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Category: Banking

  • MIL-OSI: Canadian Net Reit Announces Renewal of Normal Course Issuer Bid

    Source: GlobeNewswire (MIL-OSI)

    MONTRÉAL, July 17, 2025 (GLOBE NEWSWIRE) — Canadian Net Real Estate Investment Trust (“Canadian Net” or the “REIT”) (TSX-V: NET.UN) is pleased to announce that it has received approval from the TSX Venture Exchange (“TSX”) for the annual renewal of its normal course issuer bid (“NCIB”).

    For its current NCIB that expires on July 31, 2025, the Trust previously sought and received approval from the TSX to repurchase up to 1,028,053 units of Canadian Net (the “Units”). The Trust did not purchase any Units over the course of this NCIB.

    Under the renewed NCIB, Canadian Net may purchase for cancellation, through the facilities of TSX Venture Exchange, other designated exchanges and/or alternative Canadian trading systems, if in the best interest of the Trust, a maximum of 1,029,881 Units, which represents approximately 5% of the units in circulation. As of today, the Trust has 20,597,637 Units issued and outstanding. Over the course of any 30-day period, the Trust will not purchase more than 411,952 Units in total, which represents 2% of the Units issued and outstanding at this present date.

    All purchases and settlements of said securities are to be made through the facilities of TSX Venture Exchange, other designated exchanges and/or alternative Canadian trading systems in accordance with their rules and regulations. All units redeemed by the Trust pursuant to the NCIB will be cancelled. National Bank Financial will be handling the offer on behalf of the Trust. The price paid by the Trust for the redemption of these units will be the price of the units at the time of acquisition. The renewed normal course issuer bid will begin on August 1, 2025 and will expire on July 31, 2026.

    The Board of Trustees of Canadian Net believes that the purchase of units through the NCIB represents a valuable use of the financial resources of the Trust as these interventions can protect as well as enhance value for our unitholders when opportunities arise or in the event of volatility in the unit price.

    About Canadian Net – Canadian Net Real Estate Investment Trust is an open-ended trust that acquires and owns high-quality triple net and management-free commercial real estate properties.

    Forward-Looking Statements – This press release contains forward-looking statements and information as defined by applicable securities laws. Canadian Net warns the reader that actual events may differ materially from current expectations due to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such statements. Among these include the risks related to economic conditions, the risks associated with the local real estate market, the dependence to the financial condition of tenants, the uncertainties related to real estate activities, the changes in interest rates, the availability of financing in the form of debt or equity, the effects related to the adoption of new standards, as well as other risks and factors described from time to time in the documents filed by Canadian Net with securities regulators, including the management report. Canadian Net does not intend or undertake to update or modify its forward-looking statements even if future events occur or for any other reason, unless required by law or any regulatory authority.

    Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the Policy of the TSX Venture Exchange) accepts any responsibility for the adequacy or accuracy of this release.

    For further information please contact Kevin Henley at (450) 536-5328.

    The MIL Network –

  • MIL-OSI Africa: African Development Bank Approves $17 Million to Rebuild Conflict-Affected Northern Mozambique

    Source: APO – Report:

    The Board of Directors of the African Development Bank (www.AfDB.org) has approved a $17 million grant to support recovery and resilient-building efforts in conflict-affected northern Mozambique’s Cabo Delgado province.

    The funding will support the Resilient Investment for Socio-Economic Empowerment, Peace, and Security (RISE-PS) Project, a bold new initiative to tackle the root causes of fragility through targeted economic empowerment. It will directly create 24,000 jobs, with 60% of opportunities earmarked for young people aged 18 to 35, and 50% reserved for women. Cumulatively, over 100,000 people are expected to benefit from the initiative.

    Since 2017, violent extremist attacks in Cabo Delgado have killed at least 4,500 people and displaced more than one million. Approximately 4,965 small businesses have been destroyed, leaving communities without livelihoods. Youth unemployment currently stands at 25% in the province, with 35% of young women neither employed nor enrolled in education or training.

    “This is about more than economic recovery – it’s about giving young people a reason to believe in their future,” said Babatunde Omilola, Manager for Human Capital, Youth and Skill Development at the African Development Bank’s Regional Office for Southern Africa. “The project emphasizes  youth as peacebuilding agents, unlocking their potential through skills development, entrepreneurship, and decent work opportunities to drive economic stabilization efforts.”

    A cornerstone of the RISE-PS project is the creation of a Peace and Security Investment Hub, coordinated by Mozambique’s Northern Integrated Development Agency (ADIN).

    “This hub will coordinate development work across the region and create investment opportunities for both public and private partners,” said Macmillan Anyanwu, the Bank’s Acting Country Manager for Mozambique. “By including local communities in planning and implementing projects — such as letting them choose which infrastructure gets rebuilt — we ensure development truly serves those who need it most.”

    Comprehensive Support for Vulnerable Populations

    • Rehabilitation of 150 community facilities, including 30 schools, 45 youth centers, 14 health posts, 10 rural markets, and 33 water systems — providing immediate employment for 4,500 vulnerable youth and women
    • Training for over 9,200 individuals in market-oriented vocational skills, with 2,000 women and youth-led enterprises receiving grants to restart destroyed businesses, and 5,400 local micro-enterprises equipped to expand or consolidate operations.
    • Construction of a climate-smart SME village in the Afungi Industrial Hub, designed to accommodate 100 small and medium enterprises with modern facilities, including warehouses, workshops, and business incubation centers
    • Private sector partnerships, including TotalEnergies and ExxonMobil, to provide 1,055 youth with 6-month internships, targeting 70% permanent job placement

    The total value of the project stands at $28 million, including the African Development Bank’s $17 million grant through its Transition Support Facility, $4.2 million from the United Nations Development Programme (UNDP), $2.4 million from Germany, $3.1 million in parallel financing from private sector partners, and $1.3 million counterpart contribution from the Government of Mozambique.

    MozParks, the national developer of sustainable economic zones, will lead the SME village construction, drawing on 23 years of experience that has attracted $4 billion in investments and created over 12,000 jobs nationwide.

    The project’s conflict-sensitive design specifically targets the drivers of violent extremism. Research shows that 40% of young men join rebel movements due to a lack of economic opportunities. At the same time, women face additional vulnerabilities, including limited education and high rates of gender-based violence.

    Implementation begins on 1 September 2025, under the leadership of the Government, with UNDP as the implementing partner. The project will run until August 2029.

    ADIN will serve as the executing agency, with enhanced institutional support to strengthen its coordination role across northern Mozambique, which is home to 11.6 million people.

    Recent security improvements, and a reduction in the number of internally displaced persons from over one million to 635,000 present an opportunity for sustained development investments and renewed investor confidence.

    The RISE-PS project aligns with Mozambique’s National Development Strategy (2025-2044) and the African Union’s Agenda 2063, contributing to Sustainable Development Goals (SDG 1 – No Poverty;  SDG 4 – Quality Education;  SDG 5 – Gender Equality; SDG 8 – Decent Work and Economic Growth).

    It also aligns with the African Development Bank’s Strategy for Addressing Fragility and Building Resilience (2022-2026), the Bank’s Country Strategy Paper 2023-2028 for Mozambique, its Ten-Year Strategy 2024-2033, and many other strategies or action plans on jobs, gender, skills, private sector development and nutrition. In particular, the Bank’s Jobs for Youth in Africa strategy 2016-2025 aims to create 25 million jobs and positively impact 50 million African youth by 2025.

    – on behalf of African Development Bank Group (AfDB).

    Media contact:
    Emeka Anuforo
    Communication and External Relations Department
    media@afdb.org

    About the African Development Bank Group:
    The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

    Media files

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    MIL OSI Africa –

  • MIL-OSI Banking: Inclusion of “NSDL Payments Bank Limited” in the Second Schedule of the Reserve Bank of India Act, 1934

    Source: Reserve Bank of India

    RBI/2025-26/67
    DoR.RET.REC.40/12.07.160/2025-26

    July 17, 2025

    All Banks,

    Madam / Sir,

    Inclusion of “NSDL Payments Bank Limited” in the Second Schedule of the Reserve Bank of India Act, 1934

    It is advised that “NSDL Payments Bank Limited” has been included in the Second Schedule of the Reserve Bank of India Act, 1934 vide Notification DoR.LIC.No.S2196/16.13.215/2025-26 dated June 19, 2025 and published in the Gazette of India (Part III – Section 4) dated July 10, 2025.

    Yours faithfully,

    (Manoranjan Padhy)
    Chief General Manager

    MIL OSI Global Banks –

  • Sensex, Nifty decline as IT and banking stocks drag

    Source: Government of India

    Source: Government of India (4)

    India’s benchmark indices ended lower on Thursday, weighed down by selling in information technology and banking stocks amid weak Q1 earnings and concerns over foreign institutional investor (FII) outflows linked to global trade uncertainties.

    The BSE Sensex closed at 82,259.24, down 375.24 points or 0.45 percent, while the NSE Nifty slipped 100.60 points or 0.40 percent to settle at 25,111.45.

    “Indian equity benchmarks ended marginally lower as investors exercised caution amid subdued Q1 earnings announcements, particularly in the technology and banking sectors,” said Vinod Nair, Head of Research at Geojit Financial Services.

    He added that elevated valuations in large-cap stocks and FII outflows continued to dampen sentiment, though any positive catalysts could quickly revive momentum.

    Among the biggest losers on the Sensex were Tech Mahindra, HCL Tech, Infosys, Eternal, TCS, Axis Bank, Bajaj Finserv, and HDFC. Tata Steel, Trent, Tata Motors, and Titan managed to end in positive territory.

    From the Nifty 50, 19 stocks advanced while 31 declined.

    Broader indices mirrored the weakness. The Nifty Next 50 dropped 159.10 points, the Nifty Midcap 100 lost 100 points, and the Nifty Smallcap 100 closed 22.75 points lower.

    Sectorally, the losses were broad-based. The Nifty IT index plunged 522 points, while Nifty Bank and Nifty Financial Services fell 230 points and 106 points, respectively. However, Nifty FMCG defied the broader trend and closed higher.

    The rupee weakened by 0.12 percent to 86.02 against the U.S. dollar, pressured by capital market weakness and a firm dollar index, which held near 98.70.

    “Nifty remained mostly under selling pressure throughout the day as the index failed to move beyond the crucial resistance level of 25,260, leading to long unwinding. On the hourly chart, a consolidation breakout is visible, indicating weakening bullish momentum,” said Rupak De from LKP Securities.

    (With inputs from IANS)

  • MIL-OSI Asia-Pac: InvestHK promotes Hong Kong’s business and supply chain management advantages at China International Supply Chain Expo (with photos)

    Source: Hong Kong Government special administrative region – 4

    Associate Director-General of Investment Promotion at Invest Hong Kong (InvestHK) Ms Loretta Lee attended the China International Supply Chain Expo (CISCE) in Beijing today (July 17). There, Ms Lee delivered remarks at the Thematic Event on Supply Chain Service to promote Hong Kong’s business advantages and opportunities to Mainland and overseas companies and media representatives, encouraging enterprises to leverage Hong Kong’s unique position as an international financial, shipping, and trade hub to establish their multinational supply chain management expertise.

    Organised by the China Council for the Promotion of International Trade (CCPIT), the CISCE is the world’s first national-level expo focused on supply chains. InvestHK has joined the CISCE for two consecutive years and delivered speeches on Thematic Event on Supply Chain Service and Thematic Event on Advanced Manufacturing topics this year.

    The Thematic Event on Supply Chain Service topic focuses on upgrading the industrial supply chain and explores new global collaboration efforts. In her remarks, Ms Lee promoted Hong Kong’s unique advantages under the “one country, two systems” framework and the city’s role as a gateway connecting Mainland China and global markets under the national dual circulation strategy. She said, “Hong Kong as a ‘super connector’ and a ‘super value-adder’ can help Mainland enterprises better cope with the international market and balance the stability and flexibility of the supply chain. The city has rich experience in supply chain management. From infrastructure, professional service talent, international supplier networks to government policy support, Hong Kong can fully meet enterprises’ needs in different stages of business operation such as procurement, trade, and logistics. As a leading international financial centre, Hong Kong boasts a vibrant and diverse capital market. In the first half of this year, Hong Kong led the world in initial public offering fundraising, making it the ideal destination for corporate financing. I encourage Mainland enterprises to establish corporate treasury centres in Hong Kong to facilitate global expansion.”

    CCPIT Vice Chairman Mr Chen Jian’an also delivered a speech at the event.

    On the same day, the Head of Transport, Logistics and Industrials at InvestHK, Mr Benjamin Wong, joined a thematic forum at the Thematic Event on Advanced Manufacturing, sharing insights on the innovation-driven development through green and low-carbon technologies. He noted that the demand for green and low-carbon solutions in industries is currently experiencing a growth momentum. The Hong Kong Special Administrative Region Government has been supporting the development of the local innovation and technology sector through various measures, including enhanced research and development support, expanded funding channels, and strengthened collaboration among academia, industry, and the Government, with the aim of accelerating Hong Kong’s transformation into a green tech hub. To further enhance green and sustainable economic development, InvestHK has established a dedicated sustainability team, which actively attracts overseas and Mainland enterprises with leading technologies and solutions in carbon neutrality to establish or expand their operations in Hong Kong.

    Following the CISCE, InvestHK will host a roundtable on July 18 to further discuss Hong Kong’s role as a multinational supply chain management centre, and conduct in-depth discussions and exchanges with representatives of Beijing-based companies interested in expanding their business in Hong Kong. Ms Lee will deliver welcome remarks, encouraging Beijing companies to use Hong Kong as their multinational supply chain management centre. In the sharing session, Mr Wong and the Managing Director of Li & Fung Development (China) Ltd, Mr Chang Ka-mun, will discuss the latest environment and trends of global trade and supply chains, and how Hong Kong can help Mainland and overseas enterprises build global supply chain management expertise. Experts from PricewaterhouseCoopers and China Merchants Bank will also share insights at the event on Hong Kong’s tax benefits and financial services for Mainland enterprises looking to expand internationally.

    During the visit, the InvestHK delegation will meet with various enterprises to provide the latest updates on Hong Kong’s latest policies and opportunities, thereby assisting them to leverage Hong Kong’s advantages to expand overseas.

    To download event photos, please visit: www.flickr.com/photos/investhk/albums/72177720327606368.

    MIL OSI Asia Pacific News –

  • MIL-OSI: Stock Yards Bancorp Awarded Raymond James Community Bankers Cup

    Source: GlobeNewswire (MIL-OSI)

    LOUISVILLE, Ky., July 17, 2025 (GLOBE NEWSWIRE) — Stock Yards Bancorp, Inc. (NASDAQ: SYBT), parent company of Stock Yards Bank & Trust Company, with offices in Louisville, central, eastern and northern Kentucky, as well as the Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets, today announced that it is has been awarded the prestigious Raymond James Community Bankers Cup for its performance in 2024.

    The award recognizes the top 10% of community banks based on various profitability, operational efficiency, and balance sheet metrics. The pool of banks considered for recognition includes all exchange-traded domestic banks, excluding mutual holding companies, with assets between $500 million and $10 billion as of December 31, 2024.

    “We were honored to once again be awarded the 2024 Raymond James Community Bankers Cup. This achievement highlights not only Stock Yards’ strong performance but also our continued commitment to delivering exceptional service to the communities we proudly serve.”

    Stock Yards Bancorp has been awarded the Raymond James Community Bankers Cup a total of 10 times.

    Louisville, Kentucky-based Stock Yards Bancorp, Inc., with $9.00 billion in assets, was incorporated in 1988 as a bank holding company. It is the parent company of Stock Yards Bank & Trust Company, which was established in 1904. The Company’s common shares trade on The NASDAQ Stock Market under the symbol “SYBT.”

    Contact: T. Clay Stinnett
    Executive Vice President,
    Treasurer and Chief Financial Officer
    (502) 625-0890

     

    The MIL Network –

  • MIL-OSI Africa: Benin Can Mobilize More Domestic Resources to Drive Inclusive Growth and Equity

    Source: APO


    .

    More inclusive growth path, taxation and spending adapted to vulnerable populations could further accelerate efforts to reduce poverty and inequality, notes the latest edition of the Benin Economic Outlook report.

    The first part of the report, Raising Domestic Revenue Mobilization while Protecting the Poor, analyzes recent economic developments and presents the country’s medium-term prospects. In 2024, Benin’s economic growth reached 7.5%, its highest level since 1990, thanks to the strong performance of the services and industrial sectors. Poverty fell by 2.2 percentage points, from 33.2% in 2023 to 31% in 2024.

    Continued fiscal consolidation helped achieve the West African Economic Monetary Union –WAEMU– fiscal deficit target of 3% in 2024 and reduce the debt, thereby helping to improve the country’s debt profile. Benin is on the verge of integrating into global value chains with the development of the Glo-Djigbé industrial zone (GDIZ). Despite heightened global trade uncertainties and volatile trade relations with neighboring countries, economic growth is projected to average 7.1% over 2025-2027. The dynamism of economic activity added to the moderation in inflation should support a decline in poverty to 22.3% in 2027.

    “Continued efforts to mobilize domestic resources and a rebalancing of the composition of debt in favor of domestic debt, in line with medium-term revenue mobilization and debt strategies, should enable Benin to maintain its macroeconomic stability, which is critical for attracting private investment and supporting the ongoing economic transformation.” says Mamadou Tanou Baldé, World Bank Economist and Lead author of the report.

    The second part of the report focuses on domestic revenue mobilization while protecting the poor. The simplification of tax policy and the digitization of tax collection processes have improved the quality of services and secured revenue collection. Revenue mobilization in Benin has steadily increased since 2016 and has demonstrated resilience in the face of various shocks, including border closures with some neighboring countries, the COVID-19 pandemic, the rising cost of living in 2022, and insecurity. Tax revenue, the main driver of revenue growth, increased from 9.2% of GDP in 2016 to 13.2% in 2024, an increase of 4% over the period. Despite this progress, the gap with its peers remains and Benin needs to increase domestic revenue mobilization to finance its development plan. While Benin’s fiscal system reduces inequality by 3 Gini points, an improvement in the fiscal system, including a mix of more targeted taxes and transfers, could lift more than 100,000 people out of poverty each year while continuing to mobilize more resources.

    “To improve the situation, Benin should strengthen social safety nets, implement more progressive taxation and increase social spending more targeted at the poorest to improve the redistributive impact of its fiscal policies,” adds Arthur Alik-Lagrange, World Bank Lead Economist and co-author of the report.

    Distributed by APO Group on behalf of The World Bank Group.

    MIL OSI Africa –

  • MIL-OSI Africa: African Development Bank and Partners Launch a $263.8 Million Infrastructure Project to Transform Urban Development in Abia State

    Source: APO

    The African Development Bank (www.AfDB.org), in partnership with the Islamic Development Bank, Nigeria’s Federal Government and the Abia State, has launched the Abia State Integrated Infrastructure Development Project, a transformative $263.8 million initiative to modernize urban infrastructure, enhance mobility, and promote inclusive, climate-resilient development over the next five years.

    The project addresses critical infrastructure gaps in urban transport, erosion control and waste management which have long constrained mobility, public health and economic productivity in the cities of Umuahia and Aba in Abia State.

    The African Development Bank is contributing $115 million to the project, including $100 million from its ADB window and $15 million from the Canada-AfDB Climate Fund (CACF). The Islamic Development Bank is co-financing with $125 million, while the Federal Government of Nigeria is providing $23.8 million in counterpart funding.

    The project will rehabilitate more than 248 kilometers of roads in the cities of Umuahia and Aba, restore two erosion sites, and catalyze private sector investment in solid waste management through public-private partnerships.

    Abia State, like many rapidly growing regions, has faced mounting infrastructure challenges driven by urban expansion, environmental pressures and limited investment over time. Cities such as Umuahia and Aba are contending with aging roads, erosion threats, and strained waste systems. This project signals a decisive shift toward integrated, climate-resilient urban development that supports inclusive growth and long-term sustainability.

    Speaking at the launch, Dr. Alex C. Otti, Governor of Abia State, said the initiative marked a defining moment in the State’s infrastructure renewal agenda: “The fruits of development are richer when supported by partners who believe in your vision. We are focused on raising living standards, expanding access to education and healthcare, and driving economic productivity. Investor confidence is growing, public optimism is rising, and Abia is emerging as a destination of choice for opportunity and impact.”

    The project is expected to generate over 3,000 temporary jobs during the construction phase, with 30 percent reserved for women, and approximately 1,000 permanent jobs during the operational phase. A key feature of the project is its focus on youth employment and skills development: 50 percent of the permanent roles will go to young people, who will be trained through the State Youth Road Maintenance Corps—a cadre of local engineers drawn from all 17 Local Government Areas of Abia State.

    Dr. Akande Oyebola, Assistant Director at the International Economic Relations Department of the Federal Ministry of Finance, reaffirmed the Government’s support: “This initiative represents a significant milestone in our collective effort to drive economic growth, strengthen infrastructure, and improve the quality of life for the people of Abia State.”

    Dr. Abdul Kamara, Director General of the African Development Bank’s Nigeria Country Department, commended the leadership of the federal and state governments. “This project is rooted in partnership, ambition and long-term impact,” he said.  “At its core, this project is about lives, it is about reducing travel time by half, increasing incomes, improving access to schools and hospitals, and creating space for entrepreneurs, particularly women and youth, to thrive.”

    Beyond the physical infrastructure, the project incorporates comprehensive social and environmental safeguards. These include training for women and youth entrepreneurs, resettlement support, HIV/AIDS and STI awareness campaigns, and strengthened systems for procurement and financial management.

    Otumchere Oti, Abia State Commissioner for Works, reaffirmed the State’s commitment to accountable delivery.

    “Today we reassure all stakeholders, our development partners, contractors, communities, and government institutions, that implementation will be guided by diligence, transparency, and accountability. Our monitoring mechanisms are robust, and our resolve is strong. This is a defining moment for Abia State, and we shall rise to it with determination and unity,” he said.

    The African Development Bank will provide technical support, capacity building, and close implementation supervision through its Nigeria Country Department and sector teams.

    The launch of the Abia State Integrated Infrastructure Development Project marks a key milestone in the Bank’s commitment to advancing Nigeria’s development priorities through inclusive, sustainable infrastructure investment.

    Distributed by APO Group on behalf of African Development Bank Group (AfDB).

    Contact:
    Nkiruka Henrietta Ugoh
    Nigeria Country Department
    media@afdb.org

    About the African Development Bank Group:
    The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

    Media files

    .

    MIL OSI Africa –

  • MIL-OSI Russia: Materials for the Government meeting on July 17, 2025.

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – Government of the Russian Federation –

    An important disclaimer is at the bottom of this article.

    The following issues are planned to be considered at the meeting:

    1. On the allocation of budgetary allocations to the Ministry of Industry and Trade of Russia in 2025 from the reserve fund of the Government of the Russian Federation for the provision of one-time financial assistance in the form of a subsidy from the federal budget to the budget of the Republic of Tatarstan

    The draft order is aimed at providing financial support for the implementation of the investment project “Complex for the production of large-tonnage LNG compressor units” in the single-industry town of Zelenodolsk.

    2. On the allocation of budgetary allocations to Rosaviatsia in 2025 from the reserve fund of the Government of the Russian Federation for the purpose of providing subsidies from the federal budget to Russian airports

    The draft order is aimed at partial reimbursement of expenses for ordinary activities and interest on credit agreements or loan agreements during the period of introduction of the temporary flight restriction regime to airports in the southern and central parts of Russia for December 2024 – June 2025.

    3. On the allocation of budgetary allocations to the Ministry of Transport of Russia in 2025 from the reserve fund of the Government of the Russian Federation within the framework of the state program of the Russian Federation “Development of the transport system”

    The funds are needed to implement the project “Construction of the Bagaevsky hydroelectric complex on the Don River. Objects of the 2nd stage (main period).”

    4. On the allocation of budgetary appropriations to the Ministry of Construction of Russia in 2025 from the reserve fund of the Government of the Russian Federation for the purpose of providing another inter-budget transfer from the federal budget to the budget of the Orenburg Region

    The draft order is aimed at reimbursing the regional budget for the costs incurred in financial support for the implementation of social support measures for citizens whose residential premises were lost and/or damaged as a result of the emergency caused by the spring floods of 2024.

    5. On the allocation of budgetary appropriations to the Ministry of Construction of Russia in 2025 from the reserve fund of the Government of the Russian Federation for the provision of a subsidy from the federal budget within the framework of the federal project “Assistance to the development of infrastructure of the constituent entities of the Russian Federation (municipalities)” to the budget of the Saratov region for the purpose of implementing the project “Bank protection of the Volgograd reservoir on the section from the first berth to the solarium “Zaton” city of Saratov (stages 2, 3)”

    The adoption of the draft order will ensure the creation of a full-fledged coastal protection belt and the use of the embankment as a center of public and cultural activity in Saratov.

    6. On the allocation of budgetary appropriations from the reserve fund of the Government of the Russian Federation to the Ministry of Economic Development of Russia in 2025

    The draft order is aimed at providing the Federal Corporation for the Development of Small and Medium-Sized Entrepreneurship joint-stock company with a subsidy from the federal budget for the implementation of projects aimed at developing special economic zones and single-industry municipalities of the Russian Federation (single-industry towns).

    Moscow, July 16, 2025

    The content of the press releases of the Department of Press Service and References is a presentation of materials submitted by federal executive bodies for discussion at a meeting of the Government of the Russian Federation.

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

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: The Bank of Russia has clarified the criteria for obtaining the status of a qualified investor

    Translation. Region: Russian Federal

    Source: Central Bank of Russia –

    An important disclaimer is at the bottom of this article.

    The income level has been specified as an independent criterion for obtaining the status of a qualified investor: it must be at least 12 million rubles per year over the past 2 years. In combination with other criteria – complicated testing, education or an academic degree – the requirement is reduced to 6 million rubles. Income from the sale of real estate will not be taken into account. Such parameters are defined inindication Bank of Russia, which was registered by the Ministry of Justice.

    According to the educational criterion, instead of the current requirement for higher economic education, a list of specialties and areas of training is established, including in combination with the income or property criterion. Thus, a person can become a qualified investor if he received an education in the specialty “Accounting, Analysis and Audit” or “Taxes and Taxation” and his average annual income is 6 million rubles. International certificates, which are already used as requirements for investment advisers, have been added to the list of certificates taken into account when recognizing an investor as qualified.

    The parameters of the property criterion have not changed: now the minimum amount of assets that a person must own is 12 million rubles, and from January 1, 2026, it will increase to 24 million rubles. But in combination with other criteria, the requirements will be 2 times less – 6 million and 12 million rubles, respectively.

    The regulation will come into force on July 28, 2025.

    Preview photo: Vitalii Vodolazskyi / Shutterstock / Fotodom

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

    MIL OSI Russia News –

  • MIL-OSI Russia: Government meeting (2025, No. 24).

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – Government of the Russian Federation –

    An important disclaimer is at the bottom of this article.

    1. On the allocation of budgetary allocations to the Ministry of Industry and Trade of Russia in 2025 from the reserve fund of the Government of the Russian Federation for the provision of one-time financial assistance in the form of a subsidy from the federal budget to the budget of the Republic of Tatarstan

    The draft order is aimed at providing financial support for the implementation of the investment project “Complex for the production of large-tonnage LNG compressor units” in the single-industry town of Zelenodolsk.

    2. On the allocation of budgetary allocations to Rosaviatsia in 2025 from the reserve fund of the Government of the Russian Federation for the purpose of providing subsidies from the federal budget to Russian airports

    The draft order is aimed at partial reimbursement of expenses for ordinary activities and interest on credit agreements or loan agreements during the period of introduction of the temporary flight restriction regime to airports in the southern and central parts of Russia for December 2024 – June 2025.

    3. On the allocation of budgetary allocations to the Ministry of Transport of Russia in 2025 from the reserve fund of the Government of the Russian Federation within the framework of the state program of the Russian Federation “Development of the transport system”

    The funds are needed to implement the project “Construction of the Bagaevsky hydroelectric complex on the Don River. Objects of the 2nd stage (main period).”

    4. On the allocation of budgetary appropriations to the Ministry of Construction of Russia in 2025 from the reserve fund of the Government of the Russian Federation for the purpose of providing another inter-budget transfer from the federal budget to the budget of the Orenburg Region

    The draft order is aimed at reimbursing the regional budget for the costs incurred in financial support for the implementation of social support measures for citizens whose residential premises were lost and/or damaged as a result of the emergency caused by the spring floods of 2024.

    5. On the allocation of budgetary appropriations to the Ministry of Construction of Russia in 2025 from the reserve fund of the Government of the Russian Federation for the provision of a subsidy from the federal budget within the framework of the federal project “Assistance to the development of infrastructure of the constituent entities of the Russian Federation (municipalities)” to the budget of the Saratov region for the purpose of implementing the project “Bank protection of the Volgograd reservoir on the section from the first berth to the solarium “Zaton” city of Saratov (stages 2, 3)”

    The adoption of the draft order will ensure the creation of a full-fledged coastal protection belt and the use of the embankment as a center of public and cultural activity in Saratov.

    6. On the allocation of budgetary appropriations from the reserve fund of the Government of the Russian Federation to the Ministry of Economic Development of Russia in 2025

    The draft order is aimed at providing the Federal Corporation for the Development of Small and Medium-Sized Entrepreneurship joint-stock company with a subsidy from the federal budget for the implementation of projects aimed at developing special economic zones and single-industry municipalities of the Russian Federation (single-industry towns).

    Moscow, July 16, 2025

    The content of the press releases of the Department of Press Service and References is a presentation of materials submitted by federal executive bodies for discussion at a meeting of the Government of the Russian Federation.

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

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: The Bank of Russia is improving approaches to calculating standards.

    Translation. Region: Russian Federal

    Source: Central Bank of Russia –

    An important disclaimer is at the bottom of this article.

    From August 18, 2025, banks will begin calculating capital adequacy standards according to new instructions from the Bank of Russia No. 220-I And No. 221-I.

    The new rules imply the transition of all banks with a universal license to a finalized (more risk-sensitive) approach to calculating capital adequacy standards. The standard approach will be retained for banks with a basic license and non-bank credit institutions.

    Other important changes include:

    — the criteria for classifying borrowers as investment grade have been improved (in particular, a condition has been added for having a credit rating of at least “A”), to which a reduced risk weight is applied;

    — differentiated risk weights have been introduced for loans to subjects and municipalities of Russia depending on the level of credit rating from Russian rating agencies, and in its absence, on the level of debt sustainability as assessed by the Ministry of Finance of Russia (in the future, it is planned to completely switch to credit ratings);

    — risk weights for mortgage loans at the construction stage are equal to those used for mortgages on completed housing, and those, in turn, are calibrated based on default statistics;

    — when calculating macroprudential premiums, a single multiplicative approach will be applied both for banks using approaches to risk assessment based on internal ratings and for other banks;

    — further important steps have been taken to address the problem of credit concentration: firstly, under repo transactions the risk will be considered to be on the issuer of securities accepted as collateral if the borrower’s rating is below “AA”; secondly, banks will be able to transfer the concentration risk from the borrower to a reliable guarantor/surety/issuer of securities accepted as collateral.

    The changes will help to more accurately assess risks, will help to level the playing field for competition, and will also support balanced growth in lending to the economy.

    To make it easier for banks to adapt to the new regulations, some of the innovations will only apply to new loans, that is, those issued after August 18, 2025.

    Preview photo: focal point / Shutterstock / Fotodom

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

    MIL OSI Russia News –

  • MIL-OSI Europe: Smart factories and a cleaner future

    Source: European Investment Bank

    Learnica is part of LTH Castings Group, a Slovenian company that is one of the leading European suppliers to the automotive industry, with clients such as Mercedes-Benz, Bosch, BMW and Continental. Learnica and other companies in the Western Balkans are preparing for new EU fees on carbon emissions, known as the Carbon Border Adjustment Mechanism, which will start in 2026.

    The mechanism is a new tool that puts a carbon price on goods imported into the European Union. The EU goal is to be be carbon neutral by 2050. North Macedonia is not part of the European Union, but its products are used in EU goods and will count toward this new carbon fee. EU firms must track and report emissions that are created by their products inside and outside the European Union. As of January 2026, EU manufacturers will need to purchase certificates to cover these emissions.

    “Achieving carbon neutrality is one of our core strategic goals,” Jovčevska says. “We have embedded this objective into every investment and improvement made in our production processes over the past ten years.”

    Learnica is located in Ohrid, a city known for its rich cultural heritage. The town sits on the edge of Lake Ohrid, one of Europe’s deepest and oldest lakes, which is home to a unique aquatic ecosystem that includes many species highly sensitive to pollution and climate change.

    “We wanted to reduce the negative impact that an industry such as ours can have on the environment, especially given the importance of Ohrid to Macedonians,” Jovčeska says.

    To limit its environmental impact, Learnica uses “green” aluminium made from recycled materials, which takes 95% less energy to produce than aluminium made from primary raw materials. The company has also introduced several other green initiatives, such as producing heat from melting furnaces, installing solar panels to generate electricity, and developing a water-cooling system that purifies and recycles water used in the manufacturing process.

    MIL OSI Europe News –

  • MIL-OSI Video: Ninth annual conference of the European Systemic Risk Board

    Source: European Central Bank (video statements)

    https://www.esrb.europa.eu/news/schedule/2025/html/20250903_9th_annual_conference.en.html

    https://www.youtube.com/watch?v=Uo5si6V31_Q

    MIL OSI Video –

  • MIL-OSI: Nano Labs Appoints Dr. Kailong Cai as CEO of Subsidiary Nano bit to Lead Global Crypto Reserve Strategy

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, July 17, 2025 (GLOBE NEWSWIRE) — Nano Labs Ltd (Nasdaq: NA) (“we,” the “Company” or “Nano Labs”), a leading Web 3.0 infrastructure and product solution provider in China, today announced the appointment of Dr. Kailong Cai as the chief executive officer (“CEO”) of its wholly-owned subsidiary, Nano bit HK Limited (“Nano bit”). Dr. Cai will be fully responsible for driving Nano bit’s strategic upgrade and overseeing its global operations. This appointment marks a significant step in the Company’s ongoing evolution into a world-leading, publicly listed cryptocurrency reserve enterprise.

    Dr. Cai is a renowned expert in crypto finance, with a strong academic background and extensive international experience. He holds a Ph.D. in finance with deep and broad background in both Chinese and U.S. financial markets. From 2020 to 2025, Dr. Cai served as a partner at Jasper Crypto Fund. From 2017 to 2018, Dr. Cai served as the chief strategy officer of Huobi Group (currently known as HTX), a global leader in crypto asset trading, as well as CEO of its U.S. subsidiary, where he led the development and execution of the company’s globalization strategy. Prior to that, he worked for approximately 6 years at Deutsche Bank on Wall Street, specializing in financial product innovation, risk management, and technology-driven business optimization. With over a decade of experience in fintech and asset management, Dr. Cai brings a wealth of knowledge to his new role.

    Dr. Cai is a chartered financial analyst (CFA) and financial risk manager (FRM), with deep expertise in fintech, blockchain, and asset management.

    Dr. Jianping Kong, Chairman and CEO of Nano Labs, commented on the appointment, “We believe Dr. Cai’s appointment brings visionary leadership and strong strategic execution capabilities to Nano Labs. Under his guidance, Nano Labs will accelerate its strategic reserves of core crypto assets, refine its asset-liability structure using capital market instruments, and further its global expansion. With Dr. Cai on board, we are more confident in achieving our goal of becoming a leading public cryptocurrency reserve company in Asia with global influence, offering investors efficient and transparent access to crypto asset allocation.”

    Dr. Cai stated: “It is a great honor to take on this role and contribute to Nano Labs’ ambitious strategic vision. I look forward to working with our talented and forward-thinking team to enhance our crypto asset strategies and capitalize on emerging market trends and technological advancements.”

    About Nano Labs Ltd

    Nano Labs Ltd is a leading Web 3.0 infrastructure and product solution provider in China. Nano Labs is committed to the development of high throughput computing (“HTC”) chips and high performance computing (“HPC”) chips. Nano Labs has built a comprehensive flow processing unit (“FPU”) architecture which offers solution that integrates the features of both HTC and HPC. In addition, Nano Labs has actively positioned itself in the digital assets space, adopting BNB as its primary reserve asset. It has accumulated nearly US$170 million in mainstream digital currencies including BNB and BTC, and established an integrated platform covering multiple business verticals, including HTC solutions and HPC solutions*. For more information, please visit the Company’s website at: ir.nano.cn.

    *  According to an industry report prepared by Frost & Sullivan.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s plan to appeal the Staff’s determination, which can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

    For investor inquiries, please contact:

    Nano Labs Ltd
    ir@nano.cn

    Ascent Investor Relations LLC
    Tina Xiao
    Phone: +1-646-932-7242
    Email: investors@ascent-ir.com

    The MIL Network –

  • MIL-OSI: Texas Capital Bancshares, Inc. Announces Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    Second quarter 2025 net income of $77.3 million and net income available to common stockholders
    of $73.0 million, up 86% and 95%, respectively, year-over-year

    Second quarter 2025 EPS of $1.58 per diluted share and adjusted EPS(1)of $1.63 per
    diluted share, up 98% and 104%, respectively, year-over-year

    Strong balance sheet growth with total loans increasing 7% quarter-over-quarter and 10% year-over-year

    Book Value and Tangible Book Value(2)per share both increasing 13% year-over-year, reaching record levels

    DALLAS, July 17, 2025 (GLOBE NEWSWIRE) — Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, announced operating results for the second quarter of 2025.

    “Our multi-year focus on building a differentiated, full-service financial services firm has strengthened our client franchise and consistently delivered high-quality outcomes across our platform, driving strong financial performance this quarter,” said Rob C. Holmes, Chairman, President & CEO. “The strategic actions we’ve taken have structurally enhanced our earnings power, and as we enter the second half of the year, the breadth of our capabilities and the strength of our balance sheet position us to deliver durable, through-cycle results for both clients and shareholders.”

      2nd Quarter   1st Quarter   2nd Quarter
    (dollars in thousands except per share data)   2025       2025       2024  
    OPERATING RESULTS          
    Net income $ 77,328     $ 47,047     $ 41,662  
    Net income available to common stockholders $ 73,016     $ 42,734     $ 37,350  
    Pre-provision net revenue(3) $ 117,188     $ 77,458     $ 78,597  
    Diluted earnings per common share $ 1.58     $ 0.92     $ 0.80  
    Diluted common shares   46,215,394       46,616,704       46,872,498  
    Return on average assets   0.99 %     0.61 %     0.56 %
    Return on average common equity   9.17 %     5.56 %     5.26 %
               
    OPERATING RESULTS, ADJUSTED(1)          
    Net income $ 79,841     $ 47,047     $ 42,020  
    Net income available to common stockholders $ 75,529     $ 42,734     $ 37,708  
    Pre-provision net revenue(3) $ 120,475     $ 77,458     $ 79,059  
    Diluted earnings per common share $ 1.63     $ 0.92     $ 0.80  
    Diluted common shares   46,215,394       46,616,704       46,872,498  
    Return on average assets   1.02 %     0.61 %     0.57 %
    Return on average common equity   9.48 %     5.56 %     5.31 %
               
    BALANCE SHEET          
    Loans held for investment $ 18,035,945     $ 17,654,243     $ 16,700,569  
    Loans held for investment, mortgage finance   5,889,589       4,725,541       5,078,161  
    Total loans held for investment   23,925,534       22,379,784       21,778,730  
    Loans held for sale   —       —       36,785  
    Total assets   31,943,535       31,375,749       29,854,994  
    Non-interest bearing deposits   7,718,006       7,874,780       7,987,715  
    Total deposits   26,064,309       26,053,034       23,818,327  
    Stockholders’ equity   3,510,070       3,429,774       3,175,601  
               

    (1) These adjusted measures are non-GAAP measures. Please refer to “GAAP to Non-GAAP Reconciliations” for the computations of these adjusted measures and the reconciliation of these non-GAAP measures to the most directly comparable GAAP measure.
    (2) Stockholders’ equity excluding preferred stock, less goodwill and intangibles, divided by shares outstanding at period end.
    (3) Net interest income plus non-interest income, less non-interest expense.

    SECOND QUARTER 2025 COMPARED TO FIRST QUARTER 2025

    For the second quarter of 2025, net income available to common stockholders was $73.0 million, or $1.58 per diluted share, compared to $42.7 million, or $0.92 per diluted share, for the first quarter of 2025.

    Provision for credit losses for the second quarter of 2025 was $15.0 million, compared to $17.0 million for the first quarter of 2025. The $15.0 million provision for credit losses recorded in the second quarter of 2025 resulted primarily from an increase in total loans held for investment (“LHI”) and $13.0 million in net charge-offs, partially offset by a decrease in criticized loans.

    Net interest income was $253.4 million for the second quarter of 2025, compared to $236.0 million for the first quarter of 2025, primarily due to increases in average earning assets and earning asset yields, a decrease in average short-term borrowings and the impact of one additional day in the second quarter. Net interest margin for the second quarter of 2025 was 3.35%, an increase of 16 basis points from the first quarter of 2025. LHI, excluding mortgage finance, yields decreased 4 basis points from the first quarter of 2025 and LHI, mortgage finance, yields increased 49 basis points from the first quarter of 2025. Total cost of deposits was 2.65% for the second quarter of 2025, an 11 basis point decrease from the first quarter of 2025.

    Non-interest income for the second quarter of 2025 increased $9.6 million compared to the first quarter of 2025 primarily due to increases in investment banking and advisory fees and trading income, partially offset by a $1.9 million loss on sale of available-for-sale debt securities recognized during the second quarter of 2025.

    Non-interest expense for the second quarter of 2025 decreased $12.7 million compared to the first quarter of 2025, primarily due to decreases in salaries and benefits, related to the effect of seasonal payroll expenses that peak in the first quarter, and legal and professional expense, partially offset by an increase in other non-interest expense.

    SECOND QUARTER 2025 COMPARED TO SECOND QUARTER 2024

    Net income available to common stockholders was $73.0 million, or $1.58 per diluted share, for the second quarter of 2025, compared to $37.4 million, or $0.80 per diluted share, for the second quarter of 2024.

    The second quarter of 2025 included a $15.0 million provision for credit losses, reflecting an increase in total LHI and $13.0 million in net charge-offs, partially offset by a decline in criticized loans, compared to a $20.0 million provision for credit losses for the second quarter of 2024.

    Net interest income increased to $253.4 million for the second quarter of 2025, compared to $216.6 million for the second quarter of 2024, primarily due to an increase in average earning assets and a decrease in funding costs, partially offset by an increase in average interest bearing liabilities. Net interest margin increased 34 basis points to 3.35% for the second quarter of 2025, as compared to the second quarter of 2024. LHI, excluding mortgage finance, yields decreased 44 basis points compared to the second quarter of 2024 and LHI, mortgage finance yields increased 48 basis points from the second quarter of 2024. Total cost of deposits decreased 34 basis points compared to the second quarter of 2024.

    Non-interest income for the second quarter of 2025 increased $3.6 million compared to the second quarter of 2024 primarily due to increases in service charges on deposit accounts, trading income and other non-interest income, partially offset by the loss on sale of available-for-sale debt securities mentioned above.

    Non-interest expense for the second quarter of 2025 increased $1.9 million compared to the second quarter of 2024, primarily due to increases in salaries and benefits, occupancy expense and communications and technology expense, partially offset by a decrease in marketing expense.

    CREDIT QUALITY

    Net charge-offs of $13.0 million were recorded during the second quarter of 2025, compared to net charge-offs of $9.8 million and $12.0 million during the first quarter of 2025 and the second quarter of 2024, respectively. Criticized loans totaled $637.5 million at June 30, 2025, compared to $762.9 million at March 31, 2025 and $859.7 million at June 30, 2024. Non-accrual LHI totaled $113.6 million at June 30, 2025, compared to $93.6 million at March 31, 2025 and $85.0 million at June 30, 2024. The ratio of non-accrual LHI to total LHI for the second quarter of 2025 was 0.47%, compared to 0.42% for the first quarter of 2025 and 0.39% for the second quarter of 2024. The ratio of total allowance for credit losses to total LHI was 1.40% at June 30, 2025, compared to 1.48% and 1.44% at March 31, 2025 and June 30, 2024, respectively.

    REGULATORY RATIOS AND CAPITAL

    All regulatory ratios continue to be in excess of “well capitalized” requirements as of June 30, 2025. CET1, tier 1 capital, total capital and leverage ratios were 11.4%, 12.9%, 15.3% and 11.8%, respectively, at June 30, 2025, compared to 11.6%, 13.1%, 15.6% and 11.8%, respectively, at March 31, 2025 and 11.6%, 13.1%, 15.7% and 12.2%, respectively, at June 30, 2024. At June 30, 2025, our ratio of tangible common equity to total tangible assets was 10.1%, compared to 10.0% at March 31, 2025 and 9.6% at June 30, 2024.

    During the second quarter of 2025, the Company repurchased 317,860 shares of its common stock for an aggregate purchase price, including excise tax expense, of $21.0 million, at a weighted average price of $65.50 per share.

    About Texas Capital Bancshares, Inc.

    Texas Capital Bancshares, Inc. (NASDAQ®: TCBI), a member of the Russell 2000®Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank (“TCB”). Texas Capital is the collective brand name for TCB and its separate, non-bank affiliates and wholly-owned subsidiaries. Texas Capital is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs and individual customers. Founded in 1998, the institution is headquartered in Dallas with offices in Austin, Houston, San Antonio, and Fort Worth, and has built a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital has established commercial banking, consumer banking, investment banking and wealth management capabilities.

    Forward Looking Statements

    This communication contains “forward-looking statements” within the meaning of and pursuant to the Private Securities Litigation Reform Act of 1995 regarding, among other things, TCBI’s financial condition, results of operations, business plans and future performance. These statements are not historical in nature and may often be identified by the use of words such as “believes,” “projects,” “expects,” “may,” “estimates,” “should,” “plans,” “targets,” “intends” “could,” “would,” “anticipates,” “potential,” “confident,” “optimistic” or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy, objectives, estimates, trends, guidance, expectations and future plans.

    Because forward-looking statements relate to future results and occurrences, they are subject to inherent and various uncertainties, risks, and changes in circumstances that are difficult to predict, may change over time, are based on management’s expectations and assumptions at the time the statements are made and are not guarantees of future results. Numerous risks and other factors, many of which are beyond management’s control, could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. While there can be no assurance that any list of risks is complete, important risks and other factors that could cause actual results to differ materially from those contemplated by forward-looking statements include, but are not limited to: economic or business conditions in Texas, the United States or globally that impact TCBI or its customers; negative credit quality developments arising from the foregoing or other factors, including recent trade policies and their impact on our customers; TCBI’s ability to effectively manage its liquidity and maintain adequate regulatory capital to support its businesses; TCBI’s ability to pursue and execute upon growth plans, whether as a function of capital, liquidity or other limitations; TCBI’s ability to successfully execute its business strategy, including its strategic plan and developing and executing new lines of business and new products and services and potential strategic acquisitions; the extensive regulations to which TCBI is subject and its ability to comply with applicable governmental regulations, including legislative and regulatory changes; TCBI’s ability to effectively manage information technology systems, including third party vendors, cyber or data privacy incidents or other failures, disruptions or security breaches; TCBI’s ability to use technology to provide products and services to its customers; risks related to the development and use of artificial intelligence; changes in interest rates, including the impact of interest rates on TCBI’s securities portfolio and funding costs, as well as related balance sheet implications stemming from the fair value of our assets and liabilities; the effectiveness of TCBI’s risk management processes strategies and monitoring; fluctuations in commercial and residential real estate values, especially as they relate to the value of collateral supporting TCBI’s loans; the failure to identify, attract and retain key personnel and other employees; adverse developments in the banking industry and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments, including in the context of regulatory examinations and related findings and actions; negative press and social media attention with respect to the banking industry or TCBI, in particular; claims, litigation or regulatory investigations and actions that TCBI may become subject to; severe weather, natural disasters, climate change, acts of war, terrorism, global or other geopolitical conflicts, or other external events, as well as related legislative and regulatory initiatives; and the risks and factors more fully described in TCBI’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents and filings with the SEC. The information contained in this communication speaks only as of its date. Except to the extent required by applicable law or regulation, we disclaim any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments.

    TEXAS CAPITAL BANCSHARES, INC.
    SELECTED FINANCIAL HIGHLIGHTS (UNAUDITED)
    (dollars in thousands except per share data)
      2nd Quarter 1st Quarter 4th Quarter 3rd Quarter 2nd Quarter
        2025     2025     2024     2024     2024  
    CONSOLIDATED STATEMENTS OF INCOME          
    Interest income $ 439,567   $ 427,289   $ 437,571   $ 452,533   $ 422,068  
    Interest expense   186,172     191,255     207,964     212,431     205,486  
    Net interest income   253,395     236,034     229,607     240,102     216,582  
    Provision for credit losses   15,000     17,000     18,000     10,000     20,000  
    Net interest income after provision for credit losses   238,395     219,034     211,607     230,102     196,582  
    Non-interest income   54,069     44,444     54,074     (114,771 )   50,424  
    Non-interest expense   190,276     203,020     172,159     195,324     188,409  
    Income/(loss) before income taxes   102,188     60,458     93,522     (79,993 )   58,597  
    Income tax expense/(benefit)   24,860     13,411     22,499     (18,674 )   16,935  
    Net income/(loss)   77,328     47,047     71,023     (61,319 )   41,662  
    Preferred stock dividends   4,312     4,313     4,312     4,313     4,312  
    Net income/(loss) available to common stockholders $ 73,016   $ 42,734   $ 66,711   $ (65,632 ) $ 37,350  
    Diluted earnings/(loss) per common share $ 1.58   $ 0.92   $ 1.43   $ (1.41 ) $ 0.80  
    Diluted common shares   46,215,394     46,616,704     46,770,961     46,608,742     46,872,498  
    CONSOLIDATED BALANCE SHEET DATA          
    Total assets $ 31,943,535   $ 31,375,749   $ 30,731,883   $ 31,629,299   $ 29,854,994  
    Loans held for investment   18,035,945     17,654,243     17,234,492     16,764,512     16,700,569  
    Loans held for investment, mortgage finance   5,889,589     4,725,541     5,215,574     5,529,659     5,078,161  
    Loans held for sale   —     —     —     9,022     36,785  
    Interest bearing cash and cash equivalents   2,507,691     3,600,969     3,012,307     3,894,537     2,691,352  
    Investment securities   4,608,628     4,531,219     4,396,115     4,405,520     4,388,976  
    Non-interest bearing deposits   7,718,006     7,874,780     7,485,428     9,070,804     7,987,715  
    Total deposits   26,064,309     26,053,034     25,238,599     25,865,255     23,818,327  
    Short-term borrowings   1,250,000     750,000     885,000     1,035,000     1,675,000  
    Long-term debt   620,256     660,521     660,346     660,172     659,997  
    Stockholders’ equity   3,510,070     3,429,774     3,367,936     3,354,044     3,175,601  
               
    End of period shares outstanding   45,746,836     46,024,933     46,233,812     46,207,757     46,188,078  
    Book value per share $ 70.17   $ 68.00   $ 66.36   $ 66.09   $ 62.26  
    Tangible book value per share(1) $ 70.14   $ 67.97   $ 66.32   $ 66.06   $ 62.23  
    SELECTED FINANCIAL RATIOS          
    Net interest margin   3.35 %   3.19 %   2.93 %   3.16 %   3.01 %
    Return on average assets   0.99 %   0.61 %   0.88 % (0.78 )%   0.56 %
    Return on average assets, adjusted(4)   1.02 %   0.61 %   0.88 %   1.00 %   0.57 %
    Return on average common equity   9.17 %   5.56 %   8.50 % (8.87 )%   5.26 %
    Return on average common equity, adjusted(4)   9.48 %   5.56 %   8.50 %   10.04 %   5.31 %
    Efficiency ratio(2)   61.9 %   72.4 %   60.7 %   155.8 %   70.6 %
    Efficiency ratio, adjusted(2)(4)   61.1 %   72.4 %   60.7 %   62.3 %   70.4 %
    Non-interest income to average earning assets   0.72 %   0.60 %   0.69 % (1.52 )%   0.71 %
    Non-interest income to average earning assets, adjusted(4)   0.74 %   0.60 %   0.69 %   0.86 %   0.71 %
    Non-interest expense to average earning assets   2.52 %   2.75 %   2.21 %   2.59 %   2.65 %
    Non-interest expense to average earning assets, adjusted(4)   2.50 %   2.75 %   2.21 %   2.52 %   2.65 %
    Common equity to total assets   10.1 %   10.0 %   10.0 %   9.7 %   9.6 %
    Tangible common equity to total tangible assets(3)   10.1 %   10.0 %   10.0 %   9.7 %   9.6 %
    Common Equity Tier 1   11.4 %   11.6 %   11.4 %   11.2 %   11.6 %
    Tier 1 capital   12.9 %   13.1 %   12.8 %   12.6 %   13.1 %
    Total capital   15.3 %   15.6 %   15.4 %   15.2 %   15.7 %
    Leverage   11.8 %   11.8 %   11.3 %   11.4 %   12.2 %

    (1) Stockholders’ equity excluding preferred stock, less goodwill and intangibles, divided by shares outstanding at period end.
    (2) Non-interest expense divided by the sum of net interest income and non-interest income.
    (3) Stockholders’ equity excluding preferred stock, less goodwill and intangibles, divided by total assets, less goodwill and intangibles.
    (4) These adjusted measures are non-GAAP measures. Please refer to “GAAP to Non-GAAP Reconciliations” for the computations of these adjusted measures and the reconciliation of these non-GAAP measures to the most directly comparable GAAP measure.

    TEXAS CAPITAL BANCSHARES, INC.
    CONSOLIDATED BALANCE SHEETS (UNAUDITED)
    (dollars in thousands)
      June 30,
    2025    		 March 31,
    2025    		 December 31,
    2024    		 September 30,
    2024    		 June 30,
    2024
    Assets          
    Cash and due from banks $ 182,451   $ 201,504   $ 176,501   $ 297,048   $ 221,727  
    Interest bearing cash and cash equivalents   2,507,691     3,600,969     3,012,307     3,894,537     2,691,352  
    Available-for-sale debt securities   3,774,141     3,678,378     3,524,686     3,518,662     3,483,231  
    Held-to-maturity debt securities   761,907     779,354     796,168     812,432     831,513  
    Equity securities   68,692     71,679     75,261     74,426     74,232  
    Trading securities   3,888     1,808     —     —     —  
    Investment securities   4,608,628     4,531,219     4,396,115     4,405,520     4,388,976  
    Loans held for sale   —     —     —     9,022     36,785  
    Loans held for investment, mortgage finance   5,889,589     4,725,541     5,215,574     5,529,659     5,078,161  
    Loans held for investment   18,035,945     17,654,243     17,234,492     16,764,512     16,700,569  
    Less: Allowance for credit losses on loans   277,648     278,379     271,709     273,143     267,297  
    Loans held for investment, net   23,647,886     22,101,405     22,178,357     22,021,028     21,511,433  
    Premises and equipment, net   86,831     84,575     85,443     81,577     69,464  
    Accrued interest receivable and other assets   908,552     854,581     881,664     919,071     933,761  
    Goodwill and intangibles, net   1,496     1,496     1,496     1,496     1,496  
    Total assets $ 31,943,535   $ 31,375,749   $ 30,731,883   $ 31,629,299   $ 29,854,994  
               
    Liabilities and Stockholders’ Equity          
    Liabilities:          
    Non-interest bearing deposits $ 7,718,006   $ 7,874,780   $ 7,485,428   $ 9,070,804   $ 7,987,715  
    Interest bearing deposits   18,346,303     18,178,254     17,753,171     16,794,451     15,830,612  
    Total deposits   26,064,309     26,053,034     25,238,599     25,865,255     23,818,327  
    Accrued interest payable   14,120     25,270     23,680     18,679     23,841  
    Other liabilities   484,780     457,150     556,322     696,149     502,228  
    Short-term borrowings   1,250,000     750,000     885,000     1,035,000     1,675,000  
    Long-term debt   620,256     660,521     660,346     660,172     659,997  
    Total liabilities   28,433,465     27,945,975     27,363,947     28,275,255     26,679,393  
               
    Stockholders’ equity:          
    Preferred stock, $.01 par value, $1,000 liquidation value:          
    Authorized shares – 10,000,000          
    Issued shares(1)   300,000     300,000     300,000     300,000     300,000  
    Common stock, $.01 par value:          
    Authorized shares – 100,000,000          
    Issued shares(2)   517     517     515     515     515  
    Additional paid-in capital   1,065,083     1,060,028     1,056,719     1,054,614     1,050,114  
    Retained earnings   2,611,401     2,538,385     2,495,651     2,428,940     2,494,572  
    Treasury stock(3)   (354,000 )   (332,994 )   (301,842 )   (301,868 )   (301,868 )
    Accumulated other comprehensive loss, net of taxes   (112,931 )   (136,162 )   (183,107 )   (128,157 )   (367,732 )
    Total stockholders’ equity   3,510,070     3,429,774     3,367,936     3,354,044     3,175,601  
    Total liabilities and stockholders’ equity $ 31,943,535   $ 31,375,749   $ 30,731,883   $ 31,629,299   $ 29,854,994  
               
    (1) Preferred stock – issued shares   300,000     300,000     300,000     300,000     300,000  
    (2) Common stock – issued shares   51,747,305     51,707,542     51,520,315     51,494,260     51,474,581  
    (3) Treasury stock – shares at cost   6,000,469     5,682,609     5,286,503     5,286,503     5,286,503  
    TEXAS CAPITAL BANCSHARES, INC.        
    CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)        
    (dollars in thousands except per share data)        
      Three Months Ended June 30, Six Months Ended June 30,
        2025   2024   2025   2024
    Interest income        
    Interest and fees on loans $ 364,358   $ 345,251 $ 698,508   $ 676,130
    Investment securities   45,991     33,584   92,556     65,728
    Interest bearing cash and cash equivalents   29,218     43,233   75,792     97,588
    Total interest income   439,567     422,068   866,856     839,446
    Interest expense        
    Deposits   174,798     181,280   349,734     356,880
    Short-term borrowings   3,444     12,749   11,690     25,532
    Long-term debt   7,930     11,457   16,003     25,443
    Total interest expense   186,172     205,486   377,427     407,855
    Net interest income   253,395     216,582   489,429     431,591
    Provision for credit losses   15,000     20,000   32,000     39,000
    Net interest income after provision for credit losses   238,395     196,582   457,429     392,591
    Non-interest income        
    Service charges on deposit accounts   8,182     5,911   16,022     12,250
    Wealth management and trust fee income   3,730     3,699   7,694     7,266
    Brokered loan fees   2,398     2,131   4,347     4,042
    Investment banking and advisory fees   24,109     25,048   40,587     43,472
    Trading income   7,896     5,650   13,835     10,362
    Available-for-sale debt securities losses   (1,886 )   —   (1,886 )   —
    Other   9,640     7,985   17,914     14,351
    Total non-interest income   54,069     50,424   98,513     91,743
    Non-interest expense        
    Salaries and benefits   120,154     118,840   251,795     247,567
    Occupancy expense   12,144     10,666   22,988     20,403
    Marketing   3,624     5,996   8,633     12,032
    Legal and professional   11,069     11,273   26,058     27,468
    Communications and technology   24,314     22,013   47,956     43,127
    Federal Deposit Insurance Corporation insurance assessment   5,096     5,570   10,437     13,991
    Other   13,875     14,051   25,429     26,214
    Total non-interest expense   190,276     188,409   393,296     390,802
    Income before income taxes   102,188     58,597   162,646     93,532
    Income tax expense   24,860     16,935   38,271     25,728
    Net income   77,328     41,662   124,375     67,804
    Preferred stock dividends   4,312     4,312   8,625     8,625
    Net income available to common stockholders $ 73,016   $ 37,350 $ 115,750   $ 59,179
             
    Basic earnings per common share $ 1.59   $ 0.80 $ 2.52   $ 1.26
    Diluted earnings per common share $ 1.58   $ 0.80 $ 2.49   $ 1.25
    TEXAS CAPITAL BANCSHARES, INC.
    SUMMARY OF CREDIT LOSS EXPERIENCE
    (dollars in thousands)
      2nd Quarter 1st Quarter 4th Quarter 3rd Quarter 2nd Quarter
        2025     2025     2024     2024     2024  
    Allowance for credit losses on loans:          
    Beginning balance $ 278,379   $ 271,709   $ 273,143   $ 267,297   $ 263,962  
    Allowance established for acquired purchase credit deterioration loans   —     —     —     2,579     —  
    Loans charged-off:          
    Commercial   13,020     10,197     14,100     6,120     9,997  
    Commercial real estate   431     500     2,566     262     2,111  
    Consumer   —     —     —     30     —  
    Total charge-offs   13,451     10,697     16,666     6,412     12,108  
    Recoveries:          
    Commercial   486     483     4,562     329     153  
    Commercial real estate   —     413     18     —     —  
    Consumer   —     4     15     —     —  
    Total recoveries   486     900     4,595     329     153  
    Net charge-offs   12,965     9,797     12,071     6,083     11,955  
    Provision for credit losses on loans   12,234     16,467     10,637     9,350     15,290  
    Ending balance $ 277,648   $ 278,379   $ 271,709   $ 273,143   $ 267,297  
               
    Allowance for off-balance sheet credit losses:          
    Beginning balance $ 53,865   $ 53,332   $ 45,969   $ 45,319   $ 40,609  
    Provision for off-balance sheet credit losses   2,766     533     7,363     650     4,710  
    Ending balance $ 56,631   $ 53,865   $ 53,332   $ 45,969   $ 45,319  
               
    Total allowance for credit losses $ 334,279   $ 332,244   $ 325,041   $ 319,112   $ 312,616  
    Total provision for credit losses $ 15,000   $ 17,000   $ 18,000   $ 10,000   $ 20,000  
               
    Allowance for credit losses on loans to total loans held for investment   1.16 %   1.24 %   1.21 %   1.23 %   1.23 %
    Allowance for credit losses on loans to average total loans held for investment   1.19 %   1.29 %   1.22 %   1.24 %   1.27 %
    Net charge-offs to average total loans held for investment(1)   0.22 %   0.18 %   0.22 %   0.11 %   0.23 %
    Net charge-offs to average total loans held for investment for last 12 months(1)   0.18 %   0.18 %   0.19 %   0.20 %   0.22 %
    Total provision for credit losses to average total loans held for investment(1)   0.26 %   0.32 %   0.32 %   0.18 %   0.38 %
    Total allowance for credit losses to total loans held for investment   1.40 %   1.48 %   1.45 %   1.43 %   1.44 %

    (1) Interim period ratios are annualized.

    TEXAS CAPITAL BANCSHARES, INC.          
    NON-PERFORMING ASSETS, PAST DUE LOANS AND CRITICIZED LOANS      
    (dollars in thousands)          
      2nd Quarter 1st Quarter 4th Quarter 3rd Quarter 2nd Quarter
        2025     2025     2024     2024     2024  
    NON-PERFORMING ASSETS          
    Non-accrual loans held for investment $ 113,609   $ 93,565   $ 111,165   $ 88,960   $ 85,021  
    Non-accrual loans held for sale   —     —     —     —     —  
    Other real estate owned   —     —     —     —     —  
    Total non-performing assets $ 113,609   $ 93,565   $ 111,165   $ 88,960   $ 85,021  
               
    Non-accrual loans held for investment to total loans held for investment   0.47 %   0.42 %   0.50 %   0.40 %   0.39 %
    Total non-performing assets to total assets   0.36 %   0.30 %   0.36 %   0.28 %   0.28 %
    Allowance for credit losses on loans to non-accrual loans held for investment 2.4x 3.0x 2.4x 3.1x 3.1x
    Total allowance for credit losses to non-accrual loans held for investment 2.9x 3.6x 2.9x 3.6x 3.7x
               
    LOANS PAST DUE          
    Loans held for investment past due 90 days and still accruing $ 2,068   $ 791   $ 4,265   $ 5,281   $ 286  
    Loans held for investment past due 90 days to total loans held for investment   0.01 %   — %   0.02 %   0.02 %   — %
    Loans held for sale past due 90 days and still accruing $ —   $ —   $ —   $ —   $ 64  
               
    CRITICIZED LOANS          
    Criticized loans $ 637,462   $ 762,887   $ 713,951   $ 897,727   $ 859,671  
    Criticized loans to total loans held for investment   2.66 %   3.41 %   3.18 %   4.03 %   3.95 %
    Special mention loans $ 339,923   $ 484,165   $ 435,626   $ 579,802   $ 593,305  
    Special mention loans to total loans held for investment   1.42 %   2.16 %   1.94 %   2.60 %   2.72 %
    TEXAS CAPITAL BANCSHARES, INC.
    CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
    (dollars in thousands)
               
      2nd Quarter 1st Quarter 4th Quarter 3rd Quarter 2nd Quarter
        2025   2025 2024   2024   2024
    Interest income          
    Interest and fees on loans $ 364,358   $ 334,150 $ 340,388 $ 361,407   $ 345,251
    Investment securities   45,991     46,565   44,102   38,389     33,584
    Interest bearing deposits in other banks   29,218     46,574   53,081   52,737     43,233
    Total interest income   439,567     427,289   437,571   452,533     422,068
    Interest expense          
    Deposits   174,798     174,936   189,061   190,255     181,280
    Short-term borrowings   3,444     8,246   10,678   13,784     12,749
    Long-term debt   7,930     8,073   8,225   8,392     11,457
    Total interest expense   186,172     191,255   207,964   212,431     205,486
    Net interest income   253,395     236,034   229,607   240,102     216,582
    Provision for credit losses   15,000     17,000   18,000   10,000     20,000
    Net interest income after provision for credit losses   238,395     219,034   211,607   230,102     196,582
    Non-interest income          
    Service charges on deposit accounts   8,182     7,840   6,989   6,307     5,911
    Wealth management and trust fee income   3,730     3,964   4,009   4,040     3,699
    Brokered loan fees   2,398     1,949   2,519   2,400     2,131
    Investment banking and advisory fees   24,109     16,478   26,740   34,753     25,048
    Trading income   7,896     5,939   5,487   5,786     5,650
    Available-for-sale debt securities losses   (1,886 )   —   —   (179,581 )   —
    Other   9,640     8,274   8,330   11,524     7,985
    Total non-interest income   54,069     44,444   54,074   (114,771 )   50,424
    Non-interest expense          
    Salaries and benefits   120,154     131,641   97,873   121,138     118,840
    Occupancy expense   12,144     10,844   11,926   12,937     10,666
    Marketing   3,624     5,009   4,454   5,863     5,996
    Legal and professional   11,069     14,989   15,180   11,135     11,273
    Communications and technology   24,314     23,642   24,007   25,951     22,013
    Federal Deposit Insurance Corporation insurance assessment   5,096     5,341   4,454   4,906     5,570
    Other   13,875     11,554   14,265   13,394     14,051
    Total non-interest expense   190,276     203,020   172,159   195,324     188,409
    Income/(loss) before income taxes   102,188     60,458   93,522   (79,993 )   58,597
    Income tax expense/(benefit)   24,860     13,411   22,499   (18,674 )   16,935
    Net income/(loss)   77,328     47,047   71,023   (61,319 )   41,662
    Preferred stock dividends   4,312     4,313   4,312   4,313     4,312
    Net income/(loss) available to common shareholders $ 73,016   $ 42,734 $ 66,711 $ (65,632 ) $ 37,350
    TEXAS CAPITAL BANCSHARES, INC.
    TAXABLE EQUIVALENT NET INTEREST INCOME ANALYSIS (UNAUDITED)(1)
    (dollars in thousands)
      2nd Quarter 2025   1st Quarter 2025   2nd Quarter 2024   YTD June 30, 2025   YTD June 30, 2024
      Average
    Balance    		 Income/
    Expense    		 Yield/
    Rate    		   Average
    Balance    		 Income/
    Expense    		 Yield/
    Rate    		   Average
    Balance    		 Income/
    Expense    		 Yield/
    Rate    		   Average
    Balance    		 Income/
    Expense    		 Yield/
    Rate    		   Average
    Balance    		 Income/
    Expense    		 Yield/
    Rate
    Assets                                      
    Investment securities(2) $ 4,573,164 $ 45,999 3.93 %   $ 4,463,876 $ 46,565 4.10 %   $ 4,427,023 $ 33,584 2.80 %   $ 4,518,822 $ 92,564 4.01 %   $ 4,363,195 $ 65,728 2.79 %
    Interest bearing cash and cash equivalents   2,661,037   29,218 4.40 %     4,255,796   46,574 4.44 %     3,273,069   43,233 5.31 %     3,454,011   75,792 4.43 %     3,662,348   97,588 5.36 %
    Loans held for sale   —   — — %     335   2 2.97 %     28,768   683 9.55 %     167   2 2.97 %     39,966   1,867 9.40 %
    Loans held for investment, mortgage finance   5,327,559   58,707 4.42 %     3,972,106   38,527 3.93 %     4,357,288   42,722 3.94 %     4,653,577   97,234 4.21 %     3,937,498   74,177 3.79 %
    Loans held for investment(3)   18,018,626   306,142 6.81 %     17,527,070   296,091 6.85 %     16,750,788   301,910 7.25 %     17,774,206   602,233 6.83 %     16,636,438   600,216 7.26 %
    Less: Allowance for credit losses on loans   278,035   — — %     272,758   — —       263,145   — — %     275,411   — —       256,541   — —  
    Loans held for investment, net   23,068,150   364,849 6.34 %     21,226,418   334,618 6.39 %     20,844,931   344,632 6.65 %     22,152,372   699,467 6.37 %     20,317,395   674,393 6.68 %
    Total earning assets   30,302,351   440,066 5.80 %     29,946,425   427,759 5.76 %     28,573,791   422,132 5.86 %     30,125,372   867,825 5.78 %     28,382,904   839,576 5.87 %
    Cash and other assets   1,117,118         1,157,184         1,177,061         1,137,040         1,117,763    
    Total assets $ 31,419,469       $ 31,103,609       $ 29,750,852       $ 31,262,412       $ 29,500,667    
                                           
    Liabilities and Stockholders’ Equity                                      
    Transaction deposits $ 2,213,037 $ 13,731 2.49 %   $ 2,163,250 $ 13,908 2.61 %   $ 2,061,622 $ 16,982 3.31 %   $ 2,188,282 $ 27,639 2.55 %   $ 2,034,057 $ 33,840 3.35 %
    Savings deposits   13,727,095   134,272 3.92 %     13,357,243   133,577 4.06 %     11,981,668   143,173 4.81 %     13,543,190   267,849 3.99 %     11,695,673   279,963 4.81 %
    Time deposits   2,361,525   26,795 4.55 %     2,329,384   27,451 4.78 %     1,658,899   21,125 5.12 %     2,345,543   54,246 4.66 %     1,689,112   43,077 5.13 %
    Total interest bearing deposits   18,301,657   174,798 3.83 %     17,849,877   174,936 3.97 %     15,702,189   181,280 4.64 %     18,077,015   349,734 3.90 %     15,418,842   356,880 4.65 %
    Short-term borrowings   306,176   3,444 4.51 %     751,500   8,246 4.45 %     927,253   12,749 5.53 %     527,608   11,690 4.47 %     919,670   25,532 5.58 %
    Long-term debt   649,469   7,930 4.90 %     660,445   8,073 4.96 %     778,401   11,457 5.92 %     654,927   16,003 4.93 %     818,955   25,443 6.25 %
    Total interest bearing liabilities   19,257,302   186,172 3.88 %     19,261,822   191,255 4.03 %     17,407,843   205,486 4.75 %     19,259,550   377,427 3.95 %     17,157,467   407,855 4.78 %
    Non-interest bearing deposits   8,191,402         7,875,244         8,647,594         8,034,196         8,642,685    
    Other liabilities   475,724         552,154         537,754         513,728         523,520    
    Stockholders’ equity   3,495,041         3,414,389         3,157,661         3,454,938         3,176,995    
    Total liabilities and stockholders’ equity $ 31,419,469       $ 31,103,609       $ 29,750,852       $ 31,262,412       $ 29,500,667    
    Net interest income   $ 253,894       $ 236,504       $ 216,646       $ 490,398       $ 431,721  
    Net interest margin     3.35 %       3.19 %       3.01 %       3.27 %       3.02 %

    (1) Taxable equivalent rates used where applicable.
    (2) Yields on investment securities are calculated using available-for-sale securities at amortized cost.
    (3) Average balances include non-accrual loans.

    GAAP TO NON-GAAP RECONCILIATIONS

    The following items are non-GAAP financial measures: adjusted non-interest income, adjusted non-interest expense, adjusted net income, adjusted net income available to common stockholders, adjusted pre-provision net revenue (“PPNR”), adjusted diluted earnings/(loss) per common share, adjusted return on average assets, adjusted return on average common equity, adjusted efficiency ratio, adjusted non-interest income to average earning assets and adjusted non-interest expense to average earning assets. These are not measures recognized under GAAP and therefore are considered non-GAAP financial measures. The table below provides a reconciliation of these non-GAAP financial measures to the most comparable GAAP measures.

    These non-GAAP financial measures are adjusted for certain items, listed below, that management believes are non-operating in nature and not representative of its actual operating performance. Management believes that these non-GAAP financial measures provide meaningful additional information about Texas Capital Bancshares, Inc. to assist management and investors in evaluating operating results, financial strength, business performance and capital position. Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied and are not audited. As such, these non-GAAP financial measures should not be considered in isolation or as a substitute for analyses of operating results or capital position as reported under GAAP.

    Reconciliation of Non-GAAP Financial Measures      
    (dollars in thousands except per share data) 2nd Quarter
    2025    		 1st Quarter
    2025    		 4th Quarter
    2024    		 3rd Quarter
    2024    		 2nd Quarter
    2024
    Net interest income $ 253,395   $ 236,034   $ 229,607   $ 240,102   $ 216,582  
               
    Non-interest income   54,069     44,444     54,074     (114,771 )   50,424  
    Available-for-sale debt securities losses, net   1,886     —     —     179,581     —  
    Non-interest income, adjusted   55,955     44,444     54,074     64,810     50,424  
               
    Non-interest expense   190,276     203,020     172,159     195,324     188,409  
    FDIC special assessment   —     —     —     651     (462 )
    Restructuring expenses   (1,401 )   —     —     (5,923 )   —  
    Non-interest expense, adjusted   188,875     203,020     172,159     190,052     187,947  
               
    Provision for credit losses   15,000     17,000     18,000     10,000     20,000  
               
    Income tax expense/(benefit)   24,860     13,411     22,499     (18,674 )   16,935  
    Tax effect of adjustments   774     —     —     44,880     104  
    Income tax expense/(benefit), adjusted   25,634     13,411     22,499     26,206     17,039  
               
    Net income/(loss)(1) $ 77,328   $ 47,047   $ 71,023   $ (61,319 ) $ 41,662  
    Net income/(loss), adjusted(1) $ 79,841   $ 47,047   $ 71,023   $ 78,654   $ 42,020  
               
    Preferred stock dividends   4,312     4,313     4,312     4,313     4,312  
               
    Net income/(loss) to common stockholders(2) $ 73,016   $ 42,734   $ 66,711   $ (65,632 ) $ 37,350  
    Net income/(loss) to common stockholders, adjusted(2) $ 75,529   $ 42,734   $ 66,711   $ 74,341   $ 37,708  
               
    PPNR(3) $ 117,188   $ 77,458   $ 111,522   $ (69,993 ) $ 78,597  
    PPNR(3), adjusted $ 120,475   $ 77,458   $ 111,522   $ 114,860   $ 79,059  
               
    Weighted average common shares outstanding, diluted   46,215,394     46,616,704     46,770,961     46,608,742     46,872,498  
    Diluted earnings/(loss) per common share $ 1.58   $ 0.92   $ 1.43   $ (1.41 ) $ 0.80  
    Diluted earnings/(loss) per common share, adjusted $ 1.63   $ 0.92   $ 1.43   $ 1.59   $ 0.80  
               
    Average total assets $ 31,419,469   $ 31,103,609   $ 32,212,087   $ 31,215,173   $ 29,750,852  
    Return on average assets   0.99 %   0.61 %   0.88 % (0.78 )%   0.56 %
    Return on average assets, adjusted   1.02 %   0.61 %   0.88 %   1.00 %   0.57 %
               
    Average common equity $ 3,195,041   $ 3,114,389   $ 3,120,933   $ 2,945,238   $ 2,857,661  
    Return on average common equity   9.17 %   5.56 %   8.50 % (8.87 )%   5.26 %
    Return on average common equity, adjusted   9.48 %   5.56 %   8.50 %   10.04 %   5.31 %
               
    Efficiency ratio(4)   61.9 %   72.4 %   60.7 %   155.8 %   70.6 %
    Efficiency ratio, adjusted(4)   61.1 %   72.4 %   60.7 %   62.3 %   70.4 %
               
    Average earning assets $ 30,302,351   $ 29,946,425   $ 31,033,803   $ 29,975,318   $ 28,573,791  
    Non-interest income to average earning assets   0.72 %   0.60 %   0.69 % (1.52 )%   0.71 %
    Non-interest income to average earning assets, adjusted   0.74 %   0.60 %   0.69 %   0.86 %   0.71 %
    Non-interest expense to average earning assets   2.52 %   2.75 %   2.21 %   2.59 %   2.65 %
    Non-interest expense to average earning assets, adjusted   2.50 %   2.75 %   2.21 %   2.52 %   2.65 %

    (1) Net interest income plus non-interest income, less non-interest expense, provision for credit losses and income tax expense/(benefit). On an adjusted basis, net interest income plus non-interest income, adjusted, less non-interest expense, adjusted, provision for credit losses and income tax expense/(benefit), adjusted.
    (2) Net income/(loss), less preferred stock dividends. On an adjusted basis, net income/(loss), adjusted, less preferred stock dividends.
    (3) Net interest income plus non-interest income, less non-interest expense. On an adjusted basis, net interest income plus non-interest income, adjusted, less non-interest expense, adjusted.
    (4) Non-interest expense divided by the sum of net interest income and non-interest income. On an adjusted basis, non-interest expense, adjusted, divided by the sum of net interest income and non-interest income, adjusted.

    The MIL Network –

  • MIL-OSI: Texas Capital Bancshares, Inc. Announces Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    Second quarter 2025 net income of $77.3 million and net income available to common stockholders
    of $73.0 million, up 86% and 95%, respectively, year-over-year

    Second quarter 2025 EPS of $1.58 per diluted share and adjusted EPS(1)of $1.63 per
    diluted share, up 98% and 104%, respectively, year-over-year

    Strong balance sheet growth with total loans increasing 7% quarter-over-quarter and 10% year-over-year

    Book Value and Tangible Book Value(2)per share both increasing 13% year-over-year, reaching record levels

    DALLAS, July 17, 2025 (GLOBE NEWSWIRE) — Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, announced operating results for the second quarter of 2025.

    “Our multi-year focus on building a differentiated, full-service financial services firm has strengthened our client franchise and consistently delivered high-quality outcomes across our platform, driving strong financial performance this quarter,” said Rob C. Holmes, Chairman, President & CEO. “The strategic actions we’ve taken have structurally enhanced our earnings power, and as we enter the second half of the year, the breadth of our capabilities and the strength of our balance sheet position us to deliver durable, through-cycle results for both clients and shareholders.”

      2nd Quarter   1st Quarter   2nd Quarter
    (dollars in thousands except per share data)   2025       2025       2024  
    OPERATING RESULTS          
    Net income $ 77,328     $ 47,047     $ 41,662  
    Net income available to common stockholders $ 73,016     $ 42,734     $ 37,350  
    Pre-provision net revenue(3) $ 117,188     $ 77,458     $ 78,597  
    Diluted earnings per common share $ 1.58     $ 0.92     $ 0.80  
    Diluted common shares   46,215,394       46,616,704       46,872,498  
    Return on average assets   0.99 %     0.61 %     0.56 %
    Return on average common equity   9.17 %     5.56 %     5.26 %
               
    OPERATING RESULTS, ADJUSTED(1)          
    Net income $ 79,841     $ 47,047     $ 42,020  
    Net income available to common stockholders $ 75,529     $ 42,734     $ 37,708  
    Pre-provision net revenue(3) $ 120,475     $ 77,458     $ 79,059  
    Diluted earnings per common share $ 1.63     $ 0.92     $ 0.80  
    Diluted common shares   46,215,394       46,616,704       46,872,498  
    Return on average assets   1.02 %     0.61 %     0.57 %
    Return on average common equity   9.48 %     5.56 %     5.31 %
               
    BALANCE SHEET          
    Loans held for investment $ 18,035,945     $ 17,654,243     $ 16,700,569  
    Loans held for investment, mortgage finance   5,889,589       4,725,541       5,078,161  
    Total loans held for investment   23,925,534       22,379,784       21,778,730  
    Loans held for sale   —       —       36,785  
    Total assets   31,943,535       31,375,749       29,854,994  
    Non-interest bearing deposits   7,718,006       7,874,780       7,987,715  
    Total deposits   26,064,309       26,053,034       23,818,327  
    Stockholders’ equity   3,510,070       3,429,774       3,175,601  
               

    (1) These adjusted measures are non-GAAP measures. Please refer to “GAAP to Non-GAAP Reconciliations” for the computations of these adjusted measures and the reconciliation of these non-GAAP measures to the most directly comparable GAAP measure.
    (2) Stockholders’ equity excluding preferred stock, less goodwill and intangibles, divided by shares outstanding at period end.
    (3) Net interest income plus non-interest income, less non-interest expense.

    SECOND QUARTER 2025 COMPARED TO FIRST QUARTER 2025

    For the second quarter of 2025, net income available to common stockholders was $73.0 million, or $1.58 per diluted share, compared to $42.7 million, or $0.92 per diluted share, for the first quarter of 2025.

    Provision for credit losses for the second quarter of 2025 was $15.0 million, compared to $17.0 million for the first quarter of 2025. The $15.0 million provision for credit losses recorded in the second quarter of 2025 resulted primarily from an increase in total loans held for investment (“LHI”) and $13.0 million in net charge-offs, partially offset by a decrease in criticized loans.

    Net interest income was $253.4 million for the second quarter of 2025, compared to $236.0 million for the first quarter of 2025, primarily due to increases in average earning assets and earning asset yields, a decrease in average short-term borrowings and the impact of one additional day in the second quarter. Net interest margin for the second quarter of 2025 was 3.35%, an increase of 16 basis points from the first quarter of 2025. LHI, excluding mortgage finance, yields decreased 4 basis points from the first quarter of 2025 and LHI, mortgage finance, yields increased 49 basis points from the first quarter of 2025. Total cost of deposits was 2.65% for the second quarter of 2025, an 11 basis point decrease from the first quarter of 2025.

    Non-interest income for the second quarter of 2025 increased $9.6 million compared to the first quarter of 2025 primarily due to increases in investment banking and advisory fees and trading income, partially offset by a $1.9 million loss on sale of available-for-sale debt securities recognized during the second quarter of 2025.

    Non-interest expense for the second quarter of 2025 decreased $12.7 million compared to the first quarter of 2025, primarily due to decreases in salaries and benefits, related to the effect of seasonal payroll expenses that peak in the first quarter, and legal and professional expense, partially offset by an increase in other non-interest expense.

    SECOND QUARTER 2025 COMPARED TO SECOND QUARTER 2024

    Net income available to common stockholders was $73.0 million, or $1.58 per diluted share, for the second quarter of 2025, compared to $37.4 million, or $0.80 per diluted share, for the second quarter of 2024.

    The second quarter of 2025 included a $15.0 million provision for credit losses, reflecting an increase in total LHI and $13.0 million in net charge-offs, partially offset by a decline in criticized loans, compared to a $20.0 million provision for credit losses for the second quarter of 2024.

    Net interest income increased to $253.4 million for the second quarter of 2025, compared to $216.6 million for the second quarter of 2024, primarily due to an increase in average earning assets and a decrease in funding costs, partially offset by an increase in average interest bearing liabilities. Net interest margin increased 34 basis points to 3.35% for the second quarter of 2025, as compared to the second quarter of 2024. LHI, excluding mortgage finance, yields decreased 44 basis points compared to the second quarter of 2024 and LHI, mortgage finance yields increased 48 basis points from the second quarter of 2024. Total cost of deposits decreased 34 basis points compared to the second quarter of 2024.

    Non-interest income for the second quarter of 2025 increased $3.6 million compared to the second quarter of 2024 primarily due to increases in service charges on deposit accounts, trading income and other non-interest income, partially offset by the loss on sale of available-for-sale debt securities mentioned above.

    Non-interest expense for the second quarter of 2025 increased $1.9 million compared to the second quarter of 2024, primarily due to increases in salaries and benefits, occupancy expense and communications and technology expense, partially offset by a decrease in marketing expense.

    CREDIT QUALITY

    Net charge-offs of $13.0 million were recorded during the second quarter of 2025, compared to net charge-offs of $9.8 million and $12.0 million during the first quarter of 2025 and the second quarter of 2024, respectively. Criticized loans totaled $637.5 million at June 30, 2025, compared to $762.9 million at March 31, 2025 and $859.7 million at June 30, 2024. Non-accrual LHI totaled $113.6 million at June 30, 2025, compared to $93.6 million at March 31, 2025 and $85.0 million at June 30, 2024. The ratio of non-accrual LHI to total LHI for the second quarter of 2025 was 0.47%, compared to 0.42% for the first quarter of 2025 and 0.39% for the second quarter of 2024. The ratio of total allowance for credit losses to total LHI was 1.40% at June 30, 2025, compared to 1.48% and 1.44% at March 31, 2025 and June 30, 2024, respectively.

    REGULATORY RATIOS AND CAPITAL

    All regulatory ratios continue to be in excess of “well capitalized” requirements as of June 30, 2025. CET1, tier 1 capital, total capital and leverage ratios were 11.4%, 12.9%, 15.3% and 11.8%, respectively, at June 30, 2025, compared to 11.6%, 13.1%, 15.6% and 11.8%, respectively, at March 31, 2025 and 11.6%, 13.1%, 15.7% and 12.2%, respectively, at June 30, 2024. At June 30, 2025, our ratio of tangible common equity to total tangible assets was 10.1%, compared to 10.0% at March 31, 2025 and 9.6% at June 30, 2024.

    During the second quarter of 2025, the Company repurchased 317,860 shares of its common stock for an aggregate purchase price, including excise tax expense, of $21.0 million, at a weighted average price of $65.50 per share.

    About Texas Capital Bancshares, Inc.

    Texas Capital Bancshares, Inc. (NASDAQ®: TCBI), a member of the Russell 2000®Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank (“TCB”). Texas Capital is the collective brand name for TCB and its separate, non-bank affiliates and wholly-owned subsidiaries. Texas Capital is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs and individual customers. Founded in 1998, the institution is headquartered in Dallas with offices in Austin, Houston, San Antonio, and Fort Worth, and has built a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital has established commercial banking, consumer banking, investment banking and wealth management capabilities.

    Forward Looking Statements

    This communication contains “forward-looking statements” within the meaning of and pursuant to the Private Securities Litigation Reform Act of 1995 regarding, among other things, TCBI’s financial condition, results of operations, business plans and future performance. These statements are not historical in nature and may often be identified by the use of words such as “believes,” “projects,” “expects,” “may,” “estimates,” “should,” “plans,” “targets,” “intends” “could,” “would,” “anticipates,” “potential,” “confident,” “optimistic” or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy, objectives, estimates, trends, guidance, expectations and future plans.

    Because forward-looking statements relate to future results and occurrences, they are subject to inherent and various uncertainties, risks, and changes in circumstances that are difficult to predict, may change over time, are based on management’s expectations and assumptions at the time the statements are made and are not guarantees of future results. Numerous risks and other factors, many of which are beyond management’s control, could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. While there can be no assurance that any list of risks is complete, important risks and other factors that could cause actual results to differ materially from those contemplated by forward-looking statements include, but are not limited to: economic or business conditions in Texas, the United States or globally that impact TCBI or its customers; negative credit quality developments arising from the foregoing or other factors, including recent trade policies and their impact on our customers; TCBI’s ability to effectively manage its liquidity and maintain adequate regulatory capital to support its businesses; TCBI’s ability to pursue and execute upon growth plans, whether as a function of capital, liquidity or other limitations; TCBI’s ability to successfully execute its business strategy, including its strategic plan and developing and executing new lines of business and new products and services and potential strategic acquisitions; the extensive regulations to which TCBI is subject and its ability to comply with applicable governmental regulations, including legislative and regulatory changes; TCBI’s ability to effectively manage information technology systems, including third party vendors, cyber or data privacy incidents or other failures, disruptions or security breaches; TCBI’s ability to use technology to provide products and services to its customers; risks related to the development and use of artificial intelligence; changes in interest rates, including the impact of interest rates on TCBI’s securities portfolio and funding costs, as well as related balance sheet implications stemming from the fair value of our assets and liabilities; the effectiveness of TCBI’s risk management processes strategies and monitoring; fluctuations in commercial and residential real estate values, especially as they relate to the value of collateral supporting TCBI’s loans; the failure to identify, attract and retain key personnel and other employees; adverse developments in the banking industry and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments, including in the context of regulatory examinations and related findings and actions; negative press and social media attention with respect to the banking industry or TCBI, in particular; claims, litigation or regulatory investigations and actions that TCBI may become subject to; severe weather, natural disasters, climate change, acts of war, terrorism, global or other geopolitical conflicts, or other external events, as well as related legislative and regulatory initiatives; and the risks and factors more fully described in TCBI’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents and filings with the SEC. The information contained in this communication speaks only as of its date. Except to the extent required by applicable law or regulation, we disclaim any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments.

    TEXAS CAPITAL BANCSHARES, INC.
    SELECTED FINANCIAL HIGHLIGHTS (UNAUDITED)
    (dollars in thousands except per share data)
      2nd Quarter 1st Quarter 4th Quarter 3rd Quarter 2nd Quarter
        2025     2025     2024     2024     2024  
    CONSOLIDATED STATEMENTS OF INCOME          
    Interest income $ 439,567   $ 427,289   $ 437,571   $ 452,533   $ 422,068  
    Interest expense   186,172     191,255     207,964     212,431     205,486  
    Net interest income   253,395     236,034     229,607     240,102     216,582  
    Provision for credit losses   15,000     17,000     18,000     10,000     20,000  
    Net interest income after provision for credit losses   238,395     219,034     211,607     230,102     196,582  
    Non-interest income   54,069     44,444     54,074     (114,771 )   50,424  
    Non-interest expense   190,276     203,020     172,159     195,324     188,409  
    Income/(loss) before income taxes   102,188     60,458     93,522     (79,993 )   58,597  
    Income tax expense/(benefit)   24,860     13,411     22,499     (18,674 )   16,935  
    Net income/(loss)   77,328     47,047     71,023     (61,319 )   41,662  
    Preferred stock dividends   4,312     4,313     4,312     4,313     4,312  
    Net income/(loss) available to common stockholders $ 73,016   $ 42,734   $ 66,711   $ (65,632 ) $ 37,350  
    Diluted earnings/(loss) per common share $ 1.58   $ 0.92   $ 1.43   $ (1.41 ) $ 0.80  
    Diluted common shares   46,215,394     46,616,704     46,770,961     46,608,742     46,872,498  
    CONSOLIDATED BALANCE SHEET DATA          
    Total assets $ 31,943,535   $ 31,375,749   $ 30,731,883   $ 31,629,299   $ 29,854,994  
    Loans held for investment   18,035,945     17,654,243     17,234,492     16,764,512     16,700,569  
    Loans held for investment, mortgage finance   5,889,589     4,725,541     5,215,574     5,529,659     5,078,161  
    Loans held for sale   —     —     —     9,022     36,785  
    Interest bearing cash and cash equivalents   2,507,691     3,600,969     3,012,307     3,894,537     2,691,352  
    Investment securities   4,608,628     4,531,219     4,396,115     4,405,520     4,388,976  
    Non-interest bearing deposits   7,718,006     7,874,780     7,485,428     9,070,804     7,987,715  
    Total deposits   26,064,309     26,053,034     25,238,599     25,865,255     23,818,327  
    Short-term borrowings   1,250,000     750,000     885,000     1,035,000     1,675,000  
    Long-term debt   620,256     660,521     660,346     660,172     659,997  
    Stockholders’ equity   3,510,070     3,429,774     3,367,936     3,354,044     3,175,601  
               
    End of period shares outstanding   45,746,836     46,024,933     46,233,812     46,207,757     46,188,078  
    Book value per share $ 70.17   $ 68.00   $ 66.36   $ 66.09   $ 62.26  
    Tangible book value per share(1) $ 70.14   $ 67.97   $ 66.32   $ 66.06   $ 62.23  
    SELECTED FINANCIAL RATIOS          
    Net interest margin   3.35 %   3.19 %   2.93 %   3.16 %   3.01 %
    Return on average assets   0.99 %   0.61 %   0.88 % (0.78 )%   0.56 %
    Return on average assets, adjusted(4)   1.02 %   0.61 %   0.88 %   1.00 %   0.57 %
    Return on average common equity   9.17 %   5.56 %   8.50 % (8.87 )%   5.26 %
    Return on average common equity, adjusted(4)   9.48 %   5.56 %   8.50 %   10.04 %   5.31 %
    Efficiency ratio(2)   61.9 %   72.4 %   60.7 %   155.8 %   70.6 %
    Efficiency ratio, adjusted(2)(4)   61.1 %   72.4 %   60.7 %   62.3 %   70.4 %
    Non-interest income to average earning assets   0.72 %   0.60 %   0.69 % (1.52 )%   0.71 %
    Non-interest income to average earning assets, adjusted(4)   0.74 %   0.60 %   0.69 %   0.86 %   0.71 %
    Non-interest expense to average earning assets   2.52 %   2.75 %   2.21 %   2.59 %   2.65 %
    Non-interest expense to average earning assets, adjusted(4)   2.50 %   2.75 %   2.21 %   2.52 %   2.65 %
    Common equity to total assets   10.1 %   10.0 %   10.0 %   9.7 %   9.6 %
    Tangible common equity to total tangible assets(3)   10.1 %   10.0 %   10.0 %   9.7 %   9.6 %
    Common Equity Tier 1   11.4 %   11.6 %   11.4 %   11.2 %   11.6 %
    Tier 1 capital   12.9 %   13.1 %   12.8 %   12.6 %   13.1 %
    Total capital   15.3 %   15.6 %   15.4 %   15.2 %   15.7 %
    Leverage   11.8 %   11.8 %   11.3 %   11.4 %   12.2 %

    (1) Stockholders’ equity excluding preferred stock, less goodwill and intangibles, divided by shares outstanding at period end.
    (2) Non-interest expense divided by the sum of net interest income and non-interest income.
    (3) Stockholders’ equity excluding preferred stock, less goodwill and intangibles, divided by total assets, less goodwill and intangibles.
    (4) These adjusted measures are non-GAAP measures. Please refer to “GAAP to Non-GAAP Reconciliations” for the computations of these adjusted measures and the reconciliation of these non-GAAP measures to the most directly comparable GAAP measure.

    TEXAS CAPITAL BANCSHARES, INC.
    CONSOLIDATED BALANCE SHEETS (UNAUDITED)
    (dollars in thousands)
      June 30,
    2025    		 March 31,
    2025    		 December 31,
    2024    		 September 30,
    2024    		 June 30,
    2024
    Assets          
    Cash and due from banks $ 182,451   $ 201,504   $ 176,501   $ 297,048   $ 221,727  
    Interest bearing cash and cash equivalents   2,507,691     3,600,969     3,012,307     3,894,537     2,691,352  
    Available-for-sale debt securities   3,774,141     3,678,378     3,524,686     3,518,662     3,483,231  
    Held-to-maturity debt securities   761,907     779,354     796,168     812,432     831,513  
    Equity securities   68,692     71,679     75,261     74,426     74,232  
    Trading securities   3,888     1,808     —     —     —  
    Investment securities   4,608,628     4,531,219     4,396,115     4,405,520     4,388,976  
    Loans held for sale   —     —     —     9,022     36,785  
    Loans held for investment, mortgage finance   5,889,589     4,725,541     5,215,574     5,529,659     5,078,161  
    Loans held for investment   18,035,945     17,654,243     17,234,492     16,764,512     16,700,569  
    Less: Allowance for credit losses on loans   277,648     278,379     271,709     273,143     267,297  
    Loans held for investment, net   23,647,886     22,101,405     22,178,357     22,021,028     21,511,433  
    Premises and equipment, net   86,831     84,575     85,443     81,577     69,464  
    Accrued interest receivable and other assets   908,552     854,581     881,664     919,071     933,761  
    Goodwill and intangibles, net   1,496     1,496     1,496     1,496     1,496  
    Total assets $ 31,943,535   $ 31,375,749   $ 30,731,883   $ 31,629,299   $ 29,854,994  
               
    Liabilities and Stockholders’ Equity          
    Liabilities:          
    Non-interest bearing deposits $ 7,718,006   $ 7,874,780   $ 7,485,428   $ 9,070,804   $ 7,987,715  
    Interest bearing deposits   18,346,303     18,178,254     17,753,171     16,794,451     15,830,612  
    Total deposits   26,064,309     26,053,034     25,238,599     25,865,255     23,818,327  
    Accrued interest payable   14,120     25,270     23,680     18,679     23,841  
    Other liabilities   484,780     457,150     556,322     696,149     502,228  
    Short-term borrowings   1,250,000     750,000     885,000     1,035,000     1,675,000  
    Long-term debt   620,256     660,521     660,346     660,172     659,997  
    Total liabilities   28,433,465     27,945,975     27,363,947     28,275,255     26,679,393  
               
    Stockholders’ equity:          
    Preferred stock, $.01 par value, $1,000 liquidation value:          
    Authorized shares – 10,000,000          
    Issued shares(1)   300,000     300,000     300,000     300,000     300,000  
    Common stock, $.01 par value:          
    Authorized shares – 100,000,000          
    Issued shares(2)   517     517     515     515     515  
    Additional paid-in capital   1,065,083     1,060,028     1,056,719     1,054,614     1,050,114  
    Retained earnings   2,611,401     2,538,385     2,495,651     2,428,940     2,494,572  
    Treasury stock(3)   (354,000 )   (332,994 )   (301,842 )   (301,868 )   (301,868 )
    Accumulated other comprehensive loss, net of taxes   (112,931 )   (136,162 )   (183,107 )   (128,157 )   (367,732 )
    Total stockholders’ equity   3,510,070     3,429,774     3,367,936     3,354,044     3,175,601  
    Total liabilities and stockholders’ equity $ 31,943,535   $ 31,375,749   $ 30,731,883   $ 31,629,299   $ 29,854,994  
               
    (1) Preferred stock – issued shares   300,000     300,000     300,000     300,000     300,000  
    (2) Common stock – issued shares   51,747,305     51,707,542     51,520,315     51,494,260     51,474,581  
    (3) Treasury stock – shares at cost   6,000,469     5,682,609     5,286,503     5,286,503     5,286,503  
    TEXAS CAPITAL BANCSHARES, INC.        
    CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)        
    (dollars in thousands except per share data)        
      Three Months Ended June 30, Six Months Ended June 30,
        2025   2024   2025   2024
    Interest income        
    Interest and fees on loans $ 364,358   $ 345,251 $ 698,508   $ 676,130
    Investment securities   45,991     33,584   92,556     65,728
    Interest bearing cash and cash equivalents   29,218     43,233   75,792     97,588
    Total interest income   439,567     422,068   866,856     839,446
    Interest expense        
    Deposits   174,798     181,280   349,734     356,880
    Short-term borrowings   3,444     12,749   11,690     25,532
    Long-term debt   7,930     11,457   16,003     25,443
    Total interest expense   186,172     205,486   377,427     407,855
    Net interest income   253,395     216,582   489,429     431,591
    Provision for credit losses   15,000     20,000   32,000     39,000
    Net interest income after provision for credit losses   238,395     196,582   457,429     392,591
    Non-interest income        
    Service charges on deposit accounts   8,182     5,911   16,022     12,250
    Wealth management and trust fee income   3,730     3,699   7,694     7,266
    Brokered loan fees   2,398     2,131   4,347     4,042
    Investment banking and advisory fees   24,109     25,048   40,587     43,472
    Trading income   7,896     5,650   13,835     10,362
    Available-for-sale debt securities losses   (1,886 )   —   (1,886 )   —
    Other   9,640     7,985   17,914     14,351
    Total non-interest income   54,069     50,424   98,513     91,743
    Non-interest expense        
    Salaries and benefits   120,154     118,840   251,795     247,567
    Occupancy expense   12,144     10,666   22,988     20,403
    Marketing   3,624     5,996   8,633     12,032
    Legal and professional   11,069     11,273   26,058     27,468
    Communications and technology   24,314     22,013   47,956     43,127
    Federal Deposit Insurance Corporation insurance assessment   5,096     5,570   10,437     13,991
    Other   13,875     14,051   25,429     26,214
    Total non-interest expense   190,276     188,409   393,296     390,802
    Income before income taxes   102,188     58,597   162,646     93,532
    Income tax expense   24,860     16,935   38,271     25,728
    Net income   77,328     41,662   124,375     67,804
    Preferred stock dividends   4,312     4,312   8,625     8,625
    Net income available to common stockholders $ 73,016   $ 37,350 $ 115,750   $ 59,179
             
    Basic earnings per common share $ 1.59   $ 0.80 $ 2.52   $ 1.26
    Diluted earnings per common share $ 1.58   $ 0.80 $ 2.49   $ 1.25
    TEXAS CAPITAL BANCSHARES, INC.
    SUMMARY OF CREDIT LOSS EXPERIENCE
    (dollars in thousands)
      2nd Quarter 1st Quarter 4th Quarter 3rd Quarter 2nd Quarter
        2025     2025     2024     2024     2024  
    Allowance for credit losses on loans:          
    Beginning balance $ 278,379   $ 271,709   $ 273,143   $ 267,297   $ 263,962  
    Allowance established for acquired purchase credit deterioration loans   —     —     —     2,579     —  
    Loans charged-off:          
    Commercial   13,020     10,197     14,100     6,120     9,997  
    Commercial real estate   431     500     2,566     262     2,111  
    Consumer   —     —     —     30     —  
    Total charge-offs   13,451     10,697     16,666     6,412     12,108  
    Recoveries:          
    Commercial   486     483     4,562     329     153  
    Commercial real estate   —     413     18     —     —  
    Consumer   —     4     15     —     —  
    Total recoveries   486     900     4,595     329     153  
    Net charge-offs   12,965     9,797     12,071     6,083     11,955  
    Provision for credit losses on loans   12,234     16,467     10,637     9,350     15,290  
    Ending balance $ 277,648   $ 278,379   $ 271,709   $ 273,143   $ 267,297  
               
    Allowance for off-balance sheet credit losses:          
    Beginning balance $ 53,865   $ 53,332   $ 45,969   $ 45,319   $ 40,609  
    Provision for off-balance sheet credit losses   2,766     533     7,363     650     4,710  
    Ending balance $ 56,631   $ 53,865   $ 53,332   $ 45,969   $ 45,319  
               
    Total allowance for credit losses $ 334,279   $ 332,244   $ 325,041   $ 319,112   $ 312,616  
    Total provision for credit losses $ 15,000   $ 17,000   $ 18,000   $ 10,000   $ 20,000  
               
    Allowance for credit losses on loans to total loans held for investment   1.16 %   1.24 %   1.21 %   1.23 %   1.23 %
    Allowance for credit losses on loans to average total loans held for investment   1.19 %   1.29 %   1.22 %   1.24 %   1.27 %
    Net charge-offs to average total loans held for investment(1)   0.22 %   0.18 %   0.22 %   0.11 %   0.23 %
    Net charge-offs to average total loans held for investment for last 12 months(1)   0.18 %   0.18 %   0.19 %   0.20 %   0.22 %
    Total provision for credit losses to average total loans held for investment(1)   0.26 %   0.32 %   0.32 %   0.18 %   0.38 %
    Total allowance for credit losses to total loans held for investment   1.40 %   1.48 %   1.45 %   1.43 %   1.44 %

    (1) Interim period ratios are annualized.

    TEXAS CAPITAL BANCSHARES, INC.          
    NON-PERFORMING ASSETS, PAST DUE LOANS AND CRITICIZED LOANS      
    (dollars in thousands)          
      2nd Quarter 1st Quarter 4th Quarter 3rd Quarter 2nd Quarter
        2025     2025     2024     2024     2024  
    NON-PERFORMING ASSETS          
    Non-accrual loans held for investment $ 113,609   $ 93,565   $ 111,165   $ 88,960   $ 85,021  
    Non-accrual loans held for sale   —     —     —     —     —  
    Other real estate owned   —     —     —     —     —  
    Total non-performing assets $ 113,609   $ 93,565   $ 111,165   $ 88,960   $ 85,021  
               
    Non-accrual loans held for investment to total loans held for investment   0.47 %   0.42 %   0.50 %   0.40 %   0.39 %
    Total non-performing assets to total assets   0.36 %   0.30 %   0.36 %   0.28 %   0.28 %
    Allowance for credit losses on loans to non-accrual loans held for investment 2.4x 3.0x 2.4x 3.1x 3.1x
    Total allowance for credit losses to non-accrual loans held for investment 2.9x 3.6x 2.9x 3.6x 3.7x
               
    LOANS PAST DUE          
    Loans held for investment past due 90 days and still accruing $ 2,068   $ 791   $ 4,265   $ 5,281   $ 286  
    Loans held for investment past due 90 days to total loans held for investment   0.01 %   — %   0.02 %   0.02 %   — %
    Loans held for sale past due 90 days and still accruing $ —   $ —   $ —   $ —   $ 64  
               
    CRITICIZED LOANS          
    Criticized loans $ 637,462   $ 762,887   $ 713,951   $ 897,727   $ 859,671  
    Criticized loans to total loans held for investment   2.66 %   3.41 %   3.18 %   4.03 %   3.95 %
    Special mention loans $ 339,923   $ 484,165   $ 435,626   $ 579,802   $ 593,305  
    Special mention loans to total loans held for investment   1.42 %   2.16 %   1.94 %   2.60 %   2.72 %
    TEXAS CAPITAL BANCSHARES, INC.
    CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
    (dollars in thousands)
               
      2nd Quarter 1st Quarter 4th Quarter 3rd Quarter 2nd Quarter
        2025   2025 2024   2024   2024
    Interest income          
    Interest and fees on loans $ 364,358   $ 334,150 $ 340,388 $ 361,407   $ 345,251
    Investment securities   45,991     46,565   44,102   38,389     33,584
    Interest bearing deposits in other banks   29,218     46,574   53,081   52,737     43,233
    Total interest income   439,567     427,289   437,571   452,533     422,068
    Interest expense          
    Deposits   174,798     174,936   189,061   190,255     181,280
    Short-term borrowings   3,444     8,246   10,678   13,784     12,749
    Long-term debt   7,930     8,073   8,225   8,392     11,457
    Total interest expense   186,172     191,255   207,964   212,431     205,486
    Net interest income   253,395     236,034   229,607   240,102     216,582
    Provision for credit losses   15,000     17,000   18,000   10,000     20,000
    Net interest income after provision for credit losses   238,395     219,034   211,607   230,102     196,582
    Non-interest income          
    Service charges on deposit accounts   8,182     7,840   6,989   6,307     5,911
    Wealth management and trust fee income   3,730     3,964   4,009   4,040     3,699
    Brokered loan fees   2,398     1,949   2,519   2,400     2,131
    Investment banking and advisory fees   24,109     16,478   26,740   34,753     25,048
    Trading income   7,896     5,939   5,487   5,786     5,650
    Available-for-sale debt securities losses   (1,886 )   —   —   (179,581 )   —
    Other   9,640     8,274   8,330   11,524     7,985
    Total non-interest income   54,069     44,444   54,074   (114,771 )   50,424
    Non-interest expense          
    Salaries and benefits   120,154     131,641   97,873   121,138     118,840
    Occupancy expense   12,144     10,844   11,926   12,937     10,666
    Marketing   3,624     5,009   4,454   5,863     5,996
    Legal and professional   11,069     14,989   15,180   11,135     11,273
    Communications and technology   24,314     23,642   24,007   25,951     22,013
    Federal Deposit Insurance Corporation insurance assessment   5,096     5,341   4,454   4,906     5,570
    Other   13,875     11,554   14,265   13,394     14,051
    Total non-interest expense   190,276     203,020   172,159   195,324     188,409
    Income/(loss) before income taxes   102,188     60,458   93,522   (79,993 )   58,597
    Income tax expense/(benefit)   24,860     13,411   22,499   (18,674 )   16,935
    Net income/(loss)   77,328     47,047   71,023   (61,319 )   41,662
    Preferred stock dividends   4,312     4,313   4,312   4,313     4,312
    Net income/(loss) available to common shareholders $ 73,016   $ 42,734 $ 66,711 $ (65,632 ) $ 37,350
    TEXAS CAPITAL BANCSHARES, INC.
    TAXABLE EQUIVALENT NET INTEREST INCOME ANALYSIS (UNAUDITED)(1)
    (dollars in thousands)
      2nd Quarter 2025   1st Quarter 2025   2nd Quarter 2024   YTD June 30, 2025   YTD June 30, 2024
      Average
    Balance    		 Income/
    Expense    		 Yield/
    Rate    		   Average
    Balance    		 Income/
    Expense    		 Yield/
    Rate    		   Average
    Balance    		 Income/
    Expense    		 Yield/
    Rate    		   Average
    Balance    		 Income/
    Expense    		 Yield/
    Rate    		   Average
    Balance    		 Income/
    Expense    		 Yield/
    Rate
    Assets                                      
    Investment securities(2) $ 4,573,164 $ 45,999 3.93 %   $ 4,463,876 $ 46,565 4.10 %   $ 4,427,023 $ 33,584 2.80 %   $ 4,518,822 $ 92,564 4.01 %   $ 4,363,195 $ 65,728 2.79 %
    Interest bearing cash and cash equivalents   2,661,037   29,218 4.40 %     4,255,796   46,574 4.44 %     3,273,069   43,233 5.31 %     3,454,011   75,792 4.43 %     3,662,348   97,588 5.36 %
    Loans held for sale   —   — — %     335   2 2.97 %     28,768   683 9.55 %     167   2 2.97 %     39,966   1,867 9.40 %
    Loans held for investment, mortgage finance   5,327,559   58,707 4.42 %     3,972,106   38,527 3.93 %     4,357,288   42,722 3.94 %     4,653,577   97,234 4.21 %     3,937,498   74,177 3.79 %
    Loans held for investment(3)   18,018,626   306,142 6.81 %     17,527,070   296,091 6.85 %     16,750,788   301,910 7.25 %     17,774,206   602,233 6.83 %     16,636,438   600,216 7.26 %
    Less: Allowance for credit losses on loans   278,035   — — %     272,758   — —       263,145   — — %     275,411   — —       256,541   — —  
    Loans held for investment, net   23,068,150   364,849 6.34 %     21,226,418   334,618 6.39 %     20,844,931   344,632 6.65 %     22,152,372   699,467 6.37 %     20,317,395   674,393 6.68 %
    Total earning assets   30,302,351   440,066 5.80 %     29,946,425   427,759 5.76 %     28,573,791   422,132 5.86 %     30,125,372   867,825 5.78 %     28,382,904   839,576 5.87 %
    Cash and other assets   1,117,118         1,157,184         1,177,061         1,137,040         1,117,763    
    Total assets $ 31,419,469       $ 31,103,609       $ 29,750,852       $ 31,262,412       $ 29,500,667    
                                           
    Liabilities and Stockholders’ Equity                                      
    Transaction deposits $ 2,213,037 $ 13,731 2.49 %   $ 2,163,250 $ 13,908 2.61 %   $ 2,061,622 $ 16,982 3.31 %   $ 2,188,282 $ 27,639 2.55 %   $ 2,034,057 $ 33,840 3.35 %
    Savings deposits   13,727,095   134,272 3.92 %     13,357,243   133,577 4.06 %     11,981,668   143,173 4.81 %     13,543,190   267,849 3.99 %     11,695,673   279,963 4.81 %
    Time deposits   2,361,525   26,795 4.55 %     2,329,384   27,451 4.78 %     1,658,899   21,125 5.12 %     2,345,543   54,246 4.66 %     1,689,112   43,077 5.13 %
    Total interest bearing deposits   18,301,657   174,798 3.83 %     17,849,877   174,936 3.97 %     15,702,189   181,280 4.64 %     18,077,015   349,734 3.90 %     15,418,842   356,880 4.65 %
    Short-term borrowings   306,176   3,444 4.51 %     751,500   8,246 4.45 %     927,253   12,749 5.53 %     527,608   11,690 4.47 %     919,670   25,532 5.58 %
    Long-term debt   649,469   7,930 4.90 %     660,445   8,073 4.96 %     778,401   11,457 5.92 %     654,927   16,003 4.93 %     818,955   25,443 6.25 %
    Total interest bearing liabilities   19,257,302   186,172 3.88 %     19,261,822   191,255 4.03 %     17,407,843   205,486 4.75 %     19,259,550   377,427 3.95 %     17,157,467   407,855 4.78 %
    Non-interest bearing deposits   8,191,402         7,875,244         8,647,594         8,034,196         8,642,685    
    Other liabilities   475,724         552,154         537,754         513,728         523,520    
    Stockholders’ equity   3,495,041         3,414,389         3,157,661         3,454,938         3,176,995    
    Total liabilities and stockholders’ equity $ 31,419,469       $ 31,103,609       $ 29,750,852       $ 31,262,412       $ 29,500,667    
    Net interest income   $ 253,894       $ 236,504       $ 216,646       $ 490,398       $ 431,721  
    Net interest margin     3.35 %       3.19 %       3.01 %       3.27 %       3.02 %

    (1) Taxable equivalent rates used where applicable.
    (2) Yields on investment securities are calculated using available-for-sale securities at amortized cost.
    (3) Average balances include non-accrual loans.

    GAAP TO NON-GAAP RECONCILIATIONS

    The following items are non-GAAP financial measures: adjusted non-interest income, adjusted non-interest expense, adjusted net income, adjusted net income available to common stockholders, adjusted pre-provision net revenue (“PPNR”), adjusted diluted earnings/(loss) per common share, adjusted return on average assets, adjusted return on average common equity, adjusted efficiency ratio, adjusted non-interest income to average earning assets and adjusted non-interest expense to average earning assets. These are not measures recognized under GAAP and therefore are considered non-GAAP financial measures. The table below provides a reconciliation of these non-GAAP financial measures to the most comparable GAAP measures.

    These non-GAAP financial measures are adjusted for certain items, listed below, that management believes are non-operating in nature and not representative of its actual operating performance. Management believes that these non-GAAP financial measures provide meaningful additional information about Texas Capital Bancshares, Inc. to assist management and investors in evaluating operating results, financial strength, business performance and capital position. Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied and are not audited. As such, these non-GAAP financial measures should not be considered in isolation or as a substitute for analyses of operating results or capital position as reported under GAAP.

    Reconciliation of Non-GAAP Financial Measures      
    (dollars in thousands except per share data) 2nd Quarter
    2025    		 1st Quarter
    2025    		 4th Quarter
    2024    		 3rd Quarter
    2024    		 2nd Quarter
    2024
    Net interest income $ 253,395   $ 236,034   $ 229,607   $ 240,102   $ 216,582  
               
    Non-interest income   54,069     44,444     54,074     (114,771 )   50,424  
    Available-for-sale debt securities losses, net   1,886     —     —     179,581     —  
    Non-interest income, adjusted   55,955     44,444     54,074     64,810     50,424  
               
    Non-interest expense   190,276     203,020     172,159     195,324     188,409  
    FDIC special assessment   —     —     —     651     (462 )
    Restructuring expenses   (1,401 )   —     —     (5,923 )   —  
    Non-interest expense, adjusted   188,875     203,020     172,159     190,052     187,947  
               
    Provision for credit losses   15,000     17,000     18,000     10,000     20,000  
               
    Income tax expense/(benefit)   24,860     13,411     22,499     (18,674 )   16,935  
    Tax effect of adjustments   774     —     —     44,880     104  
    Income tax expense/(benefit), adjusted   25,634     13,411     22,499     26,206     17,039  
               
    Net income/(loss)(1) $ 77,328   $ 47,047   $ 71,023   $ (61,319 ) $ 41,662  
    Net income/(loss), adjusted(1) $ 79,841   $ 47,047   $ 71,023   $ 78,654   $ 42,020  
               
    Preferred stock dividends   4,312     4,313     4,312     4,313     4,312  
               
    Net income/(loss) to common stockholders(2) $ 73,016   $ 42,734   $ 66,711   $ (65,632 ) $ 37,350  
    Net income/(loss) to common stockholders, adjusted(2) $ 75,529   $ 42,734   $ 66,711   $ 74,341   $ 37,708  
               
    PPNR(3) $ 117,188   $ 77,458   $ 111,522   $ (69,993 ) $ 78,597  
    PPNR(3), adjusted $ 120,475   $ 77,458   $ 111,522   $ 114,860   $ 79,059  
               
    Weighted average common shares outstanding, diluted   46,215,394     46,616,704     46,770,961     46,608,742     46,872,498  
    Diluted earnings/(loss) per common share $ 1.58   $ 0.92   $ 1.43   $ (1.41 ) $ 0.80  
    Diluted earnings/(loss) per common share, adjusted $ 1.63   $ 0.92   $ 1.43   $ 1.59   $ 0.80  
               
    Average total assets $ 31,419,469   $ 31,103,609   $ 32,212,087   $ 31,215,173   $ 29,750,852  
    Return on average assets   0.99 %   0.61 %   0.88 % (0.78 )%   0.56 %
    Return on average assets, adjusted   1.02 %   0.61 %   0.88 %   1.00 %   0.57 %
               
    Average common equity $ 3,195,041   $ 3,114,389   $ 3,120,933   $ 2,945,238   $ 2,857,661  
    Return on average common equity   9.17 %   5.56 %   8.50 % (8.87 )%   5.26 %
    Return on average common equity, adjusted   9.48 %   5.56 %   8.50 %   10.04 %   5.31 %
               
    Efficiency ratio(4)   61.9 %   72.4 %   60.7 %   155.8 %   70.6 %
    Efficiency ratio, adjusted(4)   61.1 %   72.4 %   60.7 %   62.3 %   70.4 %
               
    Average earning assets $ 30,302,351   $ 29,946,425   $ 31,033,803   $ 29,975,318   $ 28,573,791  
    Non-interest income to average earning assets   0.72 %   0.60 %   0.69 % (1.52 )%   0.71 %
    Non-interest income to average earning assets, adjusted   0.74 %   0.60 %   0.69 %   0.86 %   0.71 %
    Non-interest expense to average earning assets   2.52 %   2.75 %   2.21 %   2.59 %   2.65 %
    Non-interest expense to average earning assets, adjusted   2.50 %   2.75 %   2.21 %   2.52 %   2.65 %

    (1) Net interest income plus non-interest income, less non-interest expense, provision for credit losses and income tax expense/(benefit). On an adjusted basis, net interest income plus non-interest income, adjusted, less non-interest expense, adjusted, provision for credit losses and income tax expense/(benefit), adjusted.
    (2) Net income/(loss), less preferred stock dividends. On an adjusted basis, net income/(loss), adjusted, less preferred stock dividends.
    (3) Net interest income plus non-interest income, less non-interest expense. On an adjusted basis, net interest income plus non-interest income, adjusted, less non-interest expense, adjusted.
    (4) Non-interest expense divided by the sum of net interest income and non-interest income. On an adjusted basis, non-interest expense, adjusted, divided by the sum of net interest income and non-interest income, adjusted.

    The MIL Network –

  • MIL-OSI: More than 1 in 4 Canadians (27%) Say They Can’t Pay All Their Bills at a Time When Millions Face Mortgage Rate Increases – TransUnion Study  

    Source: GlobeNewswire (MIL-OSI)

    • 44% of Canadians surveyed say they plan to cut discretionary spending.
    • Among Canadians who said they don’t anticipate being able to pay all their bills and loans in full, 68% said it’s their credit card payments they won’t be able to make.
    • While 46% of Canadians said they were targeted by fraud in the last three months, 37% reported taking no action in response to cybersecurity concerns.
    • Over half (53%) of Gen X Canadians feel their financial situation is worse than planned, compared to only 30% of Gen Z.

    TORONTO, July 17, 2025 (GLOBE NEWSWIRE) — As Canadians continue to navigate economic uncertainty, many are adjusting their financial behaviours in response to affordability pressures and rising costs. According to TransUnion’s (NYSE: TRU) Q2 2025 Canada Consumer Pulse Study1, 51% of Canadians surveyed had a recession in their top three household financial concerns over the next six months, and nearly half of all surveyed (44%) plan to reduce discretionary spending in the next three months. Canadians are also shifting to thriftier shopping options – 63% said they look for sales and discounts more frequently, 40% shop more frequently at more affordable retailers, and 31% use more coupons. These changes come at a time when over a quarter (27%) of Canadians say they won’t be able to pay all their current bills and loans in full and millions of Canadians’ mortgage payments face potential repayment increases.

    Among Canadians who said they won’t be able to pay of their bills, 68% reported they won’t be able to pay off their total credit card payments. This could be due to these consumers prioritizing other credit payments, like mortgages. Despite the overall inflation rate returning to the Bank of Canada’s target, 96% of Canadians remain concerned about the current rate of inflation and the vast majority (83%) of all surveyed Canadian consumers had inflation in their top three household financial concerns over the next six months.

    “Canadians are navigating a challenging financial landscape, with many adjusting their spending and prioritizing bill payments in response to rising costs and economic uncertainty,” said Matt Fabian, director of financial services research and consulting at TransUnion Canada. “Our latest Consumer Pulse data shows that affordability concerns are top of mind, and many are taking proactive steps to stay financially resilient.”

    Mortgage Renewal Stress Drives Payment Shock and Shifts in Financial Priorities
    Additional research from TransUnion Canada shows that mortgage renewal stress is a key factor contributing to financial strain. As Canadians who purchased homes during the COVID-19 pandemic – when interest rates were at historic lows – begin renewing their mortgages, many are facing significantly higher payments, resulting in payment shock. This financial pressure is particularly evident among Gen X Canadians, with over half (53%) saying in the latest Consumer Pulse Study that their financial situation is worse than planned, the highest by far than any other generation surveyed.

    According to The Bank of Canada’s Financial Stability Report – 2025, around 60% of Canadians’ mortgages are up for renewal in 2025 or 2026. TransUnion’s analysis shows that many of those who purchased homes during the COVID-19 pandemic – when interest rates were at historic lows – are now facing higher interest rates as they begin renewing their mortgages. The Consumer Pulse data suggests that this is leading to payment shock, a significant and often expected increase in debt payments.

    TransUnion analysis shows that since March 2022, over two million consumers have experienced an increase in monthly mortgage payments, with the average monthly mortgage payment for these consumers increasing by 25% in the last three years from $1,527 in March 2022 to $1,908 in March 2025.

    Consumers whose monthly mortgage payments have increased by 25% or more are also accumulating greater credit card debt – more than double the rate of those who did not have an increase in their mortgage payment. Overall, Canadians are prioritizing making mortgage payments over other credit obligations, which is leading to higher delinquencies.

    Uncertainty and continued high interest rates have most likely negatively impacted mortgage demand. Nearly three-quarters (72%) of Canadians indicated in the latest Consumer Pulse Study that they are not considering purchasing a home in the next year. This may point to many consumers may be continuing to hold out for interest rate relief from the Bank of Canada.

    “We’re at a critical moment where many Canadians who took on mortgages during the pandemic—when interest rates were at historic lows—are now facing rising payments and affordability pressures,” said Fabian. “With nearly CA$1.8 trillion in outstanding mortgage balances and 60% of mortgage holders up for renewal by 2026, millions could experience payment shock. Yet, despite these challenges, Canadians continue to demonstrate financial resilience—adapting their spending habits, prioritizing bill payments, and taking steps to help recession-proof their finances.”

    Consumers Wary of Carrying Debt and Shift Shopping Habits as Economic Volatility Persists
    Economic volatility has remained top of mind for many Canadians as over half (51%) in the Q2 2025 Consumer Pulse Study cite a recession as one of their top three financial concerns in the next six months. This uncertainty has continued to limit credit participation among Canadians of all generations, with nearly a third (30%) of all surveyed saying they are uncomfortable with owning credit products.

    In effort to balance their household budgets and remain financially resilient, 74% of Canadians who said we’re currently in a recession or will be in one by the end of Q2 reported they plan on reducing their spending in order to prepare for one. Among all Canadians surveyed, many said they adjusted their shopping habits in the last three months, including:

    • Looking more frequently for sales and discounts (63%)
    • Buying more generic or store brands (41%)
    • Shopping more frequently at affordable retailers (40%)
    • Shopping at retailers with loyalty programs more often (33%)
    • Using more coupons (31%)
    • Taking advantage of credit card offers for special discounts more often (16%)

    To curb spending, Canadians are making various cutbacks, such as digital subscriptions, with 25% reporting they cancelled a subscription or membership in the past three months.

    Fraud Awareness Remains High, but Nearly 4 in 10 Canadians are Taking No Action
    Canadians remain aware of fraud risks and nearly half (46%) of those TransUnion surveyed reported being targeted by email, online, phone call or text message fraud attempts in the past three months. Despite these risks, the Consumer Pulse data indicates that over a third (37%) of Canadians said they took no action in the last 60 days in response to cybersecurity concerns. Of these individuals, 44% said they did nothing because they were unsure of what actions to take.

    About TransUnion (NYSE: TRU)
    TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries, including Canada, where we’re the credit bureau of choice for the financial services ecosystem and most of Canada’s largest banks. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this by providing an actionable view of consumers, stewarded with care.

    Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.

    For more information visit: transunion.ca

    For more information or to request an interview, contact:

    Contact: Katie Duffy
    E-mail: katie.duffy@ketchum.com
    Telephone: +1 647-772-0969

    1 TransUnion’s Consumer Pulse Survey of 982 adults was conducted May 5–18, 2025

    The MIL Network –

  • MIL-OSI Banking: Secretary-General of ASEAN to welcome Foreign Minister of Indonesia to the ASEAN Headquarters/ASEAN Secretariat

    Source: ASEAN – Association of SouthEast Asian Nations

    At the invitation of H.E. Dr. Kao Kim Hourn, Secretary-General of ASEAN, H.E. Sugiono, Minister of Foreign Affairs of the Republic of Indonesia, will undertake his first official visit to the ASEAN Headquarters/ASEAN Secretariat, on 18 July 2025. H.E. Sugiono will have a guided tour of the premises, including the historic Heritage Building, and will hold a meeting with SG Dr. Kao Kim Hourn. There will also be a meet-and-greet between H.E. Sugiono and the Permanent Representatives to ASEAN, the Ambassador of Timor-Leste to ASEAN, and dedicated Ambassadors to ASEAN. This visit underscores Indonesia’s continued commitment to strengthening ASEAN and its institutions.
    The post Secretary-General of ASEAN to welcome Foreign Minister of Indonesia to the ASEAN Headquarters/ASEAN Secretariat appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI United Kingdom: Cyfamod y Gymdeithas Sifil: Cyngor Dinas Belfast

    Source: United Kingdom – Executive Government & Departments

    Case study

    Cyfamod y Gymdeithas Sifil: Cyngor Dinas Belfast

    Rhaglen Dinasyddion Creadigol Belfast 2024.

    | Yn 2020 cyhoeddodd Cyngor Dinas Belfast strategaeth ddiwylliannol 10 mlynedd oedd wedi’i gyd-ddylunio, A City Imagining, er mwyn datblygu “a people-focused approach to cultural development by facilitating citizen, community and creative, cultural and heritage sector participation”. Yn y strategaeth roedd yna gynlluniau ar gyfer digwyddiad diwylliant, Belfast 2024, sef prosiect “sbarduno” blwyddyn o hyd a fwriadwyd i roi gwerthoedd y strategaeth ar waith, gan ymgysylltu’n uniongyrchol â chymunedau o fewn y strategaeth, a sadio’r momentwm tuag at greadigrwydd fel grym ar gyfer datblygu dinesig a rhanbarthol. Un peth oedd yn ganolog i Belfast 2024 oedd y rhaglen Dinasyddion Creadigol, sef ymgysylltiad cyhoeddus helaeth a pharhaus nid yn unig i gyd-ddylunio’r rhaglen, y themâu a’r gweithgareddau am y flwyddyn, ond i rymuso dinasyddion a chymunedau mewn gwirionedd. Trwy ddull cyllidebu cyfranogol o’r enw The Bank of Ideas, y dinasyddion oedd yn penderfynu’n uniongyrchol ar ddyrannu’r gyllideb, gan gynnig a dewis prosiectau creadigol ar gyfer y ddinas. Yn ogystal â throsglwyddo’r pŵer i wneud penderfyniadau, roedd y cynllun yn anelu at leihau’r rhwystrau oedd yn atal mynediad at gyllid er mwyn i ystod ehangach o ddinasyddion, grwpiau cymunedol a sefydliadau eraill gymryd rhan.

    Yn fersiwn gyntaf y cynllun yn 2024, cyflwynwyd 93 o syniadau i’r cyhoedd mewn diwrnod pleidleisio yn Neuadd y Ddinas, gyda mwy na 2000 o bleidleiswyr yn penderfynu beth ddylai fynd yn ei flaen. O ganlyniad, cynhaliwyd 28 o brosiectau a drefnwyd gan grwpiau cymunedol, mudiadau gwirfoddol a phractisau creadigol bach mewn cymunedau a chymdogaethau ledled Belfast.  Roedd y prosiectau’n cynnwys carnifal amrywiaeth, llyfrgell deithiol, theatr ryngweithiol aml-synhwyraidd i blant ag anableddau, a phrosiectau bioamrywiaeth oedd yn defnyddio creadigrwydd fel offeryn ar gyfer addysg gymunedol. Roedd y prosiectau hyn yn helpu dinasyddion a grwpiau ymylol i ddod yn fwy cysylltiedig â chymunedau lleol.

    Mae’r ymagwedd a gymerwyd gan y ddinas, sef creu’r amodau ar gyfer cyfranogiad gweithredol yn y gymdeithas trwy wrando, ymateb a grymuso cymunedau lleol, wedi cael ei chydnabod yn lleol ac yn rhyngwladol, gan ennill Gwobr Ymgysylltu Cymunedol Gwobrau Llywodraeth NILocal yn 2025 a chael ei chydnabod gan reithgor rhyngwladol Llywodraethau Lleol Dinasoedd Unedig fel yr arferion gorau o dan Agenda 21 y Cenhedloedd Unedig ar gyfer Diwylliant.

    Updates to this page

    Published 17 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: 16 year olds to be given right to vote through seismic government election reforms

    Source: United Kingdom – Executive Government & Departments

    Press release

    16 year olds to be given right to vote through seismic government election reforms

    Sixteen year olds will be given the right to vote in all UK elections as part of seismic changes to modernise UK democracy

    • Modernisation of UK democracy will see 16 and 17 year olds able to vote in next general election
    • Voter ID to be extended to include bank cards to help more people exercise their democratic right
    • Tougher new rules to guard against foreign political interference and abuse of campaigners

    Sixteen year olds will be given the right to vote in all UK elections as part of seismic changes to modernise UK democracy, delivering a key manifesto commitment and helping to restore trust in politics through our Plan for Change.         

    This will mean young people, who already contribute to society by working, paying taxes and serving in the military, will be given the right to vote on the issues that affect them. This will bring UK-wide elections in line with Scotland and Wales and is a major step towards meeting a manifesto commitment, ushering in the biggest change to UK democracy in a generation. 

    The plans, published today [17 July] in a new strategy paper, will boost democratic engagement in a changing world, and help to restore trust in UK democracy.     

    As part of the plans, the government is going further to make sure eligible voters are not deterred from voting, by expanding voter ID to permit the use of UK-issued bank cards as an accepted form of ID at the polling station. This is alongside harnessing more digital options to support voters and polling station staff, including allowing accepted IDs such as the Veteran Card and UK driving licence to be used at polling stations when they become available in digital format.  

    A new digital Voter Authority Certificate will also be created to ensure Electoral Registration Officers can meet the digital needs of voters, reduce printing costs and ensure faster delivery.  

    An increasingly automated voter registration system will also make it easier for people to register to vote and reduce the need to fill out their details across different government services on multiple occasions.      

    Major new changes will boost transparency and accountability in politics by closing loopholes that would allow foreign donors via ‘shell companies’ to influence UK political parties. Meanwhile, new requirements on unincorporated associations will mandate checks on donations over £500 to tackle foreign interference and protect UK democracy from those who attempt to undermine it.   

    Alongside this, the reforms will allow the Electoral Commission to take action and enforce heavier fines of up to £500,000 on those who breach political finance rules, and enable tougher sentences for those who abuse election campaigners – stabilising the foundations of UK democracy.     

    Deputy Prime Minister, Angela Rayner said:       

    “For too long public trust in our democracy has been damaged and faith in our institutions has been allowed to decline.       

    “We are taking action to break down barriers to participation that will ensure more people have the opportunity to engage in UK democracy, supporting our Plan for Change, and delivering on our manifesto commitment to give sixteen year olds the right to vote.   

    “We cannot take our democracy for granted, and by protecting our elections from abuse and boosting participation we will strengthen the foundations of our society for the future.”       

    Minister for Democracy, Rushanara Ali, said:    

    “We are modernising our democracy, so that it is fit for the 21st century. By delivering our manifesto commitment to extend the vote to 16 and 17 year olds, we are taking a generational step forward in restoring public trust and boosting engagement in UK democracy, supporting our Plan for Change.    

    “By reinforcing safeguards against foreign interference, we will strengthen our democratic institutions and protect them for future generations.”   

    Alongside expanding the right to vote, we are going further to restore and maintain public trust by ensuring elections are as accessible as possible for legitimate voters.      

    That’s why the government is making common sense changes to move towards an automated electoral registration system, stripping complexities and barriers for voters to make their lives easier. Learning from countries such as Australia and Canada, which have high rates of legitimate voter registration via automated systems, the government will bring the UK’s democracy into the 21st century.    

    At the same time, far too many people are being deterred from voting because of voter ID rules, with the Electoral Commission finding that 4% of non-voters at the 2024 General Election saying that a lack of voter ID was a key reason they didn’t vote, equating to around three quarters of a million people across Great Britain.   

    Boosting participation is crucial to restoring faith in democracy, and adding the Veteran ID card last year to the accepted forms of Voter ID was just the start of this. Through the new plans, the government is going further to allow UK-issued bank cards to be used as ID when voting, making it far easier for more voters to meet the requirements.     

    This change will allow us to continue to protect the integrity of the UK electoral system, while allowing greater accessibility. Bank cards, which are issued after the applicant has passed necessary security checks for a bank account, will add a widely and commonly carried item to the range of documents already accepted. Research on the ownership of bank cards shows that over 96% of the UK population has a bank account, with the majority expected to also have a bank card.   

    These measures will strike the right balance by continuing to protect voters from the risk of impersonation, while also removing barriers to ensure legitimate voters are not prevented or discouraged from exercising their right to vote.      

    Another key aspect of the reforms is ensuring UK democracy is protected and all voters, candidates, campaigners and electoral staff are safe from intimidation, harassment and abuse.    

    This behaviour is on the rise, particularly against women and ethnic minorities – with recent Electoral Commission research showing 55% of candidates at the 2024 General Election experienced abuse. The reforms will crack down on these unacceptable practices, delivering tougher sentences for those who intimidate campaigners and stronger protections for candidates in public life by removing the requirement for their home address to be published and openly available.    

    This supports ongoing work including through the Defending Democracy Taskforce, which was given a new mandate by the Prime Minister to coordinate and drive forward government’s response to the full range of threats to UK democracy.    

    That includes working across government with the police, parliamentary authorities, and the Electoral Commission to actively review our levers to tackle the harassment and intimidation of elected representatives, candidates, and electoral staff.  

    In relation to political finance, the changes being brought by the government will effectively meet an evolving and sophisticated threat of illicit money being funnelled from abroad to political parties. Tough new rules will ensure that in the future, ‘shell companies’ will not be permitted to make political donations to UK political parties.  

    This will end the status quo, where a new company registered today, owned by anyone, funded from anywhere, without even a single day of trade, can donate and have influence in UK politics.     

    The introduction of ‘Know your Donor’ checks will increase scrutiny of donations, requiring recipients to conduct enhanced checks to decrease the risk of illegitimate donations entering our system, guarding against foreign interference. This will close loopholes, reinforce our democracy and protect our citizens from those who seek to undermine and harm our society.    

    Further information:      

    • To deliver these changes, we will bring forward an elections bill. The bill will deliver the Government’s manifesto commitments and wider ambitions set out in this Strategy by putting in place the legislation required for these important reforms.
    • A subsequent programme of secondary legislation will set out the detail for implementation and we will provide more detail on implementation timings in due course.

    Updates to this page

    Published 17 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Africa: Financing Africa’s Minerals: Momentum Builds Ahead of African Mining Week (AMW) 2025

    Source: APO – Report:

    .

    International finance institutions are playing an increasingly pivotal role in Africa’s mining sector, providing essential capital and technical support to unlock the continent’s vast mineral potential. Last month, Angola became a sovereign shareholder in the Africa Finance Corporation (AFC) through a $184.8 million equity investment. This milestone builds on over $1 billion in AFC financing that Angola has already received, including for the Lobito Corridor – an integrated logistics project connecting Angola, Zambia and the Democratic Republic of Congo.

    Institutions such as the International Finance Corporation (IFC), African Development Bank (AfDB) and European Bank for Reconstruction and Development (ERBD) are actively funding mining projects throughout the continent. As such, the upcoming African Mining Week (AMW) – Africa’s premier gathering for mining stakeholders, scheduled for October 1-3, 2025, in Cape Town – will showcase strategic moves by African mineral-rich countries to enhance cooperation with global financiers. A dedicated panel titled The Investor Perspective – Financing Africa’s Mineral Industrialization will discuss the investment landscape for African mineral industrialization.

    Algeria officially joined the New Development Bank – a multilateral institution founded by BRICS countries – in May this year, enhancing the country’s access to capital and technical support for its oil, gas and mineral industries. That same month, Benin, Ivory Coast – one of Africa’s largest gold producers – and Nigeria were designated as recipient countries by the EBRD, broadening their access to energy and mining project funding.

    Meanwhile, Ghana – Africa’s largest gold producer – recently joined Nigeria and Angola in completing their capital contributions to the forthcoming Africa Energy Bank. Spearheaded by the African Petroleum Producers Organization and African Export-Import Bank (Afreximbank), the bank will serve as a dedicated financing institution for African extractive sector projects.

    In March 2025, Somalia also became the 53rd member of Afreximbank, a move expected to unlock new financing channels for the country’s gold mining and trade-related developments. In 2024, the Ivory Coast and Botswana – the world’s largest diamond producer – joined the AFC as sovereign shareholders, while Libya became the 53rd member of Afreximbank.

    In line with growing efforts to align financial innovation with mineral sector development, the AfDB approved a $150 million senior loan to Mauritania’s state-owned mining firm, Société Nationale Industrielle et Minière (SNIM). The funding supports a $467 million logistics expansion program aimed at doubling SNIM’s iron ore railway transport capacity by 2030 and scaling up production of higher value-added products like iron ore pellets. The project integrates renewable energy through the construction of a 12 MW solar plant and includes climate resilience measures backed by the Africa Adaptation Acceleration Program.

    Amidst these developments, AMW connects African policymakers with global investors to strengthen existing and forge new investment partnerships aimed at unlocking the continents full potential of its extractive sector.

    – on behalf of Energy Capital & Power.

    MIL OSI Africa –

  • MIL-OSI United Kingdom: Civil Society Covenant: Belfast City Council

    Source: United Kingdom – Executive Government & Departments

    Case study

    Civil Society Covenant: Belfast City Council

    Belfast 2024’s Creative Citizens programme.

    In 2020 Belfast City Council published a co-designed 10 year cultural strategy, A City Imagining, to develop “a people-focused approach to cultural development by facilitating citizen, community and creative, cultural and heritage sector participation”. In the strategy were plans for a culture event, Belfast 2024 – a year-long “accelerator” project designed to implement the values of the strategy, directly engage communities within the strategy, and galvanise momentum for creativity as a force for city and regional development. 

    Participatory budgeting

    Central to Belfast 2024 was the Creative Citizens programme, an extensive and ongoing public engagement to not only co-design the year long programme, themes and activities, but to really empower citizens and communities. Through a participatory budgeting approach called The Bank of Ideas, citizens directly decided on the allocation of a budget, proposing and collectively choosing creative projects for the city. As well as handing over decision-making power, the aim of the scheme was to reduce barriers to accessing funding so that a greater range of citizens, community groups and other organisations could participate. 

    Projects supporting citizens

    At the first iteration of the scheme in 2024, 93 ideas were presented to the public at a voting day in City Hall, with over 2000 voters deciding what to take forward. As a result, 28 projects organised by community groups, voluntary organisations and small creative practices took place in communities and neighbourhoods right across Belfast. 

    Projects included a diversity carnival, a touring library, a multi-sensory interactive theatre for children with disability, and biodiversity projects that used creativity as a tool for community education. These projects supported citizens and marginalised groups to become more connected to local communities. 

    Outcomes

    The approach taken by the city, creating the conditions for active participation in society through listening, responding and empowering local communities, has been recognised locally and internationally; winning the NILocal Government Awards Engaging Community Award in 2025 and recognised by United Cities Local Governments international jury as best practice of the UN Agenda 21 for Culture.

    Updates to this page

    Published 17 July 2025

    MIL OSI United Kingdom –

  • PM to visit Bihar and West Bengal; inaugurate key infrastructure projects

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi will visit Bihar and West Bengal on Friday to launch a series of development projects worth over ₹12,000 crore, aimed at strengthening infrastructure, connectivity, and socio-economic growth in the two states.

    PM in Bihar

    Prime Minister will lay the foundation stone, inaugurate and dedicate to the nation development projects catering to Rail, Road, Rural Development, Fisheries, Electronics and Information Technology sectors.

    In line with his commitment to boost connectivity and infrastructure, Prime Minister will dedicate to the nation multiple rail projects. It includes automatic signalling between Samastipur-Bachhwara rail line that will enable efficient train operations in this section. Doubling of Darbhanga-Thalwara and Samastipur-Rambhadrapur rail line part of Darbhanga-Samastipur doubling project worth over Rs 580 crore that will enhance the capacity of train operations and reduce delays.

    The Prime Minister will also lay the foundation stone for multiple rail projects. These include the development of infrastructure for the maintenance of Vande Bharat trains at Patliputra, and the installation of automatic signalling on the 114 km Bhatni–Chhapra Gramin rail line to enable streamlined train operations. The upgradation of the traction system in the Bhatni–Chhapra Gramin section will allow higher train speeds by strengthening traction infrastructure and optimising energy efficiency. Additionally, the Darbhanga–Narkatiaganj rail line doubling project, worth around ₹4,080 crore, will increase sectional capacity, enable the operation of more passenger and freight trains, and strengthen connectivity between North Bihar and the rest of the country.

    Furthering road connectivity in the region, Prime Minister Modi will lay the foundation stone for the four-laning of the Ara bypass of NH-319 and inaugurate the Parariya to Mohania section of NH-319. This corridor, which connects Ara Town to the Golden Quadrilateral, is expected to enhance both passenger and freight transport. He will also inaugurate a two-lane paved shoulder road from Sarwan to Chakai under NH-333C, which serves as a vital link between Bihar and Jharkhand.

    In the digital infrastructure sector, the Prime Minister will inaugurate a new Software Technology Parks of India (STPI) facility in Darbhanga and a state-of-the-art incubation centre in Patna. These facilities are designed to support the growth of the IT and startup ecosystem in Bihar, promoting software exports and fostering innovation and entrepreneurship.

    Under the Pradhan Mantri Matsya Sampada Yojana (PMMSY), several fisheries development projects will also be inaugurated. These projects include the setting up of hatcheries, biofloc units, ornamental fish farming units, and integrated aquaculture infrastructure. The new projects are expected to generate employment and uplift the rural economy through increased fish production and entrepreneurship.

    In line with the vision for a modern and accessible railway network, the Prime Minister will flag off four new Amrit Bharat trains connecting key cities such as Patna, Motihari, Darbhanga, and Malda Town with major destinations like New Delhi and Lucknow, enhancing regional and interstate rail connectivity.

    Further, the Prime Minister will release ₹400 crore to approximately 61,500 Self-Help Groups (SHGs) in Bihar under the Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM). He will also hand over keys to beneficiaries under the Pradhan Mantri Awaas Yojana-Gramin as part of a Griha Pravesh event for 12,000 families, and release over ₹160 crore to 40,000 beneficiaries of the scheme.

    PM in West Bengal

    Later in the day, around 3 PM, the Prime Minister will visit Durgapur in West Bengal, where he will launch and dedicate several development projects in Oil and Gas, Power, Road, and Rail sectors, cumulatively worth over ₹5,000 crore.

    In a major push to energy infrastructure, he will lay the foundation stone for the Bharat Petroleum Corporation Limited (BPCL) City Gas Distribution project in Bankura and Purulia districts. The ₹1,950 crore project aims to provide piped natural gas to households and CNG for vehicles, boosting employment and supporting clean energy usage.

    He will also dedicate the 132-km Durgapur to Kolkata section of the Durgapur-Haldia Natural Gas Pipeline to the nation. This segment, worth over ₹1,190 crore, is part of the Pradhan Mantri Urja Ganga project and will facilitate the supply of natural gas across multiple districts including Purba Bardhaman, Hooghly, and Nadia.

    In keeping with the focus on clean energy, the Prime Minister will inaugurate Flue Gas Desulphurization (FGD) systems at Durgapur Steel Thermal Power Station and Raghunathpur Thermal Power Station under the Damodar Valley Corporation. These pollution control systems, worth over ₹1,457 crore, are expected to improve air quality and support sustainable power generation in the region.

    Rail infrastructure in West Bengal will also see enhancement with the inauguration of the doubling of the Purulia-Kotshila rail line, a 36-km stretch worth over ₹390 crore. The project will boost industrial connectivity from Jamshedpur, Bokaro, and Dhanbad to Ranchi and Kolkata, improving logistics and reducing transit time.

    The Prime Minister will also inaugurate two road overbridges at Topsi and Pandabeshwar in Paschim Bardhaman, constructed under the Setu Bharatam programme at a cost of over ₹380 crore. These bridges are expected to ease traffic flow and reduce accidents at railway level crossings.

  • MIL-OSI Banking: GhostContainer backdoor: malware compromising Exchange servers of high-value organizations in Asia

    Source: Securelist – Kaspersky

    Headline: GhostContainer backdoor: malware compromising Exchange servers of high-value organizations in Asia

    In a recent incident response (IR) case, we discovered highly customized malware targeting Exchange infrastructure within government environments. Analysis of detection logs and clues within the sample suggests that the Exchange server was likely compromised via a known N-day vulnerability. Our in-depth analysis of the malware revealed a sophisticated, multi-functional backdoor that can be dynamically extended with arbitrary functionality through the download of additional modules. Notably, the attackers leveraged several open-source projects to build this backdoor. Once loaded, the backdoor grants the attackers full control over the Exchange server, allowing them to execute a range of malicious activities. To evade detection by security products, the malware employs various evasion techniques and disguises itself as a common server component to blend in with normal operations. Furthermore, it can function as a proxy or tunnel, potentially exposing the internal network to external threats or facilitating the exfiltration of sensitive data from internal devices. Our telemetry data indicates that this malware may be part of an APT campaign targeting high-value organizations, including high-tech companies, in Asia. Our team is currently investigating the scope and extent of these attack activities to better understand the threat landscape.

    GhostContainer: the backdoor

    MD5 01d98380dfb9211251c75c87ddb3c79c
    SHA1 2bb0a91c93034f671696da64a2cf6191a60a79c5
    SHA256 87a3aefb5cdf714882eb02051916371fbf04af2eb7a5ddeae4b6b441b2168e36
    Link time 1970-01-01 12:00 AM UTC
    File type PE32 executable (EXE) (CLI) Intel 80386, for MS Windows Mono/.Net assemblys
    File size 32.8 KB
    File name App_Web_Container_1.dll

    The name of this file is App_Web_Container_1.dll. As the file name suggests, it serves as a “container”. It contains three key classes (Stub, App_Web_843e75cf5b63, and App_Web_8c9b251fb5b3) and one utility class (StrUtils). Once the file is loaded by the Exchange service, the Stub class is executed first. It acts as a C2 command parser, capable of executing shellcode, downloading files, running commands, and loading additional .NET byte code. One of the most notable features is that it creates an instance of the App_Web_843e75cf5b63, which serves as a loader for the web proxy class (App_Web_8c9b251fb5b3) via a virtual page injector.

    Stub: C2 parser and dispatcher

    At the beginning of execution, The Stub class attempts to bypass AMSI (Antimalware Scan Interface) and Windows Event Log. This is accomplished by overwriting specific addresses in amsi.dll and ntdll.dll, which allows evading AMSI scanning and Windows event logging.

    Next, it retrieves the machine key from the ASP.NET configuration, specifically the validation key, and converts it to a byte array. The code used to generate the validation key was simply copied from the open-source project machinekeyfinder-aspx. The validation key is then hashed using SHA-256 to ensure it is 32 bytes long, and the resulting byte array is returned for use in AES encryption and decryption (to protect the data transferred between the attacker and the Exchange server).

    The malware’s primary functionality is to receive requests from the attacker and parse them as follows:

    • Receive the value of x-owa-urlpostdata from the attacker’s request data and then decode it as Base64.
    • Utilize the AES key generated above to perform AES decryption on decoded data. The first 16 bytes of the decoded data are used as the initialization vector (IV).
    • Decompress the decrypted data and dispatch operations based on the command ID (first byte).

    To execute commands, Stub checks if the current user is a system account. If it is not, it attempts to impersonate a user by utilizing a token stored in the application domain’s data storage. This allows the application to perform actions under a different identity.

    C2 commands and functionality:

    Command ID Description
    0 Get the architecture type (e.g., x86 or x64) |
    1 Run received data as a shell code
    2 Execute a command line
    3 Load .NET byte code in a child thread
    4 Send a GET request
    5 Download and save a file
    6 Save provided raw data to a file
    7 Delete a file
    8 Read file contents
    9 Execute a .NET program with output
    10 Invoke a virtual page injector (create an instance of class App_Web_843e75cf5b63)
    11 Iterate and delete files whose names contain App_Global in the defined folder and its subdirectories
    14 Perform HTTP POST requests to multiple URLs concurrently

    Each time the command is executed, an XML-formatted response is generated, containing the execution result or return value. The value element in the XML starts with a hardcoded string /wEPDwUKLTcyODc4, and the same string is used in another open-source project, ExchangeCmdPy.py, to exploit the Exchange vulnerability CVE-2020-0688.

    By further comparing the code of GhostContainer with the ExchangeCmdPy.py open-source project, we observe a high degree of similarity in their entry function structures and keyword strings. This leads us to speculate that the code of the Stub class was developed based on the open-source project. We suspect that the vulnerability exploited in the Exchange attack may be related to CVE-2020-0688.

    App_Web_843e75cf5b63: virtual page injector

    This class is based on yet another open-source project, PageLoad_ghostfile.aspx, and it is designed to create ghost pages using classes like VirtualProvider. It contains a few classes which inherit from multiple system classes responsible for creating virtual ASPX pages and override some of their methods. It will create a virtual page using the two provided arguments: fakePageName and fakePath. The purpose of this approach is to run a .NET reflection loader (the fake page – see Appendix II) and bypass file checks. The loader is hardcoded into the program as a Base64-encoded .aspx source code.

    This fake page is used to locate the web proxy class App_Web_8c9b251fb5b3 in the current domain and execute its static method AppWebInit. As soon as it is created, the attacker starts sending requests to it, which will then be received and parsed by App_Web_8c9b251fb5b3.

    App_Web_8c9b251fb5b3: web proxy

    App_Web_8c9b251fb5b3 is one core component in the GhostContainer sample, typically loaded indirectly through the fake page (App_Web_843e75cf5b63). This class includes web proxy, socket forwarding, and covert communication capabilities, serving as a typical example of a combined web proxy and tunneling module.

    When an instance of this class is created, the static value utcDate is initialized with the current date and time. To identify the current version of the class, the fake page selects and invokes the one with the maximum utcDate value.

    There are only two functions in this class. The AppWebInit() function serves as the actual entry point of the module, and it is dynamically invoked through reflection in the fake .aspx page. In the function StrTr, it implements a custom string translation mechanism before decoding Base64-encoded strings.

    Again, we linked this algorithm to an open-source project, this time Neo-reGeorg. The function name StrTr and its code are identical. By comparing the code, it becomes clear that this class is a highly customized version of Neo-reGeorg.

    The primary behavior of the module is focused on parsing requests the attacker sends to the fake web page. When receiving a request, it first inspects the header. Its further behavior may vary depending on the identified header:

    • The Qprtfva header: identifies proxy forwarding requests.
    • The Dzvvlnwkccf header: identifies socket communication requests.
    • In other cases, the malware will respond with the string "".

    If the header is Qprtfva, the malware establishes a web proxy by completing the following steps:

    • Decode a Base64-encoded string to obtain the target URL.
    • Clone the original request content (headers other than Qprtfva and body).
    • Forward the request to the decoded target address.
    • Return the target response content as the local response.

    If the header is Dzvvlnwkccf, the malware establishes or manages a long-lived TCP tunnel connection between the internet and intranet. In order to identify and maintain different socket objects simultaneously, it defines a name for each socket object and then saves that name in pairs with the socket object in global storage. The name of the socket is contained in the first 22 bytes of the value of the header Dzvvlnwkccf. The exact activity is contained in the command section of the request, which starts from byte 23. The module accepts the following socket communication commands.

    Command Description
    1iGBIM1C5PmawX_1McmR7StamYn23jpfQoENPlm19cH42kceYkm8ch4x2 Extracts the IP and port from an encrypted header, attempts to connect, and saves the socket.
    vfhafFQZ4moDAvJjEjplaeySyMA Closes the socket and removes it from the global storage.
    M4LubGO0xaktF_YgZpsiH3v1cJ4dloAPOZKdG8AK4UxM Converts HTTP request body content to socket data and sends it to the internal host.
    NYIJVBf2PXRn7_BWxFyuheu1O0TuE9B0FtF0O Receives data from the internal network, encodes it, and sends it back to the attacker as an HTTP response body.

    StrUtils: string and XML format processing class

    StrUtils looks like a utility class for splitting and trimming strings, as well as splitting, extracting, and unescaping XML elements. However, only a few functions are currently referenced by the other three classes, namely the functions responsible for:

    • Splitting the received data into multiple parts
    • Trimming the closing character of the file path

    We found no references to the XML unescaping functions in any class.

    Infrastructure

    The GhostContainer backdoor does not establish a connection to any C2 infrastructure. Instead, the attacker connects to the compromised server from the outside, and their control commands are hidden within normal Exchange web requests. As a result, we have not yet identified any relevant IP addresses or domains.

    Victims

    So far, we have identified two targets of this campaign: a key government agency and a high-tech company. Both organizations are located in the Asian region.

    Attribution

    The sample used in this APT attack does not share structural similarities with any known malware. It incorporates code from several open-source projects, which are publicly accessible and could be utilized by hackers or APT groups worldwide. As a result, attribution based on code similarity is not reliable. Based on our telemetry, the attack could not be correlated with other attack campaigns because the attackers did not expose any infrastructure.

    Conclusions

    Based on all the analysis conducted, it is evident that attackers are highly skilled in exploiting Exchange systems and leveraging various open-source projects related to infiltrating IIS and Exchange systems. They possess an in-depth understanding of how Exchange web services operate and show remarkable expertise in assembling and extending publicly available code to create and enhance sophisticated espionage tools. We believe this is a mature and highly professional team. We continue tracking their activity.

    Indicators of compromise

    01d98380dfb9211251c75c87ddb3c79c       App_Web_Container_1.dll

    MIL OSI Global Banks –

  • MIL-OSI Russia: Monthly interest on a deposit: save or spend?

    Translation. Region: Russian Federal

    Source: Solid Bank – Solid Bank –

    An important disclaimer is at the bottom of this article.

    We are sure that investors who place funds in deposits with monthly interest payments have at least once asked themselves: is it better to save interest or live on interest and spend it on their personal needs? Today we will figure this out.

    There is no right answer to this question. Here everyone chooses their own option – what is better, what is more profitable, what fits into individual plans. The most important thing is that the answer to this question depends on your ultimate financial goals, plans and life habits.

    The option to save interest, as well as the option to live on interest, have their own characteristics (advantages and disadvantages). It is worth evaluating what will suit your strategy better.

    We accumulate interest:

    • This option is definitely suitable if your goal is to increase your capital. Please note that the deposit terms should include not only the option of monthly interest payments, but also capitalization. With its help, the interest accrued monthly will be automatically added to the deposit amount. Thus, the income increases compared to deposits without capitalization. This is the effect of compound interest.

    • We protect your funds from inflation and fraud. If you are worried that your savings are depreciating, that there may be a sharp decline in the economy, etc., you should consider a deposit as a savings instrument. Due to the interest, you protect your money from depreciation, and also keep it in a safe and secure place, while the investments will be insured by the Deposit Insurance Agency within 1.4 million rubles. In the event of an unforeseen situation, you will receive compensation.

    • Develop financial discipline. Agree that the ability to save money is not inherent to everyone. For some it comes easy, for others it does not work at all, and all attempts do not end with a successful result. Opening a deposit will help develop this skill. You will not be tempted and able to “get into” savings, since, most often, the terms of deposits do not provide for the withdrawal of funds before the deposit term without sanctions for the depositor. Usually, funds can be withdrawn only if the interest paid earlier is lost. This fact will keep you from temptations. For this purpose, a deposit in Solid Bank – “Solid” is perfect. Where you can now place money at an attractive interest rate, which can become higher with capitalization. More details here.

    We spend interest:

    • A deposit is an additional source of income. For example, you are a pensioner, have some savings, and you do not need to use them for large purchases. By placing money in the Bank at interest, you can receive a monthly increase to your pension. This will allow you to improve your standard of living now. Our “Pension” deposit is ideal for this. You can study the conditions at the link. The option – spending interest strategically is suitable for anyone who wants to use the deposit as a passive source of income for current needs.

    The most important thing for you is to know your goals and, based on this, choose financial instruments. We are always ready to consult each of you and help you choose the right options. Contact us at our offices or on the hotline: 8 800 775 56 06.

    JSC Solid Bank. General license of the Central Bank of the Russian Federation No. 1329.

    VBV. SOLIDBANK.ru

    8 800 775 56 06 (free call within Russia)

    Share the news on social networks

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

    .

    MIL OSI Russia News –

  • MIL-Evening Report: Why a surprise jump in unemployment isn’t as bad as it sounds

    Source: The Conversation (Au and NZ) – By Jeff Borland, Professor of Economics, The University of Melbourne

    New figures show Australia’s seasonally adjusted unemployment rate unexpectedly rose to 4.3% – its highest level since late 2021 – in June this year, up from 4.1% in May.

    While this is bad news, it’s not as bad as it might seem. Higher unemployment came from more people looking for work. In the long run, that’s good for the economy.

    And these figures also make it more likely we’ll see an interest rate cut next month – which is now looking overdue.

    What’s the bad news?

    This is the second month in a row we’ve seen no growth in total employment, while total hours worked (the number of hours worked by employed individuals, regardless of whether they are full-time, part-time or overtime) in the past month has gone backwards.

    All this adds to the picture of a slowing labour market since the start of the year, after surprisingly strong growth in the second half of 2024.

    The latest Australian Bureau of Statistics release also includes data on where extra hours worked during 2025 have come from.

    Employment growth has come entirely from the “non-market sector” – which is healthcare and social assistance, education and training, and public administration and safety. And the big driver of those extra jobs has been in social assistance and health care, which is largely government-funded.

    That means employment has gone backwards in the rest of the economy, adding to a picture of a jobs market being propped up by government investment in the caring economy.

    Why it as bad as you might think

    The reason unemployment rose is that more people were looking for work – so it’s not because employment fell.

    Of course, we’d prefer those people to have found jobs. But it does mean people weren’t losing jobs for the unemployment rate to rise.

    The growth in labour force participation in June continues the trend of strong growth since late 2021. In the long run, that’s a good thing – it means the country can produce more output, and more people gain an income from work.

    An interest rate cut now looks more certain

    A fortnight ago, the Reserve Bank surprised most people by keeping the cash rate on hold at 3.85%.

    Today’s unemployment data is extra evidence that the labour market isn’t contributing to inflation pressure – in fact, it’s the opposite.

    It shows an interest rate cut is now overdue. The Reserve Bank board meets again in mid-August, with a decision on rates announced on August 12.

    When will we know if this is a blip or a trend?

    One possibility is that some of the extra people who became unemployed in June have a job to go to in the next month. Ups and downs in that group have at times been influential in driving unemployment numbers in recent times. In that case, this month’s figures may partly turn out to be a blip. We’ll be able to tell that when we see next month’s figures.

    But the blip is unlikely to explain all of the rise in June. This is also about a labour market that is slowing.

    Jeff Borland receives funding from the Australian Research Council.

    – ref. Why a surprise jump in unemployment isn’t as bad as it sounds – https://theconversation.com/why-a-surprise-jump-in-unemployment-isnt-as-bad-as-it-sounds-261375

    MIL OSI Analysis – EveningReport.nz –

  • Trump says he’s not planning to fire Fed’s Powell

    Source: Government of India

    Source: Government of India (4)

    U.S. President Donald Trump said Wednesday he is not planning to fire Federal Reserve Chair Jerome Powell, but he kept the door open to the possibility and renewed his criticism of the central bank chief for not lowering interest rates.

    A Bloomberg report earlier Wednesday saying that Trump was likely to fire Powell soon sparked a drop in stocks and the dollar, and a rise in Treasury yields.

    Trump, who has been criticizing Powell on an almost daily basis for being “TOO LATE” to cut interest rates, said the report wasn’t true. But Trump confirmed he had floated the idea with Republican lawmakers on Tuesday evening, marking the latest chapter in an escalating campaign by Trump against the independent central bank and its embattled chief.

    “I don’t rule out anything, but I think it’s highly unlikely unless he has to leave for fraud,” Trump said, a reference to recent White House and Republican lawmaker criticism of cost overruns in the $2.5 billion renovation of the Fed’s historic headquarters in Washington. There has been no evidence of fraud, and the Fed has pushed back on criticism of its handling of the project.

    Powell, who was nominated by Trump during his first term in late 2017 to lead the Fed and then nominated for a second term by Democratic President Joe Biden four years later, has repeatedly said he intends to serve out his term, which runs through May 15, 2026. A recent Supreme Court opinion has solidified a long-standing interpretation of the law that the Fed chair cannot be fired over policy differences but only “for cause.”

    In an interview aired later on Wednesday, Trump was again asked if he was thinking of removing Powell. “I’d love it if he wants to resign, that would be up to him,” Trump told the Real America’s Voice. “They say it would disrupt the market if I did.”

    Treasury yields pared declines and stocks ended the day higher after Trump’s comments, which included the familiar complaint that Powell is a “terrible” chair for keeping the Fed’s short-term policy rate in the 4.25%-4.50% range since December while the central bank assesses the impact of sharply higher tariffs on inflation.

    Trump blames the Fed for higher long-term rates that increase the cost of U.S. government borrowing. His attacks on Powell have continued since his signing on July 4 of the “Big Beautiful Bill,” the tax and spending bill that independent analysts say will add trillions of dollars to the U.S. deficit.

    “A HUGE MISTAKE”

    Republican Senator Thom Tillis of North Carolina, who opposed the tax bill and has since said he won’t run for reelection, on Wednesday delivered a spirited defense of an independent Fed, which economists say is the linchpin of U.S. financial and price stability.

    “There’s been some talk about potentially firing the Fed chair,” said Tillis, a member of the Senate Banking Committee, which oversees the Fed and confirms presidential nominations to its Board. Subjecting the Fed to direct presidential control would be a “huge mistake,” he said.

    “The consequences of firing a Fed chair, just because political people don’t agree with that economic decision, will be to undermine the credibility of the United States going forward, and I would argue if it happens you are going to see a pretty immediate response, and we’ve got to avoid that,” said Tillis.

    Other Republicans downplayed the possibility of Trump’s firing Powell.

    Asked if it would be a problem for Trump to fire Powell, Senate Majority Leader John Thune told reporters: “My understanding is he doesn’t have any intention of doing that.”

    “President Trump’s own analysis and that of his Treasury secretary is that he cannot fire Jay Powell,” House Financial Services Committee Chair French Hill told CNBC earlier on Wednesday.

    RENOVATIONS AT THE FED

    Last week, the White House appeared to try to lay the groundwork for firing Powell for cause when the director of the Office of Management and Budget, Russell Vought, sent Powell a letter saying that Trump was “extremely troubled” by the renovations of two Fed buildings.

    Powell responded by asking the U.S. central bank’s inspector general to review the project. The central bank also posted a “frequently asked questions” fact sheet, which rebutted some of Vought’s assertions about VIP dining rooms and elevators that he said added to the costs.

    “Nobody is fooled by President Trump and Republicans’ sudden interest in building renovations — it’s clear pretext to fire Fed Chair Powell,” Elizabeth Warren, the top Democrat on the Senate Banking Committee and herself a longtime critic of Powell, posted on X. Warren was the committee’s only member to vote against Powell’s renomination as chair in 2022, saying he had not done enough on regulation.

    Fed policymakers are worried that, with 40-year-high inflation only recently in the rear-view mirror, any bump up in inflation coupled with a too-early cut to short-term borrowing costs could ignite expectations that inflation is back, a potentially self-fulfilling prophecy that could weaken the economy and undermine progress on price stability.

    Analysts said they feared the pressure campaign on Powell would continue — with deleterious effects on the Fed’s ability to do its congressionally mandated job of both keeping prices stable and maximizing employment.

    “Any reduction in the independence of the Fed would likely add upside risks to an inflation outlook that is already subject to upward pressures from tariffs and somewhat elevated inflation expectations,” wrote JP Morgan chief U.S. economist Michael Feroli, who said he doubts the “saga” of the president’s repeated threats to remove Powell is over.

    Feroli and others noted that continued pressure on Powell would likely push up longer-term interest rates as investors demand more protection from the risk of higher inflation — making U.S. government borrowing more, not less, expensive.

    The “formal process” for identifying a successor to Powell is under way, Treasury Secretary Scott Bessent has said. Bessent is one candidate for the job, along with White House economic adviser Kevin Hassett, former Fed Governor Kevin Warsh and Fed Governor Christopher Waller.

    (Reuters)

  • MIL-OSI Banking: Briefing by the Secretary-General of ASEAN on the Outcomes of the 58th ASEAN Foreign Ministers’ Meeting and Related Meetings in Malaysia

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, will share key takeaways and insights from the 58th ASEAN Foreign Ministers’ Meeting and Related Meetings, held in Kuala Lumpur, Malaysia, on 8-11 July 2025.
    The briefing will take place on Friday, 18 April 2025 at 1400 hours (Jakarta Time) and will be streamed live on YouTube: https://youtube.com/live/av2wcKPx1hA?feature=share
     
    #58thAMMPMC
    The post Briefing by the Secretary-General of ASEAN on the Outcomes of the 58th ASEAN Foreign Ministers’ Meeting and Related Meetings in Malaysia appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI Russia: UK inflation rises 3.6 percent in June

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    LONDON, July 17 (Xinhua) — Britain’s annual consumer price inflation rose 3.6 percent in June, the highest since January 2024, the Office for National Statistics (ONS) said on Wednesday.

    The ONS said the rate stood at 3.4 per cent in May. It attributed the rise mainly to higher prices for motor fuel, air and rail travel, and food.

    Food and non-alcoholic beverage prices rose 4.5 percent year-on-year, the highest since February 2024.

    Core inflation excluding energy, food, alcohol and tobacco rose by 3.7 percent in June, up from 3.5 percent in May. Services inflation, a key indicator of domestic price pressure, was unchanged in June at 4.7 percent.

    Previous data from the ONS showed that UK real GDP contracted by 0.1% in May 2025, the second month in a row, following a 0.3% decline in April.

    In mid-June, the Bank of England decided to leave its benchmark interest rate unchanged at 4.25%, citing persistent inflationary pressures and heightened global uncertainty.

    June inflation remains well above the 2 percent target, and the base rate is expected to be cut in August.

    Market analysts believe that in 2025 the regulator will lower the rate at least twice more, which could reach 3.75 percent by the end of the year. –0–

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

    .

    MIL OSI Russia News –