for the first month of boarding cost for pets of domestic violence victims entering a licensed safe facility. This compassionate initiative helps remove a significant barrier for survivors, giving them the freedom to escape abuse without the fear of abandoning their pets. This initiative also teaches children that pets are important family members deserving protection from harm.”

    Anyone can make a report of animal cruelty by contacting their local animal control department in the town where those concerns have been noted or by contacting DOAG’s Animal Control Office at 860-713-2506 or AGR.AnimalControl@ct.gov. Those making a report can remain anonymous.

    A reasonable suspicion of child maltreatment can be made to DCF’s Child Abuse and Neglect Careline by dialing 1-800-842-2288. The hotline is open 24 hours a day, 365 days a year. Callers can remain anonymous.

     

    MIL OSI USA News –

  • MIL-OSI Security: Owner of Chicago-Area Convenience Stores Convicted of Defrauding Low-Income Food Program for Women and Children

    Source: Office of United States Attorneys

    CHICAGO — A federal jury has convicted the owner of several Chicago-area convenience stores of scheming to defraud a low-income food program for women and children.

    HASSAN ABDELLATIF, also known as “Eric,” 36, of Chicago, was convicted of all five counts against him, including two counts of wire fraud, one count of fraudulently obtaining government benefits, and two counts of willfully failing to file corporate tax returns. The jury returned its verdicts on Monday after a week-long trial in federal court in Chicago.  U.S. District Judge Jorge L. Alonso set sentencing for Aug. 26, 2025.

    Evidence at trial revealed that Abdellatif, who owned or operated El Milagro Mini Market, Supermercado El Grande, Star Mini Market, In & Out Grocery, and Harding Grocery, schemed with eight other store owners or workers to fraudulently redeem checks from the Women, Infants, and Children (“WIC”) program, a federally funded initiative designed to provide a nutritious diet to moderate and low-income infants, children up to five years of age, and pregnant, breastfeeding, and post-partum women. Over a period of several years, Abdellatif and the others knowingly allowed customers to provide their WIC checks as payment for ineligible items at the stores, often at inflated prices. Abdellatif and a co-defendant redeemed more than $6.5 million in WIC checks at two of the stores alone, before law enforcement searched those premises and shut down the fraud scheme.

    The evidence established that ten stores involved in the scheme redeemed more than $19 million in WIC checks over an eight-year period.  All eight of Abdellatif’s co-defendants pleaded guilty prior to his trial.

    The convictions were announced by Andrew S. Boutros, United States Attorney for the Northern District of Illinois, Douglas S. DePodesta, Special Agent-in-Charge of the Chicago Field Office of the FBI, Shantel R. Robinson, Special Agent-in-Charge of the Midwest Regional Office of the U.S. Department of Agriculture, Office of Inspector General, and Ramsey E. Covington, Acting Special Agent-in-Charge of IRS Criminal Investigation in Chicago.  The government is represented by Assistant U.S. Attorneys Kartik Raman, Rick Young, and Matthew Moyer.

    MIL Security OSI –

  • MIL-OSI Security: Dulce Woman Charged with Aggravated Sexual Abuse and Child Abuse

    Source: Office of United States Attorneys

    ALBUQUERQUE – A Dulce woman has been charged with aggravated sexual abuse and abandonment of a child after an FBI investigation revealed allegations that she repeatedly sexually and physically abused minors over several years.

    According to court documents, the investigation began on April 4, 2025, when the Jicarilla Apache Police Department alerted the FBI that a minor disclosed to their father that Lory Muniz-a police officer with the Jicarilla Apache Nation-had sexually assaulted them repeatedly from the age of 7 to 11. Further investigation revealed that Muniz had previously been charged with child abuse in 2023 in Jicarilla Apache Tribal Court and had not been permitted to see the minors since that incident. She returned to duty as a police officer on March 31, 2025.

    On April 14, 2025, a second victim reported during a forensic interview that they suffered physical abuse from Muniz from ages 5 to 16, including a severe incident at age 5 that resulted in a broken arm. A witness corroborated the accounts of abuse against both victims and described additional incidents of physical and sexual abuse.

    Munizis charged with aggravated sexual abuse and abandonment of a child and will remain in third party custody pending trial, which has not been set. If convicted of the current charges, Munizfaces up to life in prison.

    U.S. Attorney Ryan Ellison and Raul Bujanda, Special Agent in Charge of the Federal Bureau of Investigation’s Albuquerque Field Office, made the announcement today.

    The Farmington Resident Agency of the Federal Bureau of Investigation’s Albuquerque Field Office investigated this case with assistance from the Jicarilla Apache Police Department. Assistant U.S. Attorney Eliot Neal is prosecuting the case.

    A criminal complaint is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI –

  • MIL-OSI USA: Welch on Trump’s 100 Days of Chaos: “100 days of giving a lot of rope and a lot of license to the Executive is 100 days too many. But it’s not too late for us in Congress to stand up…” 

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)

    WASHINGTON, D.C. — U.S. Senator Peter Welch (D-Vt.) joined Democrats in holding the Senate floor last night to slam the first 100 days of Trump’s second term. In his remarks, Senator Welch highlighted the myriad ways this White House has caused chaos, including Elon Musk’s so-called “Department of Government Efficiency” or DOGE, Trump’s attacks on institutions like USAID and the Administration’s push to freeze colleges’ funding for research and development to cure diseases, and Trump’s tariffs and trade war. He also shared stories from Vermont businesses affected by the tariffs. 
    “It’s 100 days. It is time to assess. And whatever you may say about President Trump and the stated goals, there’s an obligation to act functionally to achieve those goals. Stating you want an outcome is a long way from implementing a plan and executing a plan to achieve it. And there is no plan,” said Senator Welch. “There is absolutely no plan.” 
    “It is time for this Congress to make an assessment of our obligation to the citizens we represent. When is enough, enough? When has the Executive gone too far? When is it that all of us should heed the pleas of the businesses, the enterprises in each of our states about this chaotic and very destructive tariff policy? When is it we will say ‘no more’ to an Executive pushing his weight around with private law firms, private employers, with our universities, and telling them unless they do it his way, they’ll pay an enormous price in lost governmental funding or access to things that they need?” Senator Welch concluded. “In my view, 100 days of giving a lot of rope and a lot of license to the Executive is 100 days too many. But it’s not too late for us in Congress to stand up for the separation of powers, the balance of powers, and the prerogatives of the United States Senate and the United States Congress.” 
    Watch his full remarks:  

    Key quotes from Senator Welch: 
    “Let’s talk first about DOGE. DOGE is about supposedly getting rid of waste, fraud, and abuse. There’s not a single member of this Congress who is in favor of waste, fraud, and abuse. But if you are going to do that, you look at a Department. What’s its goal?  How is it achieving it? Where is it coming up short? You do an assessment, and you do a plan. What DOGE did was essentially get the personnel list and then send out e-mails to every fifth or sixth person saying you’re fired because you did a lousy job. It is not at all on the level.  
    “And, as a result, the real goal becomes revealed. It’s not to eliminate waste, fraud, and abuse. It’s to eliminate USAID. It’s to eliminate the Department of Education. It’s to eliminate the Social Security response team. That’s what’s going on. And the challenge for us—and this is bipartisan — is whether we as an independent branch of government want to look at what’s before our very eyes and address it or simply ignore it.” 
    ••• 
    “The tariffs…are going to be seen by historians as the absolute worst economic blunder in the last 100 years. Whether you’re a farmer in Vermont or in Utah or in the Dakotas, these tariffs are hammering you. Most of our farmers in the northern part of the country import fertilizer, import, in many cases, grain to feed our animals, from Canada. This tariff is going to hammer farmers who are already contending with what farmers every year have to contend with—very tight margins, the will of the weather. This is having real impact on them.  
    “In Vermont, we had roundtables to hear ‘how are these tariffs going to affect you?’ Number one, ‘what tariffs?’ ‘What are they today?’ Supposedly they were 25% yesterday, then they’re suspended, then they’re back on. They apply to this part, but not that part. There’s no possibility of anybody making a plan in order to run their business.  
    “By the way, these are folks who came in and are affected by the tariffs. They are not Republicans or Democrats or Independents. They are really folks just trying to make a living….What they’re talking about is the real-world impact of these crackpot tariffs that are on again, off again.  
    “Small business owner Jason Levinthal, founder of J skis said, ‘This is essentially a tax on the consumers.’ Something the administration won’t acknowledge itself.  
    “The president of Mad River Distillers, Mimi Buttenheim said, ‘Tariffs affect our manufacturing arm by raising the price of raw materials.’  
    “Jen Kimmich, co-founder of the Alchemist Brewery: ‘We don’t know how they are going to affect us. We just know they’re going to affect us.’  
    “John Lacy, CEO of Burton Snowboards, ne of the global enterprises founded in Vermont by Jake Burton and Donna carpenter: ‘How can you navigate the playbook when you don’t know what the rules of the road are?’ It’s a fair question. And it’s a question that President Trump feels he has no obligation to answer. This goes on and on.” 
    ••• 
    “Then there’s the next step—the overreach of power. The absolutely lawless abuse of Executive authority. What business is it of Donald Trump what are hiring practices are of an individual private corporation or firm? It is the business to enforce the law. But it’s not his business to be able to tell a law firm he’ll take contracts away. It’s not his business to be able to tell a law firm that [because they] had somebody who represented the government in a case against Trump or some Trump ally that they’re going to punish you…This is a complete overreach and extension by the president. Essentially to impose his own will, not enforce the law but to enforce his will as he arbitrarily wishes.  
    “What sense does it make that because of his vendetta about higher education, that instead of addressing those concerns and having discussions, he literally takes away billions of dollars of research that has gone not just to Harvard, our oldest institution, but the University of Alabama, the University of North Carolina. People, to our benefit, have dedicated their lives to scientific research. The United States government has provided support for research and development, and we’ve had cures for terrible diseases. But if they don’t do what Donald Trump says, he’ll take away grants…destroying research, destroying development.” 

    MIL OSI USA News –

  • MIL-OSI Canada: Province moving forward on short-term rental rules

    Source: Government of Canada regional news

    Municipalities with fewer than 10,000 people, regional districts and resort municipalities are exempt from the principal-residence requirement but may request to opt in by March 31 of each year to take effect Nov. 1 of the same year.

    The three communities that have requested to opt in in 2025 are the Town of Creston, Salt Spring Island and Electoral Area B of the Columbia Shuswap Regional District (Revelstoke/Golden).

    Certain local governments can annually request by a resolution submitted to the minister of housing and municipal affairs to opt out of the principal-residence requirement if the community has a rental vacancy rate of 3% or more for two consecutive years. In addition, communities that have previously opted in can request to opt out without the vacancy-rate requirement.

    There are three communities that have made the decision to opt out of the principal-residence requirement, meaning that the principal-residence rules will not apply on Nov. 1, 2025. The communities are the District of Tofino, Electoral Area E of the Cowichan Valley Regional District (Cowichan Station/Sahtlam/Glenora) and Electoral Area G of the Cowichan Valley Regional District (Saltair/Thetis + Penelakut Islands). 

    MIL OSI Canada News –

  • MIL-OSI: Self-Service Portals Emerge as a Competitive Imperative in B2B Aftersales, New Study Finds

    Source: GlobeNewswire (MIL-OSI)

    BERLIN and NEW YORK, April 30, 2025 (GLOBE NEWSWIRE) —  Spryker, the leading composable commerce platform for global enterprises, today announces findings from a new study released in partnership with Statista+. The findings reveal that as digital-first expectations reshape the B2B landscape, there is a growing urgency for enterprises to offer Self-Service Portals (SSPs) as a core part of the aftersales experience. The study, which surveys 100 U.S.-based B2B buyers across Automotive, MedTech, Agriculture, and Industrial Manufacturing sectors, highlights a widening “SSP Opportunity Gap”—the space between buyer demand for self-service capabilities and the limited availability offered by suppliers.

    Key findings include:

    • SSPs are the second most preferred B2B aftersales channel, yet rank only fourth in actual usage.
    • 95% of buyers believe SSPs improve purchasing efficiency, with two-thirds saving 30 to 60 minutes per transaction.
    • Only 32% of non-SSP users are satisfied with their aftersales experience, compared to 86% of SSP users.
    • 88% of buyers say SSP availability influences their choice to continue purchasing from a supplier.

    “There is a real opportunity here for enterprises looking to get ahead. As B2B buyers increasingly expect seamless, digital-first experiences, SSPs move from ‘nice-to-have’ to ‘must-have,’” says Boris Lokschin, Co-founder and Chief Executive Officer at Spryker. “The study finds that 79% of buyers believe SSPs will play an important role in B2B purchasing and aftersales. That’s not just demand, it’s a clear signal that the market is shifting.”

    According to Gartner, 75% of organizations will complete their highest-revenue deals via digital channels by 2028. As organizations are pushed to increase efficiency while delivering seamless customer experiences, the urgency for digital transformation accelerates. Paired with the need to do more with less, scalable and efficient service models become essential.

    “Buyers want control and speed without sacrificing trust or performance,” says Elena Leonova, Chief Product Officer at Spryker. “With 51% of buyers facing technical issues or downtime while using SSPs, the importance of choosing a robust, enterprise-grade solution designed for stability, security, and scalability is paramount.”

    Spryker’s Self-Service Portal is designed to unify fragmented customer interactions into a single, user-friendly platform. It offers features like 24/7 account dashboards, asset and claims management, and account-specific pricing. As a one-stop shop, it supports a seamless aftersales experience, increasing efficiency, improving customer satisfaction, and driving profitable growth.

    The study dives deeper into buyer expectations across industries, the most critical SSP features, and what sets digital leaders apart in today’s B2B market. Read the full study findings here.

    Methodology
    The study, conducted by Statista+ on behalf of Spryker in March 2025, included 100 U.S.-based B2B buyers from four key industries: Automotive, MedTech, Agriculture, and Industrial Manufacturing.Data was collected through 10-minute Computer-Aided Telephone Interviews (CATI), including screen-sharing, to ensure clarity and accuracy. Participants were selected to provide a balance across industries. All respondents are involved in B2B purchasing processes and engage in aftersales transactions. The sample includes SSP users and non-users, providing a balanced view of current practices, pain points, and future expectations. Fieldwork was conducted between March 17–21, 2025.

    About Spryker
    Spryker is the leading global composable commerce platform for enterprises with complex use cases to enable growth, innovation, and differentiation. Designed specifically for sophisticated transactional businesses, Spryker’s easy-to-use, headless, API-first model enables businesses to adapt, scale, and quickly go to market while facilitating faster time-to-value throughout their digital transformation journey. As a global platform leader for B2B and B2C Enterprise Marketplaces, IoT Commerce, and Unified Commerce, Spryker has empowered 150+ global enterprise customers worldwide and is trusted by brands such as ALDI, Siemens, ZF Friedrichshafen, and Ricoh. Spryker is a privately held technology company headquartered in Berlin and New York backed by world class investors such as TCV, One Peak, Project A, Cherry Ventures, and Maverick Capital. Learn more at spryker.com and follow Spryker on LinkedIn and X.

    The MIL Network –

  • MIL-OSI: XRP News: Amid Proshares XRP Spot ETF Approval News, XenDex Fills Soft Cap as $XDX Price Surges Ahead of Major Exchange Listings

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, April 30, 2025 (GLOBE NEWSWIRE) — The XDX presale phase is reaching its climax. XenDex has officially filled its soft cap, and investors are now scrambling to secure the final remaining tokens before they’re gone for good.

    As the XRP ecosystem celebrates major milestones; from Brazil’s approval of the first XRP Spot ETF, to the SEC lawsuit withdrawal, and ProShares’ XRP Futures and Spot ETF greenlight — XenDex is perfectly positioned as the go-to decentralized exchange (DEX) solution built on Ripple’s native blockchain.

    Buy $XDX Now & Earn Rewards

    With $XDX token prices now increasing and exchange listings imminent, this is the final chance to buy before wider exposure, higher prices, and a full sellout.

    Top Exchange Listings Confirmed: Global Adoption Incoming

    Once the presale concludes, $XDX will be listed on top-tier centralized exchanges, setting the stage for mass adoption and significant liquidity.

    Confirmed exchange listings include:

    • Binance
    • Gate.io
    • BitMart
    • MEXC
    • FirstLedger
    • MagneticX

    Buy XDX Before Listing On Exchange

    These listings are expected to catapult $XDX into the spotlight, and early buyers are racing to front-run the rush.

    Buy $XDX Now Before It’s Gone: https://xendex.net/presale

    What Makes XenDex Unique, And Why You Should Join The Race

    More than just another DEX, XenDex is XRPL’s first all-in-one DeFi hub, solving long-standing gaps with powerful features, including:

    • AI-Powered Copy Trading – Mirror professional traders to minimize loss and maximize profit on our DEX
    • Non-Custodial Lending & Borrowing – Borrow and lend XRP and $XDX to earn rewards on XenDex Exchange
    • Cross-Chain Trading – Seamlessly swap XRP across networks like Solana and BNB on XenDex
    • Staking & Yield Farming – Earn rewards by providing liquidity to our XenDex liquidity pool
    • DAO Governance – Vote on XenDex’s future upgrades, listings, protocol improvements, etc.

    Purchase XDX At Lowest Presale Price

    Thousands have already joined the growing XenDex community across Telegram and Twitter, buying and locking in their tokens before the presale ends and the next price increase takes effect.

    “We’ve hit our soft cap, secured major listings, and entered the final presale phase,” said a XenDex spokesperson. “From here on, the price increases and soon, availability will vanish altogether.”

    With the clock ticking, and tokens disappearing by the minute, this is your final opportunity to be part of one of XRPL’s most explosive DeFi launches.

    Join Official XenDex Communities

    Website: https://xendex.net
    Presale: https://xendex.net/presale
    Telegram: https://t.me/xendexcommunity
    Twitter/X: https://x.com/xendex_xrp
    Docs: https://xdxdocs.gitbook.io

    Contact:
    Frank Richards
    Frank@xendex.net

    Disclaimer: This is a paid post provided by XenDex. 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. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. 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/b519307c-222b-4da1-a8cc-e176438a056b

    The MIL Network –

  • MIL-OSI USA: SBA Relief Still Available to Kansas Small Businesses and Private Nonprofits Affected by August Drought

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding eligible small businesses and private nonprofit (PNP) organizations in Kansas of the May 30 deadline to apply for low interest federal disaster loans to offset economic losses caused by the drought occurring Aug. 6, 2024.

    The declaration covers the Kansas counties of Decatur, Gove, Logan, Rawlins, Sheridan, Sherman and Thomas.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

    EIDLs are available for working capital needs caused by the disaster and are available even if the small business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills not paid due to the disaster.

    “Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    Submit completed loan applications to the SBA no later than May 30.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI USA: SBA Relief Still Available to Hawaii Small Businesses and Private Nonprofits Affected by August Drought

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding eligible small businesses and private nonprofit (PNP) organizations in Hawaii of the May 30 deadline to apply for low interest federal disaster loans to offset economic losses caused by the drought occurring Aug. 6, 2024.

    The declaration covers the Hawaii counties of Hawaii, Honolulu, Kalawao, Kauai and Maui.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

    EIDLs are available for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills not paid due to the disaster.

    “Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    Submit completed loan applications to the SBA no later than May 30.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI USA: SBA Relief Still Available to North Dakota Small Businesses and Private Nonprofits Affected by August Drought

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding eligible small businesses and private nonprofit (PNP) organizations in North Dakota of the May 30 deadline to apply for low interest federal disaster loans to offset economic losses caused by the drought beginning Aug. 6, 2024.

    The declaration covers the North Dakota counties of Adams, Bowman and Slope as well as Fallon County in Montana and Harding County in South Dakota.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

    EIDLs are available for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills not paid due to the disaster.

    “Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    Submit completed loan applications to the SBA no later than May 30.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI USA: SBA Relief Still Available to Colorado Small Businesses and Private Nonprofits Affected by August Drought

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding eligible small businesses and private nonprofit (PNP) organizations in Colorado of the May 30 deadline to apply for low interest federal disaster loans to offset economic losses caused by the drought occurring Aug. 6, 2024.

    The declaration covers the Colorado counties of Adams, Arapahoe, Denver and Jefferson.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

    EIDLs are available for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills not paid due to the disaster.

    “Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    Submit completed loan applications to the SBA no later than May 30.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI: Evfarmer, an innovative agricultural finance company, announced its entry into the Sierra Leone market to expand its online business and support the country’s economic transformation and growth

    Source: GlobeNewswire (MIL-OSI)

    FREETOWN, Sierra Leone, April 30, 2025 (GLOBE NEWSWIRE) — Evfarmer, a global leader in innovative agricultural finance, today announced its official entry into the Sierra Leonean market, marking a significant milestone in its mission to support agricultural development and economic transformation in emerging markets. Building on this momentum, Evfarmer plans to further expand its online and offline operations within Sierra Leone, with the ultimate goal of gradually covering the entire African market. The company’s presence is expected to inject new vitality into Sierra Leone’s agricultural economy and support the transformation of local agricultural enterprises.

    As part of its strategic expansion, Evfarmer will leverage its advanced fintech platform to connect local agricultural producers with a global community of agricultural supporters and investors. This initiative will provide Sierra Leonean farmers with much-needed financial support, cutting-edge technology, and sustainable farming solutions, helping to strengthen the country’s agricultural sector and drive broader economic growth.

    Agriculture remains the cornerstone of Sierra Leone’s economy, providing employment for nearly two-thirds of the population and making a significant contribution to the country’s GDP. In recent years, the government has prioritized agricultural revitalization, investing heavily in rural development, modernization, and food security initiatives. Evfarmer’s market entry is a direct response to the government’s call for greater private sector participation in accelerating these efforts.

    “We are honored to bring our innovative financial solutions to Sierra Leone at such a critical time,” said Jessica, Manager at Evfarmer. “Our goal is to empower local farmers by providing early-stage financing that overcomes traditional banking barriers, enhancing productivity, and unlocking new economic opportunities.”

    Through its digital platform, Evfarmer enables individuals worldwide—whether corporate employees, entrepreneurs, or full-time parents—to participate in large-scale agricultural projects, earning stable returns while supporting global food production. This unique model allows agricultural supporters to invest in farm projects across multiple countries via the Internet. With Sierra Leone now part of its network, Evfarmer is fostering a mutually beneficial, resilient, and fast-growing ecosystem.

    Evfarmer’s entry into Sierra Leone underscores its commitment to promoting financial inclusion, agricultural innovation, and sustainable economic development across emerging economies globally.

    About Evfarmer
    Headquartered in London, Evfarmer Capital Limited is a multinational agricultural finance company dedicated to bridging the gap between global investors and the agricultural sector. Through sustainable, technology-driven financing solutions, Evfarmer helps farmers worldwide boost productivity, access global markets, and build stronger rural economies.

    For more information about Evfarmer’s expansion into Sierra Leone and its innovative agricultural finance solutions, visit www.evfarmer.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a50e309c-b9d8-4903-98ce-b910b68ccc0b

    The MIL Network –

  • MIL-OSI USA: Lummis Statement on Federal Government Dropping Criminal Charges Against Maude Family

    US Senate News:

    Source: United States Senator for Wyoming Cynthia Lummis

    April 30, 2025

    Washington, D.C. — Senator Cynthia Lummis (R-WY) released the following statement after the federal government dropped criminal charges against Charles and Heath Maude, South Dakota-based ranchers who were involved in a land dispute with the Biden administration.

    “The political prosecutions during the Biden administration weren’t just focused on destroying President Trump – they also went after hardworking ranchers trying to run a small family operation,” said Lummis. “As a rancher, and someone with common sense, I’m grateful that Secretary Rollins, Secretary Bondi, and President Trump have ended the injustice that was perpetrated against the Maude family, a family with strong Wyoming roots. Government resources should be directed toward prosecuting actual criminals rather than generational farmers and ranchers.”

    Background: 

    Charles and Heather Maude were indicted separately nearly a year ago by the Biden administration on charges of theft of federal property stemming from a fence line dispute about a fence built before either were born.

    MIL OSI USA News –

  • MIL-OSI Global: Informal workers in Ghana’s chop bars get no benefit from foreign aid: donors are getting it wrong

    Source: The Conversation – Africa – By Matteo Rizzo, Senior Lecturer in Development Studies, SOAS, University of London

    Informal street food caterers, popularly known as chop bars, are a key feature of Ghanaian city life. They offer the urban poor the cheapest food.

    A 2016 survey by the Food and Agriculture Organization estimated there were about 3,300 chop bars in the capital, Accra, employing almost 4,300 workers. This figure is likely to be much higher now due to rapid urban growth in the last decade. Ghana’s urban population increased from 50.9% in 2010 to 56.7% in 2021. By the same year the Greater Accra region was home to 91.7% of the urban population in the country.

    Street food caterers in Accra face a number of problems, including insecurity of land tenure, inadequate knowledge of food hygiene, harassment from local authorities, cut-throat competition, and low returns from work.

    Foreign donors have over the years stepped in to attempt to address these problems. A flagship of this assistance has been a programme funded by Danish trade unions and the Danish Federation of Small and Medium-sized Enterprises. Under its aegis, Ghana’s Trades Union Congress was able to support workers in chop bars.

    Drawing on our expertise on trade unions in Ghana and on the informal economy, we assessed the effectiveness and strategic relevance of this aid.

    The aid focused on entrepreneurial skills and micro-credit. This overlooks some of the real problems in the sector. It leaves wage workers in a precarious position and does nothing to boost demand for what the sector supplies. We argue that to be more effective, foreign aid should address these gaps.

    Entrepreneurial pipe dreams

    Increased donor attention to workers in the informal economy and trade unions could be seen as a positive trend. After all, this is where the majority of workers in African cities are to be found. Ghana’s official statistical service places the size of the country’s informal sector between 70% and 80% of the working populace in its reports from 2024.

    However, close examination of the type of support given, and its results, yields a more sobering picture.

    Aid focused firstly on capacity building and entrepreneurship. This aimed at boosting skills such as financial literacy and capacity to care for customers. The programme’s own evaluation highlights the increased confidence that chop bar operators gained through this training. Important as this might be, increased confidence can do very little to overcome structural challenges, like intense competition in an oversupplied sector and the insecurity of land tenure.

    A second area of support was the provision of micro-credit via the Trades Union Congress (Ghana). One could argue that it boosted the creditworthiness of informal economy operators. But there is evidence, including our study, that credit can often result in a spiral of debt and “poverty finance”.

    Donors chose to focus on small-scale entrepreneurs as the only economic actors in the informal economy. This reflects an ideological, and market fundamentalist, understanding of the informal economy as inhabited only by small enterprises and self-employed workers, and the challenge as one of making the market work better for the poor.

    The blind spots of donors’ support to the informal economy

    This approach by donors neglects informal and highly precarious wage workers within the chop bar sector. Our research shows that the chop bar industry is stratified in terms of class. Within it, alongside genuine self-employed workers, there are people who own relatively small-scale capital (cooking assets and in some cases the land and buildings in which the bars are based) and who employ informal wage workers.

    The informal workforce is by and large made up of migrant female workers with relatively low education and skill. They work without contracts, for very long hours and very low wages, and face the risk of sudden dismissal and harassment from employers. Such poor working conditions stem from the lack of contracts, and of the rights that come with them. This is the weakest category of workers in the industry – yet they have no place in donors’ and trade unions’ activities to support workers.

    The main limitation of donors’ aid to the chop bar sector is that it focuses exclusively on supply-side interventions. It is based on the idea that improving skills and access to finance will result in increased demand for the services of small-scale entrepreneurs. Many aid programmes on employment make this mistake and suffer from so called “employment dementia” .

    This type of aid doesn’t ask where the stimulus to increase demand for street food will come from, or what the structural roots of urban employment challenges are. It doesn’t consider why African cities have large informal economies and poor-quality jobs.

    Aid priorities

    Donors should re-think their aid priorities, and put informal wage workers at their centre. This would entail moving away from the current focus on micro-solutions for job creation, and instead supporting policies to promote structural change, to tighten labour markets and increase the demand for good-quality jobs within them.

    This article was co-authored with Dr Prince Asafu-Adjaye, an associate of Labour Research Service.

    Matteo Rizzo 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. Informal workers in Ghana’s chop bars get no benefit from foreign aid: donors are getting it wrong – https://theconversation.com/informal-workers-in-ghanas-chop-bars-get-no-benefit-from-foreign-aid-donors-are-getting-it-wrong-253633

    MIL OSI – Global Reports –

  • MIL-OSI USA: Rep. Mann Applauds President Trump’s First 100 Days in Office

    Source: United States House of Representatives – Representative Tracey Mann (Kansas, 1)

    WASHINGTON, D.C. – Today, U.S. Representative Tracey Mann (KS-01) applauded President Trump’s first 100 days of his second term. During his remarks, Rep. Mann highlighted the Trump Administration’s milestone accomplishments including a 95% drop in border apprehensions, the signing of commonsense legislation including the Laken Riley Act and the Protection of Women and Girl’s in Sports Act, $5 trillion in new investments in the United States, and President Trump’s work with Congress to extend the 2017 tax cuts.

    “The only way to describe the first 100 days of President Trump’s historic second term is promises made, promises kept,” said Rep. Mann. He concluded in part, “100 days of winning and I look forward to many, many more.”

    You can listen to Rep. Mann’s remarks here.

    Below are Rep. Mann’s remarks as prepared:

    On November 5, 2024, 77 million Americans gave Washington, D.C. a mandate to restore common sense, secure our border, make America safe again, get our fiscal house in order, grow our economy, and get our country back on track. President Trump and our Republican majorities in the House and Senate have been laser focused on delivering on that mandate since the start of President Trump’s second term.

    For four years, President Biden and many Congressional Democrats blamed the crisis at our border on President Trump. They argued that the record-level inflation across the country was President Trump’s fault and not their Build Back Broke plan and so-called “Inflation Reduction Act.”

    Yet in just 100 days, the same leader my colleagues on the other side obsessed over and blamed for these Biden setbacks has fixed those same problems and gotten our country back on track. The only way to describe the first 100 days of President Trump’s historic second term is promises made, promises kept.

    President Trump promised to secure the border. While left-leaning news outlets tried to fearmonger and portray the enforcement of our nation’s border laws as an attempt to stop any immigrant from entering the United States, America knew this narrative couldn’t have been further from the truth. 100 days in, our nation’s border is more secure it has been in our nation’s history. 

    In March of this year, apprehensions along the southern border had dropped 95% from the average daily encounters under President Biden. After a year and a half of chaos when President Biden rescinded Title 42, the Los Angeles Times reported that crossings at the California-Mexico border had nearly come to a halt under President Trump. Along our northern border, Customs and Border patrol agents apprehended 54 migrants this past March, down 95% from March 2024.

    House Republicans and President Trump did what many Democrats were afraid to do—actually enforce the law and pass laws like the Laken Riley Act that make it clear there is no place for violent criminals illegally in the United States of America. While President Trump and his administration have worked tirelessly to remove these criminals from our country, it’s been a completely different story on the left. Some of my Democrat colleagues spent the Easter recess begging for an alleged MS-13 member to return to the United States. Meanwhile those same Democrats were silent when the Biden Administration abandoned Americans in Afghanistan after their botched withdrawal. The contrasts in priorities for Democrats and Republicans could not be more clear.

    It turns out the only thing we needed for the past four years was a President who doesn’t run from common sense and isn’t afraid to enforce the law. Promises made, promises kept.

    President Trump promised to revive the American dream and usher in the golden age of America. Over the last 100 days he and his administration announced more than $5 trillion dollars in new foreign and domestic investments, including in my home state of Kansas. Just last week, Fiserv announced they would make a $175 million investment in Kansas that will create good-paying job opportunities for individuals in the eastern part of our state. 

    The consumer price index continues to show that inflation is cooling, and prices are falling. Because of the leadership of Agriculture Secretary Brooke Rollins and President Trump, wholesale egg prices have fallen, and we anticipate that retail prices will soon follow suit. Americans are feeling far less pain at the pump because we have leadership in our nation’s capital that prioritizes an all of the above energy strategy instead of Green New Deal policies that pick winners and losers. President Trump has repealed Biden-era rules that tried to implement an electric vehicle mandate because he knows it won’t work in places like the Big First District, and it only drives up costs for consumers. Promises made, promises kept.

    President Trump made a promise to restore common sense and get our country back on track. I’m grateful we finally have a president who is not afraid to state the obvious. There are two genders, and biological men should not play in women’s sports. One of the first bills President Trump signed during his second term was the Protection of Women and Girls in Sports Act. President Trump has uprooted wasteful, fraudulent and abusive spending and gone line by line through our federal budget to make sure taxpayer dollars are being spent wisely. While the Democrat Leader spent all day Sunday advocating for American families to have the largest tax hike in history, President Trump has spent the last 100 days working tirelessly with Congressional Republicans to extend his 2017 tax cuts. Promises made, promises kept.

    I am so grateful to have real leadership back at 1600 Pennsylvania Avenue that fights for America’s families and a brighter future for our country. Thank you, President Trump, for your leadership and for all you’ve done to ensure our best days are ahead of us. 100 days of winning and I look forward to many, many more.

     

    ###

    MIL OSI USA News –

  • MIL-OSI USA: ICYMI: De La Cruz Hosts Press Conference on Securing Texas Water

    Source: United States House of Representatives – Monica De La Cruz (TX-15)

    On President Trump’s 100th day in office, Congresswoman Monica De La Cruz (TX-15) held a press conference with local officials, including Hidalgo County Judge Richard Cortez, and South Texas agriculture leaders, including Dale Murden. De La Cruz praised the Trump Administration’s announcement to ensure the Mexican Government makes water deliveries and shared her continued work to ensure Mexico delivers water to South Texas. 

    Following the press conference, De La Cruz shared videos thanking President Trump, U.S. Department of Agriculture Secretary Brooke Rollins, and U.S. Secretary of State Marco Rubio for their work on this critical issue.

    De La Cruz holds press conference to celebrate major steps toward securing the water Texas agriculture is owed by the Mexican Government with Texas farmers (from Left to Right Tommy Jendrusch of Jendrusch Farms, Mike Davis of Tex Mex Sales, Russon Holbrook of South Tex Organics, Sam Ruiz of Mid Valley Agriculture, Tommy Hanka of Tommy Hanka Farms, Dennis Holbrook of South Tex Organics, Jud Flowers of Lone Star Citrus Growers, Bret Erickson of Little Bear Produce, Dante Galeazzi of Texas International Produce Association).

    De La Cruz’s remarks as prepared are below.
     

    “This announcement is a victory for our community, our farmers, and our families. 

    I am deeply grateful to our local business leaders, our city officials, and to President Trump and his administration for working with me on such a vital issue for South Texas families. 
     

    For more than 80 years, long before I arrived in Congress, this community faced a crisis of water.
     

    That’s why one of the first resolutions I passed in the House strongly supported diplomatic pressure to ensure the Mexican government fulfills its water obligations every single year. 
     

    And before President Trump even took office, I sent a letter, with many members of the Texas delegation, urging him to hold the Mexican government accountable. 
     

    When I met with the President in the Oval Office in February, he was shocked to hear what South Texas families have endured for decades and he assured me that he would act swiftly. 
     

    Last month, I proudly stood with Secretary Rollins to announce $280 million in critical relief, funding I helped secure through the American Relief Act, that will be deployed directly to Texas farmers. 
     

    After years of being told nothing could be done, we are standing strong and delivering for our community. 
     

    And today, I am proud to announce: the Mexican government has agreed to deliver up to 420,000 acre-feet of water between now and October. 
     

    This is a major step forward, but it’s not just about agriculture. 
     

    This fight affects every South Texas family because every one of us needs water. 

    Texas is one of America’s largest agricultural producers. If we lose Texas fruit and vegetable crops, the consequences would be devastating – not just for South Texas, but for families across the entire country. I will never let that happen. I will continue fighting every day to protect our farmers, our families, and our future. 
     

    It is the honor of my life to serve as the Valley’s voice in Congress. This is where I was born. It’s where I grew up. And it’s where we are raising our families. 
     

    My team and I will always listen to you, and we will always fight hard to solve our problems. This is just the beginning. 
     

    The best is yet to come. God bless!”

    MIL OSI USA News –

  • MIL-OSI USA: New Drug Shows Promise for Treating Bronchiectasis

    Source: US State of Connecticut

    Results of a large, global clinical trial spanning five continents with over 1,700 patients with bronchiectasis, published this April in the New England Journal of Medicine, demonstrated benefits of an investigational, once-a-day pill called brenso­catib as a therapy for the chronic lung condition.

    The clinical trial findings are important, as there are currently no FDA-approved medications for bronchiectasis, a chronic condition with persistent lung airway inflammation and infection. Bronchiectasis can often stem from various injuries to the airways causing the ‘bronchial’ tubes leading to the lungs to become permanently enlarged, and more prone to infection and chronic inflammation.

    Symptoms of bronchiectasis include chronic cough with sputum (mucous) production, shortness of breath and fatigue. Acute exacerbations of the debilitating condition experienced by patients are characterized by worsening of the cough and sputum production, often with fever, shortness of breath or chest pain and further impair patient quality of life.  Severe exacerbations may result in hospitalization and permanent loss of lung function.

    Bronchiectasis impacts up to 500,000 Americans, but there is often misdiagnosis or delayed diagnosis as the condition can present similarly to other pulmonary conditions such as COPD or asthma.

    Senior NEJM study author Dr. Mark Metersky is chief of the Division of Pulmonary, Critical Care and Sleep Medicine and Director of the Center for Bronchiectasis Care at UConn Health (Tina Encarnacion/UConn Health photo)

    Senior study author Dr. Mark Metersky of UConn School of Medicine served on the Steering Committee for the global, multi-center, randomized clinical trial and was principal investigator for UConn School of Medicine’s clinical trial site. Metersky specializes in bronchiectasis care and is the longtime director of UConn’s dedicated Center for Bronchiectasis Care at UConn Health in Farmington, Connecticut.

    Most bronchiectasis patients experience loss of lung function over time due to the irreversible damage caused by the progressive disease. But in this large, international, randomized ASPEN trial which included 1,721 patients, the new DPP-1 inhibitor medication targeting inflammation in either a 10 mg or 25 mg pill dose versus placebo over a 52-week period was shown to significantly lower the annualized rate of exacerbations in patients taking either drug dose while also slowing their loss of lung function.  Also, the authors report that in each brensocatib group nearly half (48.5%) of patients remained exacerbation-free one year later at week 52.

    “Patients with bronchiectasis have impaired quality of life,” shared Metersky who personally cares for well over 100 patients with the condition at UConn Health. “The study results suggests that brensocatib will help many patients living with bronchiectasis. Bronchiectasis patients’ quality of life was measured throughout the study and improved in patients who received the drug.”

    “Pulmonary exacerbations of bronchiectasis can last days or weeks and preventing them is important,” stresses Metersky. “However, this drug resulted in improved quality of life even when patients were not suffering from an exacerbation, providing hope for so many patients suffering with daily symptoms.”

    Metersky concludes, “This is a very promising new treatment and likely will be the first-ever FDA-approved treatment for bronchiectasis.”

    Insmed, Inc. is the drug’s manufacturer and sponsored the clinical trial.

    MIL OSI USA News –

  • MIL-OSI USA: Harriet Hageman to Join Trump Administration Officials For a Press Conference in Support of the Maude Family Upon USDA Announcing Criminal Charges Dropped

    Source: United States House of Representatives – Wyoming Congresswoman Harriet Hageman

    Washington, D.C. – Congresswoman Hageman will join U.S. Secretary of Agriculture Brooke Rollins, Attorney General Pam Bondi, U.S. Secretary of Homeland Security Krisi Noem and Charles and Heather Maude on Wednesday, April 30th following the USDA’s announcement to drop criminal charges against the ranching family.   

    Charles Maude and his wife Heather, who is a Wyoming native, were served with separate federal grand jury indictments on June 24, 2024 for alleged theft of government property. The Maudes, like many ag producers in very similar situations, had a portion of federal grasslands that has been incorporated in their ranching operation since the early 1900’s which was the focus of the dispute.   

    This is the culmination of a case that will set precedent for the relationship between the federal land-management agencies and their agricultural partners moving forward.   
     

    WHAT: Press conference in support of Maude family following announcement that U.S. government has dropped all criminal charges against the family.   
    WHEN: Wednesday, April 30th, 7:00am MT/9:00am ET.  
    WHERE:  The livestream link is here: www.usda.gov/live 

    ### 

    MIL OSI USA News –

  • MIL-OSI Security: FBI: Wyoming Ranks 3rd Per Capita in Losses to Scammers

    Source: Federal Bureau of Investigation FBI Crime News (b)

    Scammers stole $43,502,744 from Wyoming victims in 2024, according to the latest report from the FBI’s Internet Crime Complaint Center (IC3). Those losses made Wyoming the No. 3 state in the nation in terms of per capita losses. People filed 1,377 IC3 complaints in 2024.

    Reported losses in the state increased nearly $30 million over the 2023 dollar amount.

    The top schemes with the largest dollar amount losses in 2024 in Wyoming were data breach ($21 million) and investment fraud ($13 million).

    The top schemes in terms of numbers of reports from Wyoming were extortion (193) and personal data breach (89).

    The age group that made the most reports was people 40-49 years old, with 479 complaints. The age group with the most reported losses was those 60 and older, with $8,648,675.

    “This report is a sobering reminder that people in Wyoming remain prime targets for scammers who will jump at every opportunity to defraud potential victims,” said Special Agent in Charge Mark Michalek, who oversees FBI operations in the Cowboy State. “It’s important for the public to remain vigilant to guard against ever-increasing cyber-enabled threats both at places of employment and in personal life.”

    In 2024, the IC3 received 859,532 complaints nationally of suspected Internet crime with reported losses of $16.6 billion. That is a 33 percent increase in losses from 2023.

    These are only the reports made to IC3; not every victim files a complaint—or even realizes he or she is a victim—so the actual numbers are probably higher in terms of victims and losses.

    Nationwide, the top three scams most frequently reported by victims were phishing/spoofing, extortion, and personal data breaches. Victims of investment fraud, specifically those involving cryptocurrency, reported the most losses—totaling more than $6.5 billion.

    Cryptocurrency investment fraud increased 29 percent over 2023. Ransomware complaints were up 9 percent across the country

    As a group, people 60 and older suffered the most reported losses in 2024 at nearly $5 billion and submitted the greatest number of complaints.

    If you feel you have been a victim of a cyber-enabled crime, file a complaint at IC3.gov.

    Read the full IC3 report here: https://www.ic3.gov/AnnualReport/Reports/2024_IC3Report.pdf

    Breakdowns by state are here: https://www.ic3.gov/AnnualReport/Reports/2024State/

    MIL Security OSI –

  • MIL-OSI USA: Cortez Masto Highlights Pain Trump’s First 100 Days Have Caused Nevada Working Families and Businesses

    US Senate News:

    Source: United States Senator for Nevada Cortez Masto
     ***VIDEO AVAILABLE***
    FTPs for TV stations is available here.
    Washington, D.C. – U.S. Senator Catherine Cortez Masto (D-Nev.) spoke on the Senate floor on the 100th day of President Donald Trump’s second term to highlight the disastrous impacts President Trump’s agenda have had on hardworking Nevadans and their businesses.
    Throughout the start of Trump’s term, the Senator Cortez Masto has pushed multiple Departments under the Trump Administration for detailed, public information regarding the impacts of President Trump’s federal funding freeze, hiring freeze, and terminations on Nevada – including to the Department of the Interior, the U.S. Forest Service, the National Nuclear Security Administration, the Department of Veterans Affairs, Department of Agriculture, General Services Administration, Department of Health and Human Services, and Consumer Finance Protection Bureau.
    Senator Cortez Masto has also repeatedly called out President Trump and Congressional Republican’s attempts to slash Medicaid to pay for tax cuts for billionaires. And she has continued to push the Trump Administration to address the impacts of Trump’s tariffs on working families, small businesses, and Nevada’s travel and tourism economy.
    Below are her remarks as prepared for delivery:
    While campaigning last year in Bozeman, Montana, Donald Trump said, “Starting on day one, we will end inflation and make America affordable again, to bring down the prices of all goods.”
    Well, it’s been 100 days since he entered the White House, and here’s what he’s given us so far:
    His tariffs are increasing costs for the average family by more than $4,000 a year.
    He has slashed billions from programs that everyday Americans rely on, including $1 Billion for mental health care services.
    He has directed Elon Musk and his unqualified loyalists to fire more than 121,000 federal employees delivering essential services – everyone from to Park Rangers tasked with keeping Americans safe to scientists researching cures to deadly diseases.
    He’s pushing House and Senate Republicans to rubber stamp a plan to cut nearly $1 trillion dollars from Medicaid in order to give tax cuts to billionaires.
    And he’s created endless chaos and uncertainty.
    I could go on and on – that’s just how much damage President Trump has caused to our country in 100 days – but I want to take some time to focus on the impact his economic agenda is having on our small businesses.
    I’m from Nevada, where there are almost 300,000 small businesses.
    These mom-and-pop shops are the lifeblood of our economy and are a part of the fabric of every community.
    And it’s these small businesses that are bearing the brunt of President Trump’s destructive tariffs.
    Now, I believe targeted tariffs on our adversaries can be a useful tool to protect American jobs and support our national security.
    But these blanket tariffs are the opposite of that.
    These last two weeks – while back home in Nevada – I got a first-hand account of what small businesses are having to deal with.
    I heard these concerns from three small business owners in Las Vegas: Juanny, Santy, and Kristen. All three of these women own shops that serve specialty drinks and incredible food to Nevadans – from coffee and boba to tacos.
    In Vegas – as you may know – travel and tourism are the backbone of our economy.
    When people come to Las Vegas they don’t just visit the Strip. They go to Chinatown, and the arts district, and all over the valley to patronize our small businesses.
    For many business owners – like Juanny, like Santy, like Kristen – their margins are already razor-thin, and tourism is key to meeting their bottom line.
    But because of President Trump’s tariffs, we’re already seeing a decline in visitors coming to Las Vegas. 
    Whether people are staying home because they don’t have any room in their budgets for a vacation, or international tourists are choosing other destinations – Trump’s economic agenda is threatening to crater our $2 trillion tourism economy. 
    That hurts our small businesses!
    And when they can’t keep up because costs are rising, because they have fewer patrons, or because of the higher cost of importing their supplies – they’re forced to raise their prices and pass the burden onto customers.
    It’s unsustainable.
    And this same sentiment is echoed in the Northern part of our state.
    In Reno, I spoke to Mark, a small coffee shop owner who is already asking himself how he can continue to navigate everyday operations amid the uncertainty.
    He doesn’t want to pass higher costs onto customers, but if Trump’s erratic tariff agenda continues, he may have no choice.
    Trump says Americans must accept short-term pain for long-term gain, but what is there to be gained if hardworking Nevadans have to close the doors of their businesses?
    I think to myself, if it’s only been 100 days, how much damage is he going to potentially cause in the next 100?
    In the 1361 days left in his term?
    It’s been 100 days, and small businesses across the United States may soon be faced with having to close up shop.
    What’s going to happen to Juanny, to Mark, to Santy, to Kristen?
    Will they make it through the rest of Trump’s term?
    I don’t know the answer.
    But I hope my Republican colleagues stop rubber stamping Trump’s harmful agenda and actually stand up for working families and small businesses.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Kanga power! Homegrown cotton for a homegrown economy – UK & Kenya launch Lamu cotton processing facility.

    Source: United Kingdom – Executive Government & Departments

    World news story

    Kanga power! Homegrown cotton for a homegrown economy – UK & Kenya launch Lamu cotton processing facility.

    A partnership between Kenya, the UK and private sector to deliver growth and jobs by reducing reliance on foreign imports, supporting women and the environment.

    The (L-R) Lamu County Governor, H.E Issa Timamy; Hon. Lee Kinyanjui, CS Trade Investments and Industry, Kenya; Principal Secretary for Investments – Mr. Abubakar Hassan Abubakar, Kenya; and Ms. Tejal Dodhia, Managing Director, Thika Cotton Mills; officially lay the foundation stone at the Lamu cotton ginnery, Lamu County, Kenya.

    The UK, Kenya, and the County Government of Lamu have joined forces to lay the foundation stone at a new cotton processing facility in Lamu County. 

    This four-way partnership between the UK, national government, local government and the private sector is a great example of the how the UK and Kenya are working together to deliver homegrown economic growth and jobs – a standout example of the tangible results that collaboration can achieve. 

    Construction will begin immediately and is hoped to be completed by November 2025. The project is expected to support up to 5000 jobs in the next three years. 

    The Hon. Lee Kinyanjui, Cabinet Secretary for Ministry of Investments, Trade and Industry, said:

    The ginnery, by Thika Cloth Mills, will boost cotton uptake and thus earn farmers more income, create jobs, and provide raw material for the textile industry. 

    With the infrastructure supporting export including a special economic zone, Lamu Port and LAPPSET, Lamu will be the hub for investors in the region.

    British Deputy High Commissioner to Kenya, Ed Barnett, said:

    The UK is a long-term partner for long-term economic growth in Kenya. This project is a testament to the power of partnerships – the UK, national government, and county governments have joined forces with the private sector to deliver 5,000 jobs and future economic growth. 

    This partnership will reduce reliance on imports, put money in the pockets of farmers. It will strengthen, stabilise and support a sustainable homegrown cotton industry in Kenya. Long live Kenya kanga!

    This partnership directly supports the Government of Kenya’s textiles and garments national development priority, by reducing reliance on foreign imports – which currently make up around 90% of cotton in the country. Kenya currently produces 3,000 bales of cotton per year, whilst the total demand ranges between 140,000 – 260,000. This partnership will develop a homegrown cotton industry and allow Kenyan businesses to capitalise on economic opportunities within their own country. 

    The processing plant will create jobs and stimulate economic growth in Lamu County. It is hoped the facility will triple cotton production in Lamu from 2,000 bales per year to 6,000 over the next three years. This will also support local cotton farmers as the facility will be built close to farms, reducing transportation costs as well as providing them with a larger market for their produce. The proposed plant will not only source cotton from Lamu County but from Kilifi, Tana River, Kwale, and Taita Taveta counties. 

    The reduced need for transportation is expected to decrease the carbon footprint of the textile production process by 262 metric tons of carbon dioxide every year, supporting Kenya’s climate ambitions. 

    This project will also have a positive social impact and place a significant emphasis on providing substantial economic opportunities to women and promoting gender equality, as the employees at the processing plant are expected to be at least 50% women.  

    The programme falls under the UK’s Sustainable Urban Economic Development programme (SUED), which aims to add value to Kenyan agricultural produce before export. 

    The UK has provided seed-funding to de-risk the investment for all partners involved. The Government of Kenya has provided additional funding, with the remaining funds being provided by Thika Cotton Mills. Lamu County sealed the deal by providing land for the ginnery. 

    SUED has been operational in Lamu for four years, and this is the programme’s fourth value-chain project in the county. It has secured investors for the cotton ginnery as well as fish processing, coconut processing, and cashew nut processing facilities. Across Kenya, our £8 million seed fund investments through SUED have helped unlock £48 million in private capital and supported the creation of more than 10,000 jobs. 

    The UK Government partners with Kenya across multiple sectors in Lamu County. The UK supports: trade and investment though the development of infrastructure and customs processes at Lamu Port; regional security through programmes to counter violent extremism; and environmental programmes to reduce plastic pollution and increase biodiversity. 

    Notes for Editors

    Photo and video content

    Google Drive link

    The UK-Kenya Strategic Partnership

    The UK-Kenya strategic partnership joint statement can be found here. 

    Funding

    • The UK has provided seed funding to de-risk a private sector investment project. 

    • The Government of Kenya has subsequently provided additional financing to further support the investment through the Kenya Development Corporation (KDC) 

    • The Lamu county government has supported the venture with land acquisition and created an enabling local operating environment.  

    What is the SUED program?

    SUED is a seven year, £43m programme that seeks to create jobs and promote inclusive economic growth in selected municipalities across Kenya, through better urban planning and by attracting increased investment – including both investments in climate resilient infrastructure and agricultural processing projects 

    Thika Cotton Mills

    • Thika Cloth Mills Limited (TCM) was established in 1958 and is one of the leading Kenyan textile manufacturers. 

    • The mission of the company is “Bringing textiles home”, and the vision is “Creation of employment to improve livelihoods and alleviate poverty in Kenya”.  

    • The company has been an active participant in the “Buy Kenya Build Kenya”3 initiative, sourcing most of their raw materials locally. 

    • TCM owns and operates a plant in Thika that employs 700 staff and manufactures 100% cotton fabrics, polyester cotton fabric and blended polyester viscose. 

    • TCM currently sources raw cotton lint from ginneries in Makueni, Kitui, Rift Valley, and Meru. 

    • They work with over 10,000 farmers covering approximately 50% of Kenya’s cotton growing region   

    Contact

    British High Commission: Tom Walker tom.walker2@fcdo.gov.uk  

    SUED: Louisa Nandege Ssennyonga louisa.nandegessennyonga@tetratech.com

    Updates to this page

    Published 30 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Reports of a new UK-EU strategic partnership is a ‘welcome boost’ for Welsh producers – Plaid Cymru

    Source: Party of Wales

    Reducing trade barriers will help Welsh producers who make vital contribution to Wales’ economy – Liz Saville Roberts MP

    During Wales Questions in the House of Commons today (Wednesday 30 April), Plaid Cymru Westminster leader Liz Saville Roberts MP said that the reports of a new UK-EU strategic partnership to reduce trade barriers will be a ‘welcome boost’ to Wales’s food and drinks producers.  

    75% of the sector’s exports currently go to the EU.  

    Ms Saville Roberts outlined the vital contribution that Welsh producers make to Wales’ economy and asked Jo Stevens MP to join her in celebrating producers and farmers from across Wales. The Dwyfor Meirionnydd MP gave a special mention to those at Nefyn Show in her constituency and to those from Carmarthenshire who were visiting Parliament today for Carmarthenshire Day. 

     

    Speaking in the House of Commons, Liz Saville Roberts MP said:   

    “Reports of a new UK-EU strategic partnership to reduce trade barriers will at last be a welcome boost to Wales’s food and drinks producers, given that 75% of the sector’s exports go to the EU.  

    “All producers, from farm to fork, of our wonderful Welsh produce make a vital contribution to Wales’s economy.  

    “Will the Secretary of State join me in celebrating all of Wales’s producers and farmers, especially those at Nefyn Show on Monday and even more so those from Carmarthenshire here today?” 

    MIL OSI United Kingdom –

  • MIL-OSI Global: Bees, fish and plants show how climate change’s accelerating pace is disrupting nature in 2 key ways

    Source: The Conversation – USA – By Courtney McGinnis, Professor of Biology, Medical Sciences and Environmental Sciences, Quinnipiac University

    A bee enjoys lunch on a flower in Hillsboro, Ore. HIllsboro Parks & Rec, CC BY-NC-ND

    The problem with climate change isn’t just the temperature – it’s also how fast the climate is changing today.

    Historically, Earth’s climate changes have generally happened over thousands to millions of years. Today, global temperatures are increasing by about 0.36 degrees Fahrenheit (0.2 degrees Celsius) per decade.

    Imagine a car speeding up. Over time, human activities such as burning fossil fuels have increased the amount of greenhouse gases in the atmosphere. These gases trap heat from the Sun. This is like pressing the gas pedal. The faster the driver adds gas, the faster the car goes.

    The 21st century has seen a dramatic acceleration in the rate of climate change, with global temperatures rising more than three times faster than in the previous century.

    The faster pace and higher temperatures are changing habitat ranges for plants and animals. In some regions, the pace of change is also throwing off the delicate timing of pollination, putting plants and pollinators such as bees at risk.

    Some species are already migrating

    Most plant and animal species can tolerate or at least recover from short-term changes in climate, such as a heat wave. When the changes last longer, however, organisms may need to migrate into new areas to adapt for survival.

    Some species are already moving toward higher latitudes and altitudes with cooler temperatures, altering their geographic territory to stay within their optimal climate. Fish populations, for example, have shifted toward the poles as ocean temperatures have risen.

    Pollinators such as bees can also shift their ranges.

    Bumblebees, for example, are adapted for cooler regions because of their fuzzy bodies. Some bumblebee populations have been disappearing from the southern parts of their geographic range and have been found in cooler regions to the north and in more mountainous areas. That could increase competition with existing bumblebee populations.

    Plants and pollinators can get out of sync

    Plants and their pollinators face another problem as the rate of climate change increases: Many plants rely on insects and other animals for seed and pollen dispersal.

    Much of that pollen dispersal is accomplished by native pollinators. About 75% of plant species in North America require an insect pollinator – bees, butterflies, moths, flies, beetles, wasps, birds and bats. In fact, 1 in 3 bites of food you eat depend on a pollinator, according to the U.S. Department of Agriculture.

    So, even if a species successfully migrates into a new territory, it can face a mismatch of pollination timing. This is known as phenological mismatch.

    Monarch butterflies migrate each year and rely on plants blooming along their path to provide food.
    Clint Wirick/U.S. Fish and Wildlife Service

    During the winter, insects go into a hibernation known as diapause, migrate or take up shelter underground, under rocks or in leaf litter. These insect pollinators use temperature and daylight length as cues for when to emerge or when to migrate to their spring and summer habitats.

    As the rate of climate change increases, the chances of a timing mismatch between pollinators and the plants they pollinate rise.

    With an increase in temperature, many plants are blooming earlier in the spring. If bees or other pollinators emerge at their “normal” time, flowers may already be blooming, reducing their chance for pollination.

    If pollinators emerge too early, they may struggle to survive if their normal food sources are not yet available. Native bees, for example, rely on pollen for much of the protein they need for growing and thriving.

    Wild bees are emerging earlier

    This kind of shift in timing is already happening with bees in the U.S.

    Studies have shown that the date wild bees emerge in the U.S. has shifted by 10.4 days earlier over the past 130 years, and the pace is accelerating.

    One study found wild bees across species have been changing their phenology, or timing of seasonal activities, and over the past 50 years the emergence date is four times faster. That means wild bees were emerging roughly eight days earlier in 2020 than they did in 1970.

    A bee pollinates an almond tree in an orchard.
    David Kosling/U.S. Department of Agriculture, CC BY

    This trend of earlier emergence is generally consistent across organisms with the accelerating rate of climate change. If the timing mismatches continue to worsen, it could exacerbate the decline of pollinator populations and result in inadequate pollination for plants that rely on them.

    Pollinator decline and inadequate pollination already account for a 3% to 5% decline in global fruit, vegetable, spice and nut production annually, a recent study found.

    Without pollinators, ecosystems are less resilient − they are unable to absorb disturbances such as wildfires, adapt to changes, and recover from environmental stressors such as pollution, drought or floods.

    Managing climate change

    Pollinators face many other risks from human activities, including habitat loss from development and harm from pesticide use. Climate change adds to that list.

    Taking steps to reduce the activities driving global warming can help keep these species thriving and carrying out their roles in nature into the future.

    Courtney McGinnis is affiliated with You Got This Kid Leadership Foundation. She receives funding from Community Foundation for Greater New Haven.

    – ref. Bees, fish and plants show how climate change’s accelerating pace is disrupting nature in 2 key ways – https://theconversation.com/bees-fish-and-plants-show-how-climate-changes-accelerating-pace-is-disrupting-nature-in-2-key-ways-255384

    MIL OSI – Global Reports –

  • MIL-OSI Russia: Country of migrants: the role of migration in regional development

    Translation. Region: Russian Federal

    Source: State University Higher School of Economics – State University Higher School of Economics –

    Major socio-political events, such as collectivization, caused mass internal migration in the USSR. Tens of thousands of people moved to new places to establish their daily lives and find work. These processes significantly changed the social, national and religious composition of the population of the regions, influenced economic development and the formation of healthcare and education infrastructure. Common features and characteristics of migration in the Perm region and Tuva were discussed at the round table of the “Mirror Laboratories” of the Yasinsky scientific conference.

    Internal migration in the USSR

    At the anniversary XXV Yasinsky (April) Conference The HSE hosted a round table discussion entitled “The History of Migration in the USSR: Regional Aspect.” It was organized as part of the Mirror Laboratories project, which brings together scientists from the HSE Perm campus and Tuva State University. The round table was moderated by Professor Faculty of Social, Economic and Computer Sciences, National Research University Higher School of Economics in Perm Sergey Kornienko.

    Vera Damdynchap, Head of the Department of General History, Archaeology and Documentation of the Faculty of History of Tuva State University, and Arzhana Nurzat, Senior Lecturer of the Department, presented a report entitled “Migration, Urbanization and Collectivization: Key Aspects of Social Transformation in Tuva (1944–1959).” Vera Damdynchap noted that Tuva’s accession to the USSR in 1944 accelerated the transformation of the economic structure.

    She said that by 1944 collectivization was not completed, and a significant part of the population was engaged in personal nomadic farming. Collectivization became an important element in the formation of the social structure of the population: by its end in 1955, the share of collective farmers reached 61.5% of the rural population of Tuva.

    At the same time, coal mining began in the autonomous region and enterprises in other industries began operating. This also changed the settlement structure of the population: the share of the urban population in 1944-58 increased from 6% to 33%. A particularly significant influx was recorded in the capital of the region, Kyzyl, as well as in the new cities and workers’ settlements of Chadan, Turan and Shagonar. It is significant that the total urban population increased by 1.4 times over 15 years, while its part from migrants increased by 7.6 times due to the relocation of rural residents and the arrival in Tuva of engineering and technical personnel and workers of new enterprises.

    The rapid growth of the urban population exacerbated the housing problem, which they tried to solve through temporary housing and rapid construction. It is curious that about 30% of collective farmers were involved in construction, having built 1,660 houses and cultural and household facilities.

    At the same time, the development of virgin and fallow lands began, which increased the role of farming in agriculture and the economy as a whole.

    In the post-war years, the number of Russians and Ukrainians who came to Tuva increased approximately 4 times, and their share in the population increased to 41%.

    Vera Damdynchap noted that in the autonomous region, collectivization was less dramatic than in neighboring Russian regions or, for example, in Buryatia.

    The role of forced migrants

    Associate Professor Departments of Humanities Anna Kimerling, a professor at the Faculty of Social, Economic and Computer Sciences at the National Research University Higher School of Economics in Perm, presented a report entitled “Social Technologies of Integrating Forced Migrants into the Territorial Community of the Molotov Region in the 1940s and 1950s,” prepared jointly with Sergei Kornienko.

    She said that the study is based on archival documents and interviews, including those recorded by the German society “Renaissance”. The number of residents of the Molotov (Perm) region between the censuses of 1939 and 1959 increased by 37.5%, and the regional center – by two times. For comparison: during this period, the population of the USSR increased by 9.5%.

    Among the forced migrants were about 40,000 Soviet Germans – special settlers and labor army soldiers. Until the Decree “On the lifting of restrictions on the legal status of Germans and their family members in special settlements” was adopted on December 13, 1955, they could not leave their places of residence and work.

    Economic adaptation played an important role. By the early 1950s, 11% of forced migrants had built their own homes, half had vegetable gardens, and a third had small cattle. Social and cultural factors also played a significant role. The chances of adaptation were increased by the marriage of a forced migrant to a local resident or a deportee, as well as the birth of children in the new family. This and joint work at an enterprise increased the chances of receiving housing and rations, which were used not only by workers, but also by older family members.

    Former forced migrants recalled that the attitude towards “Russian Germans” was wary. The local population was not always ready to help them, but in places of special settlements, where most of the residents were repressed, rapprochement was faster.

    The speaker named another adaptation factor as education, cultural and human capital, or a skill valued at the place of work. A labor army soldier who knew how to operate a tractor received a good ration at the logging sites. Another exile drove the head of the settlement and, thanks to personal communication, received the position of manager of a bread store, which dramatically improved the living conditions of his family.

    Over time, forced migrants played a significant role in the development of the region. For example, one of the exiled Germans later became the chief architect of the Solikamsk region, Yevgeny Wagner became the rector of the regional medical institute, and Anatoly Bartolomey became the rector of the polytechnic.

    Professor of the Department of Documentation and Information Support of the Department of History of the Ural Federal University Oleg Gorbachev asked whether individual examples of successful careers of exiled settlers can be considered a reflection of the liberalization of the regime in relation to them. According to Anna Kimerling, cases of transfer to a responsible position are few and they occurred mainly in the post-Stalin period, which reflected a certain evolution of the authorities’ attitude towards the repressed.

    Ethnic and religious aspects

    Head of the Department of Russian History at Tuva University Zoya Dorzhu and Associate Professor of the Department Alena Storozhenko presented a report on “Migration Processes in Tuva in the 1920s-50s. Ethno-confessional Aspect”. State sovereignty and autonomy formed a special state-political context of relations with neighboring regions, which also influenced migration.

    The speakers highlighted several periods of the authorities’ attitude to migration. With the establishment of the independent Tuvan People’s Republic in 1921, the authorities sought to limit the influx of Russians into its territory. Thus, checkpoints were established on the border, which, however, did not stop migration. As the country drew closer to the USSR in the 1930s, migration controls on the border were relaxed. Migration was also accelerated by the TPR authorities’ request to Moscow to send specialists. Often, the resettlements of the 1920s and 1930s were caused by the desire of some residents of nearby regions of the USSR to avoid repression and, at the same time, the desire to find a place for productive agriculture. After joining the USSR in 1944, the restrictions were lifted.

    Tuvans remained in the majority, but their share in the total population of the republic and the region fluctuated significantly. In 1921 and 1931 it was about 80%, in 1945 – 85%, and by 1959 due to mass migration it had dropped to 57%.

    Migration had a significant impact on the ethnic and religious composition of the population. Buddhists, shamanists, Orthodox Christians and pagans were represented in the republic. Moreover, the Old Believers, who appeared in Tuva back in the 19th century, integrated into its territory, and at the time of the creation of the TNR they constituted a third of the Russian-speaking residents of the republic.

    Sergey Kornienko wondered whether it was possible to find common themes in studying the migration processes of Tuva and the Perm (Molotov) region. According to Alena Storozhenko, the Uralians made up a significant portion of the Old Believers who moved to Tuva, but it is still difficult to accurately determine their share in the number of migrants.

    Organized labor migration

    Associate Professor of the Department of Humanities of the Faculty of Social, Economic and Computer Sciences of the National Research University Higher School of Economics in Perm Alexander Glushkov and Master’s student of the National Research University Higher School of Economics in Moscow Kristina Kozlova presented a report “Attracting Labor Migrant Workers to the USSR in the Late 1940s – 1950s: A Comparative Analysis of Agitation (Based on the Example of Enterprises in the Molotov Region of the RSFSR).” Alexander Glushkov recalled that in 1947, organized labor migrations resumed in the USSR. In the Molotov Region, workers were attracted to work in the coal industry, in logging enterprises and collective farms.

    Kristina Kozlova said that regional and republican authorities were engaged in agitation. In 1952, the regional executive committee issued a resolution defining the rules for selecting recruiters for resettlement and preparing agitation and reference materials.

    Among them, visual (posters) and written materials and oral propaganda can be singled out. Films were another form of propaganda. An important role was also played by materials in newspapers and magazines, including special issues of large-circulation newspapers, as well as brochures about the region, which included information about the region, as well as letters and stories from settlers.

    The recruiters’ lectures were devoted to the state and prospects of the region’s economy, as well as the international position of the USSR. Aleksandr Glushkov reported that the agitation did not cease even after the resettlement: the new residents of the region were explained the labor tasks facing them, and the authors of articles and posters also sought to reduce the number of resettlers returning home.

    The speakers compared the newspapers of two large enterprises of the region — the KamGESstroy and Molotovles trusts — before and after Stalin’s death, the forms of agitation and key narratives. The analysis showed that in the late Stalin period, non-material motives stood out: prestige, the call of the party and the desire to be useful to the Motherland. After Stalin’s death, material motivation increased: workers were offered to earn money, quickly improve their living conditions, including by acquiring a new profession. Agitation aimed at securing the settlers was focused on money and privileges.

    Kristina Kozlova summed up: a comparative analysis of the agitation of the late 1940s and mid-1950s allows us to identify common motives and a gradual transition to the prevalence of material incentives over ideological ones, although the latter did not disappear. This reflected the gradual transformation of Soviet society during the thaw.

    AI to the rescue

    Sergey Kornienko presented the report “Studying the History of Migration in the Digital Environment: Regional Aspect” (based on the materials of the joint project of HSE Perm and Tuva State University “Migration in the Socio-Economic, Demographic, Cultural and Human Dimensions”. HSE Mirror Laboratories Program, 2024-26).

    He identified three areas of digital scientific humanities research: creation and organization of digital versions of historical and historiographic sources; development and adaptation of methods, technologies and tools for digital research; representation of data and research results.

    During the project, its participants create digital versions of historical sources on the history of migration, including in the form of tables and data sets, information systems and databases.

    The professor said that rather complex types of sources have to be converted into digital format, in particular, lists of settlers, echelon lists, as well as household books describing the dwellings, livestock and inventory of settlers. Despite the development of technology, it is often necessary to resort to manual or semi-automatic digitization. Students are involved in this work, acquiring useful skills in digitizing documents. Digitized sources are convenient for conversion into tabular and matrix forms.

    Digital processing of document complexes allows us to eliminate gaps in some points of individual materials (for example, the absence of the year of birth or previous place of residence of a migrant), and to create metadata.

    To study propaganda materials for settlers of the 1940s and 50s, full-text resources were created, prepared for processing by computer methods and tools. In particular, this form of processing was used for the corpus of memoirs of settlers who moved to the Kaliningrad and Molotov regions.

    In addition, scientists conduct corpus studies using linguistic methods.

    Sergey Kornienko emphasized that digital methods allow increasing the reliability of research, introducing elements of novelty, introducing new sources more fully and processing old ones more effectively. This helps to better understand the impact of migration processes on the social structure and other components of migrants’ lives.

    The project participants will continue to use Data Science methods and apply neural network modeling – variants of artificial intelligence, the professor concluded.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Economics: Samsung TV Plus Scores Big as It Becomes a Top Destination for Sports Fans

    Source: Samsung

    Samsung TV Plus has expanded its industry-leading sports offering and now gives fans live access to select local and national games from top sports leagues and governing bodies, delivering extensive sports coverage. During the 2024-25 season, fans in Southern California were the first to experience Victory+ Anaheim, an exclusive FAST channel featuring live, local Anaheim Ducks games, and fans will soon be able to tune into the upcoming 2025-26 and 2026-27 seasons. As Samsung TV Plus expands its regional lineup to bring subscription-free hometown action front and center, Dallas Stars fans will be able to enjoy live games for the 2025-26 season on a new Victory+ Dallas channel that will premiere on the service later this year.
    On a national level, Samsung TV Plus has also added NASCAR, featuring original programming and continuous race coverage, as well as The Roku Sports Channel, which will broadcast live MLB games, Formula E races, X games, among others.
    With the launch of these new channels, and more exciting additions on the horizon this year, Samsung TV Plus further cements its position as the leading destination for sports fans to watch live games, extensive archives, and legendary replays with coverage across major sports leagues such as NFL, NHL, and MLB, as well as UFC, PGA TOUR, Formula 1, and FIFA.
    “We’re tearing down the paywalls that have kept fans from the sports they love,” said Salek Brodsky, Senior Vice President and Global Head of Samsung TV Plus. “By teaming up with top leagues and bringing live games and iconic moments to our platform, we’re giving every fan a front-row seat.”
    New sports channels include:
    Victory+ Anaheim: Local viewers can stream live Anaheim Ducks games, along with additional sports entertainment including highlights, recaps, and epic match-ups that bring fans closer to the action.
    Victory+ Dallas: Local viewers can stream live Dallas Stars games, along with additional sports entertainment including highlights, recaps, and epic match-ups that bring fans closer to the action.
    Roku Sports Channel: Catch everything from live MLB games to Formula E races to X Games, among others. Plus, stream daily sports talk from Rich Eisen and Good Morning Football: Overtime.
    NASCAR: Watch the latest news from around the sport, original programming, and race replays.
    PBR RidePass: Live and on-demand action from the PBR (Professional Bull Riders) Unleash The Beast Tour, PBR Team Series, Ultimate Bull Fighting, rodeo and other western sports events, plus original series and news.
    These five new channels join the over 50 that are already streaming on Samsung TV Plus today. Highlights below:
    Sports Leagues:
    NFL Channel: 24/7, always-on access to NFL content featuring Game Center on live game days, with real-time scoring updates, stats, highlights and more, as well as NFL Game Replays, Original Shows, Emmy-Award winning series and more.
    MLB: Brings the best of baseball coverage, allowing viewers to enjoy the MLB FAST channel with daily programming and features covering the latest baseball highlights, MLB and MiLB game replays, original shows, documentaries, and more!
    FIFA+: Brings fans into the heart of football with the iconic World Cup Archive, Live football from around the globe and documentaries bring the stories behind the beautiful game. Go behind the scenes with spotlights on global stars, fans and influencers and relive iconic football moments with full match replays from past FIFA World Cup and FIFA Women’s World Cup tournaments.
    Formula 1 Channel: The ultimate destination for fans to catch up on all the action from F1, F2, F3 and F1 Academy races throughout the season, including analysis, replays and documentaries.
    PGA TOUR: Delivers total coverage on all things PGA TOUR, with behind-the-scenes programming, documentaries, tournament recaps, highlights, competitions, and more.
    UFC: Delivers nonstop combat sports action—from historic title clashes to highlight-reel knockouts—featuring iconic athletes, rivalries, and moments from the world’s premier MMA organization.
    Live Sports:
    ION: Returning in May, the State Farm® WNBA Friday Night Spotlight showcases marquee games from across the league throughout the regular season. ION also features National Women’s Soccer League (NWSL) action, and this fall, debuts the biennial SI Women’s Games all-star competition and the Elevance Health Women’s Fort Myers Tip-Off women’s college basketball tournament.
    Tennis Channel 2: Tennis Channel’s second network, airing select live tournament coverage from both the women’s and men’s professional tours. The network also features original series and unique storylines & interviews from shows like Second Serve.
    Women’s Sports Network: The new home for women’s sports featuring exclusive live volleyball matches, breaking news, and inspiring stories across all sports. The best leagues. The best athletes. The best of Women’s Sports all in one place. Featuring our studio show GAME ON, live game action, signature originals, countdowns, highlights and more.
    PickleballTV: A 24-hour streaming network covering 1,000+ hours of live tournament matches features the game’s top professionals & biggest stars.  PBTV also includes first-class instruction, lifestyle shows and pickleball news.
    Sports Talk & Highlights:
    CBS Sports HQ: A 24/7 sports network delivering everything that matters most to sports fans. With nonstop breaking news, highlights, instant reactions, picks and more, CBS Sports HQ is your ultimate sports destination.
    FOX Sports: Stream the best moments from FS1weekday studio shows, gripping documentaries and captivating podcasts, featuring well-known FOX Sports talent and media personalities.
    NBC Sports NOW: Offers daily sports talk, live events and highlights. Watch Dan Patrick, Mike Florio, Dan Le Batard, Matthew Berry and Chris Simms cover the biggest stories on and off the field. And this month, NBC Sports NOW went big with 113 hours of original NFL Draft content.
    DraftKings Network: “The Action Spot”. Built for passionate fans and bettors, DraftKings Network is the one spot to get all-in on NBA, NFL, MLB, NHL & more sports content and celebrate the thrill of action.
    FanDuel TV Extra: Your new home for live sports and professional poker action. Watch live horse racing, international basketball, soccer, darts, and much more. Make every moment more with FanDuel!
    For a full list of the Sports lineup, visit samsungtvplus.com.
    How to Watch
    Samsung TV Plus offers the best of TV – and is available exclusively across the Samsung TV, Galaxy, Smart Monitor, and Family Hub lineups. This includes the Samsung Neo QLED 8K, Neo QLED 4K, OLED, and The Frame, which are designed with advanced AI that can upscale your favorite shows and movies on Samsung TV Plus into stunning 4K and 8K quality.
    About Samsung TV Plus
    Samsung TV Plus is a premium global entertainment service and is the most used streaming app on Samsung Smart TVs. As a leader in FAST, Samsung TV Plus offers hundreds of channels and thousands of shows and movies on-demand in the U.S. Globally, the streaming service carries over 3,500 ad-supported linear channels in 30 countries and is accessible on over 630M active devices. Samsung TV Plus is the exclusive home of Conan O’Brien TV, Letterman TV, and hundreds of additional exclusive channels available worldwide. Samsung TV Plus is available on Samsung TVs, Galaxy devices, Samsung Smart Monitor, and Family Hub. To learn more, visit samsungtvplus.com. Follow us on LinkedIn.

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: Cabinet approves Fair and Remunerative Price of sugarcane payable by Sugar Mills to sugarcane farmers for sugar season 2025-26

    Source: Government of India

    Cabinet  approves Fair and Remunerative Price of sugarcane payable by Sugar Mills to sugarcane farmers for sugar season 2025-26

    Fair and Remunerative Price of Rs. 355/qtl approved for Sugarcane Farmers  

    Decision will benefit 5 crore sugarcane farmers  and their dependents, as well as 5 lakh workers employed in the sugar mills and related ancillary activities

    Posted On: 30 APR 2025 4:09PM by PIB Delhi

    Keeping in view interest of sugarcane farmers (GannaKisan), the Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi has approved Fair and Remunerative Price (FRP) of sugarcane for sugar season 2025-26 (October – September) at Rs.355/qtl for a basic recovery rate of 10.25%, providing a premium of Rs.3.46/qtl for each 0.1% increase in recovery over and above 10.25%, & reduction in FRP by Rs.3.46/qtl for every 0.1% decrease in recovery.

    However, the Government with a view to protect interest of sugarcane farmers has also decided that there shall not be any deduction in case of sugar mills where recovery is below 9.5%. Such farmers will get Rs.329.05/qtl for sugarcane in ensuing sugar season 2025-26.

    The cost of production (A2 +FL) of sugarcane for the sugar season 2025-26 is Rs.173/qtl. This FRP of Rs.355/qtl at a recovery rate of 10.25% is higher by 105.2% over production cost. The FRP for sugar season 2025-26 is 4.41% higher than current sugar season 2024-25.

    The FRP approved shall be applicable for purchase of sugarcane from the farmers in the sugar season 2025-26 (starting w.e.f. 1st October, 2025) by sugar mills. The sugar sector is an important agro-based sector that impacts the livelihood of about 5 crore sugarcane farmers and their dependents and around 5 lakh workers directly employed in sugar mills, apart from those employed in various ancillary activities including farm labour and transportation.

    Background:

    The FRP has been determined on the basis of recommendations of Commission for Agricultural Costs and Prices (CACP) and after consultation with State Governments and other stake-holders.

    In the previous sugar season 2023-24, out of cane dues payable of ₹ 1,11,782 crores about Rs.1,11,703 crores cane dues have been paid to farmers, as on 28.04.2025; thus, 99.92% cane dues have been cleared. In the current sugar season 2024-25, out of cane dues payable of Rs.97,270 crore about Rs.85,094 crores cane dues have been paid to farmers, as on 28.04.2025; thus, 87% cane dues have been cleared.

    ****

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    MIL OSI Asia Pacific News –

  • MIL-OSI United Kingdom: Roundtable to help turbo-charge Scotland’s agriculture industry

    Source: United Kingdom – Executive Government & Departments

    News story

    Roundtable to help turbo-charge Scotland’s agriculture industry

    Scotland Office Minister Kirsty McNeill to hear from sector experts on barriers to growth in the Scottish agri-food supply chain

    Leading members of Scotland’s agriculture sector will join the UK and Scottish Governments in Edinburgh today (April 30) to investigate key issues facing the agri-food supply chain – and help identify potential solutions.

    Minister McNeill pledged to host a food and farming roundtable with industry when she attended the NFU Scotland (NFUS) conference earlier this year.

    The Minister will be joined by Defra and Department for Business and Trade representatives as well as Scottish Government Agriculture Minister, Jim Fairlie

    It’s part of ongoing extensive engagement with a sector crucial to the UK Government’s Plan for Change to deliver security and renewal by kick-starting economic growth to create jobs, put more money in working people’s pockets, boost economic growth and improve living standards right across the UK, including rural communities which are vital to feeding the UK and achieving net zero.

    Up for discussion will be: immigration and access to labour; fairness in the supply chain; and supporting economic growth.

    While the topics for discussion are policy areas reserved to the UK Government, agriculture is almost entirely devolved to the Scottish Government.

    UK Government Scotland Office Minister Kirsty McNeill said:

    Food and farming are vital to the country and this is an important opportunity for the industry and government to discuss issues and identify creative solutions.

    There is much we can and are doing for the sector through the UK Government’s Plan for Change to turbo-charge economic growth and deliver a decade of national renewal and opportunity for all. But I appreciate that there are a number of highly complex issues facing Scottish agriculture and I look forward to a constructive discussion.

    We will continue to engage with this vital industry and we will continue to strengthen relations with the Scottish Government, respecting the fact that agriculture policy is largely devolved.

    Scottish Government Agriculture Minister Jim Fairlie said:

    The Scottish Government is committed to supporting our agriculture sector in sustainable food production whilst also contributing to nature and climate targets. We are reforming how we support farming and food production, towards our Vision for Agriculture for Scotland to become a global leader in sustainable and regenerative agriculture.

    Recent and ongoing global events show the fragility of food security, and we are taking action to improve Scotland’s food resilience and strengthen our supply chains. We will continue to work with the UK Government and across the sector to monitor the threats to the supply chain and mitigate against future shocks and impacts on food security.

    NFU Scotland President Andrew Connon said:

    NFU Scotland is pleased to attend the Scotland Office Food and Farming Roundtable this week and represent our members across the country. We will be discussing important issues such as barriers to growth, seasonal workers and immigration and fairness in the supply chain – each critical for a profitable and sustainable future agricultural sector in Scotland.

    We look forward to underlining the importance of farmers and crofters to the food and drink industry and to rural communities and hearing what actions the UK Government will take to help address the issues seriously impacting our sector currently.

    The Scottish food and drink manufacturing sector has grown by more than 35% over the last decade and now contributes £5.2 billion to the Scottish economy, while accounting for over one third of Scotland’s manufacturing turnover.

    Office for National Statistics data, analysed by the Food and Drink Federation, also showed that the industry provides around 47,000 jobs in Scotland’s 1,220 food and drink businesses.

    Industry attendees expected at Queen Elizabeth House are:
    NFUS
    Quality Meat Scotland
    Scottish Crofters’ Federation
    Scotland Food & Drink
    Food and Drink Federation
    Scottish Association of Meat Wholesalers
    Agricultural Industries Confederation
    Aberdeen & Northern Marts Group
    James Hutton Institute
    SRUC
    Scottish Agricultural Organisation Society
    Angus Growers
    Scottish Land & Estates
    Food & Agriculture Stakeholder Taskforce
    Scottish Tenant Farmers’ Association

    Updates to this page

    Published 30 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: New Chief Executives appointed to lead TRA

    Source: United Kingdom – Executive Government & Departments

    News story

    New Chief Executives appointed to lead TRA

    The UK Trade Remedies Authority has confirmed the appointment of Jessica Blakely and Carmen Suarez as Chief Executives in a jobshare arrangement.

    The UK Trade Remedies Authority (TRA) has today confirmed the appointment of Jessica Blakely and Carmen Suarez as Chief Executives in a jobshare arrangement. They will take up the role from 2 June.

    The Trade Remedies Authority is the UK’s independent public body responsible for investigating allegations of unfair trading practices and unforeseen surges in imports that cause injury to UK industry. It makes evidence-based recommendations to the Secretary of State for Business and Trade. 

    The TRA’s Chair Nick Baird recently met with the Secretary of State for Business and Trade to agree how during the current global trade turmoil, the TRA will be stepping up its active data monitoring of emerging trade risks to help the Government spot and tackle the potential dumping of unfairly low-priced goods into the UK.

    New leadership on trade remedies

    Jessica and Carmen join the TRA from the Ministry of Housing, Communities and Local Government (MHCLG) and have held a number of senior roles both within and outside government, with a particular focus on trade, investment and regulation.

    Business and Trade Secretary Jonathan Reynolds said:  

    “This Government is standing up for our national interest, and as part of our Plan for Change, creating a level playing field where UK businesses can thrive and grow.

    The work of the TRA has never been more important in achieving this objective, and I’m delighted to welcome Jessica and Carmen to their new role. Their skills will be vital to ensure the TRA continues to protect British producers from unfairly low-priced imports.”

    Jessica and Carmen have jobshared since 2017. Their senior roles together have included: leading the Department for Business’ (BEIS) analytical work on EU Exit and international trade; the coordination of the UK Government work on no-deal business readiness; Senior Responsible Officers (SROs) for the level playing field chapter of the UK/EU trade negotiations (including subsidy control and remedial measures); establishing the UK’s domestic subsidy control regime; leading on Brexit Opportunities and regulatory reform in Cabinet Office; and most recently, leading the delivery of local growth funds and Freeports in MHCLG.

    Before joining the Civil Service, Jessica’s career featured 12 years working in Investment Banking, providing strategic and financial advice to CEOs and boards of directors on mergers, acquisitions and capital raisings in London, Singapore and Sydney. After joining the Civil Service in 2010, she led analytical work in BEIS’ Better Regulation Executive and then the Europe Directorate.

    Carmen joined the Civil Service in 2017 from the Financial Conduct Authority, where she led on embedding competition in financial regulation. Previously, she worked at the Competition and Markets Authority and Office of Fair Trading. including as lead on a number of market studies and head of evaluation. Before these Civil Service roles, she was Chief Economist at the National Farmers Union of England and Wales.

    TRA Chair Nick Baird said: ‘I am delighted that two leaders of Jessica and Carmen’s quality have joined us at this turbulent time in the international trade environment. They have exactly the skills and experience to lead the TRA through the changes that are needed to help UK business navigate this new world.’

    New appointees Carmen and Jessica said: “We are thrilled to be joining the TRA and look forward to working with its Board, staff and stakeholders to ensure that trade remedies, particularly at this crucial time, are a cornerstone of the UK’s international standing and growth ambitions.”

    Background Information

    • Trade remedy measures are a trade defence tool to protect domestic industries against injury caused by unfair trade practices or unforeseen increases in imports. They are a specific type of tariffs allowed under World Trade Organization rules when specific criteria are met (evidence of dumping, subsidy or a surge in imports). They usually take the form of an additional duty placed on imports of specific products, which are collected by HMRC prior to a good entering into free circulation.
    • The TRA has been led by Steve O’Donoghue as interim Chief Executive since March 2025, when the TRA’s previous Chief Executive Oliver Griffiths left to take up a new role – TRA announces interim CEO and confirms board leadership – GOV.UK.

    Updates to this page

    Published 30 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Experienced practitioners vital for educating youngest children

    Source: United Kingdom – Executive Government & Departments

    Press release

    Experienced practitioners vital for educating youngest children

    Delivering high-quality care and education for babies and toddlers takes skill and expertise, meaning experience and qualifications among early years workers matter when it comes to the youngest children’s development, new research by Ofsted shows.

    Ofsted’s report, published today, looks at how early years practitioners care for and educate babies and toddlers up until they are 2 years old. The aim of the report is to help early years leaders and staff refine their approach to supporting the youngest children.   

    Read the full report: Getting it right from the start: how early years practitioners work with babies and toddlers

    The report highlights the importance of practitioner experience and qualifications, finding that those with greater experience and a higher level of qualifications had better knowledge of child development.  

    The research also considered to what extent practitioners use the early years foundation stage (EYFS) statutory framework when educating and caring for toddlers and babies. It found that the ‘key person’ role is a strength of many providers, with early years practitioners recognising that this role is vital for babies and toddlers.    

    Ofsted also found: 

    • most practitioners recognise the importance of positive relationships with parents in helping them support children more effectively 

    • communication and language, and personal, social and emotional development were well understood by practitioners, but they did not always understand how they could support physical development as well 

    • there is some work to do in understanding how routine times can be used for high-quality interactions, particularly where mixed ages are grouped together   

    • some survey responses reflected a misconception that babies and toddlers are too young to be taught anything  

    • some of the challenges considered in the research may be partly influenced by ongoing difficulties in recruiting and retaining experienced practitioners  

    The report sets out a series of recommendations for practitioners, managers and policy-makers to achieve the best possible outcomes for babies and toddlers. Foremost is support for practitioners to take part in professional development specific to babies and toddlers to improve their qualifications and experience. 

    Jayne Coward, Ofsted’s Deputy Director of Early Years Regulatory Policy and Practice, said:

    We know that a child’s first few years are crucial to their future learning and development. By providing children with an excellent start in those first two years, we can ensure that they gain the foundation they need to thrive throughout school and beyond.  

    With the government’s childcare reforms, we can expect to see an increase in the number of babies and toddlers accessing early education. It’s vital we get it right for all of these children from the very start. I hope that this report helps early years practitioners to continue reflecting on and refining their approach to supporting our very youngest children.

    Press office

    8.30am to 6pm Monday to Friday 0300 013 0415

    Notes to editors 

    1. The report draws on a series of visits to early years settings, a survey, inspector focus groups and a literature review. 
    2. Ofsted will be considering these findings when developing inspector training.

    Updates to this page

    Published 30 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Credit Agricole Sa: Results first quarter 2025 – INCREASED REVENUES, STRONG PROFITABILITY DESPITE EXCEPTIONAL HIGH TAX IMPACT

    Source: GlobeNewswire (MIL-OSI)

                                       INCREASED REVENUES, STRONG PROFITABILITY
                                             DESPITE EXCEPTIONAL HIGH TAX IMPACT    		  
               
      CRÉDIT AGRICOLE S.A. CRÉDIT AGRICOLE GROUP    
      Q1 2025 Var. Q1/Q1 Q1 2025 Var Q1/Q1    
    Revenues 7,256 +6.6% 10,048 +5.5%    
    Expenses -3,991 +8.8% -5,992 +7.2%    
    Gross Operating Income 3,266 +4.1% 4,056 +3.0%    
    Cost of risk -413 +3.4% -735 +12.9%    
    Net pre-tax income 2,900 +4.6% 3,399 +1.6%    
    Net income group share 1,824 -4.2% 2,165 -9.2%    
    C/I ratio 55.0% +1.1 pp 59.6% +1.0 pp    
    NET PRE-TAX INCOME UP

    • Record quarterly revenues and strong growth, fuelled by the excellent performance by Asset Gathering and Large Customers
    • High profitability: contained cost/income ratio (increase in expenses of +3.2% Q1/Q1 excluding exceptional elements) and 15.9% return on tangible equity
    • Stable cost of risk
    • Results impacted by additional corporate tax charge

    EXCELLENT PERFORMANCE IN CIB AND ASSET GATHERING DIVISION

    • High CIB, asset management and insurance business, reflected in the increased level of insurance revenues with contributions from all activities, net inflows (medium-long term) and a record level of assets under management, as well as a new record reached by CIB
    • Loan production in France recovered compared with the low point in early 2024 without

    confirming the end-of-year momentum and consumer finance down, impacted by

    decreased activity in automotive financing; international credit activity at a high level.

    CAPITAL OPERATIONS AND STRATEGIC PROJECTS

    • Creation of the GAC Sofinco Leasing joint venture
      • Partnership created between Amundi and Victory Capital
    • Stake in the capital of Banco BPM increased to 19.8%
      • Planned acquisition of Banque Thaler announced by Indosuez Wealth Management

    AS EXPECTED, SOLVENCY RATIOS BENEFITING FROM THE POSITIVE IMPACT OF CRR3.

    • Crédit Agricole S.A.’s phased-in CET1 at 12.1% and Group phased-in CET1 at 17.6%

    CONTINUED SUPPORT FOR THE ENERGY TRANSITION

    • Continued withdrawal from fossil energies and reallocation to low-carbon energy sources
    • Support for the transition of households and businesses
     

    Dominique Lefebvre,
    Chairman of SAS Rue La Boétie and Chairman of the Crédit Agricole S.A. Board of Directors

    “Quarter after quarter, Crédit Agricole continues its action to support the major societal, environmental, agricultural and agri-food transitions, which are solid development levers for the entire Group. I would like to thank each of our employees for their daily commitment to serving our customers.“
     
     

    Philippe Brassac,
    Chief Executive Officer of Crédit Agricole S.A.

    “The Group has published high-level results this quarter, driven by strong revenue growth, despite exceptional taxation. Crédit Agricole S.A. posted record revenues this quarter and high profitability.”

    		  

    This press release comments on the results of Crédit Agricole S.A. and those of Crédit Agricole Group, which comprises the Crédit Agricole S.A. entities and the Crédit Agricole Regional Banks, which own 62.8% of Crédit Agricole S.A.

    All financial data are now presented stated for Crédit Agricole Group, Crédit Agricole S.A. and the business lines results, both for the income statement and for the profitability ratios.

    Crédit Agricole Group

    Group activity

    The Group’s commercial activity during the quarter continued at a steady pace across all business lines, with a good level of customer capture. In the first quarter of 2025, the Group recorded +550,000 new customers in retail banking. More specifically, over the year, the Group gained +433,000 new customers for Retail Banking in France and 117,000 new International Retail Banking customers (Italy and Poland).

    At 31 March 2025, in retail banking, on-balance sheet deposits totalled €835 billion, up +1.3% year-on-year in France and Italy (+1.6% for Regional Banks and LCL and -2.1% in Italy). Outstanding loans totalled €881 billion, up +1.0% year-on-year in France and Italy (+1.0% for Regional Banks and LCL and +1.6% in Italy). The upturn in home loan production continued in France compared to the low point observed at the beginning of 2024, without confirming the end-of-year momentum, partly explained by the seasonal effect, recording an increase of +37% for the Regional Banks and +46% for LCL compared to the first quarter of 2024, and -4.3% and -34% respectively compared to the fourth quarter of 2024. Home loan production by CA Italia is high and up +19% compared with the first quarter of 2024. The property and casualty insurance equipment rate1 rose to 44.2% for the Regional Banks (+0.8 percentage points compared to the first quarter of 2024), 28.0% for LCL (+0.2 percentage point) and 20.3% for CA Italia (+1.0 percentage point).

    In asset management, quarterly inflows remained strong at +€31.1 billion, fuelled by strong medium/long-term assets, excluding JVs (+€37 billion). In insurance, savings/retirement gross inflows rose to a record €10.8 billion over the quarter (+27% year-on-year), with the unit-linked rate in production staying at a high 34.3%. Net inflows were positive at +€4 billion, growing for both euro-denominated and unit-linked contracts. The strong performance in property and casualty insurance was driven by price changes and portfolio growth (16.8 million contracts at end-March 2025, +5% year-on-year). Assets under management totalled €2,878 billion, up +8.7% in the year for all three segments: asset management rose +6.2% over the year to €2,247 billion; life insurance was up +5.2% to €352 billion; and wealth management (Indosuez Wealth Management and LCL Private Banking) increased +41.3% year-on-year to €278 billion, notably with the positive impact of the consolidation of Degroof Petercam (€69 billion in assets under management consolidated in the second quarter of 2024).

    Business in the SFS division decreased. At CAPFM, consumer finance outstandings increased to €120.7 billion, up +5.6% compared with the end of March 2024, with car loans representing 54%2 of total outstandings, while new loan production decreased slightly, by -6.4% compared with end-March 2024, mainly due to the economic context negatively impacting the automotive market in Europe and China. Regarding Crédit Agricole Leasing & Factoring (CAL&F), production of lease financing outstandings was up +5.7% compared to March 2024 to €20.5 billion, with a particularly strong contribution from property leasing and renewable energy financing in France.

    Large Customers again posted record revenues for the quarter in Corporate and Investment Banking. Capital Markets and Investment Banking was driven by all activities, supported by high volatility, while Financing activities reaped the benefits of growth in commercial activities. Asset Servicing recorded a high level of assets under custody of €5,467 billion and assets under administration of €3,575 billion (+9% and +4.7%, respectively, compared with the end of March 2024), with good sales momentum and positive market effects over the year.

    Continued support for the energy transition

    The Group is continuing the mass roll-out of financing and investment to promote the transition. The Crédit Agricole Group increased its exposure to low-carbon energy financing3 by +141% between the end of 2020 and the end of 2024, with €26.3 billion in financing at 31 December 2024. Investments in low-carbon energy4 totalled €6 billion at 31 December 2024.

    At the same time, as a universal bank, Crédit Agricole is supporting the transition of all its customers. Thus, outstandings related to the environmental transition5 amounted to €111.7 billion at 31 December 2024, including €86.7 billion for energy-efficient buildings and €5.3 billion for clean transport and mobility.

    In addition, the Group is continuing its exit path from carbon-based energy financing and disclosed its exposure to hydrocarbon extraction project financing6, down to $0.96 billion at the end of 2024, i.e. -30% compared to 2020. The target of a -25% reduction of exposure to oil extraction at the end of 2025 compared to 2020 was greatly exceeded at the end of 2024 and stands at -56%.

    Group results

    In the first quarter of 2025, Crédit Agricole Group’s net income Group share came to €2,165 million, down

    -9.2% compared to the first quarter of 2024.

    Credit Agricole Group, Income statement Q1-25 and Q1-2024

    €m Q1-25 Q1-24 ∆ Q1/Q1  
    Revenues 10,048 9,525 +5.5%  
    Operating expenses (5,992) (5,589) +7.2%  
    Gross operating income 4,056 3,936 +3.0%  
    Cost of risk (735) (651) +12.9%  
    Equity-accounted entities 75 68 +9.5%  
    Net income on other assets 4 (7) n.m.  
    Change in value of goodwill – – n.m.  
    Income before tax 3,399 3,347 +1.6%  
    Tax (1,041) (755) +37.9%  
    Net income from discont’d or held-for-sale ope. (0) – n.m.  
    Net income 2,358 2,592 (9.0%)  
    Non controlling interests (193) (208) (7.2%)  
    Net income Group Share 2,165 2,384 (9.2%)  
    Cost/Income ratio (%) 59.6% 58.7% +1.0 pp  

    In the first quarter of 2025, revenues amounted to €10,048 million, up +5.5% compared to the first quarter of 2024, driven by favourable results from most of the business lines. Revenues were up in French Retail Banking, while the Asset Gathering division benefited from good business momentum and the integration of Degroof Petercam, the Large Customers division enjoyed a high level of revenues across all of its business lines and the Specialised Financial Services division benefited from a positive price effect, compensating slightly down revenues in international retail banking. Operating expenses were up +7.2% in the first quarter of 2025, totalling €5,992 million. Overall, Credit Agricole Group saw its cost/income ratio reach 59.6% in the first quarter of 2025, up by +1.0 percentage point. As a result, the gross operating income stood at €4,056 million, up +3.0% compared to the first quarter of 2024.

    The cost of credit risk stood at -€735 million, a year-on-year increase of +12.9% compared to the first quarter of 2024. This figure comprises an amount of -€47 million to prudential provisions on performing loans (stages 1 and 2) and an amount of -€677 million for the cost of proven risk (stage 3). There was also an addition of -€11 million for other risks. The provisioning levels were determined by taking into account several weighted economic scenarios and by applying some flat-rate adjustments on sensitive portfolios. The weighted economic scenarios for the first quarter are the same used for the previous quarter. The cost of risk/outstandings7reached 27 basis points over a four rolling quarter period and 24 basis points on an annualised quarterly basis8.

    Pre-tax income stood at €3,399 million, a year-on-year increase of +1.6% compared to first quarter 2024. This includes the contribution from equity-accounted entities for €75 million (up +9.5%) and net income on other assets, which came to +€4 million over this quarter. The tax charge was -€1,041 million, up +37.9% over the period, with the tax rate this quarter rising by +8.3 percentage points to 31.3%. This increase is related to the exceptional corporate income tax of €-207 million at the Crédit Agricole Group level, corresponding to an estimation of €-330 million in 2025 (assuming 2025 fiscal result being equal to 2024 fiscal result). Net income before non-controlling interests was down -9.0% to €2,358 million. Non-controlling interests decreased -7.2%.

    Regional banks

    Gross customer capture stands at +319,000 new customers. The percentage of customers using demand deposits as their main account is stable and those who use digital tools continued to increase. Credit market share (total credits) stood at 22.7% (at the end of December 2024, source Banque de France), up by 0.1 percentage point compared to December 2023. Loan production was up +19.4% compared to the first quarter of 2024, reflecting the +37% rise in home loans and 8% in specialised markets. However, home loan production has slowed compared to the strong activity at the end of the year (-4.8% compared to the fourth quarter of 2024). The average lending production rate for home loans stood at 3.18%9 over January and February 2025, -17 basis points lower than in the fourth quarter of 2024. By contrast, the global loan stock rate showed a gradual improvement (+11 basis points compared to the first quarter of 2024). Outstanding loans totalled €649 billion at the end of March 2025, up by 0.8% year-on-year across all markets and up slightly by +0.2% over the quarter.   
    Customer assets were up +2.5% year-on-year to reach €915.7 billion at the end of March 2025. This growth was driven both by on-balance sheet deposits, which reached €603.2 billion (+1.3% year-on-year), and off-balance sheet deposits, which reached €312.6 billion (+5% year-on-year) benefiting from strong inflows in life insurance. Over the quarter, demand deposits slightly decreased by -1.1% compared to the fourth quarter of 2024, while term deposits are stable. The market share of on-balance sheet deposits is up compared to last year and stands at 20.1% (Source Banque de France, data at the end of December 2024, i.e. +0.2 percentage points compared to December 2023). The equipment rate for property and casualty insurance10 was 44.2% at the end of March 2025 and continues to rise (up +0.8 percentage point compared to March 2024). In terms of payment instruments, the number of cards rose by +1.8% year-on-year, as did the percentage of premium cards in the stock, which increased by 1.8 percentage point year-on-year to account for 17% of total cards.
    In the first quarter of 2025, the Regional Banks’ consolidated revenues stood at €3,339 million, up +1.3% compared to the first quarter of 2024, notably impacted by a base effect of +€41 million related to the reversal of the Home Purchase Savings Plan provision in the first quarter of 202411. Excluding this item, revenues were up +2.6% compared to the first quarter of 2024, benefiting from the increase in the intermediation margin and stable fee and commission income, mainly driven by account management and payment instruments (+3.3%). Operating expenses posted a contained increase (+1.8%). Gross operating income was stable year-on-year (+5.2% excluding the base effect11). The cost of risk increased by +28.7% compared to the first quarter of 2024 to -€318 million. The cost of risk/outstandings (over four rolling quarters) remained under control at 21 basis points (a 1 basis point increase compared to fourth quarter 2024).
    Thus, the net pre-tax income was down -11.6% and stood at €522 million. The Regional Banks’ consolidated net income was €346 million, down -21.2% compared to the first quarter of 2024, especially impacted by the corporate income tax surcharge (-15.3% excluding the base effect 11).
    The Regional Banks’ contribution to net income Group share was €341 million in the first quarter of 2025, up -23% compared to the first quarter of 2024 (-17% excluding base effect11).

    Crédit Agricole S.A.

    Results

    Crédit Agricole S.A.’s Board of Directors, chaired by Dominique Lefebvre, met on 29 April 2025 to examine the financial statements for the first quarter of 2025.

    Credit Agricole S.A. – Income statement, Q1-25 and Q1-24

    En m€ T1-25 T1-24 ∆ T1/T1
    Revenues 7,256 6,806 +6.6%
    Operating expenses (3,991) (3,669) +8.8%
    Gross operating income 3,266 3,137 +4.1%
    Cost of risk (413) (400) +3.4%
    Equity-accounted entities 47 43 +9.2%
    Net income on other assets 1 (6) n.m.
    Change in value of goodwill – – n.m.
    Income before tax 2,900 2,773 +4.6%
    Tax (827) (610) +35.5%
    Net income from discont’d or held-for-sale ope. 0 – n.m.
    Net income 2,073 2,163 (4.1%)
    Non controlling interests (249) (259) (3.9%)
    Net income Group Share 1,824 1,903 (4.2%)
    Earnings per share (€) 0.56 0.50 +11.4%
    Cost/Income ratio (%) 55.0% 53.9% +1.1 pp

    In the first quarter of 2025, Crédit Agricole S.A.’s net income Group share amounted to €1,824 million, a decrease of -4.2% from the first quarter of 2024. The results of the first quarter of 2025 are based on high revenues, a cost/income ratio maintained at a low level and a controlled cost of risk, but are impacted by the corporate income tax surcharge. Pre-tax income is high, up +4.6% compared to the first quarter of 2024.

    In the first quarter of 2025, revenues were at a record level, standing at €7,256 million. They were up sharply (+6.6%) compared to the first quarter of 2024. This growth was driven by growth in the Asset Gathering division (+15%) which in turn was driven by strong activity and the rise in outstandings across all business lines, including the integration of Degroof Petercam12. Large Customer division revenues (+6.3%) were driven by good results from all business lines with continued revenue growth in corporate and investment banking (with a record revenue level for Crédit Agricole CIB) in the first quarter, in addition to an improvement in the net interest margin and fee and commission income within CACEIS. Specialised Financial Services division revenues (+2.6%) benefited mainly from positive price effects in the Personal Finance and Mobility business line. French Retail Banking growth (+1.0%) was driven by the rise in fee and commission income, and International Retail Banking revenues (-3.0%) were impacted by a base effect related to exceptional foreign exchange activity in Egypt in the first quarter of 2024. Revenues from the Corporate Centre recorded an increase of +€40 million, favourably impacted by the revaluation of the stake in Banco BPM.

    Operating expenses totalled -€3,991 million in the first quarter of 2025, an increase of +8.8% compared to the first quarter of 2024, reflecting the support given to business line development. The increase in expenses of -€322 million between the first quarter of 2024 and the first quarter of 2025 is partly made up of a scope effect and integration costs of -€138 million13 and IFRIC impact of -€72 million. Other expenses increase by -€113 million (+3.2%).

    The cost/income ratio thus stood at 55.0% in the first quarter 2025, increasing by +1.1 percentage point compared to the first quarter of 2024.

    Gross operating income in the first quarter of 2025 stood at €3,266 million, an increase of +4.1% compared to the first quarter of 2024.

    As at 31 March 2025, risk indicators confirm the high quality of Crédit Agricole S.A.’s assets and risk coverage level. The diversified loan book is mainly geared towards home loans (26% of gross outstandings) and corporates (45% of Crédit Agricole S.A. gross outstandings). The Non Performing Loans ratio showed little change from the previous quarter and remained low at 2.3%. The coverage ratio14 was high at 74.9%, up +0.8 percentage points over the quarter. Loan loss reserves amounted to €9.4 billion for Crédit Agricole S.A., a -€0.2 billion decline from end-December 2024. Of those loan loss reserves, 36.6% were for performing loans (percentage up +0.8% from the previous quarter).

    The cost of risk was a net charge of -€413 million, up +3.4% compared to the first quarter of 2024, and came mainly from a provision for non-performing loans (level 3) of -€411 million (compared to a provision of -€384 million in the first quarter of 2024). Net provisioning on performing loans (levels 1 and 2) was almost zero this quarter, compared to a provision of -€12 million in the first quarter of 2024. Also noteworthy is a provision of -€2 million for other items (legal provisions) versus -€5 million in the first quarter of 2024. By business line, 60% of the net provision for the quarter came from Specialised Financial Services (55% at end-March 2024), 22% from LCL (30% at end-March 2024), 16% from International Retail Banking (20% at end-March 2024), 5% from the Corporate Centre (3% at end-March 2024) and recovered for Large Customers (same as end-March 2024). The provisioning levels were determined by taking into account several weighted economic scenarios and by applying some flat-rate adjustments on sensitive portfolios. The weighted economic scenarios for the first quarter are the same used for the previous quarter. In the first quarter of 2025, the cost of risk/outstandings was 34 basis points over a rolling four-quarter period15 and 30 basis points on an annualised quarterly basis16 (a decrease of one basis point, versus the first quarter of 2024).

    The contribution from equity-accounted entities amounted to €47 million in the first quarter of 2025, up +9.2% compared to the first quarter of 2024, mainly due to the growth of equity-accounted entities in the Personal finance and mobility business line.

    Pre-tax income, discontinued operations and non-controlling interests therefore increased by +4.6% to €2,900 million.

    The effective tax rate stood at 29.0%, up +6.6 percentage points compared to the first quarter of 2024. The tax charge was -€827 million, up +35.5% in connection with the impact in the first quarter of 2025 of the exceptional corporate tax surcharge of €-123 million, corresponding to an estimation of -€200 million in 2025 (assuming 2025 fiscal result being equal to 2024 fiscal result). Net income before non-controlling interests was down -4.1% to €2,073 million. Non-controlling interests amounted to -€249 million in first quarter 2025, down -3.9%.

    Earnings per share in the first quarter of 2025 reached €0.56, increasing by +11.4% compared to the first quarter of 2024.
    RoTE17, which is calculated on the basis of an annualised Net Income Group Share 18 and IFRIC charges and additional corporate tax charge linearised over the year, net of annualised Additional Tier 1 coupons (return on equity Group share excluding intangibles) and net of foreign exchange impact on reimbursed AT1, and restated for certain volatile items recognised in equity (including unrealised gains and/or losses), reached 15.9% in the first quarter of 2025, decreasing of 0.1 percentage point compared to the first quarter of 2024.

    Analysis of the activity and the results of Crédit Agricole S.A.’s divisions and business lines

    Activity of the Asset Gathering division

    In the first quarter of 2025, the assets under management of the Asset gathering (AG) division stood at €2,878 billion, up +€11 billion over the quarter (i.e. +0.4%), mainly due to positive net inflows in the three insurance, asset management, and wealth management businesses, offset by an unfavourable market and foreign exchange impact effect over the period. Over the year, assets under management rose by +8.7%.

    Insurance activity (Crédit Agricole Assurances) was very strong, with total premium income of €14.8 billion, up +20.7% compared to the first quarter of 2024 and up in all three segments: savings/retirement, property and casualty, and death & disability/creditor/group insurance.

    In Savings/Retirement, first quarter 2025 premium income stood at €10.8 billion, up +27% compared to the first quarter of 2024. Activity was driven by the success of euro payment bonus campaigns in France (full effect of commercial events over the quarter), which boosted gross euro inflows. As a result, unit-linked rate in gross inflows is down -4.7 percentage points over the year at 34.3%19.The quarter’s record net inflows totalled +€4.0 billion (up +€1.5 billion compared to the fourth quarter of 2024), comprised of +€2.0 billion net inflows from unit-linked contracts and +€1.9 billion from euro funds.

    Assets under management (savings, retirement and funeral insurance) continued to grow and came to €352.4 billion (up +€17.5 billion year-on-year, or +5.2%). The growth in outstandings was driven by the very high level of quarterly net inflows and favourable market effects. Unit-linked contracts accounted for 30% of outstandings, up +0.5 percentage point compared to the end of March 2024.

    In property and casualty insurance, premium income stood at €2.6 billion in the first quarter of 2025, up +8%20 compared to the first quarter of 2024. Growth stemmed from a price effect, with the increase in the average premium benefiting from revised rates and changes in the product mix, and a volume effect, with a portfolio of over €16.8 million21 policies at the end of March 2025 (an increase of +5% over the year). Lastly, the combined ratio at the end of March 2025 stood at 93.2%22, an improvement of -0.6 percentage point year-on-year.

    In death & disability/creditor insurance/group insurance, premium income for the first quarter of 2025 stood at €1.4 billion, up +4% compared to the first quarter of 2024. The strong year-on-year activity was driven by an excellent quarter in group insurance (+24% compared to the first quarter of 2024) due to the entry into effect of the collective health contract with the Ministry of Agriculture and Food Sovereignty23. Creditor (+2%) and individual death & disability (+3%) activities were resilient.

    In Asset Management (Amundi), assets under management by Amundi increased by +0.3% and +6.2% respectively over the quarter and the year, reaching a new record of 2,247 billion at the end of March 2025, benefiting from a high level of inflows over 12 months (+€70 billion), and despite a significantly negative foreign exchange impact this quarter (-€26 billion). Over the quarter, net inflows in asset management (Amundi) stood at +€31.1 billion, driven by a record quarterly inflow of medium-long term assets24(+€37 billion). This good performance is illustrated in particular by the continued dynamic in the strategic aeras (ETF +€10 billion, Third Party Distribution +€8 billion, Asia +€8 billion). In the institutional segment, net inflows of €22.4 billion over the quarter continued their strong commercial activity, driven by medium-long term assets, mainly the acquisition of a large ESG equity index mandate with The People’s Pension in the United Kingdom (+€21 billion). In return, Corporates recorded a seasonal outflow in treasury products. Finally, JVs posted a net inflow of €2.9 billion over the period, with good inflows in Korea, stabilisation in China and an outflow in India related to the end of the financial year and the local market correction from the fourth quarter of 2024. Furthermore, the finalisation of the partnership with Victory Capital was announced on 1 April 2025.

    In Wealth management, total assets under management (CA Indosuez Wealth Management and LCL Private Banking) amounted to €278 billion at the end of March 2025, and were up +41.3% compared to March 2024 and stable compared to December 2024.

    For Indosuez Wealth Management, outstandings at the end of March stood at €213 billion25, down -0.7% compared to end-December 2024. Despite activity remaining positive with positive net inflows of €0.8 billion, the market and foreign exchange impact for the quarter was unfavourable by -€2 billion. Compared to the end of March 2024, assets under management were up by +€80 billion (or +60.2%), taking into account a scope effect of €69 billion (integration of Degroof Petercam in June 2024). The announcement on 4 April 2025 of the planned acquisition of Banque Thaler in Switzerland is also noteworthy.

    Results of the Asset Gathering division

    In the first quarter of 2025, the Asset Gathering division generated €2,058 million in revenues, up +15.0% compared to the first quarter of 2024, driven by all the division’s business lines. Expenses increased +24.1% to -€936 million and gross operating income came to €1,123 million, +8.4% compared to first quarter of 2024. The cost/income ratio for the first quarter of 2025 stood at 45.5%, up +3.3 percentage points compared to the same period in 2024. As a result, pre-tax income increased by +8.2% to €1,139 million in the first quarter of 2025. Net income Group share recorded a drop of 5%, taking into account corporate tax additional charge in France.

    In the first quarter of 2025, the Asset Gathering division contributed by 35% to the net income Group share of the Crédit Agricole S.A. core businesses and 28% to revenues (excluding the Corporate Centre division).

    As at 31 March 2025, equity allocated to the division amounted to €13.4 billion, including €10.8 billion for Insurance, €1.8 billion for Asset Management, and €0.8 billion for Wealth Management. The division’s risk-weighted assets amounted to €51.7 billion, including €24.3 billion for Insurance, €19.2 billion for Asset Management and €8.2 billion for Wealth Management.

    Insurance results

    In first quarter 2025, insurance revenues stood at €727 million, a slight increase of +0.7% compared to the first quarter of 2024, supported by Savings/Retirement (related to the increase in outstandings) and property and casualty insurance, offsetting a narrowing of technical margins in Creditor insurance combined with methodological effects. Revenues for the quarter included €505 million from savings/retirement and funeral insurance26, €103 million from personal protection27 and €122 million from property and casualty insurance28.

    The Contractual Service Margin (CSM) totalled €25.8 billion at the end of March 2025, an increase of +2% compared to the end of December 2024.

    Non-attributable expenses for the quarter stood at -€96 million, up +4.7% over the first quarter of 2024. As a result, gross operating income reached €632 million, stable (+0.1%) compared to the same period in 2024. Net pre-tax income was stable, amounting to €631 million. Excluding the effect of replacing Tier 1 debt with Tier 2 debt in September 202429, it was up by +2%. For the same reason, non-controlling interests amounted to -€3 million compared to -€14 million in the first quarter of 2024, due to the inclusion of accounting items on the redemption of Tier 1 instruments29. Net income Group share stood at €439 million, down -11.0% compared to the first quarter of 2024, taking into account the corporate tax additional charge in France.

    Insurance contributed 23% to the net income Group share of Crédit Agricole S.A.’s business lines (excluding the Corporate Centre division) at end-March 2025 and 10% to their revenues (excluding the Corporate Centre division).

    Asset Management results

    In the first quarter of 2025, revenues amounted to €892 million, showing double-digit growth of +11.0% compared to the first quarter of 2024. Net management fee and commission income showed a sustained increase of +7.7% on the first quarter of 2024 in a context of market appreciation. Performance fee and commission income was also up by +30.7% compared to the first quarter of 2024. Amundi Technology’s revenues continued their sustained growth and increased by +46.2% compared to the first quarter of 2024, thanks to the integration of aixigo, a European leader in Wealth Tech, whose acquisition was finalised in November 2024, amplifying organic growth, which remained strong (+21%). Operating expenses amounted to -€496 million, up +10.6% compared to the first quarter of 2024. They include the scope effects related to Alpha Associates and aixigo, as well as the integration costs related to Victory Capital. Apart from these effects, expenses increased by +6.3% over the period. The cost/income ratio at 55.6%, is down -0.2 percentage points despite Victory Capital30 integration costs. Restated from the latter, the cost/income ratio stood at 54.8%. Gross operating income stood at €396 million, an increase of +11.6% compared to the first quarter of 2024. The contribution of equity-accounted entities, including the contribution of Amundi’s Asian joint ventures, amounted to €28 million, down slightly compared to the first quarter of 2024. Consequently, pre-tax income came to €419 million, a +9.3% increase compared to the first quarter of 2024. Net income Group share stood at €183 million, down -7.3% compared to the first quarter of 2024, taking into account the impact of the corporate tax additional charge in France. 

    Wealth Management results31

    In the first quarter of 2025, revenues from wealth management amounted to €439 million, up +66.4% compared to the first quarter of 2024, benefiting from the impact of the integration of Degroof Petercam in June 202432. Apart from this effect, revenues were supported by the strong activity of transactional fee and commission income, and the net interest margin held up well over the period. Expenses for the quarter amounted to -€344 million, up +60.7% compared to the first quarter of 2024, impacted by a Degroof Petercam scope effect32 and -€13 million in integration costs. Restated for these impacts, growth in expenses was stable compared to the first quarter of 2024. The cost/income ratio for the first quarter of 2025 stood at 78.4%, down -2.8 percentage points compared to the same period in 2024. Restated for integration costs, it amounted to 75.5%. Gross operating income reached €95 million, up sharply (+91.3%) compared to the first quarter of 2024. Cost of risk remained moderate at -€6 million. Net income Group share reached €58 million, up sharply (x 2.3) compared to the first quarter of 2024.

    Wealth Management contributed 3% to the net income Group share of Crédit Agricole S.A.’s business lines (excluding the Corporate Centre division) at end-March 2025 and 6% of their revenues (excluding the Corporate Centre division).

    At 31 March 2025, equity allocated to Wealth management was €0.8 billion and risk-weighted assets totalled €8.2 billion.  

    Activity of the Large Customers division

    The large customers division posted good activity in the first quarter of 2025, thanks to very good performance from Corporate and Investment banking (CIB) and strong activity in asset servicing.

    Corporate and Investment Banking’s first quarter 2025 revenues rose sharply to €1,887 million, an increase of +7.3% compared to the first quarter of 2024, driven by growth in its two business lines. Capital Markets and Investment Banking grew its revenues to €1,017 million, an increase of +10.0% compared with the first quarter of 2024. This was fuelled by new growth in revenues across all Capital Market activities (+5.9% compared to the first quarter of 2024) in a context of high volatility, and by the good level of activity in Investment Banking (+31.6% compared to the first quarter of 2024) thanks to the good dynamics of Structured Equities activities. Financing activity revenues were also up at €870 million, an increase of +4.4% relative to the first quarter of 2024. This was mainly due to the performance of Commercial Banking (+1.7% compared to the first quarter of 2024), driven by the performance of assets financing and project financing, particularly in Green Energy and Aerospace, and by Trade and Export Finance activities. The structured finance activity also recorded an increase in revenues of +9.4% compared to the first quarter of 2024.

    Financing activities consolidated its leading position in syndicated loans (#1 in France33 and #2 in EMEA33). Crédit Agricole CIB reaffirmed its strong position in bond issues (#2 All bonds in EUR Worldwide33) and was ranked #1 in Green, Social & Sustainable bonds in EUR34. Average regulatory VaR stood at €10.5 million in the first quarter of 2025, up slightly from €9.5 million in the fourth quarter of 2024, reflecting changes in positions and financial markets. It remained at a level that reflected prudent risk management.

    For Asset servicing, business growth was supported by strong commercial activity and favourable market effects, which offset the planned exit of ISB customers.

    Assets under custody (AuC) rose by +3.3% at end-March 2025 compared to end-December 2024, up +9.0% from end-March 2024, to reach €5,467 billion. Assets under administration also increased by +5.3% this quarter and were up +4.7% year-on-year, totalling €3,575 billion at end-March 2025.

    Results of the Large Customers division

    In the first quarter of 2025, revenues of the Large Customers division once again reached a record level, with €2,408 million, up +6.3% compared with the first quarter of 2024, buoyed by an excellent performance in the Corporate and Investment Banking and Asset Servicing business lines.

    Operating expenses increased by +4.9% due to IT investments and business line development. As a result, the division’s gross operating income was up +8.2% from the first quarter of 2024 to €1,048 million. The business line recorded a net reversal in the cost of risk of +€25 million, compared to a reversal of +33 million in the first quarter of 2024. Pre-tax income amounted to €1,078 million, up +7.2% compared to the first quarter of 2024. The tax charge stood at -€305 million in the first quarter of 2025, taking into account the additional corporate income tax charge. Finally, net income Group share totalled €723 million in the first quarter of 2025, stable (+0.2%) compared to the first quarter of 2024.

    The business line contributed 38% to the net income Group share of Crédit Agricole S.A.’s core businesses (excluding the Corporate Centre division) at end-March 2025 and 33% to revenues excluding the Corporate Centre.

    At 31 March 2025, the equity allocated to the division was €13.5 billion and its risk-weighted assets were €141.7 billion.

    Corporate and Investment Banking results

    In the first quarter of 2025, Corporate and Investment Banking revenues reached a record of €1,887 million, up +7.3% compared to the first quarter of 2024. This was the best quarter recorded for Corporate and Investment Banking.

    Operating expenses rose by +7.5% to -€992 million, mainly due to IT investments and the development of business line activities. Gross operating income rose sharply by +7.1% compared to the first quarter 2024, taking it to a high level of +€895 million. The cost/income ratio was stable at 52.6% (+0.1 percentage point over the period). The cost of risk recorded a net reversal of +€24 million, notably related to new synthetic securitisation transactions. Lastly, pre-tax income in the first quarter of 2025 stood at €919 million, up +5.3% compared to the first quarter of 2024. Finally, net income Group share recorded a decrease of -0.5%, impacted by the additional corporate tax charge, to reach €648 million in the first quarter of 2025.

    Asset servicing results

    In the first quarter of 2025, the revenues of Asset Servicing were up +2.7% compared to the first quarter of 2024, standing at €522 million. This increase was driven by the favourable evolution of the net interest margin and fee and commission income on flow activities and transactions. Operating expenses were down by -1.6% to
    -€368 million, due to the decrease in ISB integration costs compared to the first quarter of 202435. Apart from this effect, expenses were up slightly pending the acceleration of synergies. As a result, gross operating income was up by +14.7 and stood at €153 million in the first quarter of 2025. The cost/income ratio for the first quarter of 2025 stood at 70.6%, down -3.1 percentage points compared to the same period in 2024. Consequently, pre-tax income was up by +19.1% and stood at €160 million in the first quarter of 2025. Net income Group share recorded an increase of +6% taking into account the additional corporate tax charge.

    Specialised financial services activity

    The commercial production of Crédit Agricole Personal Finance & Mobility (CAPFM) totalled €11.0 billion in the first quarter of 2025. It was down by -6.4% compared to the first quarter of 2024, related to the economic context negatively impacting the automotive market in Europe and China. The share of automotive financing36 in quarterly new business production stood at 48.5%. The average customer rate for production was up slightly by +3 basis points from the fourth quarter of 2024. As a result, CAPFM’s assets under management stood at €120.7 billion at end-March 2025, up +5.6% compared to end-March 2024, driven by all scopes: Automotive +8.6%37, LCL and Regional Bank +4.4%, Other Entities +3.0%. Automotive benefited from the consolidation of GAC Leasing this quarter as well as the development of car rental activities. Lastly, consolidated outstandings totalled €68.7 billion at end-March 2025, up 0.8% compared to the first quarter of 2024.

    Crédit Agricole Leasing & Factoring (CAL&F) commercial production increased by +3.0% in leasing, compared to the first quarter of 2024. This was driven by property leasing and renewable energy financing in France. Leasing outstandings rose +5.7% year-on-year, both in France (+4.5%) and internationally (+10.6%), to reach €20.5 billion at end-March 2025 (of which €16.1 billion in France and €4.4 billion internationally). Commercial production in factoring was down by -5.1% compared to the first quarter of 2024; International sales were down -31.6% due to a base effect linked to Germany, which recorded significant deals in the first quarter of 2024; France was up +16%, benefiting from significant contracts this quarter. Factoring outstandings at end-March 2025 were up +14.4% compared to end-March 2024, and factored revenues were up by +5.4% compared to the same period in 2024.

    Specialised financial services’ results

    The revenues of the Specialised Financial Services division were €868 million in the first quarter of 2025, up +2.6% compared to the first quarter of 2024. Expenses stood at -€474 million, up +4.4% compared to the first quarter of 2024. The cost/income ratio stood at 54.5%, up +0.9 percentage points compared to the same period in 2024. Gross operating income thus came to €395 million, up +0.6% compared to the first quarter of 2024. Cost of risk amounted to -€249 million, up +13.8% compared to the third quarter of 2024. The results of equity-accounted entities amounted to €36 million, up +18.5% compared to the first quarter of 2024; restated for non-recurring items from the first quarter of 2025 for €12 million, it was down -21.0%. Pre-tax income for the division amounted to €182 million, down -10.6% compared to the same period in 2024. Net income Group share includes the corporate tax additional charge in France and amounted to €148 million, up +4.1% compared to the same period in 2024.

    The business line contributed 8% to the net income Group share of Crédit Agricole S.A.’s core businesses (excluding the Corporate Centre division) at end-March 2025 and 12% to revenues excluding the Corporate Centre.

    At 31 March 2025, the equity allocated to the division was €7.5 billion and its risk-weighted assets were €79.0 billion.

    Personal Finance and Mobility results

    CAPFM revenues reached €683 million in the first quarter of 2025, up +2.0% compared to the first quarter of 2024, with a positive price effect thanks in particular to the production margin rate, which improved by +32 basis points in the first quarter of 2025 compared to the first quarter of 2024 (up +9 basis points compared to the fourth quarter of 2024). Expenses amounted to -€370 million, an increase of +4.3% due to employee expenses and IT expenses and compared to the first quarter of 2024, which was low. Gross operating income therefore stood at €313 million, stable compared to the first quarter of 2024 (-0.5%). The cost/income ratio stood at 54.2%, up +1.2 percentage points compared to the same period in 2024. The cost of risk stood at -€225 million, up +13.0% from the first quarter of 2024. The cost of risk/outstandings thus stood at 130 basis points38, a deterioration of +13 basis points compared to the first quarter of 2024, especially in international subsidiaries. The Non-Performing Loans ratio was 4.5% at the end of March 2025, down -0.2 percentage point compared to the end of December 2024, while the coverage ratio reached 73.5%, up +0.3 percentage points compared to the end of December 2024. The contribution from equity-accounted entities rose by +18.1% compared to the same period in 2024. Restated for non-recurring items from the first quarter of 2025 for €12 million, the results for equity-accounted entities dropped by -19.3% in connection with the Chinese market. Pre-tax income amounted to €126 million, down -14.3% compared to the same period in 2024. The net income Group share includes the corporate tax additional charge in France and reached €106 million, up +7.5% compared to the previous year.

    Leasing & Factoring results

    CAL&F’s revenues totalled €185 million, up +4.8% compared to the first quarter 2024. This increase was driven by equipment leasing and factoring. Expenses stood at -€104 million, up +4.6% in connection with the growth of the system, and the cost/income ratio stood at 56.0%, an improvement of -0.1 percentage point compared to the first quarter of 2024. Gross operating income stood at €82 million, up +5.0% compared to the first quarter of 2024. Cost of risk totalled -€24 million, up +21.5% compared to the same period in 2024. This rise was due to the small business and SME markets. Cost of risk/outstandings stood at 25 basis points38, up +3 basis points compared to first quarter 2024. Pre-tax income amounted to €56 million, stable (-0.7%) compared to the same period in 2024. Net income Group share includes the corporate tax additional charge in France and amounted to €42 million, down -3.7% compared to the previous year.

    Crédit Agricole S.A. Retail Banking activity

    In retail banking at Crédit Agricole S.A. this quarter, loan production in France continued its upturn compared to the first half of 2024 and the dynamic momentum continues in Italy. The number of customers with insurance is progressing.

    Retail banking activity in France

    In the first quarter of 2025, activity remained steady, albeit with a slowdown in property loans compared to the previous quarter and a stability in inflows and non-remunerated demand deposits over the quarter. Customer acquisition remained dynamic, with 67,000 new customers this quarter.

    The equipment rate for car, multi-risk home, health, legal, all mobile phones or personal accident insurance rose by +0.2 percentage points to stand at 28.0% at end-March 2025.

    Loan production totalled €6.7 billion, representing a year-on-year increase of +32%. The first quarter of 2025 recorded a slowdown in the production of property loans(+46% compared to the first quarter of 2024 and -34% compared to the fourth quarter of 2024), partially due to the seasonal effect. The average production rate for home loans came to 3.18%, down -6 basis points from the fourth quarter of 2024 and -102 basis points year on year. The home loan stock rate improved by +5 basis points over the quarter and by +19 basis points year on year. The strong momentum continued in the corporate market (+49% year on year) and the small business market (+6.4% year on year) but slowed for the consumer credit segment (-10.3%), in a challenging economic environment.

    Outstanding loans stood at €171 billion at end-March 2025, stable over the quarter and increasing by +1.6% year-on-year (of which +1.7% for home loans, +1.1% for loans to professionals, +2.0% for loans to corporates). Customer assets totalled €256.5 billion at end-March 2025, up +2.2% year on year, driven by interest-earning deposits and off-balance sheet funds. Over the quarter, customer assets were also up by +0.6%, including term deposits by +0.9%, in an environment that remains uncertain. Off-balance sheet deposits benefited from a positive year-on-year (unfavourable in the quarter) market effect across all segments and positive net inflows in life insurance.

    Retail banking activity in Italy

    In the first quarter of 2025, CA Italia posted gross customer capture of 53,000.

    Loan outstandings at CA Italia stood at €61.1 billion at end-March 202539, up +1.6% compared with end-March 2024, in a stable Italian market40, driven by the retail segment, which posted an increase in outstandings of +3.0%, and with a stable corporate segment. The loan stock rate was down -34 basis points compared to the fourth quarter of 2024, in line with the evolution in market rates. Loan production, buoyed by the solid momentum in all markets, rose +19.2% compared with the first quarter of 2024.

    Customer assets at end-March 2025 totalled €118.2 billion, up +1.7% compared with end-March 2024; on-balance sheet deposits were down -2.1% compared to end-March 2024, while the cost of on-balance sheet deposits decreased. Finally, off-balance sheet deposits increased by +6.5% over the same period and benefited from net flows and a positive market effect.

    CA Italia’s equipment rate in car, multi-risk home, health, legal, all mobile phones or personal accident insurance exceeded 20.0%, at 20.3%, up +1.0 percentage point compared with the first quarter of 2024.

    International Retail Banking activity excluding Italy

    For International Retail Banking excluding Italy, loan outstandings were €7.4 billion, up +5.8% at current exchange rates at end-March 2025 compared with end-March 2024 (+4.7% at constant exchange rates). Customer assets rose by +€12 billion and were up +11.1% over the same period at current exchange rates (+11.5% at constant exchange rates).

    In Poland in particular, loan outstandings increased by +3.6% compared to end-March 2024 (+0.7% at constant exchange rates) driven by the retail segment and on-balance sheet deposits of +17.0% (+13.8% at constant exchange rates). Loan production in Poland was stable this quarter compared to the first quarter of 2024 (+3.4% at current exchange rates and +0.3% at constant exchange rates). In addition, gross customer capture in Poland reached 64,000 new customers this quarter.

    In Egypt, commercial activity was strong in all markets. Loan outstandings rose +19.7% between end-March 2025 and end-March 2024 (+27.8% at constant exchange rates). Over the same period, on-balance sheet deposits increased by +5.4%% and were up +12.5% at constant exchange rates.

    Liquidity is still very strong with a net surplus of deposits over loans in Poland and Egypt amounting to +€2.3 billion at 31 March 2025, and reached €3.9 billion including Ukraine.

    French retail banking results

    In the first quarter of 2025, LCL revenues amounted to €963 million, up (+1.0%) compared to the first quarter of 2024. The increase in fee and commission income (+3.6% Q1/Q1) was driven by all activities (excluding securities management), but mainly by strong momentum in insurance (life and non-life). NIM is down by -1.7% Q1/Q1 and benefited from the increase in credit yields (stock repricing +19 bp Q1/Q1 and +5 bp Q1/Q4) and the reduction in the cost of resources, making it possible to mitigate the lower contribution of macro-hedging.

    Expenses are up by +3.8% and stood at -€625 million linked to the acceleration of investments (IT and employee expenses). The cost/income ratio stood at 64.9%, an increase by 1.8 percentage point compared to first quarter 2024. Gross operating income fell by -3.9% to €338 million.

    The cost of risk was down -22.9% compared to the first quarter of 2024 and stood at -€92 million (including a provision of -€95 million on proven risk and a recovery of €3 for contingent liabilities). The cost of risk/outstandings therefore stood at 20 basis points, with its level still high on the professional market. The coverage ratio stood at 63.0% at end-March 2025 (+0.4 percentage points compared to end-December 2024). The Non-Performing Loans ratio reached 2.0% at the end of March 2025, stable compared to the end of December 2024.

    In the end, pre-tax income stood at €247 million, up +5.3% compared to the first quarter of 2024, and net income Group share was down -25.6% compared to the first quarter 2024, impacted by the corporate income tax.

    In the end, the business line contributed 7% to the net income Group share of Crédit Agricole S.A.’s core businesses (excluding the Corporate Centre division) in the first quarter of 2025 and 13% to revenues excluding the Corporate Centre division.

    At 31 March 2025, the equity allocated to the business line stood at €5.1 billion and risk-weighted assets amounted to €53.9 billion.

    International Retail Banking results41

    In the first quarter of 2025, revenues for International Retail Banking totalled €1,025 million, down compared with the fourth quarter of 2024 (-3.0% at current exchange rates, -0.7% at constant exchange rates). Operating expenses were under control at -€515 million, an increase of +1.8% (+2.6% at constant exchange rates). Gross operating income consequently totalled €511 million, down -7.5% (-3.9% at constant exchange rates) for the period. Cost of risk amounted to -€66 million, down -18.9% compared to first quarter 2024 (-19.0% at constant exchange rates).

    All in all, net income Group share for CA Italia, CA Egypt, CA Poland and CA Ukraine amounted to €246 million in the first quarter of 2025, down -4.3% (and stable at -0.4% at constant exchange rates).

    At 31 March 2025, the capital allocated to International Retail Banking was €4.1 billion and risk-weighted assets totalled €43.4 billion.

    Results in Italy

    In the first quarter of 2025, Crédit Agricole Italia revenues stood at €777 million, stable (+0.3%) compared to the first quarter of 2024. The decrease in net interest margin (-5.8% compared to the first quarter of 2024) is offset by the increase in fee and commission income (+7.4% compared to the first quarter of 2024), which was driven by fee and commission income on assets under management (+11.6% compared to the first quarter of 2024). Operating expenses were -€384 million, contained and stable at +0.5% over the first quarter of 2024.

    Cost of risk amounted to -€56 million in first quarter 2025, down -7.9% compared to first quarter 2024, and corresponded almost entirely to provisions for proven risk. Cost of risk/outstandings42 stood at 39 basis points, up 1 basis point compared to the fourth quarter of 2024. The NPL ratio stood at 2.8%, improved compared to the fourth quarter of 2024, while the coverage ratio stood at 77.9% (+2.8 percentage points compared to the fourth quarter of 2024). Net income Group share for CA Italia was therefore €178 million, stable (-0.8%) compared to the first quarter of 2024.

    International Retail Banking results – excluding Italy

    In the first quarter of 2025, revenues for International Retail Banking excluding Italy totalled €248 million, down -12.2% (+3.9% at constant exchange rates) compared to the first quarter of 2024. Revenues in Poland were up +8.6% compared to the first quarter of 2024 (+5.3% at constant exchange rates), with a higher net interest margin. Revenues in Egypt were down -35.7% (-13.2% at constant exchange rates) with a base effect related to the exceptional foreign exchange activity of the first quarter of 2024, but benefited from an increased net interest margin. Operating expenses for International Retail Banking excluding Italy amounted to €131 million, up +5.8% compared to the first quarter of 2024 (+9.4% at constant exchange rates) due to the effect of employee expenses and taxes in Poland as well as employee expenses and inflation in Egypt. Gross operating income amounted to €117 million, down -26.3% (+15.3% at constant exchange rates) compared to the first quarter of 2024. The cost of risk remained contained at -€10 million, versus -€21 million in the first quarter of 2024. Furthermore, at end-March 2025, the coverage ratio for loan outstandings remained high in Poland and Egypt, at 122% and 144% respectively. In Ukraine, the local coverage ratio remains prudent (450%). All in all, the contribution of International Retail Banking excluding Italy to net income Group share was €67 million, down -12.4% compared with the first quarter of 2024 at current exchange rates and stable at constant exchange rates (+0.8%).  

    At 31 March 2025, the entire Retail Banking business line contributed 19% to the net income Group share of Crédit Agricole S.A.’s core businesses (excluding the Corporate Centre division) and 27% to revenues excluding the Corporate Centre.

    At 31 March 2025, the division’s equity amounted to €9.2 billion. Its risk-weighted assets totalled €97.2 billion.

    Corporate Centre results

    The net income Group share of the Corporate Centre was -€102 million in first quarter 2025, up +€5 million compared with first quarter 2024. The positive contribution of the Corporate Centre division can be analysed by distinguishing between the “structural” contribution (-€55 million) and other items (-€48 million).
    The contribution of the “structural” component (-€55 million) was up by +€52 million compared with the first quarter of 2024 and can be broken down into three types of activity:

    • The activities and functions of the Corporate Centre of the Crédit Agricole S.A. Parent Company. This contribution was -€315 million in the first quarter of 2025, down -€20 million, mainly explained by the accounting of the IFRIC tax in a single payment this quarter, whereas it had been spread over two quarters last year
    • The business lines that are not part of the core businesses, such as CACIF (private equity), CA Immobilier, CATE and BforBank (equity-accounted). Their contribution, at +€252 million in the first quarter of 2025, was up +€67 million compared to the first quarter of 2024, including a positive impact of the revaluation of Banco BPM shares.
    • Group support functions. Their contribution amounted to +€9 million this quarter (+€4 million compared with first quarter 2024).

    The contribution from “other items” amounted to -€48 million, down -€47 million compared to the first quarter of 2024, mainly explained by a negative variance related to ESTER/BOR volatility.

    At 31 March 2025, risk-weighted assets stood at €35.1 billion.

    Financial strength

    Crédit Agricole Group has the best level of solvency among European Global Systemically Important Banks.

    Capital ratios for Crédit Agricole Group are well above regulatory requirements. At 31 March 2025, the phased Common Equity Tier 1 ratio (CET1) for Crédit Agricole Group stood at 17.6%, or a substantial buffer of 780 basis points above regulatory requirements. The change in the CET1 ratio over the quarter is explained by the impacts of (a) +56 basis points linked to CRR3 impact (b) +25 basis points linked to retained earnings, (c) -17 bp related to the organic growth of the business lines and (d) -17 basis points for methodological effects, M&A and other effects, taking into account in the -9 basis points of the latest IFRS 9 phasing and -8 basis points related to the purchase of shares in Crédit Agricole S.A.

    Crédit Agricole S.A., in its capacity as the corporate center of the Crédit Agricole Group, fully benefits from the internal legal solidarity mechanism as well as the flexibility of capital circulation within the Crédit Agricole Group. The phased-in CET1 capital ratio stood at 12.1% at 31 March 2025, or a buffer of 350 basis points above regulatory requirements. The change in the CET1 ratio over the quarter is explained by the impacts of (a) +44 basis points linked to CRR3 impact (b) +21 basis points linked to retained earnings, (c) -9 bp related to the organic growth of the business lines and (d) -10 basis points for methodological effects, M&A and other effects, taking into account in the -5 basis points of the latest IFRS 9 phasing. Including M&A transactions completed after March 31, 2025 and the estimated impact from the crossing of the exemption threshold in Q2 2025, the proforma CET1 ratio would be 11.8%.

    The breakdown in risk weighted assets for Crédit Agricole S.A. by business line resulted from the combined effects of (a) -€12.9 billion related to the impact of CRR3 and, excluding this effect, (b) -€0.2 billion in the Retail Banking divisions, (c) +€1.4 billion in Asset Gathering, in particular in connection with the increase in the Equity Accounted Value of insurance (d) +€1.9 billion in specialized financial services, (e) -€0.8 billion in Large Customers and (f) +€0.1 billion in Corporate Center.

    For the Crédit Agricole Group, the impact of CRR3 was -€18.2 billion and the increase in risk weighted assets at the Retail Banking divisions was +€1.3 billion excluding the CRR3 effect. The evolution of the other businesses follows the same trend as for Crédit Agricole S.A.

    Crédit Agricole Group’s financial structure

        Crédit Agricole Group   Crédit Agricole S.A.
        31/03/25 31/12/24 Requirements
    31/03/25    		   31/03/25 31/12/24 Requirements
    31/03/25
    Phased-in CET1 ratio43   17.6% 17.2% 9.8%   12.1% 11.7% 8.6%
    Tier1 ratio43   19.0% 18.3% 11.7%   14.3% 13.4% 10.4%
    Total capital ratio43   21.8% 20.9% 14.1%   18,4% 17.4% 12.8%
    Risk-weighted assets (€bn)   641 653     405 415  
    Leverage ratio   5.6% 5.5% 3.5%   4.0% 3.9% 3.0%
    Leverage exposure (€bn)   2,173 2,186     1,434 1,446  
    TLAC ratio (% RWA) 43,44   28.5% 26.9% 22,32%        
    TLAC ratio (% LRE)44   8.4% 8.0% 6.75%        
    Subordinated MREL ratio (% RWA) 43   28.5% 26.9% 22.57%        
    Subordinated MREL ratio (% LRE)   8.4% 8.0% 6.25%        
    Total MREL ratio (% RWA) 43   34.0% 32.4% 26.33%        
    Total MREL ratio (% LRE)   10.0% 9.7% 6.25%        
    Distance to the distribution restriction trigger (€bn)45   46 43     14 12  

    For Crédit Agricole S.A., the distance to the trigger for distribution restrictions is the distance to the MDA trigger45, i.e. 354 basis points, or €14 billion of CET1 capital at 31 March 2025. Crédit Agricole S.A. is not subject to either the L-MDA (distance to leverage ratio buffer requirement) or the M-MDA (distance to MREL requirements).

    For Crédit Agricole Group, the distance to the trigger for distribution restrictions is the distance to the L-MDA trigger at 31 March 2025. Crédit Agricole Group posted a buffer of 210 basis points above the L-MDA trigger, i.e. €46 billion in Tier 1 capital.

    At 31 March 2025, Crédit Agricole Group’s TLAC and MREL ratios are well above requirements44. Crédit Agricole Group posted a buffer of 590 basis points above the M-MDA trigger, i.e. €38 billion in CET1 capital. At this date, the distance to the M-MDA trigger corresponded to the distance between the subordinated MREL ratio and the corresponding requirement. The Crédit Agricole Group’s 2025 target is to maintain a TLAC ratio greater than or equal to 26% of RWA excluding eligible senior preferred debt.

    Liquidity and Funding

    Liquidity is measured at Crédit Agricole Group level.

    As of 31 December 2024, changes have been made to the presentation of the Group’s liquidity position (liquidity reserves and balance sheet, breakdown of long term debt). These changes are described in the 2024 Universal Registration Document.

    Diversified and granular customer deposits remain stable compared to December 2024 (€1,148 billion at end-March 2025).

    The Group’s liquidity reserves, at market value and after haircuts46, amounted to €487 billion at 31 March 2025, up +€14 billion compared to 31 December 2024.

    Liquidity reserves covered more than twice the short term debt net of treasury assets.

    This increase in liquidity reserves is notably explained by:

    • The increase in the securities portfolio (HQLA and non-HQLA) for +€6 billion;
    • The increase in collateral already pledged to Central Banks and unencumbered for +€5 billion, including a €2 billion increase in self-securitisations;
    • The increase in central bank deposits for €3 billion.

    Crédit Agricole Group also continued its efforts to maintain immediately available reserves (after recourse to ECB financing). Central bank eligible non-HQLA assets after haircuts amounted to €144 billion.

    Standing at €1,691 billion at 31 March 2025, the Group’s liquidity balance sheet shows a surplus of stable funding resources over stable application of funds of €197 billion, up +€20 billion compared with end-December 2024. This surplus remains well above the Medium-Term Plan target of €110bn-€130bn.

    Long term debt was €315 billion at 31 March 2025, up compared with end-December 2024. This included:

    • Senior secured debt of €89 billion, up +€5 billion;
    • Senior preferred debt of €162 billion, up +€3 billion due to the increase in entities’ issuances;
    • Senior non-preferred debt of €40 billion, up +€3 billion due to the MREL/TLAC eligible debt;
    • And Tier 2 securities of €24 billion, down -€1 billion.

    Credit institutions are subject to a threshold for the LCR ratio, set at 100% on 1 January 2018.

    At 31 March 2025, the average LCR ratios (calculated on a rolling 12-month basis) were 139% for Crédit Agricole Group (representing a surplus of €92 billion) and 144% for Crédit Agricole S.A. (representing a surplus of €89 billion). They were higher than the Medium-Term Plan target (around 110%).

    In addition, the NSFR of Crédit Agricole Group and Crédit Agricole S.A. exceeded 100%, in accordance with the regulatory requirement applicable since 28 June 2021 and above the Medium-Term Plan target (>100%).

    The Group continues to follow a prudent policy as regards medium-to-long-term refinancing, with a very diversified access to markets in terms of investor base and products.

    At 31 March 2025, the Group’s main issuers raised the equivalent of €15.6 billion47in medium-to-long-term debt on the market, 82% of which was issued by Crédit Agricole S.A.

    In particular, the following amounts are noted for the Group excluding Crédit Agricole S.A.:  

    • Crédit Agricole Assurances issued €750 million in RT1 Perpetual NC10.75 year;
    • Crédit Agricole Personal Finance & Mobility issued:
      • €500 million in EMTN issuances through Crédit Agricole Auto Bank (CAAB);
      • €420 million in securitisations through Agos;
    • Crédit Agricole Italia issued one senior secured debt issuance for a total of €1 billion;
    • Crédit Agricole next bank (Switzerland) issued two tranches in senior secured format for a total of 200 million Swiss francs, of which 100 million Swiss francs in Green Bond format.

    At 31 March 2025, Crédit Agricole S.A. raised the equivalent of €11.2 billion through the market48,49.

    The bank raised the equivalent of €11.2 billion, of which €4.7 billion in senior non-preferred debt and €1.4 billion in Tier 2 debt, as well as €1.3 billion in senior preferred debt and €3.8 billion in senior secured debt at end-March. The financing comprised a variety of formats and currencies, including:

    • €1.75 billion50,51;
    • 3.5 billion US dollars (€3.4 billion equivalent);
    • 0.8 billion pounds sterling (€1 billion equivalent);
    • 94.3 billion Japanese yen (€0.6 billion equivalent);
    • 0.4 billion Singapore dollars (€0.3 billion equivalent);
    • 0.6 billion Australian dollars (€0.4 billion equivalent).

    At end-March, Crédit Agricole S.A. had issued 76%52,53 of its funding plan in currencies other than the euro.

    In addition, on 13 February 2025, Crédit Agricole S.A. issued a PerpNC10 AT1 bond for €1.5 billion at an initial rate of 5.875% and announced on 30 April 2025 the regulatory call exercise for the AT1 £ with £103m outstanding (XS1055037920) – ineligible, grandfathered until 28/06/2025 – to be redeemed on 30/06/2025.

    The 2025 MLT market funding programme was set at €20 billion, with a balanced distribution between senior preferred or senior secured debt and senior non-preferred or Tier 2 debt.

    The programme was 56% completed at 31 March 2025, with:

    • €3.8 billion in senior secured debt;
    • €1.3 billion equivalent in senior preferred debt;
    • €4.7 billion equivalent in senior non-preferred debt;
    • €1.4 billion equivalent in Tier 2 debt.

    Appendix 1 – Credit Agricole Group : income statement by business line

    Credit Agricole Group – Results by business line, Q1-25 and Q1-24

      Q1-25
    €m RB LCL IRB AG SFS LC CC Total
                     
    Revenues 3,352 963 1,048 2,049 868 2,408 (640) 10,048
    Operating expenses (2,530) (625) (535) (936) (474) (1,360) 468 (5,992)
    Gross operating income 822 338 513 1,113 395 1,047 (172) 4,056
    Cost of risk (319) (92) (67) (11) (249) 25 (22) (735)
    Equity-accounted entities 6 – – 28 36 6 – 75
    Net income on other assets 3 1 (0) (0) 0 0 0 4
    Income before tax 511 247 445 1,130 182 1,078 (194) 3,399
    Tax (170) (112) (137) (351) (12) (305) 46 (1,041)
    Net income from discont’d or held-for-sale ope. – – 0 – – – (0) (0)
    Net income 341 135 308 779 170 773 (148) 2,358
    Non controlling interests 0 (0) (42) (101) (21) (36) 7 (193)
    Net income Group Share 341 135 266 679 148 738 (141) 2,165
      Q1-24
    €m RB LCL IRB AG SFS LC CC Total
                     
    Revenues 3,314 954 1,081 1,793 846 2,266 (728) 9,525
    Operating expenses (2,484) (602) (524) (754) (454) (1,297) 527 (5,589)
    Gross operating income 830 351 556 1,039 392 969 (201) 3,936
    Cost of risk (247) (119) (84) (3) (219) 33 (13) (651)
    Equity-accounted entities 5 – – 29 30 4 – 68
    Net income on other assets 2 2 (0) (8) (0) 0 (2) (7)
    Income before tax 589 234 472 1,056 203 1,006 (216) 3,347
    Tax (147) (53) (143) (220) (42) (235) 85 (755)
    Net income from discont’d or held-for-sale ope. – – – – – – – –
    Net income 442 181 330 837 161 772 (131) 2,592
    Non controlling interests (0) (0) (51) (112) (19) (34) 7 (208)
    Net income Group Share 442 181 279 725 142 738 (123) 2,384

    Appendix 2 – Credit Agricole S.A. : Income statement by business line

    Crédit Agricole S.A. – Résults by business line, Q1-25 and Q1-24

      Q1-25
    En m€ AG LC SFS FRB (LCL) IRB CC Total
                   
    Revenues 2,058 2,408 868 963 1,025 (67) 7,256
    Operating expenses (936) (1,360) (474) (625) (515) (81) (3,991)
    Gross operating income 1,123 1,048 395 338 511 (148) 3,266
    Cost of risk (11) 25 (249) (92) (66) (21) (413)
    Equity-accounted entities 28 6 36 – – (22) 47
    Net income on other assets (0) 0 0 1 (0) 0 1
    Income before tax 1,139 1,078 182 247 444 (191) 2,900
    Tax (352) (305) (12) (112) (137) 92 (827)
    Net income from discontinued or held-for-sale operations – – – – 0 – 0
    Net income 787 774 170 135 308 (99) 2,073
    Non controlling interests (107) (50) (21) (6) (62) (3) (249)
    Net income Group Share 680 723 148 129 246 (102) 1,824
      Q1-24  
    En m€ AG LC SFS FRB (LCL) IRB CC Total  
                   
    Revenues 1,789 2,266 846 954 1,057 (107) 6,806
    Operating expenses (754) (1,297) (454) (602) (505) (56) (3,669)
    Gross operating income 1,035 969 392 351 552 (163) 3,137
    Cost of risk (3) 33 (219) (119) (82) (11) (400)
    Equity-accounted entities 29 4 30 – – (20) 43
    Net income on other assets (8) 0 (0) 2 (0) – (6)
    Income before tax 1,053 1,006 203 234 470 (194) 2,773
    Tax (220) (235) (42) (53) (142) 82 (610)
    Net income from discontinued or held-for-sale operations – – – – – – –
    Net income 834 772 161 181 328 (112) 2,163
    Non controlling interests (117) (50) (19) (8) (71) 5 (259)
    Net income Group Share 716 722 142 173 257 (107) 1,903

    Appendix 3 – Data per share

    Credit Agricole S.A. – Earnings p/share, net book value p/share and RoTE

    (€m)

    Q1-2025
    Q1-2024

    Net income Group share

    1,824
    1,903

    – Interests on AT1, including issuance costs, before tax

    (129)
    (138)

    – Foreign exchange impact on reimbursed AT1

    –
    (247)

    NIGS attributable to ordinary shares

    [A]
    1,695
    1,518

    Average number shares in issue, excluding treasury shares (m)

    [B]
    3,025
    3,018

    Net earnings per share

    [A]/[B]
    0.56 €
    0.50 €

    (€m)

    31/03/2025
    31/03/2024

    Shareholder’s equity Group share

    77,378
    72,429

    – AT1 issuances

    (8,726)
    (7,184)

    – Unrealised gains and losses on OCI – Group share

    1,222
    1,021

    – Payout assumption on annual results*

    (3,327)
    (3,181)

    Net book value (NBV), not revaluated, attributable to ordin. sh.

    [D]
    66,546
    63,086

    – Goodwill & intangibles** – Group share

    (17,764)
    (17,280)

    Tangible NBV (TNBV), not revaluated attrib. to ordinary sh.

    [E]
    48,783
    45,807

    Total shares in issue, excluding treasury shares (period end, m)

    [F]
    3,025
    3,026

    NBV per share , after deduction of dividend to pay (€)
    + Dividend to pay (€)

    TNBV per share, after deduction of dividend to pay (€)
    TNBV per sh., before deduct. of divid. to pay (€)

    [D]/[F]
    22.0 €
    20.9 €

    [H]
    1.10 €
    1.05 €

    [G]=[E]/[F]
    16.1 €
    15.1 €

    [G]+[H]
    17.2 €
    16.2 €

    * dividend proposed to the Board meeting to be paid
    ** including goodwill in the equity-accounted entities

    (€m)

    Q1-25
    Q1-24

    Net income Group share

    [K]
    1,824
    1,903

    Impairment of intangible assets

    [L]
    0
    0

    Additional corporate tax

    [LL]
    -123
    – 

    IFRIC

    [M]
    -173
    -110

    NIGS annualised (1)

    [N]
    8,111
    7,944

    Interests on AT1, including issuance costs, before tax, foreign exchange impact, annualised

    [O]
    -515
    -799

    Result adjusted

    [P] = [N]+[O]
    7,596
    7,145

    Tangible NBV (TNBV), not revaluated attrib. to ord. sh. – avg *** (2)

    [J]
    47,752
    44,671

    Stated ROTE adjusted (%)

    = [P] / [J]
    15.9%
    16.0%

    *** including assumption of dividend for the current exercice

    (1) ROTE calculated on the basis of an annualised net income Group share and linearised IFRIC costs over the year
    (2) Average of the NTBV not revalued attributable to ordinary shares, calculated between 31/12/2024 and 21/03/2025 (line [E]), restated with an assumption of dividend for current exercises

    Alternative Performance Indicators54

    NBV Net Book Value (not revalued)
    The Net Book Value not revalued corresponds to the shareholders’ equity Group share from which the amount of the AT1 issues, the unrealised gains and/or losses on OCI Group share and the pay-out assumption on annual results have been deducted.

    NBV per share Net Book Value per share – NTBV Net Tangible Book Value per share
    One of the methods for calculating the value of a share. This represents the Net Book Value divided by the number of shares in issue at end of period, excluding treasury shares.

    Net Tangible Book Value per share represents the Net Book Value after deduction of intangible assets and goodwill, divided by the number of shares in issue at end of period, excluding treasury shares.

    EPS Earnings per Share
    This is the net income Group share, from which the AT1 coupon has been deducted, divided by the average number of shares in issue excluding treasury shares. It indicates the portion of profit attributable to each share (not the portion of earnings paid out to each shareholder, which is the dividend). It may decrease, assuming the net income Group share remains unchanged, if the number of shares increases.

    Cost/income ratio
    The cost/income ratio is calculated by dividing operating expenses by revenues, indicating the proportion of revenues needed to cover operating expenses.

    Cost of risk/outstandings
    Calculated by dividing the cost of credit risk (over four quarters on a rolling basis) by outstandings (over an average of the past four quarters, beginning of the period). It can also be calculated by dividing the annualised cost of credit risk for the quarter by outstandings at the beginning of the quarter. Similarly, the cost of risk for the period can be annualised and divided by the average outstandings at the beginning of the period.

    Since the first quarter of 2019, the outstandings taken into account are the customer outstandings, before allocations to provisions.

    The calculation method for the indicator is specified each time the indicator is used.

    Doubtful loan
    A doubtful loan is a loan in default. The debtor is considered to be in default when at least one of the following two conditions has been met:

    • a payment generally more than 90 days past due, unless specific circumstances point to the fact that the delay is due to reasons independent of the debtor’s financial situation.
    • the entity believes that the debtor is unlikely to settle its credit obligations unless it avails itself of certain measures such as enforcement of collateral security right.

    Impaired loan
    Loan which has been provisioned due to a risk of non-repayment.

    Impaired (or non-performing) loan coverage ratio 
    This ratio divides the outstanding provisions by the impaired gross customer loans.

    Impaired (or non-performing) loan ratio 
    This ratio divides the impaired gross customer loans on an individual basis, before provisions, by the total gross customer loans.

    Net income Group share
    Net income/(loss) for the financial year (after corporate income tax). Equal to net income Group share, less the share attributable to non-controlling interests in fully consolidated subsidiaries.

    Net income Group share attributable to ordinary shares
    The net income Group share attributable to ordinary shares represents the net income Group share from which the AT1 coupon has been deducted, including issuance costs before tax.

    RoTE Return on Tangible Equity
    The RoTE (Return on Tangible Equity) measures the return on tangible capital by dividing the Net income Group share annualised by the Group’s NBV net of intangibles and goodwill. The annualised Net income Group share corresponds to the annualisation of the Net income Group share (Q1x4; H1x2; 9Mx4/3) excluding impairments of intangible assets and restating each period of the IFRIC impacts in order to linearise them over the year.

    Disclaimer

    The financial information on Crédit Agricole S.A. and Crédit Agricole Group for first quarter 2025 comprises this presentation and the attached appendices and press release which are available on the website: https://www.credit-agricole.com/finance/publications-financieres.

    This presentation may include prospective information on the Group, supplied as information on trends. This data does not represent forecasts within the meaning of EU Delegated Act 2019/980 of 14 March 2019 (Chapter 1, article 1, d).

    This information was developed from scenarios based on a number of economic assumptions for a given competitive and regulatory environment. Therefore, these assumptions are by nature subject to random factors that could cause actual results to differ from projections. Likewise, the financial statements are based on estimates, particularly in calculating market value and asset impairment.

    Readers must take all these risk factors and uncertainties into consideration before making their own judgement.

    Applicable standards and comparability

    The figures presented for the three-months period ending 31 March 2025 have been prepared in accordance with IFRS as adopted in the European Union and applicable at that date, and with regulations currently in force. This financial information does not constitute a set of financial statements for an interim period as defined by IAS 34 “Interim Financial Reporting” and has not been audited.

    Note: The scopes of consolidation of the Crédit Agricole S.A. and Crédit Agricole groups have not changed materially since the Crédit Agricole S.A. 2024 Universal Registration Document and its A.01 update (including all regulatory information about the Crédit Agricole Group) were filed with the AMF (the French Financial Markets Authority).

    The sum of values contained in the tables and analyses may differ slightly from the total reported due to rounding.

    Other information

    Crédit Agricole S.A.’s Combined General Meeting will take place on 14 May 2025 in Paris.

    As announced at the time of the publication of Crédit Agricole S.A.’s 2024 results, the Board of Directors will propose to the General Meeting a cash dividend of €1.10 per share

    26 May 2025: ex-dividend date
    27 May 2025: Record date
    28 May 2025: Dividend payment

    Financial Agenda

    14 May 2025                General Meeting
    31 July 2025                Publication of the 2025 second quarter and the first half-year results
    30 October 2025                Publication of the 2025 third quarter and first nine months results

    Contacts

    CREDIT AGRICOLE PRESS CONTACTS

    CRÉDIT AGRICOLE S.A. INVESTOR RELATIONS CONTACTS

    Institutional investors + 33 1 43 23 04 31 investor.relations@credit-agricole-sa.fr
    Individual shareholders + 33 800 000 777 (freephone number – France only) relation@actionnaires.credit-agricole.com
         
    Cécile Mouton + 33 1 57 72 86 79 cecile.mouton@credit-agricole-sa.fr
     

    Equity investor relations:

    		    
    Jean-Yann Asseraf
    Fethi Azzoug    		 + 33 1 57 72 23 81
    + 33 1 57 72 03 75    		 jean-yann.asseraf@credit-agricole-sa.fr fethi.azzoug@credit-agricole-sa.fr
    Oriane Cante + 33 1 43 23 03 07 oriane.cante@credit-agricole-sa.fr
    Nicolas Ianna + 33 1 43 23 55 51 nicolas.ianna@credit-agricole-sa.fr
    Leila Mamou + 33 1 57 72 07 93 leila.mamou@credit-agricole-sa.fr
    Anna Pigoulevski + 33 1 43 23 40 59 anna.pigoulevski@credit-agricole-sa.fr
         
         
    Debt investor and rating agency relations:  
    Gwenaëlle Lereste + 33 1 57 72 57 84 gwenaelle.lereste@credit-agricole-sa.fr
    Florence Quintin de Kercadio + 33 1 43 23 25 32 florence.quintindekercadio@credit-agricole-sa.fr
    Yury Romanov + 33 1 43 23 86 84 yury.romanov@credit-agricole-sa.fr
         
         

    See all our press releases at: www.credit-agricole.com – www.creditagricole.info

               

    1 Car, home, health, legal, all mobile phones or personal accident insurance.
    2 CA Auto Bank, automotive JVs and automotive activities of other entities
    3 Low-carbon energy outstandings made up of renewable energy produced by the clients of all Crédit Agricole Group entities, including nuclear energy outstandings for Crédit Agricole CIB.
    4CAA outstandings (listed investments managed directly, listed investments managed under mandate and unlisted investments managed directly) and Amundi Transition Energétique.
    5 Crédit Agricole Group outstandings, directly or via the EIB, dedicated to the environmental transition according to the Group’s internal sustainable assets framework, as of 31/12/2024. Change of method compared with the outstandings reported at 30/09/2024: with the same method, the outstandings at 31/12/2024 would be €115.5 billion.
    6 Direct exposure to project financing of hydrocarbon extraction (gross exposure excl. export credit cover).

    7 The cost of risk/outstandings (in basis points) on a four-quarter rolling basis is calculated on the cost of risk of the past four quarters divided by the average outstandings at the start of each of the four quarters
    8 The cost of risk/outstandings (in basis points) on an annualised basis is calculated on the cost of risk of the quarter multiplied by four and divided by the outstandings at the start of the quarter
    9 Average rate of loans to monthly production for January and February 2025.
    10 Equipment rate – Home-Car-Health policies, Legal, All Mobile/Portable or personal accident insurance
    11 Home Purchase Savings Plan base effect (reversal of the Home Purchase Savings Plan provision) in Q1-24 totalling +€41m in revenues and +€30m in net income Group share 
    12 Scope effect of Degroof Petercam revenues: +€164 million in the first quarter of 2025
    13 Includes -€115 million in scope effect on Degroof Petercam

    14 Provisioning rate calculated with outstandings in Stage 3 as denominator, and the sum of the provisions recorded in Stages 1, 2 and 3 as numerator.
    15 The cost of risk/outstandings (in basis points) on a four-quarter rolling basis is calculated on the cost of risk of the past four quarters divided by the average outstandings at the start of each of the four quarters
    16 The cost of risk/outstandings (in basis points) on an annualised basis is calculated on the cost of risk of the quarter multiplied by four and divided by the outstandings at the start of the quarter
    17 See Appendixes for details on the calculation of the RoTE (return on tangible equity)
    18 The annualised net income Group share corresponds to the annualisation of the net income Group share (Q1x4; H1x2; 9Mx4/3) by restating each period for IFRIC impacts and the corporate income tax surcharge to linearise them over the year
    19 In local standards
    20 Property and casualty insurance premium income includes a scope effect linked to the initial consolidation in Q2-24 of CATU (a property and casualty insurance entity in Poland) with retroactive effect at 1 January 2024: +7.7% Q1/Q1 increase in premium income at constant scope

    21 Scope: property and casualty in France and abroad
    22 Combined property & casualty ratio in France (Pacifica) including discounting and excluding undiscounting, net of reinsurance: (claims + operating expenses + fee and commission income)/gross premiums earned. Undiscounted ratio: 95.9% (-0.4 pp over the year)
    23 The Agrica – Crédit Agricole Assurances – Groupama consortium chosen to ensure the new health care scheme for employees as of 01/01/25
    24 Excluding JV
    25 Excluding assets under custody for institutional clients
    26 Amount of allocation of Contractual Service Margin (CSM), loss component and Risk Adjustment (RA), and operating variances net of reinsurance, in particular
    27 Amount of allocation of CSM, loss component and RA, and operating variances net of reinsurance, in particular.
    28 Net of reinsurance cost, including financial results
    29 The charge on Tier 1 debt is recorded as a non-controlling interest while that of Tier 2 debt is deducted from the revenues.
    30 Integration costs of -€7m in Q1-25 vs. -€13m in Q4-24, related to Victory and aixigo
    31 Indosuez Wealth Management scope
    32 Degroof Petercam data for the quarter included in Wealth Management results: Revenues of €164m and expenses of -€115m (excluding integration costs partly borne by Degroof Petercam)
    33 Refinitiv LSEG
    34 Bloomberg in EUR
    35 ISB integration costs: -€9m in Q1-25 (€20m in Q1-24)
    36 CA Auto Bank, automotive JVs and auto activities of other entities
    37 CA Auto Bank and automotive JVs
    38 Cost of risk for the last four quarters as a proportion of the average outstandings at the beginning of the period for the last four quarters.
    39 Net of POCI outstandings
    40 Source Abi Monthly Outlook April 2025: stable +0.0% March/March for all loans
    41 At 31 March 2025 this scope includes the entities CA Italia, CA Polska, CA Egypt and CA Ukraine.

    42 Over a rolling four quarter period.
    43 SREP requirement applicable at 31 March 2025, including the combined capital buffer requirement (a) for Crédit Agricole Group a 2.5% capital conservation buffer, a 1% G-SIB buffer (which will increase to 1.5% on 1 January 2026 following the notification received from the ACPR on 27 November 2024), the countercyclical buffer set at 0.75%, as well as the 0.06% systemic risk buffer and (b) for Crédit Agricole S.A., a 2.5% capital conservation buffer, the countercyclical buffer set at 0.58% as well as the 0.09% systemic risk buffer.  
    44 As part of its annual resolvability assessment, Crédit Agricole Group has chosen to continue waiving the possibility offered by Article 72ter(3) of the Capital Requirements Regulation (CRR) to use senior preferred debt for compliance with its TLAC requirements in 2025.
    45 In the event of non-compliance with the combined capital buffer requirement. The distributable elements of Crédit Agricole S.A. amounted to €42.9 billion, including €29.6 billion in distributable reserves and €13.3 billion in share premiums at 31 December 2024.
    46From December 2024, securities within liquidity reserves are valued after discounting idiosyncratic stress (previously systemic stress) to better reflect the economic reality of central bank value.
    47 Gross amount before buy-backs and amortisations
    48 Gross amount before buy-backs and amortisations
    49 Excl. AT1 issuances
    50 Excl. AT1 issuances
    51 Excl. senior secured issuances
    52 Excl. AT1 issuances
    53 Excl. senior secured issuances
    54 APMs are financial indicators not presented in the financial statements or defined in accounting standards but used in the context of financial communications, such as net income Group share or RoTE. They are used to facilitate the understanding of the company’s actual performance. Each APM indicator is matched in its definition to accounting data.

    Attachment

    The MIL Network –