Source: US Federal Deposit Insurance Corporation FDIC
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Category: Banking
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MIL-OSI USA: Joint Press Release: Agencies Take Action on Appraisal Requirements in an Area Affected by California Wildfires and Straight-line Winds
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MIL-OSI: Five Star Bancorp Announces First Quarter 2025 Earnings Release Date and Webcast
Source: GlobeNewswire (MIL-OSI)
RANCHO CORDOVA, Calif., April 15, 2025 (GLOBE NEWSWIRE) — Five Star Bancorp (Nasdaq: FSBC) (“Five Star” or the “Company”), a holding company that operates through its wholly owned banking subsidiary, Five Star Bank (the “Bank”), expects to report its financial results for the quarter ended March 31, 2025, after the stock market closes on Monday, April 28, 2025.
Management will host a live webcast for analysts and investors to review this information at 1:00 PM ET (10:00 AM PT) on April 29, 2025.
The live webcast will be accessible from the “News & Events” section of the Company’s website under “Events” at https://investors.fivestarbank.com/news-events/events. Please pre-register for the event using this link. The webcast will be archived on the Company’s website for a period of 90 days.
About Five Star Bancorp
Five Star is a bank holding company headquartered in Rancho Cordova, California. Five Star operates through its wholly owned banking subsidiary, Five Star Bank. The Bank has eight branches in Northern California. For more information, visit https://www.fivestarbank.com.
Investor Contact:
Heather C. Luck, Chief Financial Officer
Five Star Bancorp
(916) 626-5008
hluck@fivestarbank.comMedia Contact:
Shelley R. Wetton, Chief Marketing Officer
Five Star Bancorp
(916) 284-7827
swetton@fivestarbank.com -
MIL-OSI: Societe Generale: Availability or consultation of the information relating to the combined General Meeting of Shareholders dated 20 May 2025
Source: GlobeNewswire (MIL-OSI)
AVAILABILITY OR CONSULTATION OF THE INFORMATION RELATING TO THE COMBINED GENERAL MEETING OF SHAREHOLDERS DATED 20 MAY 2025
Press release
Paris, 15 April 2025
The Combined General Meeting of shareholders will be held on 20 May 2025, at 4 pm, at CNIT Forest, 2, Place de la Défense, 92092 Puteaux, France.
The notice of meeting and the convening notice relating to this Meeting were respectively published in the Bulletins des Annonces Légales Obligatoires (BALO) dated 12 March and 14 April 2025.
These notices, the convening brochure as well as the documents and information mentioned in Article R. 22-10-23 of the French Commercial Code intended to be presented to the Meeting are now (regarding the information mentioned in Article R. 225-83 of the French Commercial Code) or will be made available to the shareholders on Societe Generale’s website at the following address:
https://www.societegenerale.com/en/societe-generale-group/governance/annual-general-meeting.The documents to be made available to the shareholders as part of this Meeting, may be consulted by the shareholders, in accordance with the conditions provided by the applicable regulations, at the administrative office of Societe Generale, 17 cours Valmy – 92972 La Défense Cedex (France), by sending a request by email to the electronic address: General.meeting@socgen.com.
Press contacts:
Jean-Baptiste Froville_+33 1 58 98 68 00_ jean-baptiste.froville@socgen.com
Fanny Rouby_+33 1 57 29 11 12_ fanny.rouby@socgen.com
Societe GeneraleSociete Generale is a top tier European Bank with around 119,000 employees serving more than 26 million clients in 62 countries across the world. We have been supporting the development of our economies for 160 years, providing our corporate, institutional, and individual clients with a wide array of value-added advisory and financial solutions. Our long-lasting and trusted relationships with the clients, our cutting-edge expertise, our unique innovation, our ESG capabilities and leading franchises are part of our DNA and serve our most essential objective – to deliver sustainable value creation for all our stakeholders.
The Group runs three complementary sets of businesses, embedding ESG offerings for all its clients:
- French Retail, Private Banking and Insurance, with leading retail bank SG and insurance franchise, premium private banking services, and the leading digital bank BoursoBank.
- Global Banking and Investor Solutions, a top tier wholesale bank offering tailored-made solutions with distinctive global leadership in equity derivatives, structured finance and ESG.
- Mobility, International Retail Banking and Financial Services, comprising well-established universal banks (in Czech Republic, Romania and several African countries), Ayvens (the new ALD I LeasePlan brand), a global player in sustainable mobility, as well as specialized financing activities.
Committed to building together with its clients a better and sustainable future, Societe Generale aims to be a leading partner in the environmental transition and sustainability overall. The Group is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).
In case of doubt regarding the authenticity of this press release, please go to the end of the Group News page on societegenerale.com website where official Press Releases sent by Societe Generale can be certified using blockchain technology. A link will allow you to check the document’s legitimacy directly on the web page.
For more information, you can follow us on Twitter/X @societegenerale or visit our website societegenerale.com.
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MIL-OSI USA: SBA Announces Full List of 2025 National Small Business Week Cosponsors
Source: United States Small Business Administration
WASHINGTON — Today, the U.S. Small Business Administration announced its cosponsors for the 2025 National Small Business Week, taking place May 4-10. SCORE, mentors to America’s small businesses and an SBA resource partner, will co-host this year’s National Small Business Week Virtual Summit, a free online event May 6-7 featuring more than a dozen cosponsors leading educational workshops, access to federal resources, and networking and mentorship opportunities.
“SBA is grateful for the private-sector cosponsors who make National Small Business Week possible,” SBA Administrator Kelly Loeffler said. “Along with SCORE, these businesses are stepping up to deliver an informational and insightful week with important resources that will empower entrepreneurs to build their businesses. Their support helps us spotlight America’s job creators – who power our economy and strengthen local communities every day.”
“The National Small Business Week Virtual Summit is an exciting opportunity for both aspiring and current small business owners to gain insights from experienced mentors and industry experts,” said SCORE CEO Bridget Weston. “As SCORE celebrates 60 years of providing valuable mentoring services to America’s small businesses, we are eager to share what we’ve learned with today’s entrepreneurs – wherever you are on your business journey.”
An agenda for the National Small Business Week Virtual Summit will be published soon; registration is required. The following cosponsors lead the sessions:
Platinum Level Sponsor
Gold Level Sponsors
- T-Mobile
Silver Level Sponsors
- Verizon
- Paychex
- U.S. Bank
- Amazon
- Constant Contact
- Block
- JP Morgan Chase
Bronze Level Sponsors
- Lockheed Martin
- Worldpay
The National Small Business Week Virtual Summit is part of SBA’s year-round efforts to leverage technology to reach small business owners in communities across America. An in-person, national award celebration will take place on May 5 in Washington, D.C., and local winners will be recognized at award events across the nation.
Details on National Small Business Week, the virtual summit, registration and speakers are featured on National Small Business Week and will be updated as additional information and activities are confirmed. Local events will be featured on Find upcoming events and are identifiable by searching with #SmallBusinessWeek.
# # #
About SCORE
SCORE, the nation’s largest network of volunteer, expert business mentors, is dedicated to helping small businesses get off the ground, grow and achieve their goals. Since 1964, SCORE has provided education and mentorship to more than 11 million entrepreneurs. SCORE is a 501(c)(3) nonprofit organization and a resource partner of the U.S. Small Business Administration.
About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of entrepreneurship. As the leading voice for small businesses within the federal government, the SBA empowers job creators with the resources and support they need to start, grow, and 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.
Cosponsorship Authorization #24-44-C. SBA’s participation in this Cosponsored Activity is not an endorsement of the views, opinions, products or services of any Cosponsor or other person or entity. All SBA programs and services are extended to the public on a nondiscriminatory basis.
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MIL-OSI: Community Savings Dominates BC Cannabis Banking — Celebrates 4/20 with Free Accounts, Bold Campaign, and Game-Changing Credit Access
Source: GlobeNewswire (MIL-OSI)
– BC’s largest cannabis banker with 233 businesses as part of its cannabis community has disbursed over $22M in commercial loans and working capital, expanded market share to 30%, and is rolling out its “We’re Not Your Usual Banking Joint – We’re Better” campaign to support additional sector growth
VANCOUVER, British Columbia / Unceded Territories of the Musqueam, Squamish and Tsleil-Waututh Nations, April 15, 2025 (GLOBE NEWSWIRE) — Community Savings, BC’s largest cannabis-friendly credit union, is shaking up the system. As the first and only financial institution in the province to offer full-service banking, credit cards, and working capital to cannabis businesses, the credit union is marking 4/20 by celebrating its most significant milestones yet—and launching a bold new campaign: “Not Your Usual Banking Joint.”
Mike Schilling, President & CEO, Community Savings says, “Legal cannabis entrepreneurs have been overcharged, overregulated, and overlooked. We’re putting money back in their pockets with smarter, fairer financial tools—because it’s long past the time the cannabis industry got treated like real businesses. We’re eliminating red tape and providing real financial support to help cannabis businesses scale and succeed. Over the last 6 years, we’ve made sure our cannabis members have the same banking privileges as any other industry. This community needs a financial partner that rolls at their speed and we’re here to deliver that.”
Community Savings has been a fierce advocate for financial inclusivity in the cannabis sector, pushing back against outdated banking norms and championing tailored solutions that directly benefit businesses. Key achievements include:
- Credit Cards for Cannabis? Finally.: In an industry where major banks still refuse basic services, Community Savings has stepped up—becoming the only institution to offer pre-approved credit cards to cannabis businesses. To date, 38 credit cards have been provided. This shift enables cannabis businesses to move beyond cash-only transactions, improving both security and scalability.
- $22 million in commercial lending and working capital to the cannabis industry: In partnership with We Can Capital Inc, Community Savings has advanced funds against invoices from the BC Liquor Distribution Branch (BCLDB), Alberta Gaming, Liquor & Cannabis (AGLC), Manitoba Liquor and Lotteries (MBLL) and the Ontario Cannabis Store (OCS). This immediate cash liquidity helps accelerate production, secure better supplier terms, scale their business, and drive net financial gains.
- Fueling the growth of BC’s cannabis industry: Community Savings now supports 233 legal cannabis businesses in BC with fair, stigma-free financial services. In just two years, it has grown its cannabis banking portfolio by 70% – a testament to the urgent need for accessible banking in the industry.
- Fair, accessible banking for cannabis businesses: Community Savings offers its QUADs business account with the same transparent pricing as any other business. This is revolutionary in a space where traditional banks are charging cannabis retailers up to $7,500 just to open a chequing account – often refusing service outright or imposing fees that are 1,500% to 5,000% higher than those for other retail businesses. At Community Savings, the account opening fee is $0. That’s right – zero. By removing these financial barriers, Community Savings is making banking affordable and accessible to the industry.
Community Savings’ latest campaign, ‘We’re not your usual banking joint – we’re better’ welcomes new cannabis businesses with waived application fees to its QUADs business account. With the QUAD account, cannabis businesses get access to fair and accessible banking products that help them scale and grow their business, and improve cash flows.
For more information or to sign up for their chequing package, visit: https://www.comsavings.com/rollwithus
Hear from the industry
Regulatory roadblocks, cash flow headaches, and financial stigma have made running a cannabis business needlessly difficult. But for Randy Tingskou, President of A Little Bud, having the right financial partner has been a game-changer.
“The cannabis industry is run on a pay to play model, where cash is often the only option, even for placing orders to BCLDB. This creates major barriers for retail businesses like ours looking to expand into new markets and open more storefronts. Community Savings actually fought to get us access to credit. Now we’ve shifted to credit payments for everyday expenses. This has been a game-changer in streamlining our operational costs and freeing up cash flow for growth,” Randy says. A Little Bud is opening its fourth location in Duncan in July.
Another perspective comes from Joshua Reynolds, Director of Partnerships at We Can Capital, who has seen firsthand how the right financing tools can reshape the cannabis industry. “What Community Savings is doing isn’t flashy or new – it’s foundational. They’re giving businesses the tools to function like any other industry. That shouldn’t be revolutionary, but in cannabis, it is,” Joshua says.
Through a partnership with Community Savings, We Can Capital is focused on expanding access to affordable accounts receivable financing for BC-based LPs, helping remove systemic barriers and creating a strong foundation for growth across the sector.
About Community Savings:
Community Savings Credit Union is driven by its purpose to unite working people to build a just world. As BC’s largest fully unionized credit union, Community Savings provides best-in-class personal and business banking. It is the largest provider of banking services to the BC cannabis industry of growers, producers, retailers and ancillary businesses, providing day-to-day banking, lending, and account receivables financing to support the growing sector.Community Savings operates seven branches across the Lower Mainland and Victoria and services its cannabis members province-wide. It lives by its values, from being the first financial institution to become a Living Wage employer in 2010 to winning the 2022 BCBusiness Business of Good Workplace Wellness Award for its innovative staff wellness programs. For more about Community Savings, visit www.comsavings.com.
Media Contact
Yulu Public Relations
cscu@yulupr.com -
MIL-OSI Economics: 15 April 2025
Source: Bank of Botswana
The Monetary Policy Rate (MoPR) was unchanged at 1.9 percent of the previous week, for a paper maturing on 23 April 2025. The summarised results of the auction held on 15 April 2025, are attached below:
BOBC Results 15 April 2025.pdf
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MIL-OSI: First American Bank Strengthens Leadership Team with Alex Pascual as Commercial Lending Group Head
Source: GlobeNewswire (MIL-OSI)
MIAMI, April 15, 2025 (GLOBE NEWSWIRE) — First American Bank is pleased to announce the appointment of Alex Pascual as Commercial Lending Group Head. With over 25 years of experience in commercial banking, Pascual joins the bank from Amerant Bank, where he served as Senior Vice President, specializing in business development and managing complex lending solutions for small to mid-sized businesses across various industries.
“We’re excited to welcome Alex to our team,” said Brian Hagan, Florida Market President for First American Bank. “His extensive background in commercial lending and client relationship management will help us further enhance our offerings for Florida’s business community, delivering both sophisticated financial solutions and the personalized service our clients value.”
First American Bank’s unique model combines the resources of a large institution with the personalized service of a community bank. This allows First American Bank to support businesses at every stage of growth, from early development to managing wealth after a liquidity event.
“Alex’s leadership will be key as we continue to offer clients comprehensive, customized solutions,” Hagan continued. “We’re confident that his expertise will strengthen our relationships and better position us to meet the long-term financial goals of our clients.”
As a privately owned bank with over 20 years of legacy in the Florida community, First American Bank’s commitment to personalized service and tailored financial strategies sets it apart in a competitive market. Pascual’s appointment further bolsters the bank’s ability to provide expert advice and innovative financial solutions for business owners and entrepreneurs.
“I’m honored to join a bank with such a strong local legacy and a commitment to its clients,” said Pascual. “I look forward to helping First American Bank continue to deliver personalized, high-touch service while supporting businesses in achieving their goals and long-term financial success.”
For more information about First American Bank and its services, visit www.firstambank.com.
Contact:
Teresa Lee
305-631-6400
tlee@firstambank.comFirst American Bank is a Member FDIC.
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MIL-OSI Africa: Nigeria’s Cross River State second to commence construction of its Special Agro-Industrial Processing Zone
Source: Africa Press Organisation – English (2) – Report:
CALABAR, Nigeria, April 15, 2025/APO Group/ —
Nigeria’s Cross River State became the second to mark construction of a Special Agro-Industrial Processing Zone after the country’s Vice President Kashim Shettima and African Development Bank (www.AfDB.org) President Dr. Akinwumi Adesina broke ground at the project site on Thursday 10 April.
The SAPZ aims to tackle food insecurity, enhance local production, and position Nigeria as a food export leader by leveraging Cross River’s ports and research assets to boost global trade, reduce food imports, and drive prosperity through the agro-industrialization of crops like cocoa and cassava.
The groundbreaking in Cross River follows that of Kaduna (http://apo-opa.co/42Mquvu) which took place few days earlier. Six other states – Kano, Kwara, Imo, Ogun, Oyo, and the Federal Capital Territory – are included in Phase 1 of the $538 million SAPZ program, with plans to expand to the remaining 28 states this year pending the African Development Bank’s Executive Board approval for Phase 2 funding.
Shettima emphasized the project’s priority and need for national collaboration: “The SAPZ program has been recognized as a national priority for food security in Nigeria.” He noted, “There is no better time than now for the federal and state governments, development partners, the private sector, and our communities to work hand in hand to ensure the success of the SAPZ project.”
Adesina celebrated the milestone, saying, “Today is a big day for Nigeria,” and added, “The Special Agro-Industrial Processing Zones is bringing good news to Nigeria, State Governments and Local Governments. Good news to farmers, agribusinesses, and all rural areas of Nigeria. Good news of jobs, wealth, and prosperity with agriculture as a business.
“With the abundant arable land, cheap labor and vast agro-ecological areas, Nigeria should not be importing food,” said Adesina who was accompanied by his wife Grace Yemisi Adesina.
The Bank Group president highlighted Cross River’s export potential: “Bakasi deep seaport will turn the state into a logistics hub in Nigeria and the Gulf of Guinea, enabling trade with Cameroon, Equatorial Guinea, and Guinea Bissau.”
The 130-hectare Agro-Industrial Hub in Adiabo will leverage the Calabar Sea Port, Bakassi Deep Sea Port, a 23 kVA power plant in Tinapa, and a 630 kVA Calabar Power Plant. Its Agricultural Transformation Centre, supported by the Cocoa Research Institute of Nigeria and the University of Calabar, lies less than 45 minutes from Ikom, Etung, and Boki, boosting cocoa production for global markets.
Governor Bassey Otu outlined the state’s vision, saying, “For us in Cross River State, the establishment of clusters of smallholder farmers focused on staple and cash crops such as rice, cassava, millet, cocoa, and oil palm is a vital step toward agro-industrialization.”
“These initiatives are aimed at strengthening food security, diversifying our state’s economy toward export-oriented agriculture, and boosting our GDP,” added Governor Otu, saying the state should expect to see a big difference in two years.
The African Development Bank Group is investing $210 million, including $50 million from its Africa Growing Together Fund. The Islamic Development Bank is contributing $150 million, the International Fund for Agricultural Development is contributing $100 million, the Green Climate Fund is contributing $60 million, and the government is contributing $18 million.
Speaking during the occasion, the International Fund for Agricultural Development’s Country Director, Dede Ekoue, noted that the SAPZ will build on the Livelihood Improvement Family Enterprises in the Niger Delta (LIFE-ND) project which has empowered 26,000 youth and women agripreneurs in the Niger Delta, including 4,000 in Cross River, with plans to scale to 100,000 by 2028.
The Minister of Agriculture and Food Security, Abubakar Kyari, said, “The SAPZ program is a powerful catalyst for economic growth and import substitution. By investing in agro-processing development, we are investing in the future of our communities.”
The African Development Bank Group has committed $934 million to SAPZs in 11 African countries. The 2024 Africa Investment Forum (http://apo-opa.co/42eqx33), held in Morocco, recorded $2.2 billion in investor interest for 28 Nigerian states, which make up the second phase of the project.
Adesina explained that with the Special Agro-Industrial Processing Zones, Nigeria will reduce food imports, conserve foreign exchange, expand local production and processing of food and agricultural commodities, strengthen the Naira, and attract significant private investment into the development of agricultural value chains.
The Special Agro-Industrial Processing Zones will also revive and transform rural economies and create millions of jobs.
Adesina was accompanied by the African Development Bank Vice President for Agriculture, Human and Social Development Dr Beth Dunford, the Director General for Nigeria Dr Abdul Kamara, Prof Oyebanji Oyelaran-Oyeyinka, Senior Special Adviser on Industrialisation, Director Richard Ofori-Mante, Director of the Agricultural Finance and Rural Development Department, and Dr Yusuf Kabir, National Coordinator for SAPZ, Nigeria.
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MIL-OSI Africa: G20 Finance Ministers set to meet in US
Source: South Africa News Agency
The Group of Twenty (G20) Finance Ministers and Central Bank Governors are set to convene a two-day meeting on the sidelines of the International Monetary Fund (IMF) and World Bank Spring Meetings, taking place in the United States, later this month.
The G20 is an international forum of both developing and developed countries, which seeks to find solutions to global economic and financial issues.
This meeting is part of the Finance Track under South Africa’s G20 Presidency, which will gather Finance Ministers and Central Bank Governors of G20 member countries, invited countries, and international organisations to discuss global economic challenges, financial stability, and policies aimed at fostering economic growth.
South Africa’s G20 Presidency commenced on 1 December 2024 and will run until 30 November 2025. It is taking place under the theme: “Solidarity, Equality, and Sustainability.”
The Finance Track is co-chaired by Finance Minister, Enoch Godongwana, and South African Reserve Bank Governor, Lesetja Kganyago.
G20 members include the world’s major economies, representing 85% of global GDP, 75% of international trade, and two-thirds of the world’s population.
The G20 comprises 19 countries (including Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, the United Kingdom, and the United States), the European Union, and since 2023, the African Union.
The two-day meeting will take place from 23-24 April 2025, in Washington, D.C.
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MIL-OSI Europe: A material gender pay gap persists across EU banks and investment firms, the EBA observes in its Benchmarking Report
Source: European Banking Authority
The European Banking Authority (EBA) today published its Report on Remuneration and Gender Pay Gap Benchmarking for institutions and investment firms. The Report shows a material gender pay gap in 2023 with women earning less than men. Remuneration practices in institutions remained stable between 2021 – 2023, but the ratio between the variable and fixed remuneration in investment firms increased significantly after the introduction of the Investment Firms Directive (IFD).
Alongside its annual Report on Remuneration of identified staff, the EBA is releasing, for the first time, a detailed section on gender pay gap covering all staff as well as those identified as having a material impact on the risk profile of institutions and investment firms.
In 2023, the average ratio between variable and fixed remuneration for identified staff in investment firms stood at 145.85% (2022: 191.42%), higher and less stable compared to the ratio in institutions of 59.59% (2022: 58.62%). Higher bonuses in investment firms are driven by different business models and a more volatile profitability. In 2023, the highest bonuses in institutions were paid in the area of investment banking, whereas in investment firms in the area of dealing on own account, underwriting and placing of instruments, where the average ratio reached 521%. This is a material increase compared to 2021, where for investment firms a 100% limit (200% with shareholders’ approval) for bonuses compared to the fixed remuneration applied. The bonus ratios in other business areas were much lower and remained between 35% and 120%.
On average, female staff in institutions earned 24.48% less in 2023 than their male counterparts. For risk takers (identified staff) the difference was at 21.64%. The pay gap was even more pronounced in investment firms, with female staff earning 32.0% and female identified staff earning 31.74% less than their male colleagues. The pay gap was mainly caused by the underrepresentation of women in higher paid positions. The Report shows the gender pay gap for each quartile of pay level. Women only held 33.45% of the highest paid positions in institutions and just 12.99% of them in investment firms. However, overall, women and men were equally represented in institutions (median representation of women 51.65%) but underrepresented in investment firms (35.43%).
The data underscores the need for entities and competent authorities to analyse closer the reasons for the observed gender pay gap and to address gender pay and gender representation disparities. In this context the EBA is also revising its internal governance Guidelines to further improve the monitoring of gender aspects in institutions and investment firms.
Legal basis and background
The EBA collects remuneration and gender pay gap data from competent authorities for benchmarking under Article 75(1) of Directive 2013/36/EU (CRD) and Article 34(1) of Directive 2019/2034/EU (IFD) and as specified in Guidelines (EBA/GL/2022/06) and (EBA/GL/2022/07), both published on 30/06/2022.
The Capital Requirements Directive (CRD) and the IFD include requirements on the variable remuneration of identified staff, who have a material impact on the banks or investment firms risk profile, or the assets managed by them. Until 2021, investment firms were subject to the same requirements as banks, including a limitation of the variable to fixed remuneration of identified staff to 100% (200% with shareholders’ approval). As of 2022, this requirement, that aims to prevent excessive risk taking, no longer applies to investment firms, that have to set an appropriate ratio for this purpose in their remuneration policies.
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MIL-OSI Global: Canada’s federal election doesn’t seem like it’s about climate change, but it actually is
Source: The Conversation – Canada – By Mark Winfield, Professor, Environmental and Urban Change, York University, Canada
A defining feature of the ongoing federal election campaign has been the apparent marginalization of the environment and climate change as top-of-mind issues due to threats by the United States against Canadian sovereignty, security and trade.
But how Canada responds to U.S. President Donald Trump’s actions will also have profound implications for its future greenhouse gas emissions and its economy.
The current federal election is very different from those held in 2015, 2019 and 2021. In those elections, the environment and climate were central issues. Each time, more than 60 per cent of Canadian voters chose parties (Liberal, NDP, Bloc Québécois and Green) that advocated for strong climate action, including some form of carbon pricing.
Read more:
Canada’s federal election made big strides for climate and the environment
The increasing evidence of the consequences of a changing climate had placed the environment and climate change among the leading issues in the minds of Canadians for nearly two decades. The political landscape has shifted dramatically since then.
The role of inflation
Although Trump’s second presidency is often cited as the trigger point for a decline of the environment as a top-of-mind concern for Canadians, the slide actually began a year earlier, in the fall of 2023.
Despite the record wildfire season that summer, the impact of inflation, triggered in large part by the COVID-19 pandemic and Russia’s invasion of Ukraine, moved economic concerns to the forefront of the public’s mind. Government stimulus programs needed to counter the impacts of the pandemic contributed to inflationary pressures, prompting the Bank of Canada to hike interest rates in response, adding to Canadians’ economic distress.
Amid high inflation and high interest rates, the Liberal government’s climate strategies — especially consumer carbon pricing — became an easy political target, particularly for a Conservative opposition with little apparent concern for the climate challenge.
But even though climate change is no longer top of mind for Canadians, it remains a significant embedded concern, with as many as 70 per cent of Canadians believing climate change is real and caused by human activity. And perhaps surprisingly, despite the criticism levelled at the consumer carbon tax, between 60 and 70 per cent of non-Conservative leaning voters (those intending to cast their ballots for Liberal, NDP, Bloc and Green candidates) continue to support the concept of carbon pricing.
Focus on fossil fuels
Despite this, many political and business leaders have responded to Trump’s actions by focusing on natural resource exports, especially fossil fuels and critical minerals, to bolster the Canadian economy.
This has been accompanied by calls to further streamline environmental review and approval processes for resource extraction and export projects like pipelines, and to expand their subsidization by taxpayers.
Discussions about the climate implications of these initiatives have been noticeably absent. So have conversations about the long-term economic viability and desirability of expanding Canada’s dependency on resource commodity exports to increasingly uncertain global markets.
On fossil fuels, the International Energy Agency and others are predicting that global consumption will peak within the next decade. This will reflect the falling costs of renewable energy, improving energy productivity and the imperative of reaching net zero greenhouse gas emissions by mid-century.
The peak will likely happen before any new major export infrastructure can be built in Canada, regardless of what review and approval requirements they might be subjected to.
In a world of declining fossil fuel consumption, Canada — increasingly reliant on high-cost and high-carbon production like oilsands crude and fracked and liquified natural gas — seems more likely to be among the earliest producers to fall than among the last standing. Public investments in new export infrastructure look like dubious propositions in this scenario.
Read more:
Coal in Alberta: Neither public outrage nor waning global demand seem to matter to Danielle Smith
International markets for critical minerals are likely to remain in deep flux as the pace of technological development in renewable energy and energy storage accelerates to reduce or avoid dependency on costly and difficult-to-access materials.
Mining operations also continue to have substantial environmental impacts with significant implications for reconciliation with Indigenous Peoples in Canada.
Backwards approach
All of this means there must be continued meaningful scrutiny of projects in terms of their implications for climate change, environmental sustainability and reconciliation, as well as their economic viability and potential legacy costs for taxpayers — not a further streamlining of review processes.
Falling back on fossil fuels in response to Trump is a fundamentally backwards approach. It ignores the implications of the climate challenge. As recently noted by at least one Canadian business leader, it also overlooks the need to not just diversify Canada’s markets, but to diversify Canadian products as well.
Canada must design and implement strategies that transform its industries from producers of low-value raw materials into producers of higher-value products and services for a world that must decarbonize and advance sustainability.
As a coalition of Canadian mayors recently pointed out, climate change remains a real threat to Canadians and their communities. It’s not going away regardless of what Trump’s executive orders might say.
As they campaign to lead the country, the situation requires more substantive responses from Canada’s would-be prime ministers than Canadians are getting right now.
Mark Winfield receives funding from the Social Sciences and Humanities Research Council of Canada.
– ref. Canada’s federal election doesn’t seem like it’s about climate change, but it actually is – https://theconversation.com/canadas-federal-election-doesnt-seem-like-its-about-climate-change-but-it-actually-is-254458
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MIL-OSI China: China releases document to clarify statistical standards for five financial sectors
Source: People’s Republic of China – State Council News
China releases document to clarify statistical standards for five financial sectors
BEIJING, April 15 — China issued a document to clarify the statistical standards for five financial sectors in its latest efforts to achieve full coverage of statistical data, the People’s Bank of China (PBOC) announced on Tuesday.
The document, issued by the PBOC in collaboration with the National Financial Regulatory Administration, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange, said that high-quality statistical data support is required for technology finance, green finance, inclusive finance, pension finance, and digital finance.
The document focused on standardizing the statistical entities, scope, indicators, methodologies, identification criteria, data collection, sharing, publication, and division of responsibilities among the departments concerning these sectors.
Experts believe that establishing comprehensive and standardized statistics for these financial sectors will provide strong support for the precise implementation of various policy tools.
This year’s government work report notes that China will improve the standards and foundational institutions for technology finance, green finance, inclusive finance, pension finance, and digital finance.
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MIL-OSI: Guaranteed Rate Affinity Names Bob Bachman Vice President of Mortgage Lending in Los Gatos, CA
Source: GlobeNewswire (MIL-OSI)
CHICAGO, April 15, 2025 (GLOBE NEWSWIRE) — Guaranteed Rate Affinity (GRA), a leading mortgage provider offering unparalleled lending services through its partnership with Coldwell Banker, has appointed Bob Bachman as Vice President of Mortgage Lending in Los Gatos, California.
Bachman brings 23 years of mortgage industry experience to the role and has been a member of the President’s Council for the past decade. He chose to join Guaranteed Rate Affinity for its marketing and technology tools, which help loan officers stay engaged with past clients and maintain strong relationships with real estate professionals.
“Joining Guaranteed Rate Affinity was an easy decision,” said Bachman. “I’ve been in the mortgage space for over two decades now, and the culture at GRA is by far the best at enabling loan officers and industry agents to grow their businesses together, while making the mortgage process easier than ever for customers.”
“We look forward to Bob’s contributions to our team,” said Jim Anderson, Regional President of Guaranteed Rate Affinity. “He has built lasting relationships with clients and partners, and his experience will be valuable in serving borrowers throughout California.”
Bachman, recognized as one of the leading loan specialists in Los Gatos and Santa Clara County, has built a successful career dedicated to helping clients navigate the lending process with confidence. He holds a Bachelor of Science in Mechanical Engineering from the University of Washington, equipping him with a strong analytical and problem-solving mindset that he applies to his work in the financial and real estate sectors. Actively engaged in the real estate community, Bachman remains committed to staying informed and connected to better serve his clients. and has built his career in the San Jose area. Outside of work, he enjoys an active lifestyle that includes boxing, golfing, skiing, and various outdoor activities, continually seeking new challenges both professionally and personally.
About Guaranteed Rate Affinity
Guaranteed Rate Affinity is a joint venture between Guaranteed Rate, Inc. and Anywhere Integrated Services (NYSE: HOUS), which owns some of the industry’s most recognized and respected real estate brands. The innovative JV has funded over $100 billion in loans since its inception. Guaranteed Rate Affinity originates and markets its mortgage lending services to Anywhere’s real estate, brokerage, and relocation subsidiaries.
Guaranteed Rate Affinity provides unmatched support to Anywhere brokers coast-to-coast, ensuring their customers receive fast pre-approvals, appraisals, and loan closings, creating the ability for buyers to move quickly and confidently when purchasing homes in today’s competitive market. The company also provides the same services to the public and other real estate brokerage and relocation companies across the country—helping employers improve their employees’ relocation experience by prioritizing customer service, digital mortgage ease, and competitive rates.
Guaranteed Rate owns a controlling 50.1% stake in Guaranteed Rate Affinity, and Anywhere owns 49.9%. Visit grarate.com for more information.
Media Contact:
press@rate.com -
MIL-OSI: Zero Hash Powered $2 Billion+ in Tokenized Fund Flows within the Last Four Months
Source: GlobeNewswire (MIL-OSI)
CHICAGO, April 15, 2025 (GLOBE NEWSWIRE) — Zero Hash, the leading infrastructure for stablecoins and crypto, today announced it powered more than $2 billion in tokenized fund flows within the last four months – fueling the rise of on-chain capital markets.
As adoption of tokenized funds accelerates, Zero Hash has emerged as a core enabler of the on-chain markets ecosystem. Its infrastructure underpins the payment rails for tokenized funds, including BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) in partnership with Securitize, as well as Franklin Templeton’s BENJI Token and the Hamilton Lane Private Infrastructure Fund (HLPIF) in partnership with Republic. Zero Hash facilitates compliant, real-time, 24/7/365 funding across seven stablecoins, underpinned by 22 blockchains.
Tokenization has the potential to fundamentally reshape financial markets by enabling instant, always-on settlement. Traditional payment systems, however, aren’t designed to support this level of availability and remain a bottleneck. Stablecoins unlock the true utility of tokenized assets, including stable instruments, enabling them to move as flexibly as the blockchain allows. Zero Hash payment rails are an essential tool for institutions looking to unlock blockchain technology and enable completely on-chain transactions, from asset origination to redemption, without having to manage the complexities of accepting stablecoins.
In his annual Letter to Investors, BlackRock Chairman and CEO Larry Fink wrote, “Every stock, every bond, every fund – every asset – can be tokenized. If they are, it will revolutionize investing. Markets wouldn’t need to close. Transactions that currently take days would clear in seconds. And billions of dollars currently immobilized by settlement delays could be reinvested immediately back into the economy, generating more growth.” This vision is already in motion – and Zero Hash is powering the payment rails underpinning tokenized assets.
“Tokenized finance is no longer theoretical. Institutions are deploying real capital to tokenization and need the payment infrastructure to match,” said Edward Woodford, CEO and Founder of Zero Hash. “Our rails enable fully on-chain transactions end-to-end, real-time, 24/7/365. Zero Hash abstracts the blockchain complexity and meets the regulatory standards required by the largest financial firms.”
Zero Hash’s infrastructure is trusted by global businesses that require enterprise-grade stablecoin payment rails. This is because Zero Hash addresses two of the most pressing barriers to institutional adoption: regulatory compliance around source-of-funds transparency and technical complexity. Zero Hash’s abstracts away the complexity of multi-chain, multi-stable operations – allowing issuers to operate with the simplicity of account-to-account transfers, while their infrastructure handles the complexities behind the scenes.
In less than four months, Zero Hash has facilitated over $2 billion in tokenized funding through partners including Securitize, Franklin Templeton, and Republic. The broader market reflects that momentum. The tokenized real-world asset (RWA) market grew ~85% year-over-year to hit $15.2 billion by the end of 2024. In the first quarter of 2025, another $5.44 billion was added – bringing total RWA value on-chain to $20.64 billion, as of April 11th (Source: rwa.xyz). Zero Hash’s on-ramped approximately 35% of all on-chain RWAs in Q1, solidifying its position as a foundational layer in the evolving capital markets stack.
As institutional adoption deepens, Zero Hash continues to serve as the stablecoin infrastructure partner of choice for asset managers and platforms driving the future of financial services.
About Zero Hash
Zero Hash is the leading infrastructure provider for crypto, stablecoin, and tokenized asset settlement. Its embeddable, API-first platform enables regulated money movement across fiat, crypto, and stable instruments. Clients use Zero Hash to build solutions for cross-border payments, commerce, trading, remittance, payroll, tokenization, wallets, on/off-ramps, and more.Zero Hash Holdings is backed by investors, including Point72 Ventures, Bain Capital Ventures, and NYCA.
Zero Hash Trust Company LLC has been approved by the North Carolina Commissioner of Banks as a non-depository trust company.
Zero Hash LLC is a FinCen-registered Money Service Business and a regulated Money Transmitter that can operate in 51 U.S. jurisdictions. Zero Hash LLC and Zero Hash Liquidity Services LLC are licensed to engage in virtual currency business activity by the New York State Department of Financial Services. In Canada, Zero Hash LLC is registered as a Money Service Business with FINTRAC.
Zero Hash Australia Pty Ltd. is registered with AUSTRAC as a Digital Currency Exchange Provider, with DCE registered provider number DCE100804170-001. Zero Hash Australia Pty Ltd. is registered on the New Zealand register of financial service providers, with Financial Service Provider (FSP) number FSP1004503. Zero Hash Europe B.V. is registered as a Virtual Asset Services Provider (VASP) by the Dutch Central Bank (Relation number: R193684). Zero Hash Europe Sp. Zoo is registered as a VASP by the Tax Administration Chamber of Poland in Katowice (Registration number RDWW – 1212).
Media Contact:
Zero Hash
Shaun O’Keeffe
(855) 744-7333
media@zerohash.com -
MIL-OSI: White River Bancshares Co. Reports Net Income of $2.63 million, or $1.07 Per Diluted Share, for the First Quarter of 2025
Source: GlobeNewswire (MIL-OSI)
FAYETTEVILLE, Ark., April 15, 2025 (GLOBE NEWSWIRE) — White River Bancshares Company (OTCQX: WRIV), (the “Company”) the holding company for Signature Bank of Arkansas (the “Bank”), today reported net income increased to $2.63 million, or $1.07 per diluted share, in the first quarter of 2025, compared to $509,000, or $0.26 per diluted share, in the first quarter of 2024. The Company reported net income of $1.83 million, or $0.75 per diluted share, for the prior quarter. All financial results are unaudited and all per share data has been adjusted to reflect the two-for-one stock split effected September 4, 2024.
“Thanks to a solid start to the year, we produced the strongest first quarter earnings in our Bank’s history,” said Gary Head, Chairman and CEO. “Loan portfolio growth contributed to an increase in net interest income compared to the first quarter of 2024. This is exactly the kind of excitement I’ve been ‘banking on’ as we head into the second quarter and celebrate the Bank’s 20 year anniversary. I am confident in our team’s capability and enthusiasm to build upon this momentum for the rest of the year.”
“Expanding our deposit base to fund new loan growth remains our top priority, and also our biggest challenge as a community bank,” said Scott Sandlin, Chief Strategy Officer. “The Company has made deposit gathering the primary focus and our team has done an excellent job of expanding existing client relationships as well as attracting new customers to the Bank. As a result, total deposits increased 9.9% during the first quarter of 2025 and 18.9% year-over-year. At quarter end, demand and non-interest bearing accounts represented 19.3% of total deposits, and savings and interest-bearing transaction accounts represented 38.0% of total deposits. We will continue to look for additional opportunities for growing deposits in the year ahead to keep up with loan demand.”
First Quarter 2025 Financial Highlights:
- Net income for the first quarter of 2025 increased to $2.63 million, or $1.07 per diluted share, compared to $509,000, or $0.26 per diluted share, in the first quarter of 2024.
- Net interest income increased 32.0% to $10.6 million in the first quarter of 2025, compared to $8.0 million in the first quarter of 2024.
- Net interest margin (“NIM”) increased 42 basis points to 3.39% in the first quarter of 2025, compared to 2.97% in the first quarter of 2024.
- The Company recorded a $670,000 provision for credit losses in the first quarter of 2025, compared to a $550,000 provision in the fourth quarter of 2024, and a $648,000 provision in the first quarter of 2024.
- Net loans increased 16.3% to $1.128 billion at March 31, 2025, compared to $969.7 million at March 31, 2024.
- Nonperforming loans totaled $420,000, or 0.04% of total loans at March 31, 2025, compared to 0.18% a year ago.
- Total deposits increased $190.7 million, or 18.9%, year-over-year, to $1.201 billion at March 31, 2025, compared to $1.010 billion at March 31, 2024.
- Core deposits (demand and non-interest-bearing, and savings and interest-bearing transaction accounts, and CDs under $250,000) represent 70.25% of total deposits at March 31, 2025.
- Total risk-based capital ratio estimates of 12.30%, Tier 1 ratio of 11.05%, and Leverage ratio of 9.35% for the Bank at March 31, 2025.
- Tangible book value per common share was $40.33 at March 31, 2025, compared to $39.05 a year ago.
Income Statement
In the first quarter of 2025, the Company generated a return on average assets of 0.79% and a return on average equity of 10.64%, compared to 0.58% and 7.34%, respectively, in the fourth quarter of 2024 and 0.18% and 2.52%, respectively, in the first quarter of 2024.
“Our strong loan growth and higher yields on interest earning assets contributed to the four basis point NIM expansion during the first quarter of 2025 compared to the prior quarter and the 42 basis point increase compared to the year ago quarter,” said Brant Ward, President. NIM was 3.39% in the first quarter of 2025, compared to 3.35% in the fourth quarter of 2024, and 2.97% in the first quarter of 2024.
Net interest income increased 32.0% to $10.6 million in the first quarter of 2025, compared to $8.0 million in the first quarter of 2024. The increase was primarily due to year-over-year loan growth. Total interest income increased 23.6% to $19.8 million in the first quarter of 2025, compared to $16.0 million in the first quarter of 2024, primarily attributable to increased loans. Total interest expense increased to $9.2 million in the first quarter of 2025, from $8.0 million in the first quarter of 2024, primarily due to an increase in deposit costs.
Noninterest income increased 22.7% to $1.9 million in the first quarter of 2025, compared to $1.6 million in the first quarter of 2024. The increase was primarily due to a $172,000 increase in wealth management fee income, the largest component of noninterest income, and a $72,000 increase in secondary market fee income during the first quarter of 2025.
Noninterest expense was $8.4 million in the first quarter of 2025, compared to $8.3 million in the first quarter of 2024, as expenses have normalized following the investment in expanding the Company’s market presence over the past few years.
Balance Sheet
Total assets increased 17.2% to $1.379 billion at March 31, 2025, from $1.177 billion at March 31, 2024, and increased 7.0% compared to $1.290 billion at December 31, 2024. Cash and cash equivalents totaled $48.4 million at March 31, 2025, compared to $33.4 million a year ago. Investment securities totaled $135.0 million at March 31, 2025, an increase from $113.0 million at March 31, 2024.
Loans, net of allowance for credit losses, increased 16.3% to $1.128 billion at March 31, 2025, compared to $969.7 million at March 31, 2024, and increased 6.0% compared to $1.064 billion at December 31, 2024.
Total deposits increased 18.9% to $1.201 billion at March 31, 2025, compared to $1.010 billion at March 31, 2024, and increased 9.9% compared to $1.093 billion at December 31, 2024. Demand and non-interest-bearing deposits decreased less than 1% compared to March 31, 2024 while savings and interest-bearing transaction accounts increased 34.7% compared to March 31, 2024.
FHLB advances were $21.6 million at March 31, 2025, compared to $36.9 million at March 31, 2024, and $43.7 million at December 31, 2024. Total stockholders’ equity increased to $100.5 million at March 31, 2025, compared to $79.4 million at March 31, 2024, and $96.6 million at December 31, 2024. Tangible book value per common share was $40.33 at March 31, 2025, compared to $39.05 at March 31, 2024, and $38.74 at December 31, 2024.
Credit Quality
Due to strong quarterly loan growth, the Company recorded a $670,000 provision for credit losses in the first quarter of 2025. This is compared to a $550,000 provision for credit losses in the fourth quarter of 2024, and a $648,000 provision for credit losses in the first quarter of 2024.
There were $420,000 in nonperforming loans at March 31, 2025. This compared to $55,000 in nonperforming loans at December 31, 2024, and $1.7 million in nonperforming loans at March 31, 2024. Nonperforming loans represented 0.04% of total loans on March 31, 2025, 0.01% of total loans on December 31, 2024, and 0.18% of total loans a year ago.
“We continue to take a prudent approach to building our allowance for credit losses by monitoring our portfolio mix and evaluating loan growth and local and national economic conditions to maintain what we believe to be an appropriate allowance,” said Jeff Maland, Chief Risk Officer. The allowance for credit losses was $13.3 million, or 1.17% of total loans, at March 31, 2025, compared to $12.8 million, or 1.19% of total loans, at December 31, 2024, and $12.1 million, or 1.23% of total loans, at March 31, 2024.
Net loan charge-offs were $137,000 in the first quarter of 2025. This compared to net loan recoveries of $106,000 in the fourth quarter of 2024, and net loan recoveries of $21,000 in the first quarter of 2024.
Capital
The Bank’s capital ratios continued to exceed regulatory “well-capitalized” requirements, with a Total risk-based capital ratio estimate of 12.30%, a Tier 1 ratio of 11.05%, and a Leverage ratio of 9.35% for the Bank at March 31, 2025.
About White River Bancshares Company
White River Bancshares Company is the single bank holding company for Signature Bank of Arkansas, headquartered in Fayetteville, Arkansas. The Bank has locations in Fayetteville, Springdale, Bentonville, Rogers, Brinkley, Harrison and Jonesboro, Arkansas. Founded in 2005, Signature Bank of Arkansas provides a full line of financial services to small businesses, families and farms. White River Bancshares Company (OTCQX: WRIV), trades on the OTCQX® Best Market.
White River Bancshares Company and Signature Bank of Arkansas will celebrate its 20-year anniversary in May 2025.
About the Region
White River Bancshares Company is headquartered in thriving Northwest Arkansas in the Fayetteville-Springdale-Rogers MSA. The region is home to the corporate headquarters for Walmart Stores Inc, Sam’s Club, Tyson Foods, Simmons Foods, and J.B. Hunt Transport. Hundreds of other market-leading companies including Procter & Gamble, Johnson & Johnson, Coca-Cola and Rubbermaid maintain offices in the region in order to maintain their relationships with the locally based Fortune 500 companies. Northwest Arkansas is also home to the state’s flagship public educational institution, The University of Arkansas, and its Sam M. Walton College of Business. The region has seen significant growth in its medical and arts infrastructures with the continued expansion of Washington Regional Medical System, Northwest Medical System, Mercy Health System of Northwest Arkansas and Arkansas Children’s Hospital Northwest. Crystal Bridges Museum of American Art and the Walton Arts Center have led the expansion of the arts. Northwest Arkansas has been repeatedly recognized in recent years as one of the best places to live in the country and remains one of the nation’s fastest-growing regions. In May 2024, Walmart issued a relocation mandate requiring most of its remote employees, as well as most of its office workers in Dallas, Atlanta and Toronto to move to, in most cases, Bentonville by November 1, 2024. While the company did not disclose a number, Bloomberg reported that the number of Walmart employees who would be moving to Bentonville would be in the thousands. Walmart is making a major investment in its hometown facilities, building a new, 350-acre headquarters campus, including walking and biking trails, a hotel, fitness facilities and a large childcare center.
The Company has expanded eastward, with new markets in Jonesboro and Harrison. Jonesboro, located in Craighead County, is a city located on Crowley’s Ridge in the northeastern corner of Arkansas. It is the home of Arkansas State University and the cultural and economic center of Northeast Arkansas. Jonesboro also houses the region’s hospital network. U.S. Steel Corp. announced that it would locate a new $3 billion steel factory in Northeast Arkansas in Osceola, a move expected to create 900 jobs with an average pay over $100,000 annually, making it the largest capital investment project in Arkansas history. Harrison sits below Branson, Missouri, which is a family tourist destination and outdoor recreation, and is well known as an entertainment destination.
The Company currently operates out of ten locations; three in Washington County; three in Benton County; two in Monroe County; one in Boone County; and one in Craighead County.
The housing market in Washington and Benton counties remains robust. According to the Northwest Arkansas Board of Realtors, the average home in Washington County sold for $390,000 in February 2025, with an average of 103 days on the market. For Benton County, the average house sold for $446,000, with an average of 108 days on the market.
Source:
http://www.nwarealtors.org/market-statistics/Forward Looking Statements
This press release contains statements about future events. These forward-looking statements, which are based on certain assumptions of management of the Company and the Bank and describe our future plans, strategies and expectations, can generally be identified by use of forward-looking terminology such as “may,” “will,” “believe,” “plan,” “expect,” “intend,” “anticipate,” “estimate,” “project,” or similar expressions or the negative of those terms. Our ability to predict results of future events and the actual effect of future plans or strategies are inherently uncertain, and actual results may differ materially from those predicted in such forward-looking statements. Factors that could have a material adverse effect on our operations and future prospects or that could affect the outcome of such forward-looking statements include, but are not limited to, changes in interest rates; the economic health of the local real estate market; general economic conditions; credit deterioration in our loan portfolio that would cause us to increase our allowance for loan losses; legislative or regulatory changes; technological developments; monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Federal Reserve Board; the quality or composition of our loan and securities portfolios; demand for loan products in our market areas; deposit flows and costs of capital; competition; retention and recruitment of qualified personnel; demand for financial services in our market areas; and changes in accounting principles, policies, and guidelines. These risks and uncertainties should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements. The Company does not undertake and specifically declines any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Contact: Scott Sandlin, Chief Strategy Officer 479-684-3754 WHITE RIVER BANCSHARES COMPANY CONSOLIDATED STATEMENTS OF INCOME (Unaudited) For the Three Months Ended March 31, December 31, March 31, 2025 2024 2024 INTEREST INCOME Loans, including fees $ 18,315,006 $ 17,118,955 $ 14,994,922 Investment securities 1,258,571 1,300,977 929,040 Federal funds sold and other 232,978 262,856 96,154 Total interest income 19,806,555 18,682,788 16,020,116 INTEREST EXPENSE Deposits 8,312,455 7,963,925 6,984,793 Federal Home Loan Bank advances 393,057 300,137 520,319 Notes payable 475,425 396,899 398,017 Federal funds purchased and other 13,022 4,101 78,260 Total interest expense 9,193,959 8,665,062 7,981,389 NET INTEREST INCOME 10,612,596 10,017,726 8,038,727 Provision for credit losses 670,000 550,000 648,000 NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 9,942,596 9,467,726 7,390,727 NON-INTEREST INCOME Service charges and fees on deposits 171,186 182,870 150,349 Wealth management fee income 1,017,829 1,035,160 845,506 Secondary market fee income 128,824 196,277 57,064 Bank owned-life insurance income 80,603 82,171 79,881 Gain on sales and write-downs of foreclosed assets – 11,085 1,050 Other 544,141 535,284 449,255 TOTAL NON-INTEREST INCOME 1,942,583 2,042,847 1,583,105 NON-INTEREST EXPENSE Salaries and benefits 4,931,692 5,226,075 4,999,533 Occupancy and equipment 1,145,101 1,130,174 928,124 Data processing 858,115 806,411 790,569 Marketing and business development 397,137 518,628 463,697 Professional services 650,708 660,860 669,867 Amortization of other intangible assets 53,036 53,032 53,036 Other 393,498 445,998 403,836 TOTAL NON-INTEREST EXPENSE 8,429,287 8,841,178 8,308,662 Income before income taxes 3,455,892 2,669,395 665,170 Income tax provision 826,085 834,444 155,942 NET INCOME $ 2,629,807 $ 1,834,951 $ 509,228 EARNINGS PER SHARE Basic (1) $ 1.07 $ 0.75 $ 0.26 Diluted (1) $ 1.07 $ 0.75 $ 0.26 (1) Prior periods adjusted to give effect to stock split effected
in the form of a dividend on September 4, 2024.WHITE RIVER BANCSHARES COMPANY CONSOLIDATED BALANCE SHEETS (Unaudited) March 31, 2025 December 31, 2024 March 31, 2024 ASSETS Cash and cash equivalents $ 48,360,156 $ 22,149,012 $ 33,147,221 Investment securities 134,968,153 133,228,210 113,033,028 Loans held for sale 874,009 1,117,750 696,271 Loans 1,141,369,199 1,076,674,377 981,829,042 Allowance for credit losses (13,347,855 ) (12,814,824 ) (12,113,099 ) Net loans 1,128,021,344 1,063,859,553 969,715,943 Premises and equipment, net 35,647,835 36,335,828 29,442,303 Foreclosed assets held for sale 310,406 310,406 640,574 Accrued interest receivable 6,629,881 6,035,084 4,966,665 Bank owned life insurance 9,859,911 9,779,307 9,534,373 Deferred income taxes 4,220,559 4,390,227 4,888,369 Other investments 6,782,614 8,421,651 7,548,338 Intangible assets, net 1,750,204 1,803,240 1,962,350 Other assets 1,825,830 2,080,346 1,323,255 TOTAL ASSETS $ 1,379,250,902 $ 1,289,510,614 $ 1,176,898,690 LIABILITIES & STOCKHOLDERS’ EQUITY Deposits: Demand and non-interest-bearing $ 231,331,391 $ 214,838,920 $ 233,082,292 Savings and interest-bearing transaction accounts 456,733,576 429,293,348 339,042,365 Time deposits 512,882,444 448,909,115 438,110,170 Total deposits 1,200,947,411 1,093,041,383 1,010,234,827 Federal Home Loan Bank advances 21,593,143 43,667,559 36,887,028 Notes payable 26,141,832 26,124,556 26,337,909 Operating lease liability 20,029,714 20,851,721 16,128,536 Reserve for losses on unfunded commitments 1,478,000 1,478,000 1,433,000 Accrued interest payable 2,731,699 2,838,298 2,635,771 Other liabilities 5,798,159 4,919,715 3,868,383 TOTAL LIABILITIES 1,278,719,958 1,192,921,232 1,097,525,454 Stockholders’ equity: Common stock (1) 24,882 24,854 20,162 Surplus (1) 102,784,831 102,679,096 90,538,459 Retained earnings (accumulated deficit) 4,714,375 2,084,568 (3,115,687 ) Treasury stock, at cost (1,265,731 ) (1,265,715 ) (1,119,100 ) Accumulated other comprehensive loss (5,727,413 ) (6,933,421 ) (6,950,598 ) TOTAL STOCKHOLDERS’ EQUITY 100,530,944 96,589,382 79,373,236 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 1,379,250,902 $ 1,289,510,614 $ 1,176,898,690 (1) Prior periods adjusted to give effect to stock split effected
in the form of a dividend on September 4, 2024.WHITE RIVER BANCSHARES COMPANY SUPPLEMENTAL INFORMATION (Unaudited) Three Months Ended March 31, December 31, March 31, 2025 2024 2024 FOR THE PERIOD Net income $ 2,629,807 $ 1,834,951 $ 509,228 Net income before taxes 3,455,892 2,669,395 665,170 Dividends declared per share (1) – – – PERIOD END BALANCE Total assets $ 1,379,250,902 $ 1,289,510,614 $ 1,176,898,690 Total investments 134,968,153 133,228,210 113,033,028 Total loans, net 1,128,021,344 1,063,859,553 969,715,943 Allowance for credit losses (13,347,855 ) (12,814,824 ) (12,113,099 ) Total deposits 1,200,947,411 1,093,041,383 1,010,234,827 Stockholders’ equity 100,530,944 96,589,382 79,373,236 RATIO ANALYSIS Return on average assets (annualized) 0.79 % 0.58 % 0.18 % Return on average equity (annualized) 10.64 % 7.34 % 2.52 % Net loans/Deposits 93.93 % 97.33 % 95.99 % Total Stockholders’ Equity/Total assets 7.29 % 7.49 % 6.74 % Net loan losses/Total loans 0.01 % -0.01 % -0.00 % Uninsured & unpledged deposits 31.00 % 31.78 % 30.22 % PER SHARE DATA Shares oustanding (1) 2,449,317 2,446,563 1,982,630 Weighted average shares outstanding (1) 2,446,747 2,446,241 1,983,378 Diluted weighted average shares outstanding (1) 2,451,161 2,446,471 1,983,378 Basic earnings (1) $ 1.07 $ 0.75 $ 0.26 Diluted earnings (1) 1.07 0.75 0.26 Book value (1) 41.04 39.48 40.03 Tangible book value (1) 40.33 38.74 39.05 ASSET QUALITY Net (recoveries) charge-offs $ 136,970 $ (106,340 ) $ (21,195 ) Classified assets 853,745 494,828 2,657,273 Nonperforming loans 419,985 55,132 1,718,805 Nonperforming assets 730,391 365,538 2,359,378 Total nonperforming loans/Total loans 0.04 % 0.01 % 0.18 % Total nonperforming loans/Total assets 0.03 % 0.00 % 0.15 % Total nonperforming assets/Total assets 0.05 % 0.03 % 0.20 % Allowance for credit losses/Total loans 1.17 % 1.19 % 1.23 % (1) Prior periods adjusted to give effect to stock split effected
in the form of a dividend on September 4, 2024.WHITE RIVER BANCSHARES COMPANY INTEREST INCOME AND EXPENSE (Unaudited) Three Months Ended March 31, December 31, March 31, 2025 2024 2024 Average Average Average Average Average Average Balance Interest Yield/Rate Balance Interest Yield/Rate Balance Interest Yield/Rate Interest-earning assets: Federal funds sold and other $ 23,287,989 $ 232,978 4.06 % $ 20,998,114 $ 262,856 4.98 % $ 8,343,674 $ 96,154 4.63 % Investment securities available-for-sale (1) 133,405,472 1,208,821 3.67 % 132,386,055 1,150,282 3.46 % 114,440,538 900,886 3.17 % Loans receivable 1,106,648,533 18,315,006 6.71 % 1,018,919,798 17,118,955 6.68 % 960,808,253 14,994,922 6.28 % Total interest-earning assets 1,263,341,994 $ 19,756,805 6.34 % 1,172,303,967 $ 18,532,093 6.29 % 1,083,592,465 $ 15,991,962 5.94 % Noninterest-earning assets 81,821,189 81,203,717 70,720,928 Total assets $ 1,345,163,183 $ 1,253,507,684 $ 1,154,313,393 Interest-bearing liabilities: Interest-bearing deposits $ 937,669,969 $ 8,312,455 3.60 % $ 847,808,178 $ 7,963,925 3.74 % $ 762,899,599 $ 6,984,793 3.68 % FHLB advances and federal funds purchased 36,654,930 406,079 4.49 % 28,097,088 304,238 4.31 % 50,749,219 598,579 4.74 % Notes payable 26,131,761 475,425 7.38 % 26,118,547 396,899 6.05 % 25,489,325 398,017 6.28 % Total interest-bearing liabilities 1,000,456,660 $ 9,193,959 3.73 % 902,023,813 $ 8,665,062 3.82 % 839,138,143 $ 7,981,389 3.83 % Noninterest-bearing liabilities 244,466,979 252,089,008 233,847,965 Total liabilities 1,244,923,639 1,154,112,821 1,072,986,108 Stockholders’ equity 100,239,544 99,394,863 81,327,285 Total liabilities and stockholders’ equity $ 1,345,163,183 $ 1,253,507,684 $ 1,154,313,393 Net interest-earning assets $ 262,885,334 $ 270,280,154 $ 244,454,322 Net interest spread $ 10,562,846 2.62 % $ 9,867,031 2.47 % $ 8,010,573 2.11 % Net interest margin 3.39 % 3.35 % 2.97 % (1) Excludes investments in bank stock (Federal Reserve Bank, Federal Home Loan Bank, and First National Bankers Bankshares). -
MIL-OSI: Roth Canada Opens Calgary Office, Bolsters Energy and Sustainability Practice with Senior Investment Banking and Research Hires
Source: GlobeNewswire (MIL-OSI)
TORONTO, April 15, 2025 (GLOBE NEWSWIRE) — via IBN — Roth Canada, Inc. (Roth Canada), the Canadian affiliate of Roth Capital Partners LLC, (collectively “ROTH”), announces today the expansion of its Energy and Sustainability teams with the addition of Tony Loria as Managing Director, Co-Head Investment Banking; Matt Halasz as Managing Director, Investment Banking; and Zain Sadek as Analyst, Investment Banking. In addition, Roth Canada has added Jamie Somerville and Christopher True as Managing Directors, Senior Research Analysts, to its Calgary office. These strategic additions reinforce our commitment to supporting Canadian growth equity companies with full-service investment banking capabilities, access to international investors, and providing institutional clients with research-driven ideas.
Ted Roth, Vice-Chairman of ROTH and CEO of Roth Canada, noted, “ROTH has a track record of over 30 years supporting growth-stage companies across many sectors and is a leading underwriter in the small and mid-cap space. Our Energy and Sustainability practices have been core to our business, supported not only by our banking, research, and sales capabilities in the United States, but also by our international distribution and leading corporate access activities. We are committed to leveraging this platform in support of Canadian issuers, investors, and stakeholders.”
Additions to Roth Canada’s Investment Banking:
Tony Loria has joined Roth Canada as Managing Director, Co-Head Investment Banking, bringing over 25 years of experience in the industry. Throughout his career, he has built and managed multiple banking franchises while advising a global client base on corporate finance, M&A, strategy, and innovation. Based in Calgary, Alberta, Tony specializes in the upstream small and mid-cap Energy sector and has led multiple investment banking franchises, including Genuity, Canaccord Genuity, Dundee Securities, and Eight Capital. At Eight Capital, he played a pivotal role in expanding the firm’s presence in the Sustainability and New Energy sectors, establishing it as a cornerstone asset.
Matt Halasz has joined Roth Canada as Managing Director, Investment Banking, bringing nearly 15 years of experience in the investment banking industry. Known for his leadership, strategic thinking, and financial expertise, Matt oversees key client relationships and leads complex financial transactions across the oil & gas, energy, and sustainability sectors. Before joining Roth Canada, he worked at several leading full-service, independent investment dealers, gaining a deep understanding of capital markets.
Zain Sadek has joined Roth Canada as Analyst, Investment Banking, bringing three years of experience in strategic and financial advisory services. Previously, he worked as an investment banker at a prominent independent Canadian investment bank, where he supported clients in the Energy and Sustainability sectors. Before that, Zain served as a management consultant at a leading global advisory firm.
Additions to Roth Canada’s Research Team:
Jamie Somerville has joined Roth Canada as Managing Director, Senior Research Analyst. Jamie has over 20 years of energy finance experience. He was most recently an equity research analyst at Eight Capital, and was previously at TD Securities from 2010-2015, and at Genuity Capital Markets from 2006-2010, where he was a Brendan Woods-ranked and StarMine award-winning analyst. He has also worked in executive and senior management positions for multiple publicly listed oil and gas companies.
Christopher True has joined Roth Canada as Managing Director, Senior Research Analyst. Christopher has 6 years of sell-side equity research experience covering energy stocks for Eight Capital and CIBC World Markets. Before that, Christopher worked in the acquisitions and growth group at a leading Canadian oil and gas royalty company. Christopher graduated from the University of Calgary with a Bachelor of Commerce from the Haskayne School of Business.
“It is with a great deal of excitement that we announce the opening of our Calgary office, and the addition of Tony, Matt, Zain, Jamie, and Christopher,” said Brady Fletcher, President of Roth Canada. “We launched in Canada to support Canadian companies providing strategic advisory and access to capital by leveraging ROTH. Having top talent like Tony and his team recognize that opportunity continues to demonstrate the demand for our platform, and access to a differentiated network of investors, in the Canadian market.”
About Roth Canada, Inc.
Roth Canada, Inc. is a Canadian CIRO-regulated Dealer Member focused on serving emerging Canadian growth companies and their investors. Roth Canada is headquartered in Toronto and maintains offices in Calgary and Vancouver. For more information on Roth Canada, please visit www.rothcanada.ca.
Investor Contact:
Roth Canada, Inc.
Brady Fletcher
President
bfletcher@rothcanada.caROTH – Member FINRA/SIPC – www.roth.com
Roth Canada – Member CIRO/CIPF – www.rothcanada.caMedia Contact:
IBN
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com -
MIL-OSI: Unlimited Expands ETF Lineup with New Global Macro Hedge Fund Strategy
Source: GlobeNewswire (MIL-OSI)
NEW YORK, April 15, 2025 (GLOBE NEWSWIRE) — Bob Elliott, CEO and CIO of Unlimited, today announced the launch of the Unlimited HFGM Global Macro ETF (NYSE: HFGM), a new actively managed exchange-traded fund offering exposure to global macro hedge fund style strategies. The Fund capitalizes on Mr. Elliott’s extensive experience as a systematic global macro portfolio manager by dynamically allocating capital long and short across a wide range of global markets opportunities in search of mispricing. The fund utilizes liquid exchange-listed futures contracts, and a basket of ETFs based upon systematic signals. The positions are adjusted based on evolving market conditions with the goal of adding diversification benefits to investors’ portfolios.
HFGM seeks to capitalize on global market mispricing opportunities spanning currency, fixed income, equity, credit and exchange rate markets. Global macro managers have a long track record of generating consistent alpha with low correlation to the broader equity and fixed income markets. HFGM deploys Unlimited’s proprietary, data-driven technology to interpret the current positioning of global macro managers and replicate those positions in its own portfolio.
The launch of HFGM expands on Unlimited’s mission to provide investors with access to hedge fund-style returns without the high fees and tax inefficiencies that can erode performance over time. Unlimited’s ETF offering includes the Unlimited HFND Multi-Strategy Return Tracker ETF (NYSE: HFND), which has a two-year track record of offering investors exposure to a broad set of hedge fund style strategies.
“Financial advisors and institutional investors facing turbulent markets are looking for ways to diversify their portfolios, but many find the high fees, lack of liquidity and adverse tax treatment associated with traditional alts offerings untenable,” said Mr. Elliott. “Our Global Macro ETF was designed to offer a volatility target aligned with equity markets as an investor-friendly way to add the diversification features of alts to a balanced portfolio.”
Hedge fund strategies overall have historically generated strong uncorrelated returns for investors, but high fees combined with inefficient tax structures have significantly eroded that performance.
HFGM offers a transparent, liquid, and cost-effective alternative to traditional hedge fund allocations, carrying a lower expense ratio than the standard “2 and 20” hedge fund fee model.
HFGM is the first of several new actively managed ETFs the firm plans to launch over the coming months. The suite includes two additional strategies that have been approved by the Securities and Exchange Commission with launch plans in the works for later this year, Unlimited HFMF Managed Futures ETF and Unlimited HFEQ Equity Long/Short ETF.
Unlimited’s ETFs are managed by Mr. Elliott, former investment committee member at Bridgewater Associates and Bruce McNevin, co-founder and Chief Data Scientist at Unlimited. Mr. McNevin brings extensive experience in quantitative modeling and data science, having held positions at hedge funds Clinton Group and Midway Group, as well as Bank of America and BlackRock.
For more information on HFGM or HFND, please visit https://www.unlimitedetfs.com
Media Contacts:
Sarah Lazarus Zach Kouwe Dukas Linden Public Relations Dukas Linden Public Relations +1 617-335-7823 +1 551-655-4032 sarah@dlpr.com zkouwe@dlpr.com Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus. A prospectus may be obtained by visiting www.unlimitedetfs.com. Please read the prospectus carefully before you invest.
Important Risks
Underlying ETFs Risks. The Fund will incur higher and duplicative expenses because it invests in Underlying ETFs. There is also the risk that the Fund may suffer losses due to the investment practices of the Underlying ETFs. The Fund will be subject to substantially the same risks as those associated with the direct ownership of securities held by the Underlying .ETFs.
Management Risk. The Fund is actively managed and may not meet its investment objective based on the Sub-Adviser’s success or failure to implement investment strategies for the Fund.
Machine Learning, Model and Data Risk. The Fund relies heavily on proprietary “machine learning” selection processes. In addition, the composition of the Fund’s portfolio is heavily dependent on proprietary quantitative models as well as information and data supplied by third parties (“Models and Data”).
Volatility Risk. The Fund seeks to achieve a higher level of volatility than its target hedge fund industry sector, which may result in substantial price fluctuations over short periods. As a result, the value of the Fund’s investments may rise or fall significantly, and investors should be prepared for increased levels of volatility compared to traditional equity funds.
Commodity Risk. Underlying ETFs that invest in the commodities markets may be subject to greater volatility than investments in traditional securities.
Derivatives Risk. The Fund’s or an Underlying ETF’s derivative investments have risks, including the imperfect correlation between the value of such instruments and the underlying assets or index; the loss of principal, including the potential loss of amounts greater than the initial amount invested in the derivative instrument; the possible default of the other party to the transaction; and illiquidity of the derivative investments.
Emerging Markets Risk. The Fund may invest in Underlying ETFs that invest in securities issued by companies domiciled or headquartered in emerging market nations. Investments in securities traded in developing or emerging markets, or that provide exposure to such securities or markets, can involve additional risks relating to political, economic, currency, or regulatory conditions not associated with investments in U.S. securities and investments in more developed international markets.
Fixed Income Securities Risk. The Fund may invest in Underlying ETFs that invest in fixed income securities. The prices of fixed income securities may be affected by changes in interest rates, the creditworthiness and financial strength of the issuer and other factors. An increase in prevailing interest rates typically causes the value of existing fixed income securities to fall and often has a greater impact on longer-duration and/or higher quality fixed income securities.
Foreign Securities Risk. Foreign securities held by Underlying ETFs in which the Fund invests involve certain risks not involved in domestic investments and may experience more rapid and extreme changes in value than investments in securities of U.S. companies.
Futures Contracts Risk. The Fund or Underlying ETFs may invest in futures contracts. Risks of futures contracts include: (i) an imperfect correlation between the value of the futures contract and the underlying asset; (ii) possible lack of a liquid secondary market; (iii) the inability to close a futures contract when desired; (iv) losses caused by unanticipated market movements, which may be unlimited; (v) an obligation for the Fund or an Underlying ETF, as applicable, to make daily cash payments to maintain its required margin, particularly at times when the Fund or Underlying ETF may have insufficient cash; and (vi) unfavorable execution prices from rapid selling.
New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.
Short Selling Risk. The Fund may make short sales of securities of Underlying ETFs, which involves selling a security it does not own in anticipation that the price of the security will decline. Short sales may involve substantial risk and leverage. Short sales expose the Fund to the risk that it will be required to buy (“cover”) the security sold short when the security has appreciated in value or is unavailable, thus resulting in a loss to the Fund. Short sales also involve the risk that losses may exceed the amount invested and may be unlimited.
Swap Agreement Risk. The Fund or an Underlying ETF may invest in swap agreements. Swap agreements could result in losses if the underlying asset or reference does not perform as anticipated. Swaps can have the potential for unlimited losses. They are also subject to counterparty risk. If the counterparty fails to meet its obligations, the Fund (or the Underlying Fund) may lose money.
Definitions:
20 and 2 strategy: Describes the standard fee structure charged by advisers of private funds, which generally includes a 2% asset-based management fee, in addition to a 20% performance fee charged on the profits on investments.
Distributed by Foreside Fund Services, LLC.
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MIL-OSI: JBTC Announces 1st Quarter 2025 Earnings
Source: GlobeNewswire (MIL-OSI)
JONESTOWN, Pa., April 15, 2025 (GLOBE NEWSWIRE) — JBT Bancorp, Inc. (OTCQX: JBTC) reported quarterly earnings of $1,687,000 or $0.69 per share for the first quarter of 2025 versus $1,307,000 or $0.54 per share in the prior year. President Troy A. Peters stated: “Focusing on net interest income and non-interest income sources drove our results in the first quarter. Net interest income after credit loss expense increased by 7.87% over the same period in the prior year and non-interest income increased by 13.13% led by debit card interchange. Interchange income was positively affected by increased transaction volume and amounts.”
More information can be found at OTC Markets at www.otcmarkets.com/stock/JBTC/overview.
Contact: Andrea Shetterly, EAA
ashetterly@jbt.bank
Jonestown Bank & Trust Co.
2 West Market Street
Jonestown, PA 17038-0717
Phone: 717-865-4246
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MIL-OSI: CURRENC Group Inc. Appoints Wan Lung Eng as Chief Financial Officer
Source: GlobeNewswire (MIL-OSI)
SINGAPORE, April 15, 2025 (GLOBE NEWSWIRE) — CURRENC Group Inc. (Nasdaq: CURR) (“CURRENC” or the “Company”), a fintech pioneer empowering financial institutions worldwide with artificial intelligence (AI) solutions, today announced that Mr. Wan Lung Eng will join the Company as Chief Financial Officer, effective April 16, 2025.
Mr. Eng’s diverse career spans over 20 years as a finance and accounting executive, investment banker, and private equity professional. He has served as CFO at VitalCheck Wellness, Teclison, and Spectral MD, and as SVP and CFO at Immersive Artistry. Earlier in his career, Mr. Eng was an investment banker and private equity professional with RBC Capital Markets, Macquarie Group, Deutsche Bank Securities, Wachovia Securities (now Wells Fargo Securities) and CIAS International (Temasek Holdings-owned private investment firm). Mr. Eng executed public and private financings and M&A transactions in the U.S., Europe and Asia of over US$50 billion in aggregate value. With expertise across corporate finance, mergers and acquisitions, capital markets, principal investments, and corporate development, Mr. Eng is exceptionally well-suited to drive CURRENC’s financial strategy and growth initiatives. He holds an MBA from Duke University’s Fuqua School of Business in the U.S. and a Bachelor of Accountancy from Nanyang Technological University in Singapore.
“We are excited to welcome Wan Lung Eng to our executive team,” said Alex Kong, Founder and Executive Chairman of CURRENC. “His proven track record and deep expertise will be pivotal in accelerating our growth and advancing our AI initiatives in building global AI ecosystem for financial institutions. We’re confident Wan Lung’s leadership will enhance our financial discipline and help propel CURRENC to new heights in the global fintech landscape.”
Ronnie Hui, Chief Executive Officer of CURRENC, added, “Wan Lung’s appointment reflects our commitment to excellence and innovation. His broad industry experience will be invaluable as we continue to consolidate our position as a leader in digital remittance and AI-powered financial solutions. We look forward to the fresh insights he will bring to our ongoing transformation.”
About CURRENC Group Inc.
CURRENC Group Inc. (Nasdaq: CURR) is a fintech pioneer dedicated to transforming global financial services through artificial intelligence (AI). The Company empowers financial institutions worldwide with comprehensive AI solutions, including SEAMLESS AI Call Centre and other AI-powered Agents designed to reduce costs, increase efficiency and boost customer satisfaction for banks, insurance, telecommunications companies, government agencies and other financial institutions. The Company’s digital remittance platform also enables e-wallets, remittance companies, and corporations to provide real-time, 24/7 global payment services, advancing financial access across underserved communities.Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.Investor & Media Contact
CURRENC Group Investor Relations
Email: investors@currencgroup.com -
MIL-OSI: Atrato Onsite Energy announces new £250m asset backed security warehouse (ABS warehouse) to finance solar photovoltaic systems in the UK
Source: GlobeNewswire (MIL-OSI)
LONDON, April 15, 2025 (GLOBE NEWSWIRE) — Atrato Onsite Energy, the UK C&I solar specialist owned by Brookfield Renewables and Real Assets Investment Management Ltd announces it has entered into an ABS warehouse to support its investment into C&I solar projects in the UK. Atrato Onsite Energy focuses on providing long-term, low-cost energy to UK corporates and is targeting £1bn of investment in solar by 2030.
Since launching in November 2021, Atrato Onsite Energy has developed a portfolio of more than 240MW of solar assets which generate clean energy that would otherwise have resulted in 50,000 tonnes of annual CO2 emissions, equivalent to planting 2,000,000 trees.(1) Since being acquired in November 2024, Atrato Onsite Energy has signed 10 power purchase agreements and reached financial close on 42MW of projects.
The ABS warehouse was financed by Barclays Bank PLC and will be used to accelerate Atrato’s roll out of rooftop and ground mounted solar to customers. The transaction involved Norton Rose Fulbright as legal adviser to Atrato Onsite Energy and Hogan Lovells as legal adviser to Barclays.
Gurpreet Gujral, CEO of Atrato Onsite Energy said
“We have developed a strong portfolio of solar projects, working with customers such as Amazon, Britvic, Nissan, and Tesco. With unprecedented demand for our solar solutions, this new facility provides us with an additional £250 million of capacity, on top of the capital support from our investors. This enables us to tap into our pipeline and brings us closer to our goal of becoming the largest provider of C&I solar in Europe.”
Gordon Beck, Head of Corporate & Sustainable Securitisation EMEA of Barclays Bank PLC said
“We are proud to support Atrato Onsite Energy with this landmark financing, demonstrating our commitment to enabling corporates to transition to cleaner sources of energy whilst fostering sustainable economic growth in our UK home market. Barclays is committed to supporting clients with their transition and has a target to facilitate $1trn of Sustainable and Transition Finance by 2030 to support the delivery of such activities.”
About Atrato Onsite Energy
Atrato Onsite Energy is an independent power producer launched in November 2021 and is one of the largest commercial and industrial solar companies in the UK.
In November 2024 leading infrastructure investors, Brookfield Renewables and Real Assets Investment Management Ltd, acquired the company and subsequently de-listed it from the London Stock Exchange. The company continues its strategy to develop and invest in renewable energy infrastructure, delivering clean energy to commercial and industrial customers.
(1) Full year generation on fully operational portfolio
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MIL-OSI Economics: Bank of America’s multifaceted advertising strategy emphasizes financial empowerment, digital convenience, and business support, reveals GlobalData
Source: GlobalData
Bank of America’s multifaceted advertising strategy emphasizes financial empowerment, digital convenience, and business support, reveals GlobalData
Posted in Business Fundamentals
Bank of America’s YouTube ad campaigns from the last six months (October 2024 to March 2025), strategically allocated resources to enhance financial literacy, digital banking experiences, and entrepreneurial growth. By leveraging educational platforms, streamlined mobile applications, and bespoke business solutions, Bank of America’s approach reflects an intent to function as a significant contributor to financial empowerment across a diverse customer base, according to Global Ads Platform of GlobalData, a leading data and analytics company.
Sagar Kishor, Ads Analyst at GlobalData, comments: “Bank of America’s advertising demonstrates a deliberate effort to balance transactional efficiency with knowledge dissemination, showcasing efficient digital services (mobile transfers, online banking) alongside educational initiatives like “Better Money Habits.” The campaigns feature direct, functional demonstrations of these digital tools with platforms designed to increase financial literacy. This dual approach, using both practical instruction and educational content, aims for the bank to be seen as a source of immediate solutions and sustained financial growth.”
GlobalData’s Global Ads Platform reveals the key focus areas of Bank of America’s advertisements below:
Convenient Mobile Banking: Bank of America’s mobile banking emphasizes convenience and ease of use through its app, offering features like quick money transfers between accounts and integrated services like Zelle for peer-to-peer payments. These features target existing customers, tech-savvy individuals, and busy professionals, highlighting the app’s user-friendliness, efficiency, and seamless integration for managing finances on the go and facilitating quick, free transactions with contacts.
Centralized Business Finance: Bank of America’s Connected Apps offer a centralized online dashboard for businesses to manage finances, track key metrics, and integrate third-party services. Targeting small business owners and financial decision-makers, the ads highlight efficiency, growth enablement, and enhanced financial control through this streamlined platform.
Rewards and Personalized Service: The Preferred Rewards program is showcased as a tiered benefits system for existing customers, offering enhanced rewards, relationship bonuses, and personalized service. The advertisements highlight the program’s ability to maximize financial potential and reward customer loyalty, designed for current clients, affluent individuals, and those pursuing financial advancement.
Financial Education and Empowerment: Bank of America’s Better Money Habits platform is promoted as a free resource, empowering individuals to take control of their finances through knowledge and personalized guidance on budgeting, saving, investing, and managing debt. The ads highlight empowerment, support, and opportunity, aimed at those seeking to improve their economic independence.
Community Support and Inclusion: The ‘Business Owner Spotlight’ campaign showcases Bank of America’s backing of diverse communities, particularly Hispanic entrepreneurs. This initiative illustrates the bank’s dedication to inclusivity and community development, highlighting the bank’s provision of support for underrepresented business owners.
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MIL-OSI Economics: US card payments market growth to slow in 2025 amid tariffs and inflationary pressures, forecasts GlobalData
Source: GlobalData
US card payments market growth to slow in 2025 amid tariffs and inflationary pressures, forecasts GlobalData
Posted in Banking
The US card payments market is projected to grow by a modest 2.4% in 2025, reaching $10.8 trillion, as economic uncertainty and rising tariffs weigh on consumer spending. While strong foundations like high card penetration and contactless adoption persist, inflationary pressures and trade disruptions are expected to challenge the market’s resilience and slow its previously robust growth trajectory, according to GlobalData, a leading data and analytics company.
GlobalData’s report, “United States (US) Cards and Payments: Opportunities and Risks to 2028,” reveals that the card payment value in the US registered a growth of 6% in 2023, driven by the rise in consumer spending. The value registered an estimated growth of 5% in 2024 to reach $10.6 trillion. However, the latest tariffs can pose a challenge for the overall economic growth, while rising inflation is expected to curb consumer spending, resulting in a slowdown in the overall card payments value.
The US card payments market is highly mature, and arguably even over-served by its financial institutions with high card penetration and usage. Ready access to formal financial services has resulted in a population that is very comfortable using debit, credit, and charge cards for payments.
Ongoing investments in payment infrastructure, increasing contactless payment adoption, and e-commerce growth have accelerated expansion in the US card payment market. Contactless cards have driven low-value daily transactions, further bolstered by the COVID-19 pandemic. However, economic uncertainty fueled by Trump’s tariffs now threatens to slow this momentum, creating headwinds for sustained growth in the sector.
Ravi Sharma, Lead Banking and Payments Analyst at GlobalData, comments: “Economic forecasts for many markets, including the US, were seen as positive until the beginning of the year due to expected economic recovery and reduced inflation. However, the current situation is now considered uncertain once again. The trade wars have already disrupted financial markets and caused businesses to face uncertainty, potentially leading to weakened economic growth.”
While tariffs pose challenges for all players in the economy, the main impact on the card payments will be via inflation, and depressing retail activity. As a result, both payment volumes and average transaction values will see slowdown, ultimately hurting the revenues of card issuers, payment processors, networks, and acquirers, including any business segments involved in the value chain.
Furthermore, tariffs on imports and supply chain disruptions from China and other markets may also increase costs of payment terminals and hardware components, which may impact small businesses accepting card payments.
Sharma concludes: “Looking ahead, the transition to electronic payments is expected to continue over the next five years due to the growing number of electronic payments. However, ongoing economic uncertainty will continue to present challenges for the industry. The card payments value is expected to register a compound annual growth rate (CAGR) of 4.1% between 2024 and 2029 to reach $12.9 trillion.”
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MIL-OSI Economics: Goldman Sachs and PwC top M&A financial advisers in Europe in Q1 2025, reveals GlobalData
Source: GlobalData
Goldman Sachs and PwC top M&A financial advisers in Europe in Q1 2025, reveals GlobalData
Posted in Business Fundamentals
Goldman Sachs and PwC were the top mergers and acquisitions (M&A) financial advisers in Europe during the first quarter (Q1) of 2025 by value and volume, respectively, according to the latest financial advisers league table by GlobalData, a leading data and analytics company.
GlobalData’s Deals Database has revealed that Goldman Sachs achieved its leading position in terms of value by advising on $17.6 billion worth of deals. Meanwhile, PwC led in terms of volume by advising on a total of 29 deals.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “PwC registered improvement in the total number of deals advised by it during Q1 2025 compared to Q1 2024. Resultantly, it went ahead from occupying the fourth position by volume in Q1 2024 to top the chart by this metric in Q1 2025.
“Meanwhile, Goldman Sachs, which was the top adviser by value in Q1 2024, also managed to retain its leadership position by this metric in Q1 2025 as well. Despite a fall in the total value of deals advised by it in Q1 2025 compared to Q1 2024, Goldman Sachs stayed much ahead of its peers. During Q1 2025, it advised on five billion-dollar deals*. Involvement in these big-ticket deals helped Goldman Sachs secure the top spot by value. Apart from leading in terms of value, it also occupied the seventh position by volume in Q1 2025.”
An analysis of GlobalData’s Deals Database reveals that Jefferies occupied the second position in terms of value, by advising on $12.4 billion worth of deals, followed by Bank of America with $11.1 billion, Barclays with $7.9 billion, and Lazard with $7.2 billion.
Meanwhile, Clearwater occupied the second position in terms of volume with 21 deals, followed by Ernst & Young with 20 deals, Deloitte with 18 deals, and Rothschild & Co with 17 deals.
*Valued more than or equal to $1 billion
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MIL-OSI Video: Experts Explain: What are the long-term economic trends to watch?
Source: World Economic Forum (video statements)
What’s really driving the world economy? In our latest episode of Experts Explain, we explore the long-term economic trends shaping our future — from shifting trade dynamics and the rise of AI to the global impact of ageing populations.
While news moves fast, long-term economic trends take months, even years to emerge. To find out what major issues will shape the world’s economic future, we sat down with 5 Chief Economists:
– Rima Bhatia, Group Economic Advisor, Gulf International Bank
– Ralph Ossa, Chief Economist, World Trade Organization
– Nela Richardson, Chief Economist and ESG Officer, ADP Research Institute
– Tomas Castagnino – Managing Director of Economic Research, Accenture Research
– Paul Gruenwald – Global Chief Economist at S&P Global RatingsThe World Economic Forum’s Chief Economists community discusses global economic trends and developments and publishes their Outlook three times per year. Read more here: http://wef.ch/chiefeconomists
The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.
World Economic Forum Website ► http://www.weforum.org/
Facebook ► / worldeconomicforum
YouTube ► / wef
Instagram ► / worldeconomicforum
X ► / wef
LinkedIn ► / world-economic-forum
TikTok ► / worldeconomicforum
Flipboard ► https://flipboard.com/@WEF#WorldEconomicForum
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MIL-OSI Video: RBNZ Speech and Q&A session on RBNZ forecasting with Chief Economist Paul Conway
Source: Reserve Bank of New Zealand (video statements)
www.rbnz.govt.nz/kiwi-gdp
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MIL-OSI Africa: Afreximbank delivered exceptional 2024 financial performance, cementing its position as a systemic pan-African trade finance institution
Source: Africa Press Organisation – English (2) – Report:
CAIRO, Egypt, April 15, 2025/APO Group/ —
African Export-Import Bank (“Afreximbank” or the “Group”) (www.Afreximbank.com) has released the consolidated financial statements of the Bank and its subsidiaries, for the year ended 31 December 2024.
Financial Highlights
Afreximbank reported strong financial performance despite a complex global economic landscape marked by geopolitical tensions, inflationary pressures, and elevated interest rate, posting a net income of US$973.5 million for FY 2024, a 29% increase from the previous year – with subsidiaries beginning to make meaningful contributions to the Group’s financial results.
These impressive results highlight Afreximbank’s resilience, systemic relevance and its commitment to delivering on its mandate and the objectives set under its Sixth Strategic Plan. The Group’s total income increased by 23% to reach US$3.3 billion, driven by growth in business volumes and supported by higher market interest rates. As a result, net interest income for FY2024 amounted to US$1.8 billion, a 25% increase compared to FY2023, reflecting the effective and efficient management of borrowing costs.
Despite rising operating expenses, Cost-to-Income ratio improved to 18% in FY 2024, down from 19% in the previous year – demonstrating enhanced operational efficiency. This was achieved even as total operating expenses rose by 21% to US$367.7 million (FY2023: US$304.5 million), primarily due to global inflationary pressures and increased investment in human capital to support expanded business activities.
Group’s total assets, including contingencies, grew by 7.55%, reaching US$40.1 billion as of 31 December 2024, compared to US$37.3 billion at the close of FY’2023. The growth was largely driven by increases in net loans and advances to customers, guarantees and letters of credit, as well as investments at fair value, property and equipment.
The carrying value of property and equipment increased by 33%, rising from US$328.1 million to US$436.4 million, primarily driven by the accelerated construction of the state-of-the-art Afreximbank African Trade Centre (AATC) facilities in Abuja, Nigeria, and Harare, Zimbabwe.
The Group’s Shareholders’ funds grew by 17% in 2024, reaching US$7.2 billion (FY’2023: US$6.1 billion). This growth was largely driven by the Net income of US$973.5 million generated in 2024 which contributed to the increase in equity, while FY’2023 dividends of US$314.5 million were appropriated following the Shareholders’ approval in June 2024. Additionally, the successful capital-raising efforts under the second general capital increase (GCI II) programme, which secured fresh equity contributions totalling US$412.8 million during the year also contributed to the increase in Group shareholders’s funds.
The Bank’s callable capital, a significant proportion of which was credit enhanced as part of the Bank’s Capital Management Strategy, amounted to US$4.3 billion as at 31 December 2024 (FY’2023: US$3.7 billion).
Operating Highlights
In 2024, Afreximbank was ranked number one in all three categories in the Bloomberg Capital Markets League Tables Report for African Capital Markets. The Bank was the top Sub-Saharan Africa bookrunner, administrative agent and mandated lead arranger. These rankings affirm the Bank’s role as a market leader in facilitating capital from within and outside of the continent from a diverse range of investors and stakeholders for financing needs for African member states and organizations.
Afreximbank continued to expand its membership, further deepening its continental and diaspora reach. Libya’s accession to the Establishment Agreement brought the number of African member states to 53 by year-end, and just weeks later, Somalia became the 54th participating state. On the Caribbean front, membership momentum remained strong, with 12 of the 15 CARICOM countries having signed the Bank’s Participating Agreement, paving way for Afreximbank to expand its operations into the region.
The Bank’s subsidiaries also delivered a robust growth and made a significant impact throughout the year. The Fund for Export Development (FEDA), the equity investment subsidiary of the Bank, expanded its impact portfolio to over US$0.5 billion, targeting key sectors such as industrial platforms, financial services, agribusiness, and healthcare. AfrexInsure, the Bank’s specialty insurance subsidiary, successfully deployed its solutions to an expanding customer base across multiple sectors and geographies. By year-end, AfrexInsure had completed transactions in seventeen countries, up from seven the previous year, covering US$3.54 billion in assets. Notably, AfrexInsure was able to place 97% of its premiums with pan-African players, in line with its mandate to keep premiums on the continent.
The Pan African Payment and Settlement System (PAPSS) continued its upward trajectory in 2024, with 3 additional Central Banks and 50 commercial banks joining the platform, bringing the total number of Central Banks to 16 and commercial banks to 144. In addition, PAPSS launched the African Currency Marketplace (PACM) in 2024, which successfully handled 12 currencies during its pilot phase and becoming a useful platform for large corporates encountering difficulties in repatriating funds across the continent. Work is also progressing towar the launch of the PAPSS card, further enhancing the platform’s capacity to facilitate seamless financial transactions across the continent.
In the last quarter of 2024, the Bank priced its debut Samurai bond, securing a regular 5 tranche JPY 67.2 billion. Concurrently, the Bank launched its inaugural Retail Samurai bond with a 3-year fixed-rated tranche valued at JPY 14.1 billion. The bonds are rated ‘A-’ by Japan Credit Rating Agency, Ltd and helped with diversifying the Bank’s funding sources.
The fundraising opportunities were further validated by the AAA/Stable rating awarded to the Bank by China Chengxin International Credit Rating Co., Ltd (CCXI), the highest rating ever granted to an African multilateral financial institution. This prestigious rating not only affirms the Bank’s developmental impact and operational strength but also enhances our ability to diversify funding sources and strengthen our partnership with China, Africa’s largest trading partner.
Afreximbank, in collaboration with the African Union and the AfCFTA Secretariat, and the Government of the People’s Democratic Republic of Algeria will hold the Intra-African Trade Fair 2025 (IATF2025) in Algiers, Algeria, from 4-10 September 2025. The event, the largest of its kind in Africa, champions the cause of changing the socio-economic landscape of Africa by devising progressive initiatives aimed at promoting intra-African trade, continental integration and a platform for bringing the AfCFTA vision to life.
Mr. Denys Denya, Afreximbank’s Senior Executive Vice President, commented:
“In a challenging and rapidly evolving global geopolitical and economic environment, the Group delivered robust financial performance, exceeding expectations and outperforming prior years. This achievement highlights management’s commitment to executing the 6th Strategic Plan, ensuring operational efficiency, and enhancing value. The Bank’s strong financial position is underpinned by solid liquidity, a well-capitalized balance sheet, and a high-quality asset portfolio. Management remains confident in the Group’s ability to navigate ongoing economic headwinds and sustain growth trajectory. Strategic initiatives to mitigate risks and optimize operations have reinforced the foundation for long-term success. Looking ahead, global economic conditions are expected to remain volatile, with inflationary pressures, tighter financial conditions, and geopolitical uncertainties posing potential risks. The Bank will continue to play its role as a systemically relevant institution, balancing growth, liquidity, profitability, and risk management while pursuing sustainable expansion.”
Highlights of the results for the Group and Bank are shown below:
Financial Metrics
FY-2024
FY-2023
Gross Income (US$ billion)
3.3
2.6
Operating Income (US$ billion)
2.0
1.6
Net Income (US$ million)
973.5
756.1
Total Assets (US$ billion)
35.3
33.5
Total Liabilities (US$ billion)
28.1
27.3
Shareholders’ Funds (US$ billion)
7.2
6.1
Net asset value per share
US$69,270
US$63,683
Financial Metrics
FY-2024
FY-2023
Profitability
Return on average assets (ROAA)
Return on average equity (ROAE)
2.96%
15.31%
2.56%
13.31%
Operating Efficiency
Net interest spread
Cost-to-income ratio
4.07%
18.35%
4.09%
19.09%
Asset Quality
Non-performing loans ratio (NPL)
2.33%
2.47%
Liquidity and capital adequacy
Cash/Total assets
Capital Adequacy ratio (Basel II)
13.18%
24%
16.80%
25%
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MIL-OSI Africa: Newmont Africa’s Managing Director to Speak at Mining in Motion Conference
Source: Africa Press Organisation – English (2) – Report:
ACCRA, Ghana, April 15, 2025/APO Group/ —
Abdul Raman, Managing Director, Newmont Africa will participate at the upcoming Mining in Motion Conference, taking place on 2 – 4 June, 2025 in Accra, Ghana.
Raman will join key players driving the growth of Ghana’s mining sector in a panel session titled Environmental Impact of Mining and Rehabilitation Impacts, highlighting Newmont Africa’s commitment to sustainable mining practices in Ghana, Africa’s largest gold producer.
Representing Ghana’s leading gold producer, Raman’s participation at the inaugural Mining in Motion Conference will be instrumental in showcasing Newmont Africa’s investment strategy as Ghana leverages gold mining to drive GDP growth. Under Raman’s leadership, Newmont Africa’s Ahafo South Gold Mine has maintained its position as Ghana’s Best Company in the Extractive Sector, ranking top in the Ghana Investment Promotion Center’s Ghana Club 100 Awards in 2024.
In addition to Ahafo South, Newmont Africa operates Ghana’s third-largest gold mine, Akyem, which produces 422,000 ounces of gold per year. Newmont Africa is also spearheading industry growth through expansion projects, including the Akyem Underground and Layback Expansion, which will extend the Akyem mine’s lifespan beyond 2030. The company is also advancing the Ahafo North Project, expected to commence commercial production in the second half of 2025, with an annual output of up to 325,000 ounces of gold.
Amidst these development, Mining in Motion represents an ideal platform for Raman to connect with Ghana’s regulatory authorities, key industry players and global partners to explore new opportunities within Ghana’s gold value chain.
Mining in Motion is organized by the Ashanti Green Initiative, in collaboration with the World Bank, the World Gold Council, and other international partners. Held under the theme Sustainable Mining & Local Growth – Leveraging Resources for Global Impact, the event will bring together key decision-makers, including H.E. John Dramani Mahama, President of Ghana, as well as representatives from the African Union, ECOWAS, and the United Nations, to shape the future of mining in Ghana.
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MIL-OSI Africa: One Month to Invest in African Energy (IAE) 2025: Africa’s Energy Licensing Surge to Take Center Stage
Source: Africa Press Organisation – English (2) – Report:
PARIS, France, April 15, 2025/APO Group/ —
With just one month to go to the Invest in African Energy (IAE) 2025 forum, the event is shaping up to be a milestone moment for upstream investment on the continent. IAE 2025 will spotlight Africa’s resurgence in exploration activity – with over 150 oil and gas blocks on offer across more than 10 countries on the continent. Backed by national oil companies (NOCs), regulators and government ministries, the forum stands to connect international capital and energy opportunities to investors and developers.
Africa’s 2025 licensing calendar is one of the most active in recent years, with countries across North, West, Central and East Africa opening acreage and reforming terms to attract global explorers. Dozens of offshore and onshore blocks are being offered through both direct negotiations and competitive bidding, with new rounds in Libya, the Republic of Congo, Liberia, Sierra Leone, Algeria and Angola, among others. A central focus of the upcoming forum, these offerings are supported by revised fiscal frameworks, comprehensive seismic data and digitalized platforms aimed at streamlining investor engagement and lowering entry barriers.
IAE 2025 (https://apo-opa.co/4jrAKig) is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.
The IAE 2025 program will feature dedicated sessions that highlight new opportunities, policy reforms and strategic deals. An Energy Reform Briefing on Sierra Leone will explore the structural changes aimed at enhancing the country’s competitiveness in upstream oil and gas. A high-profile session from the newly established South African National Petroleum Company (SANPC) will offer insight into the entity’s vision, followed by a live investor pitch. An “In Conversation” dialogue with TotalEnergies will explore the major’s evolving investment priorities in Africa and its role in the continent’s energy transition. Meanwhile, the Premier Invest Deal Room will showcase six major upstream transactions, providing a curated environment for qualified investors, lenders and project sponsors to engage in due diligence and financing discussions.
IAE 2025 will welcome government officials, companies and financiers. Confirmed ministers include the Republic of Congo’s Minister of Hydrocarbons, Bruno Jean-Richard Itoua; Nigeria’s Minister of State for Petroleum Resources (Gas), Eperikpe Ekpo; Gabon’s Minister of Petroleum, Marcel Abéké; Mauritania’s Minister of Petroleum and Energy, Mohamed Ould Khaled; Senegal’s Minister of Energy, Oil and Mines, Birame Soulèye Diop; Guinea-Bissau’s Minister of Energy, Malam Sambu; and Liberia’s Minister of Mines and Energy, Wilmot Paye.
Industry participation ranges from leading majors such as TotalEnergies, Eni and Perenco, to NOCs including SNPC, SANPC, Gabon Oil Company and Uganda National Petroleum Company. Junior explorers and independents like Afentra, Trident Energy, Oando, UTM Offshore and EcoAtlantic will also join the conversation, alongside key players in technology and finance such as Technip Energies, NOV, SLB, Wärtsilä, Africa Finance Corporation, Rand Merchant Bank and the Trade and Development Bank. Together, leaders from both public and private sectors will engage in high-level discussions on topics ranging from financing the next generation of energy projects, to optimizing value from mature and mid-life assets, as well as transforming power generation across the continent.
As global investors seek scalable growth opportunities and secure supply options, Africa is presenting a compelling case for upstream development and gas-led industrialization. With one month to go, IAE 2025 offers a timely and focused opportunity to engage with the people, projects and policies shaping the next chapter of African energy.
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MIL-OSI United Kingdom: Opportunity to operate Markeaton Park catering facilities
Source: City of Derby
Derby City Council is inviting expressions of interest from experienced and imaginative operators to manage the catering facilities at the popular Markeaton Park. The opportunity includes the operation of The Orangery café and the kiosk located at the Mundy Play Centre.
In November, Derby City Council’s Cabinet approved plans to outsource the management of its leisure facilities, and the Markeaton Park catering provision is the first phase of this process. The move is intended to provide financial savings while maintaining a high level of service for customers.
The Council is conducting a non-committal Expression of Interest (EOI) exercise and encourages anyone interested in operating either the Orangery or Mundy Play Centre kiosk – or both – to get in touch. Responses from both businesses and community groups are welcome.
The Orangery café is a Grade-II Listed building situated at the heart of Markeaton Park, overlooking the picturesque terrace gardens. The Orangery is part of the 18th-century stable yard, now a vibrant craft village with various workshops and businesses selling handmade goods, gifts, and activities.
The kiosk is located within the central Mundy Play Centre, serving the pay-to-play and free play provisions in this popular section of the park.
Councillor Ndukwe Onuoha, Derby City Council Cabinet Member for Streetpride, Public Safety and Leisure, said:
This is a fantastic opportunity for the right operator, or operators, to become a key part of the vibrant offering at Markeaton Park.
We encourage interested parties to come forward with ideas that will complement the park’s existing attractions and meet the needs of our residents and visitors.
The Council would like the new operators to offer a quality café and kiosk service that fits the needs of the local community and park users, as well as attracting new visitors.
Successful operators will need to maintain a consistent presence within the park, keeping to minimum opening times. This includes opening for the Orangery for a minimum of five hours per day, seven days a week, throughout the year (including Bank Holidays). The kiosk should be open for at least four hours a day on Saturdays, Sundays, and school holidays from April through to October.
The Expression of Interest responses received will be used to help determine the next steps for the facilities. Those interested in this opportunity are invited to register their interest by completing the online form. The deadline for submitting Expressions of Interest is midday on Tuesday 6 May 2025.
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MIL-OSI Russia: Financial news: How to disclose deposit rates in remote channels: recommendations from the Bank of Russia and the FAS
Translartion. Region: Russians Fedetion –
Source: Central Bank of Russia –
Credit institutions should eliminate visual techniques when posting information about deposits in remote channels, and also refrain from automatically placing marks for the consumer. This is stated ininformation letter The Bank of Russia and the Federal Antimonopoly Service (FAS).
According to the Bank of Russia and the FAS, the use of graphical techniques and focusing on indicators that are more attractive to the consumer (for example, profitability, effective rate) can mislead a person regarding the terms of the deposit.
If the bank specifies the maximum possible interest rate on the deposit, then next to this information it is necessary to list the conditions under which the client will receive the promised yield, and also to indicate the minimum guaranteed rate. Moreover, without using graphic techniques (obvious differences in background, color and font size). If the bank uses the same name for several types of deposits, then the minimum guaranteed rate must be calculated for each of them separately.
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