NewzIntel.com

Category: Banking

  • MIL-OSI Europe: At a Glance – Bulgaria to adopt the euro on 1 January 2026 – 01-07-2025

    Source: European Parliament

    On 1 January 2026, Bulgaria will become the 21st EU Member State to have joined the euro area and adopted the euro. Assessments by both the European Commission and the European Central Bank have concluded that Bulgaria meets the requirements for accession to the euro area. On 25 June, Parliament’s Committee on Economic and Monetary Affairs (ECON) adopted its report on the adoption by Bulgaria of the euro as planned. Parliament is due to vote on its opinion on Bulgaria’s euro-area membership during the July plenary session.

    MIL OSI Europe News –

  • Hardeep Singh Puri highlights India’s economic milestones and reforms at ICAI Foundation Day

    Source: Government of India

    Source: Government of India (4)

    Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, on Tuesday outlined India’s remarkable economic transformation over the past eleven years, crediting bold policy reforms, robust governance, and far-reaching social welfare measures for propelling the country from the world’s eleventh largest economy in 2014 to the fourth largest today.

    Addressing the 77th Foundation Day of the Institute of Chartered Accountants of India (ICAI) at Bharat Mandapam in New Delhi, Puri noted that India’s GDP has more than doubled, from USD 2.1 trillion in 2014 to USD 4.3 trillion in 2025. He said India has recently surpassed Japan and is on track to overtake Germany by 2030 to become the world’s third-largest economy.

    Reflecting on a decade of extensive welfare programmes, the Minister highlighted that over 27 crore citizens have been lifted out of multidimensional poverty, nearly four crore homes have been sanctioned under the Pradhan Mantri Awas Yojana, and more than 15 crore rural households now have access to piped drinking water through the Jal Jeevan Mission. Health coverage under Ayushman Bharat now benefits over 70 crore people, providing ₹5 lakh insurance per family each year.

    Puri also underscored India’s ability to attract foreign investment, citing USD 748 billion in foreign direct investment inflows between 2014 and 2025—an increase of 143% over the previous decade—and the rise in source countries from 89 to 112. Landmark economic measures such as the Insolvency and Bankruptcy Code, Production-Linked Incentive schemes, Goods and Services Tax, and Direct Benefit Transfers, along with the removal of over 25,000 compliances and 1,400 outdated laws, have further strengthened India’s business environment.

    The Minister pointed to significant improvements in tax administration, with the number of annual income tax returns filed more than doubling from 3.6 crore in FY 2013–14 to 8.5 crore in FY 2024–25. He noted that 95% of these returns are now processed within 30 days, helping ensure that every tax rupee translates into social benefits such as LPG connections for households, medicines for the underprivileged, rural electrification, pensions for senior citizens, and jobs for the youth.

    Highlighting the resilience of India’s banking sector, Puri said gross non-performing assets of scheduled commercial banks have fallen from 14.58% in FY 2017–18 to below 3% in FY 2024–25. He also noted that India’s digital economy continues to expand rapidly, with the Unified Payments Interface (UPI) handling nearly 50% of the world’s real-time digital transactions and serving over 500 million active users. India’s fintech adoption now stands at 87%, compared to a global average of 67%, driven by widespread access to digital identity and mobile connectivity.

    Among flagship initiatives, the Minister lauded the success of the Pradhan Mantri Ujjwala Yojana, which has delivered more than 16.5 crore LPG connections since 2014. This has empowered women, improved health by reducing indoor air pollution, and enhanced public welfare. The Oil & Gas sector’s robust growth was reflected in the doubling of the market capitalization of Public Sector Undertakings (PSUs) to ₹8.79 lakh crore since 2014.

    Looking ahead, Puri urged chartered accountants to embrace new technologies such as artificial intelligence and advanced analytics to automate routine tasks and focus on delivering strategic insights. “Embracing AI is no longer optional—it is essential for staying competitive and innovative in today’s evolving financial world,” he said.

    Puri called on the ICAI community to uphold the values of transparency, efficiency, and accountability as India advances towards its goal of becoming a developed nation by 2047. “On this special day, remember that your profession has the power to protect and sustain our economy. Your dedication is vital for building Viksit Bharat,” he said.

  • MIL-OSI: Additional Treasury Bond Auction Announcement – RIKB 32 1015 – Switch Auction

    Source: GlobeNewswire (MIL-OSI)

    Following the settlement of HFF bonds issued by ÍL Fund (formerly the Housing Financing Fund), it has been decided to hold a switch auction, giving owners of the inflation-linked government bond series RIKS 50 0915 the opportunity to exchange them for the nominal bond series RIKB 32 1015. Interested parties are advised to contact a primary dealer to participate in the switch auction.

    Series RIKB 32 1015
    ISIN IS0000037752
    Maturity Date 10/15/2032
    Auction Date 07/03/2025
    Settlement Date 07/08/2025
     
    Buyback issue RIKS 50 0915
    Buyback price (clean) 112.9150, which is equivalent to a yield of 2.78%

    On the Auction Date, between 10:30 a.m. and 11:00 a.m., the Government Debt Management will auction Treasury bonds in the Series, with the ISIN number and with the Maturity Date according to the table above. The Treasury bond will be delivered in electronic form on the Settlement Date.

    Payment for the bonds can only be made with the Buyback issue at the Buyback price. Cash is not accepted.

    The value of the Buyback bond is determined by the Buyback price plus accrued interest and indexation (i.e. dirty price). The bonds must be delivered to the Central Bank before 14:00 on the Settlement Date.

    No fee is paid in relation to the purchase of RIKS 50 0915.

    Further reference is made to the description of the Treasury bond and the General Terms of Auction of Treasury Bonds.

    Further information can be obtained from Government Debt Management at tel: +354 569 9994 or by email to lanamal@lanamal.is.

    The MIL Network –

  • MIL-OSI: Banco Santander Chile welcomes Andrés Trautmann Buc as the Bank’s New CEO and Country Head

    Source: GlobeNewswire (MIL-OSI)

    SANTIAGO, Chile, July 01, 2025 (GLOBE NEWSWIRE) — (NYSE: BSAC; SSE: Bsantander). Andrés Trautmann Buc was officially welcomed as the new CEO and Country Head of Banco Santander Chile (“Santander Chile” or the “Company”), an appointment previously announced last February, in the presence of Héctor Grisi, CEO of Banco Santander. Trautmann thus replaces Román Blanco, who is leaving the Chilean subsidiary after a successful tenure with the bank.

    At the meeting, which was attended via streaming by all employees across the country, Grisi thanked Román Blanco for his work over the years, highlighting the strong position of the Chilean subsidiary in terms of results and market share. “The Group is proud to have a bank like Santander Chile: number one in loans, with practically one in three SMEs in the country as a client, and an ROE of 25.9% in a highly competitive environment. We must be Best in Class in each of the markets in which we operate, and to achieve this, it is essential to combine our local presence with the strength of our global scale. That is our greatest strength; we have exceptional teams and a solid culture. Developing it to its full potential is the great challenge we face.” Thus, the executive addressed the bank’s employees, asking them to “give Andrés the same support they gave Román, because having a team that supports him is essential.”

    For his part, Trautmann stated, “I am deeply proud to represent Santander Chile in this new position, a leading bank in the local industry that has made significant contributions to the Group’s global objectives. I know I have a first-class team with whom we will continue to dedicate ourselves strongly to supporting the progress of people and companies with innovative products and services that make their daily lives easier and boost the development of their businesses.”

    In his first appearance as CEO and country head, Trautmann emphasized that “Santander is present in key markets in Europe and the Americas. One of our key goals is precisely to leverage this global capacity and, through our experience and market knowledge, contribute to the growth of Chilean companies that are the driving force of our economy. We also want our more than 4.3 million customers to have a similar service experience in the different geographical areas where the Group operates, so that they feel part of an international entity. This is what they can experience today through the Work/Café branch network deployed in more than nine countries.”

    For his part, Román Blanco stated that “over these three years, we have made great progress in a context where digital banking is advancing rapidly. In this context, we strengthened the growth of Getnet, also adding new features, and Santander Consumer Finance, in addition to the launch of digital accounts and new ways of serving our customers, such as the Work/Café Expresso model.” The executive concluded by thanking “everyone who has been part of this journey over these three years and who has made it possible to accomplish all these achievements. Chile is a country of multiple opportunities and great growth potential. I am convinced that Santander is in the best hands, because through Andrés’s leadership, his business vision, and his ability to work as a team, they will be able to face the new challenges of this industry and achieve the goals we have set for ourselves.”

    Local Perspective with International Experience
    Trautmann, who holds a degree in Business Administration from the University of Chile, has a distinguished career at Santander, having joined the Group in 2007. He began his career as Head of Institutional and Corporate Sales at Santander Chile, then, between 2010 and 2012, he was in charge of Structured Products Sales in London for Santander UK. From 2013 to 2018, he was responsible for Andean Region Sales for Goldman Sachs in New York. That year, he assumed the position of Head of Markets for Santander’s local subsidiary until 2021, when he was appointed Executive Vice President of CIB at Santander Chile, a global division that supports corporate and institutional clients with high-value-added services, products, and solutions.

    From his initial position at Markets, he has led significant achievements such as tripling the growth of the Sales and Trading business and then, from CIB, the Investment Banking area, also driving the expansion of CIB products in large companies, leveraging the global capabilities of the Santander Group. Recently, the executive has also added the Corporate and Institutional Banking and Santander Consumer Finance businesses to his responsibilities, which has given him a comprehensive view of the bank’s management.

    As of March 31, 2025, the bank had total assets of Ch$67,059,423 million (US$70,284 million), total gross loans (including those owed by banks) at amortized cost of Ch$41,098,666 million (US$43,075 million), total deposits of Ch$30,607,715 million (US$32,080 million), and bank owners’ equity of Ch$4,400,233 million (US$4,612 million). The BIS capital ratio was 16.9%, with a core capital ratio of 10.7%. As of March 31, 2025, Santander Chile employed 8,712 people and had 237 branches throughout Chile. Banco Santander Chile is one of the companies with the highest risk ratings in Latin America, with an A2 rating from Moody’s, A- from Standard & Poor’s, A+ from the Japan Credit Rating Agency, AA- from HR Ratings, and A from KBRA. All of our ratings have a stable outlook as of the date of this report.

    CONTACT INFORMATION
    Investor Relations
    Banco Santander Chile
    Bandera 140, Floor 20
    Santiago, Chile
    (562) 26483583

    Email: irelations@santander.cl
    Website: www.santander.cl

    The MIL Network –

  • MIL-OSI Video: Secretary-General/Financing for Development & other topics – Daily Press Briefing | United Nations

    Source: United Nations (video statements)

    Noon Briefing by Stéphane Dujarric, Spokesperson for the Secretary-General.

    ———————————

    Highlights:
    Secretary-General / Financing for Development
    Deputy Secretary-General
    Occupied Palestinian Territory
    Syria
    Humanitarian Syria
    Sudan
    Sudan Humanitarian
    Democratic Republic of the Congo
    Haiti
    Briefing
    ———————————
    SECRETARY-GENERAL/ FINANCING FOR DEVELOPMENT
    This morning, in Sevilla, Spain, the Secretary-General had a closed meeting with the Heads of the Multilateral Development Banks (MDBs). He then had a bilateral meeting with Juan Manuel Moreno Bonilla, President of the regional government of Andalusia and the First Vice-President of the European Committee of the Regions.
    The Secretary-General left Sevilla in the afternoon. We expect to announce his next travel in the coming days.

    DEPUTY SECRETARY-GENERAL
    The Deputy Secretary-General, Amina Mohammed, was also present at the Fourth International Conference on Financing for Development (FFD4) in Sevilla, where she delivered remarks at the High-Level session of the International Business Forum. She called for a shift from international assistance to investments in sustainable development and underscored the private sector’s role in delivering impact at scale.
    She also participated in a G20-Spain high-level special event on debt sustainability in developing countries alongside Prime Minister Pedro Sanchez, and she highlighted the need to break the cycle of debt and welcomed the growing attention from policymakers.
    This evening, she will travel to Vienna to address the 68th session of the Committee on the Peaceful Uses of Outer Space, organized by the United Nations Office for Outer Space Affairs (UNOOSA).
    During her time, there she will meet with Member States, senior government officials and the UN system. She will then return to Seville on Thursday for the closing of FFD4.

    OCCUPIED PALESTINIAN TERRITORY
    Turning to the situation in the Gaza Strip, the Israeli military operations have further intensified in northern Gaza since the issuance of the displacement order on Sunday by the Israeli authorities. In the time since that directive was announced, our partners on the ground say that at least 1,500 families have been displaced from North Gaza, as well as eastern parts of Gaza governorate, towards the central and western parts of Gaza governorate.
    Over the past 48 hours, five school buildings sheltering displaced families in North Gaza were reportedly hit, with deaths and injuries reported. Initial assessments by partners indicate that many families who fled from the schools that were hit have returned to North Gaza, largely due to the lack of alternatives and limited shelter space elsewhere.
    Healthcare also continues to come under attack. The World Health Organization says that in central Gaza yesterday, a tent sheltering displaced people in the courtyard of Al-Aqsa Hospital in Deir al Balah was reportedly hit, injuring five people. The agency added that the hospital’s internal medicine department also sustained some damage, and its oxygen supply line was affected.
    Since October 2023, WHO has documented 734 attacks on healthcare in Gaza. WHO reiterated its call for the protection of civilians and healthcare facilities. OCHA reiterates that under international humanitarian law, civilians and civilian infrastructure must be protected, not targeted.
    Regarding aid operations on the ground, OCHA tells us that movement restrictions remain a major challenge, preventing partners from predictably and sustainably providing critical services and assistance.

    Full Highlights:
    https://www.un.org/sg/en/content/ossg/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=01+July+2025

    https://www.youtube.com/watch?v=kggmKeR7k-k

    MIL OSI Video –

  • MIL-OSI Video: Secretary-General/Financing for Development & other topics – Daily Press Briefing | United Nations

    Source: United Nations (video statements)

    Noon Briefing by Stéphane Dujarric, Spokesperson for the Secretary-General.

    ———————————

    Highlights:
    Secretary-General / Financing for Development
    Deputy Secretary-General
    Occupied Palestinian Territory
    Syria
    Humanitarian Syria
    Sudan
    Sudan Humanitarian
    Democratic Republic of the Congo
    Haiti
    Briefing
    ———————————
    SECRETARY-GENERAL/ FINANCING FOR DEVELOPMENT
    This morning, in Sevilla, Spain, the Secretary-General had a closed meeting with the Heads of the Multilateral Development Banks (MDBs). He then had a bilateral meeting with Juan Manuel Moreno Bonilla, President of the regional government of Andalusia and the First Vice-President of the European Committee of the Regions.
    The Secretary-General left Sevilla in the afternoon. We expect to announce his next travel in the coming days.

    DEPUTY SECRETARY-GENERAL
    The Deputy Secretary-General, Amina Mohammed, was also present at the Fourth International Conference on Financing for Development (FFD4) in Sevilla, where she delivered remarks at the High-Level session of the International Business Forum. She called for a shift from international assistance to investments in sustainable development and underscored the private sector’s role in delivering impact at scale.
    She also participated in a G20-Spain high-level special event on debt sustainability in developing countries alongside Prime Minister Pedro Sanchez, and she highlighted the need to break the cycle of debt and welcomed the growing attention from policymakers.
    This evening, she will travel to Vienna to address the 68th session of the Committee on the Peaceful Uses of Outer Space, organized by the United Nations Office for Outer Space Affairs (UNOOSA).
    During her time, there she will meet with Member States, senior government officials and the UN system. She will then return to Seville on Thursday for the closing of FFD4.

    OCCUPIED PALESTINIAN TERRITORY
    Turning to the situation in the Gaza Strip, the Israeli military operations have further intensified in northern Gaza since the issuance of the displacement order on Sunday by the Israeli authorities. In the time since that directive was announced, our partners on the ground say that at least 1,500 families have been displaced from North Gaza, as well as eastern parts of Gaza governorate, towards the central and western parts of Gaza governorate.
    Over the past 48 hours, five school buildings sheltering displaced families in North Gaza were reportedly hit, with deaths and injuries reported. Initial assessments by partners indicate that many families who fled from the schools that were hit have returned to North Gaza, largely due to the lack of alternatives and limited shelter space elsewhere.
    Healthcare also continues to come under attack. The World Health Organization says that in central Gaza yesterday, a tent sheltering displaced people in the courtyard of Al-Aqsa Hospital in Deir al Balah was reportedly hit, injuring five people. The agency added that the hospital’s internal medicine department also sustained some damage, and its oxygen supply line was affected.
    Since October 2023, WHO has documented 734 attacks on healthcare in Gaza. WHO reiterated its call for the protection of civilians and healthcare facilities. OCHA reiterates that under international humanitarian law, civilians and civilian infrastructure must be protected, not targeted.
    Regarding aid operations on the ground, OCHA tells us that movement restrictions remain a major challenge, preventing partners from predictably and sustainably providing critical services and assistance.

    Full Highlights:
    https://www.un.org/sg/en/content/ossg/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=01+July+2025

    https://www.youtube.com/watch?v=kggmKeR7k-k

    MIL OSI Video –

  • MIL-OSI Banking: IPAA: “‘One Big, Beautiful Bill’ Remains a Win for American Energy”

    Source: Independent Petroleum Association of America

    Headline: IPAA: “‘One Big, Beautiful Bill’ Remains a Win for American Energy”

    Jul 1, 2025 IPAA: “‘One Big, Beautiful Bill’ Remains a Win for American Energy”

    Posted at 12:22h in Press Releases by

    WASHINGTON – Independent Petroleum Association of America (IPAA) President & CEO Jeff Eshelman issued the following passage of the budget reconciliation bill in the U.S. Senate:

    “President Trump’s ‘One Big, Beautiful Bill’ remains a win for American energy. The bill passed today improves the ability of independent oil and natural gas producers to supply reliable, affordable energy to the American people.

    “IPAA is pleased that the legislation reinstates oil and natural gas lease sales for onshore and offshore federal lands and makes common sense reforms to the permitting and leasing process on federal lands. IPAA members, the small businesses of the oil patch, are grateful that industry tax treatments including intangible drilling costs and percentage depletion were protected, along with carried interest deductions being preserved.

    “While we are disappointed that the legislation does not include a full repeal of the Methane Emissions Reduction Program (MERP) including the methane tax, as we have consistently argued for and will continue to, the 10-year delay of the MERP provides time to for legislators to work with regulators and industry to craft an alternate solution that makes sense for smaller producers.

    “Independent producers congratulate Majority Leader Thune and Senate leadership for uniting their members on the legislation. IPAA urges quick, unified action to send the OBBB to President Trump for his signature as soon as possible.”

    IPAA worked closely with national groups including the U.S. Chamber of Commerce and National Association of Manufacturers to advocate in support of the One Big Beautiful Bill Act, including for the permanent extension of tax reforms in the 2017 Tax Cuts and Jobs Act (TCJA). IPAA CEO Eshelman is a member of the US Chamber of Commerce’s “Committee of 100” and the National Association of Manufacturers’ “Council of Manufacturing Associations.”

    ###

    MIL OSI Global Banks –

  • MIL-OSI: Banco Santander Chile: Second Quarter 2025 Analyst and Investor Webcast / Conference Call

    Source: GlobeNewswire (MIL-OSI)

    SANTIAGO, Chile, July 01, 2025 (GLOBE NEWSWIRE) — You are cordially invited to participate in Banco Santander Chile’s (NYSE: BSAC) conference call-webcast on Tuesday August 5, 2025, at 11.00 AM (ET time) where we will discuss 2Q 2025 financial results. The Bank’s Officers participating in the conference call are: Patricia Pérez, CFO, Cristian Vicuña, Chief Strategy Officer & Head of IR and Andrés Sansone, Chief Economist. A question and answer session will follow the presentation.

    The Management Commentary report will be published on July 31, 2025, before the market opens. The quiet period begins on July 17.

    To participate, the webcast presentation can be viewed at: https://mm.closir.com/slides?id=720987

    Or please dial in using any of the below numbers:
    United Kingdom +44 203 984 9844
    USA +1 718 866 4614
    Austria +43 720 022981
    Brazil +556120171549
    Canada +1 587 855 1318
    Chile +56228401484
    Czech Republic +420 910 880101
    Estonia +372 609 4102
    Finland +35 8753 26 4477
    France +33 1758 50 878
    Germany +49 30 25 555 323
    Hong Kong +852 3001 6551
    Mexico +52 55 1168 9973
    Peru +51 1 7060950
    Poland +48 22 124 49 59
    Russia +7 495 283 98 58
    Singapore +65 3138 6816
    South Africa +27872500455
    South Korea +82 70 4732 5006
    Sweden +46 10 551 30 20
    Turkey +90 850 390 7512
    Ukraine +380 89 324 0624

    Participant Passcode: 720987
    Please dial in approximately 10 minutes prior to the starting time of the conference.

    If you have any questions, please contact Cristian Vicuña at Banco Santander Chile at Cristian.vicuna@santander.cl, Rowena Lambert at Rowena.lambert@santander.cl or María Magdalena Rosende at Maria.rosende@santander.cl

    CONTACT INFORMATION

    Cristian Vicuña
    Investor Relations
    Banco Santander Chile
    Bandera 140, Floor 20
    Santiago, Chile
    Email: irelations@santander.cl
    Website: www.santander.cl

    Banco Santander Chile is one of the companies with the highest risk classifications in Latin America with an A2 rating from Moody’s, A- from Standard and Poor’s, A+ from Japan Credit Rating Agency, AA- from HR Ratings and A from KBRA. All our ratings as of the date of this report have a Stable Outlook.

    As of March 31, 2025, the bank had total assets of Ch$67,059,423 million (US$70,284 million), total gross loans (including those owed by banks) at amortized cost of Ch$41,098,666 million (US$43,075 million), total deposits of Ch$30,607,715 million (US$32,080 million), and bank owners’ equity of Ch$4,400,233 million (US$4,612 million). The BIS capital ratio was 16.9%, with a core capital ratio of 10.7%. As of March 31, 2025, Santander Chile employed 8,712 people and had 237 branches throughout Chile.

    The MIL Network –

  • MIL-OSI: Old National Names Matt Keen Chief Information Officer

    Source: GlobeNewswire (MIL-OSI)

    MINNEAPOLIS and ST. PAUL, Minn., July 01, 2025 (GLOBE NEWSWIRE) — (NASDAQ: ONB) – Old National Bancorp (“Old National”) has appointed Matt Keen as Chief Information Officer (CIO). In this role, Keen will join Old National’s Executive Leadership Team – the company’s senior-most group of C-suite executives.

    Keen brings more than three decades of experience in significant technology leadership roles at national companies, including leading architecture development, as well as experience with brokerage and banking services, cloud service optimization, and platform modernization.

    “As Old National continues our Midwest and Southeast expansion, our technology strategy and capabilities are also evolving to continue meeting our ever-growing clients’ needs and expectations,” said Old National Chairman & CEO Jim Ryan. “Matt’s wide-ranging technology expertise will be essential for helping us innovate and deliver client-focused solutions, while also supporting the personal relationships that have always been the heart of our success.”

    Keen’s previous technology leadership experience included consulting with American Express as part of his tenure at PriceWaterhouseCoopers, almost 15 years at Ameriprise Financial (formerly a division of American Express), and six years at Two Harbors Investments. Most recently, he served as CIO for Bremer Bank, which became a division of Old National Bank on May 1, 2025.

    As Old National’s CIO, Keen will lead a forward-thinking approach to leveraging technology as an enabler for business success. He will shape and execute the company’s technology strategy, working closely and collaboratively with all aspects of the business to identify ways to increase efficiencies and drive growth. With a particular emphasis on innovation, Keen and his team will use technology, as well as data and analytics, to effectively support and enhance the client and team member experience, to meet their ever-evolving expectations.

    “I’m looking forward to continuing to advance the strong technology foundation that has enabled Old National to achieve its growth goals,” Keen said. “Through a collaborative approach and intense focus on our clients, we’ll bring forward the best technology capabilities to serve the business and support the culture that our team members, clients, and communities expect and appreciate.”

    A resident of Chanhassen, Minn., Keen holds a degree in quantitative methods and computer science from the University of St. Thomas.

    Keen succeeds retiring Chief Information Officer Paul S. Kilroy, who joined Old National in 2020. During his tenure, Kilroy spearheaded a groundbreaking partnership with Infosys that vastly improved contact center quality and stabilized information quality metrics across the organization, leading to a 2024 “Tech Exec of the Year” honor from the Indianapolis Business Journal.

    ABOUT OLD NATIONAL
    Old National Bancorp (NASDAQ: ONB) is the holding company of Old National Bank. As the fifth largest commercial bank headquartered in the Midwest, Old National proudly serves clients primarily in the Midwest and Southeast. With approximately $70 billion of assets and $37 billion of assets under management (including Bremer Financial Corporation on a pro forma basis as of March 31, 2025), Old National ranks among the top 25 banking companies headquartered in the United States. Tracing our roots to 1834, Old National focuses on building long-term, highly valued partnerships with clients while also strengthening and supporting the communities we serve. In addition to providing extensive services in consumer and commercial banking, Old National offers comprehensive wealth management and capital markets services. For more information and financial data, please visit Investor Relations at oldnational.com. In 2025, Points of Light again named Old National one of “The Civic 50” — an honor reserved for the 50 most community-minded companies in the United States.

    Investor Relations:
    Lynell Durchholz
    (812) 464-1366
    lynell.durchholz@oldnational.com

    Media Relations:
    Rick Vach
    (904) 535-9489
    rick.vach@oldnational.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5d64d8b1-0fab-4151-8bd2-c21133a36465

    The MIL Network –

  • MIL-OSI Africa: African Development Bank approves ZAR 2.5 billion loan to City of Johannesburg for critical urban infrastructure development


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    The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a ZAR 2.5 billion (approximately $139 million) corporate loan to the City of Johannesburg Metropolitan Municipality, marking the Bank’s first direct lending to a subnational entity in Africa.  

    The transaction will finance critical infrastructure projects in electricity, water, sanitation, and solid waste management, directly benefiting over 6 million residents in South Africa’s economic powerhouse. 

    The approval marks a transformative moment for municipal financing across Africa, operationalizing the African Development Bank’s Guidelines for Subnational Finance for the first time. The funding will exclusively support trading services infrastructure that generates revenue, ensuring sustainable debt repayment, while addressing urgent challenges in service delivery. 

    “This landmark transaction, led by the African Development Bank’s Infrastructure and Urban Development Department, in coordination with the Water and Sanitation Department,  and the Power Department, signals a new era in how the African Development Bank can empower cities,” said the Bank’s Vice President for Private Sector, Infrastructure & Industrialization, Solomon Quaynor. “By directly financing Johannesburg, we are unlocking a scalable model for subnational lending that enables multi-sectoral infrastructure delivery and positions the Bank as a trusted partner in driving sustainable, inclusive urban development across Africa.” 

    The loan will finance over 100 carefully selected projects across four vital sectors: upgrading distribution networks, installing smart meters, expanding renewable energy capacity, and connecting 3,200 new households to the grid; rehabilitating aging pipelines, upgrading treatment facilities, and reducing water losses from 46% to 37%;  and improving landfill compliance, expanding recycling facilities, and enhancing waste collection services. 

    “This historic transaction demonstrates the African Development Bank’s commitment to supporting creditworthy cities as engines of economic growth,” said the African Development Bank’s Director General for Southern Africa, Kennedy  Mbekeani. “Johannesburg is not just South Africa’s largest city – it contributes 16% to the country’s GDP and serves as a gateway for investment across the continent. By strengthening its infrastructure backbone, we’re investing in Africa’s urban future.” 

    The City of Johannesburg faces significant infrastructure challenges, with annual electricity losses of 30% for the past three years and water losses of 46.1%. The project is expected to create 2,869 jobs during construction and substantially improve service reliability for millions of residents. 

    An additional $1.5 million grant through the Bank’s Urban and Municipal Development Fund is being sought to support municipal reforms, governance and climate-resilient planning initiatives. 

    Beyond infrastructure improvements, the project will deliver significant socioeconomic benefits:  

    • 592 full-time equivalent jobs, with 14% reserved for women and 23% for youth. 
    • Reduced electricity and water interruptions will boost productivity for 65% of electricity and 5% of water consumed by industry. 
    •  Enhanced free basic services for 160,000 indigent households.  
    • ZAR 500 million in contracts earmarked for small and medium enterprises, with 40% reserved for women-owned businesses and 50% for youth entrepreneurs. 

    The African Development Bank has included comprehensive safeguards in the project to assure robust monitoring and oversight, transparency, compliance, and sound financial management throughout the loan lifecycle. 

    Distributed by APO Group 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

    MIL OSI Africa –

  • MIL-OSI Africa: The 2025 Food and Agriculture Organization of the United Nations (FAO) Awards honour organizations from Colombia, Egypt, and the Philippines for their contributions to agrifood systems transformation


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    The Food and Agriculture Organization of the United Nations (FAO) announced the winners of the 2025 FAO Awards, recognizing organizations from Colombia, Egypt, and the Philippines, whose work has led to outstanding progress in building more efficient, inclusive, resilient and sustainable agrifood systems.

    On Monday, FAO Director-General QU Dongyu presented the Champion Award and Partnership Award during the 44th FAO Ministerial Conference held in Rome.

    “These Awards are more than an acknowledgment of achievements – they represent FAO’s core values and aspirations. The ceremony is a celebration of possibility and hope of what happens when commitment and innovation meet the urgent call to transform global agrifood systems,” he said.

    The FAO Champion Award, the Organization’s highest corporate award, which carries a prize of USD 50,000 and recognizes significant and outstanding contributions towards advancing FAO’s overall goals, was conferred to la Confederación Mesa Nacional de Pesca Artesanal de Colombia (COMENALPAC), for its tangible results across organizational, social, economic and environmental dimensions, including championing social protection measures for fishers and played a key role in drafting laws against illegal fishing, thereby improving the welfare and rights of fishing communities.

    Since 2017, COMENALPAC has represented over 800 groups of marine and freshwater fishers across Colombia. Its work has contributed to the design and implementation of key legislation, including Law 2268 of 2022, which guarantees social benefits for commercial and subsistence fishers.

    Through an FAO–COMENALPAC partnership, the organization has strengthened fisher communities in Tumaco by eliminating intermediaries, increasing incomes, and promoting inclusive market opportunities. It has also led to the restoration of 83 wetlands, contributing to aquatic biodiversity and more sustainable food systems. The organization was further praised for helping secure the legal recognition of more than 120,000 fishers and for its role in incorporating the concept of “Aquatic Agrifood Ecosystems” into Colombia’s National Development Plan.

    In addition, within the same category, a Special Mention was also awarded to Youth Uprising, a Philippine-based non-profit organization recognized for its intense engagement of young people in transforming agrifood systems.

    The FAO Partnership Award — valued at USD 10,000 and recognizing outstanding cooperation with FAO in advancing the Organization’s work by its Members — was presented to The Egyptian Food Bank (EFB), the first Egypt NGO focused on addressing food insecurity, providing support to over 24 million people through comprehensive food assistance, nutrition, and empowerment programs.

    Among the EFB’s most notable initiatives are the Community Nutrition Programme, the Ramadan Food Loss Initiative, and the Resilience Index Measurement and Analysis (RIMA). EFB’s programs have benefited over 150,000 families and more than 60,000 schoolchildren. Its work also includes capacity-building for small-scale producers and support to 1,200 farmers — particularly women — promoting sustainable agricultural practices and economic inclusion.

    The FAO Director-General bestowed the awards to representatives of the organizations who attended the ceremony in person.

    Adriana Rocío Cadena Cancino, Director of la Confederación Mesa Nacional de Pesca Artesanal de Colombia (COMENALPAC), received the Champion Award on behalf of the organization.

    Mohsen Sarhan Ali Gamal Ali, Chief Executive Officer of The Egyptian Food Bank (EFB), accepted the Partnership Award on behalf of his organization.

    “These awardees remind us that transformation is already happening and must accelerate. Let us continue working hand in hand for the transformation of global agrifood systems to be more efficient, more inclusive, more resilient and more sustainable,” Qu added in his closing remarks, with a reference to the FAO Four Betters – better production, better nutrition, a better environment and a better life, leaving no one behind.

    Distributed by APO Group on behalf of Food and Agriculture Organization (FAO).

    MIL OSI Africa –

  • MIL-OSI Banking: RBI appoints Shri Kesavan Ramachandran as new Executive Director

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) has appointed Shri Kesavan Ramachandran as Executive Director (ED) with effect from July 01, 2025.

    Prior to being promoted as ED, Shri Kesavan Ramachandran was serving as Principal Chief General Manager in Risk Monitoring Department.

    Shri Kesavan Ramachandran has experience of over three decades in areas relating to currency management, Banking and Non-Banking supervision, training and administration. He also served as Principal of the Reserve Bank Staff College during his career. He served as, RBI’s nominee on the Board of Canara Bank for over five years and on the Auditing and Assurance Standards Board of ICAI for two years.

    As Executive Director, Shri Kesavan Ramachandran will look after Department of Regulation (Prudential Regulation Division).

    Shri Kesavan Ramachandran is a post-graduate with an MBA in Banking and Finance and holds a diploma in International Financial Reporting from ACCA, UK. He is also a Certified Associate of the IIBF.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/639

    MIL OSI Global Banks –

  • MIL-OSI USA: Governor Phil Scott Appoints 83 to Boards and Commissions

    Source: US State of Vermont

    Montpelier, Vt. – Governor Phil Scott’s office today announced a range of appointments made in the second quarter of 2025.

    Boards and commissions serve an important role in state government, giving Vermonters numerous opportunities to serve their state and communities. The Governor’s office is currently soliciting applications to fill vacancies and upcoming term expirations. All those interested in serving on board or commission should visit the Governor’s website at https://governor.vermont.gov/boards-commissions to apply.

    Appointments made in the second quarter of 2025 are listed below.

    ACT 264 Advisory Board

    • Alice Maynard, Underhill
    • Cynthia Smith, Fair Haven
    • Heather Freeman, Hyde Park
    • Laurie Mulhern, Bennington

    Board of Pharmacy

    • Kate-lyn Trucott, Lyndonville
    • Marvene Martinez, Vergennes

    Board of Professional Engineering

    • William Nourse, Essex

    Building Bright Futures Council

    • Dimitri Garder, North Bennington
    • Libby Daghlian, Winooski
    • Sharron Harrington, Burlington
    • Xusana Davis, Montpelier

    Caledonia County Sheriff

    • Brandon Thrailkill, Lyndonville

    Caledonia County Assistant Judge

    • Joe Benning, Lyndonville

    Capitol Complex Commission

    • Jireh Billings, Plymouth
    • John Hollar, Montpelier

    Clinical Utilization Review Board

    • Coleen Horan, M.D., Montpelier
    • Jennifer Chambers, Baltimore, MD

    Council for Equitable Youth Justice

    • Honorable Katherine Hayes, Brattleboro
    • Mercedes King, White River Junction
    • Peter Brown, Manchester, NH

    Department of Financial Regulation Commissioner

    • Kaj Samsom, Montpelier

    Deaf, Hard of Hearing, And Deaf/Blind Advisory Council

    • Amelie Briggs, Shelburne
    • Dr. Linda Hazard, Moretown
    • Julie Porter, Colchester
    • Kate Parrish, Hanover, MA
    • Rebecca Lalanne, Vernon
    • Sharon Henry, Hinesburg
    • Tracy Hinck, Norwich
    • Anne Daly, Brattleboro
    • Katharina Cahill, Waterbury Center

    Franklin County Assistant Judge

    • Jay Sweeny, St. Albans

    Human Rights Commission

    • Aditeei Lagu, Essex Junction

    Justice of the Peace

    • Krista M Rodrigue, Canaan
    • Justin Wright, St. Albans

    Northeast Forest Fire Protection Commission

    • Jay Hooper, Randolph Center

    Nuclear Decommissioning Citizens’ Advisory Panel

    • J. Randall Pratt, Wolcott

    Parole Board

    • Angela A. Chicoine, Essex Junction

    Passenger Tramway Board

    • Parker Riehle, South Burlington
    • Scott J. Reeves, Stowe

    State Infrastructure Bank Board

    • Dani Delaini, Brattleboro

    State Labor Relations Board       

    • Gwenna Peters, Duxbury

    State Rehabilitation Council

    • Ana Russo, Middlesex
    • Andrea Bacchi, Shaftsbury
    • Helena Kehne, Adamant
    • Krista Siringo, Bristol
    • Laura Flint, Waterbury
    • Sarah Launderville, Williamstown
    • Sherrie Brunelle, Colchester
    • William Garrison Meirs, Essex Junction

    State Veterinary Board 

    • Anne Murphy, Weybridge
    • Danielle Teehan, Newport
    • Jessica Alexander, Jericho

    Substance Misuse Prevention Oversight and Advisory Council

    • Amy Brewer, Williston

    Vermont Apprenticeship Advisory Board

    • Chris Damato, Derby Line
    • Greg Gove, Danville
    • Jeff Wimette, Fairfax
    • Jerry Baake, Pewaukee, WI
    • Pam Benoit, Barre

    Vermont Aviation Advisory Council

    • John Connor, Berlin
    • Victor Rivas, Bondville

    Vermont Commission on Native American Affairs

    • Alana Ojibway, Wilder
    • Charles Calley, Newbury
    • Linda Savoca, Cabot

    Vermont Community Development Board

    • David Riegel, Barton

    Vermont Economic Development Authority

    • Sarah Furman, Rutland

    Vermont Economic Progress Council

    • Heather Chase, Chester
    • Mark Nicholson, West Danville
    • Michael Keane, North Bennington
    • Mike Donohue, Shelburne
    • Rachel Smith, St. Albans

    Vermont Humanities Council

    • Candace Lewis, Georgia
    • Joseph Antonioli, Williston
    • Kathryn Santiago, Burlington

    Vermont Milk Commission

    • Harold Howrigan, Fairfield
    • Kiersten Bourgeois, St. Albans
    • Nicole Foster, Bridport
    • Rob Howe, Tunbridge

    Vermont Rail Advisory Council

    • Mark McKeon, Chester

    Vermont State Board of Nursing

    • Andrew D. Kehl, Hinesburg
    • Krystal Disorda, Brandon

    Vermont Veterans Home Board of Trustees

    • Steve Deal, Swanton

    Working Lands Enterprise Board

    • Stephanie Pope, Bridport
    • Susie Walsh Daloz, Middlesex

    ###

    MIL OSI USA News –

  • MIL-OSI: Siili Solutions Plc: Share Repurchase 1.7.2025

    Source: GlobeNewswire (MIL-OSI)

    Siili Solutions Plc       Announcement  1.7.2025
         
         
    Siili Solutions Plc: Share Repurchase 1.7.2025  
         
    In the Helsinki Stock Exchange    
         
    Trade date           1.7.2025  
    Bourse trade         Buy  
    Share                  SIILI  
    Amount             1 000 Shares
    Average price/ share    6,4020 EUR
    Total cost            6 402,00 EUR
         
         
    Siili Solutions Plc now holds a total of 21 318 shares
    including the shares repurchased on 1.7.2025  
         
    The share buybacks are executed in compliance with Regulation 
    No. 596/2014 of the European Parliament and Council (MAR) Article 5
    and the Commission Delegated Regulation (EU) 2016/1052.
         
    On behalf of Siili Solutions Plc    
         
    Nordea Bank Oyj    
         
    Sami Huttunen Ilari Isomäki  
         
    Further information:    
    CFO Aleksi Kankainen    
    Email: aleksi.kankainen@siili.com    
    Tel. +358 50 584 2029    
         
    www.siili.com    

    Attachment

    The MIL Network –

  • MIL-OSI: Siili Solutions Plc: Share Repurchase 1.7.2025

    Source: GlobeNewswire (MIL-OSI)

    Siili Solutions Plc       Announcement  1.7.2025
         
         
    Siili Solutions Plc: Share Repurchase 1.7.2025  
         
    In the Helsinki Stock Exchange    
         
    Trade date           1.7.2025  
    Bourse trade         Buy  
    Share                  SIILI  
    Amount             1 000 Shares
    Average price/ share    6,4020 EUR
    Total cost            6 402,00 EUR
         
         
    Siili Solutions Plc now holds a total of 21 318 shares
    including the shares repurchased on 1.7.2025  
         
    The share buybacks are executed in compliance with Regulation 
    No. 596/2014 of the European Parliament and Council (MAR) Article 5
    and the Commission Delegated Regulation (EU) 2016/1052.
         
    On behalf of Siili Solutions Plc    
         
    Nordea Bank Oyj    
         
    Sami Huttunen Ilari Isomäki  
         
    Further information:    
    CFO Aleksi Kankainen    
    Email: aleksi.kankainen@siili.com    
    Tel. +358 50 584 2029    
         
    www.siili.com    

    Attachment

    The MIL Network –

  • MIL-OSI Africa: World Bank Group Appoints New Division Director for Mozambique, Madagascar, Mauritius, Comoros and Seychelles


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    The World Bank Group has appointed Fily Sissoko as the new Division Director for Mozambique, Madagascar, Mauritius, Comoros, and Seychelles, effective today. He succeeds Idah Pswarayi-Riddihough, who held the position for the past four and a half years.

    In this new role, Mr. Sissoko will lead the World Bank Group’s engagement with government counterparts, development partners, and other stakeholders, advancing initiatives aligned with national priorities and the World Bank’s vision of a world free of poverty on a livable planet.

    An Ivorian national, Mr. Sissoko brings over 23 years of development experience across Africa, East Asia, South Asia, and the Pacific. Most recently, he served as the World Bank Country Manager for Togo, based in Lome. Prior to that, he was  the manager for the Governance Global Practice for the East Asia and Pacific region. He began his career at the World Bank in 2002 as a Financial Management Specialist in Dakar, Senegal, and has since held several leadership roles in financial management.

    Based in Maputo, Mr. Sissoko will oversee a portfolio of 63 projects totaling $8.5 billion in commitments across the five countries. This support spans key sectors including education, energy, health, social protection, infrastructure, agriculture, governance, and private sector development.

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

    MIL OSI Africa –

  • MIL-OSI: FirstBank’s Cube Hunt Campaign Surprises Communities and Supports Small Businesses

    Source: GlobeNewswire (MIL-OSI)

    LAKEWOOD, Colo., July 01, 2025 (GLOBE NEWSWIRE) — FirstBank, one of the nation’s largest privately held banks with a focus on “banking for good,” is bringing a wave of excitement to Colorado this summer with its “our cube means business” campaign.

    From July 11 through September 5, Coloradans will be provided hints and urged to keep their eyes peeled for the bank’s signature orange cube at select businesses and storefronts across the foothills every Friday. Each surprise event will feature exclusive giveaways, major discounts, and other fun items, all first come, first served.

    The initiative aims to not only spotlight and support local businesses but also create uplifting community moments that reflect FirstBank’s core values. Bank representatives will be on-site each week to hand out giveaways and connect with attendees.

    “Our goal is to celebrate and strengthen small businesses while fostering a sense of community in a fun and memorable way,” said Kevin Classen, CEO of FirstBank. “Whether someone leaves with a generous gift card or discovers a new neighborhood favorite, everyone benefits—and that’s something to feel good about.”

    To keep things exciting, the featured business locations will remain a mystery until the day before each event, with clues revealed on FirstBank’s Instagram, Facebook, and efirstbank.com/cube every Thursday.

    The campaign encourages the community to follow along, join the fun, and discover hidden gems right in their backyard.

    Event Details:

    • What: “Our cube means business” pop-up events.
    • When: Every Friday from July 11 to September 5, 2025.
    • Where: Locations announced on Thursdays on FirstBank social media and efirstbank.com/cube. 
    • Why: To support small businesses and surprise attendees with exclusive giveaways.
    • Note: Events are first come, first served while supplies last. No purchase necessary.

    To learn more about the event, visit efirstbank.com/cube. 

    About FirstBank
    FirstBank began providing banking services in 1963. Today, it’s known as an industry leader in digital banking. It has grown to be one of the top-performing and largest privately held banks in the United States. FirstBank offers a variety of consumer deposit accounts, home equity loans, mortgages, rental property loans, and a full range of commercial banking services, including business financing, commercial real estate loans, treasury management, and more. Since 2000, FirstBank has been recognized as a top corporate philanthropist, contributing more than $90 million and thousands of volunteer hours to charitable organizations. The company is also unique in that a large portion of its stock is owned by management and employees, giving employees a financial stake in the bank’s success through its Employee Stock Ownership Program. For more information, visit www.efirstbank.com. Member FDIC.

    Media Contact
    Cody Wheeler
    (303) 228-6986 x 148

    The MIL Network –

  • MIL-OSI: FirstBank’s Cube Hunt Campaign Surprises Communities and Supports Small Businesses

    Source: GlobeNewswire (MIL-OSI)

    LAKEWOOD, Colo., July 01, 2025 (GLOBE NEWSWIRE) — FirstBank, one of the nation’s largest privately held banks with a focus on “banking for good,” is bringing a wave of excitement to Colorado this summer with its “our cube means business” campaign.

    From July 11 through September 5, Coloradans will be provided hints and urged to keep their eyes peeled for the bank’s signature orange cube at select businesses and storefronts across the foothills every Friday. Each surprise event will feature exclusive giveaways, major discounts, and other fun items, all first come, first served.

    The initiative aims to not only spotlight and support local businesses but also create uplifting community moments that reflect FirstBank’s core values. Bank representatives will be on-site each week to hand out giveaways and connect with attendees.

    “Our goal is to celebrate and strengthen small businesses while fostering a sense of community in a fun and memorable way,” said Kevin Classen, CEO of FirstBank. “Whether someone leaves with a generous gift card or discovers a new neighborhood favorite, everyone benefits—and that’s something to feel good about.”

    To keep things exciting, the featured business locations will remain a mystery until the day before each event, with clues revealed on FirstBank’s Instagram, Facebook, and efirstbank.com/cube every Thursday.

    The campaign encourages the community to follow along, join the fun, and discover hidden gems right in their backyard.

    Event Details:

    • What: “Our cube means business” pop-up events.
    • When: Every Friday from July 11 to September 5, 2025.
    • Where: Locations announced on Thursdays on FirstBank social media and efirstbank.com/cube. 
    • Why: To support small businesses and surprise attendees with exclusive giveaways.
    • Note: Events are first come, first served while supplies last. No purchase necessary.

    To learn more about the event, visit efirstbank.com/cube. 

    About FirstBank
    FirstBank began providing banking services in 1963. Today, it’s known as an industry leader in digital banking. It has grown to be one of the top-performing and largest privately held banks in the United States. FirstBank offers a variety of consumer deposit accounts, home equity loans, mortgages, rental property loans, and a full range of commercial banking services, including business financing, commercial real estate loans, treasury management, and more. Since 2000, FirstBank has been recognized as a top corporate philanthropist, contributing more than $90 million and thousands of volunteer hours to charitable organizations. The company is also unique in that a large portion of its stock is owned by management and employees, giving employees a financial stake in the bank’s success through its Employee Stock Ownership Program. For more information, visit www.efirstbank.com. Member FDIC.

    Media Contact
    Cody Wheeler
    (303) 228-6986 x 148

    The MIL Network –

  • MIL-OSI Africa: Guinea Economic Update: Domestic Resource Mobilization and Management for Inclusive and Sustainable Development


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    The second edition of the Guinea Economic Update offers an in-depth analysis of the country’s evolving macroeconomic position and examines how Guinea can increase domestic resource mobilization and management to achieve its development goals.

    The report, “Domestic Resource Mobilization and Management for Inclusive and Sustainable Development,” presents a dual focus: an evaluation of macroeconomic developments and outlook, and an examination of Guinea’s potential to enhance and manage domestic revenues, particularly in light of the expected windfall from the Simandou iron ore project.

    The first part of the report highlights Guinea’s ongoing and anticipated economic growth, with GDP growth reaching 5.7% in 2024, projected at 6.5% in 2025, and averaging 10% in 2026–27, driven by expanding mining activity. However, the report underscores that recent growth has not significantly reduced poverty, which remains high at 52%, due to limited job creation in the non-mining sectors.

    “In recent years, Guinea has achieved robust growth, primarily fueled by the mining industry and agriculture. Yet, the key challenge remains in transforming growth into employment opportunities for Guineans,” said Marilyne Youbi, World Bank Group Economist and Lead Author of the report.

    The report points to a widening fiscal deficit — 4.8% of GDP in 2024 and rising public debt, driven by infrastructure investment and still-limited revenue mobilization. Tax revenues remain low at 13.1% percent of GDP, significantly below regional targets, constraining the government’s ability to invest in essential services such as health, education, and infrastructure.

    The second part of the report presents an analysis of Guinea’s domestic resource mobilization and management landscape. It argues that increasing and better managing public revenues, especially from the mining sector, is essential for fiscal sustainability, economic diversification, and improved social outcomes. The report calls for stronger tax policy enforcement consistent with the Tax and Mining Codes, and it highlights key reform areas including enhancing tax audit capabilities, improving the integrity of the taxpayer database, ensuring timely filing and payment of taxes, and deepening digitalization of revenue administration. It also calls for reforms to strengthen management of public expenditures and public investments programs.

    “This report underscores the urgency of implementing reforms to make growth more inclusive and resilient,” said Issa Diaw, World Bank Group Country Manager for Guinea. “With the Simandou iron ore project poised to transform the economy, Guinea has a narrow window to ensure that the benefits of growth are widely shared.”

    As Guinea enters a potentially transformative phase in its development, the report calls for a renewed policy focus on debt sustainability, macroeconomic stability, as well as investments in human and physical capital.

    Download the Guinea Economic Update in English.

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

    MIL OSI Africa –

  • India–Ghana relations to get fresh push with PM Modi’s landmark two-day visit

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi’s two-day visit to Ghana from July 2, marks a landmark moment in India–Ghana relations. This will be the first visit by an Indian Prime Minister to Ghana in more than three decades and PM Modi’s first bilateral engagement with the West African nation. The visit is expected to deepen cooperation in trade, development partnership, capacity building and cultural exchange, strengthening a warm relationship that has endured since Ghana’s independence.

    Historical Context

    India and Ghana share historical ties rooted in anti-colonial solidarity and a shared vision for the Global South. India established its representative office in Accra in 1953, four years before Ghana gained independence in 1957. Diplomatic relations were formally established the same year, laying the foundation for a close and friendly partnership.

    Political Engagement and High-Level Visits

    High-level exchanges have played a crucial role in nurturing this bond. From the Ghanaian side, President Nana Addo Dankwa Akufo-Addo visited India in March 2018 for the International Solar Alliance Founding Conference and later addressed the Voice of Global South Summit hosted by Prime Minister Modi in January 2023. Before him, President John Dramani Mahama travelled to India in October 2015 to attend the third India-Africa Forum Summit. Other notable visits include President Kufuor’s trips in 2002 and 2008, President Rawlings’ visit in 1993, President Limann’s in 1981 and President Kwame Nkrumah’s historic visit in 1961.

    From the Indian side, President Pranab Mukherjee visited Ghana in June 2016. Before that, Prime Minister P.V. Narasimha Rao’s visit in November 1995 was the last by an Indian Prime Minister, making PM Modi’s upcoming trip especially significant. Recent engagements have kept the momentum alive, with External Affairs Minister Dr. S. Jaishankar meeting President Akufo-Addo in September 2022 and Minister of State V. Muraleedharan attending the Ghanaian Presidential inauguration in January 2021.

    Institutional Mechanisms

    India and Ghana have built robust institutional mechanisms to sustain regular dialogue. The Joint Commission was established in 1995 and reinforced in 2016, while a protocol for Foreign Office Consultations was signed in 2002. Three rounds of consultations have been held since then, with the latest in New Delhi in 2022. The Joint Trade Committee, operational since 1981, held its fourth meeting in Accra in May 2024. Ghana’s Parliamentary Friendship Association also contributes to exchanges at the legislative level.

    Commercial Partnership

    India is among Ghana’s top trading partners and the largest destination for Ghanaian exports. Bilateral trade crossed two billion US dollars in 2022–23, with Ghana enjoying a positive trade balance due to substantial gold exports. Indian investments in Ghana are valued at over 1.2 billion dollars, spanning sectors such as pharmaceuticals, agro-processing, construction, manufacturing and ICT. Platforms like the CII-Exim Bank Conclave on India–Africa Project Partnership continue to play an important role in strengthening commercial ties. Ghana has been an active participant, with the 19th edition of the conclave in August 2024 witnessing the participation of four Ghanaian ministers and senior regulatory officials.

    Development Partnership

    India has been a committed development partner for Ghana, extending around 450 million US dollars in concessional credit and grants for infrastructure and capacity-building projects. Landmark initiatives include the India-Ghana Kofi Annan ICT Centre of Excellence established in 2003, the Rural Electrification Project, the Jubilee House Presidential Complex which was rehabilitated in 2017, and industrial ventures like the Komenda Sugar Plant and Elmina Fish Processing Plant inaugurated in 2016. Under Buyer’s Credit, India supported the construction of the Tema-Mpakadan Standard Gauge Railway Line, which was inaugurated in November 2024 and is expected to boost regional connectivity by linking Ghana’s main port city to its hinterland and neighbouring Burkina Faso. Other key projects include the Tamale-Walewale Road and an assembly plant for agricultural machinery.

    Capacity Building & Human Resource Development

    Ghana is also one of the largest beneficiaries of India’s flagship capacity-building programmes. Over 1,600 scholarships have been offered under the e-Vidya Bharati and e-Arogya Bharati digital network project. Hundreds of Ghanaians have benefited from ITEC and ICCR scholarships. In 2024 alone, 128 civilians and 109 defence personnel from Ghana trained in India under ITEC, while 35 ICCR scholarships and three AYUSH scholarships were awarded. Education fairs held in Kumasi and Accra in 2024 and 2025 have strengthened linkages between Indian institutions and Ghanaian students.

    Sectoral Cooperation

    Sectoral cooperation has grown steadily over the years. Agreements have been signed to promote cooperation in areas like LPG distribution, peaceful uses of nuclear energy and standardisation through collaborations between India’s Bureau of Indian Standards and Ghana Standards Authority. Air connectivity is facilitated through the Air Services Agreement signed in 1978 and updated through subsequent MoUs. Cultural exchange remains a vibrant aspect of the partnership, anchored by a Cultural Agreement signed in 1981 and periodic Cultural Exchange Programmes. India also extended humanitarian support to Ghana during the COVID-19 pandemic, providing 50,000 vaccine doses as a grant and over 1.6 million doses through the COVAX facility.

    Prime Minister Modi’s visit is expected to inject fresh momentum into the bilateral partnership by expanding trade, boosting investments in energy and digital infrastructure, advancing cooperation in defence and capacity building, and deepening collaboration in health, education and climate action. 

  • MIL-OSI: Riding the Wind and Waves: XRP and DRML Miner Usher in a New Era of Cloud Mining

    Source: GlobeNewswire (MIL-OSI)

    London, UK, July 01, 2025 (GLOBE NEWSWIRE) — The digital finance landscape is changing rapidly, and so are the income opportunities. At the forefront of this change are XRP and DRML Miner, offering a new way to participate in cryptocurrency mining using cloud mining services. No technical skills, no expensive equipment—just a streamlined way to start generating income from day one.

    With cutting-edge infrastructure and user-first policies, DRML Miner and XRP are not just riding the wave of crypto innovation—they’re building the future of mining.

    DRML Miner: Powering Passive Income with Zero Upfront Costs

    What sets DRML Miner apart is its zero-cost entry model. Unlike traditional mining setups that require a heavy initial investment and deep technical know-how, DRML Miner allows anyone to begin mining instantly, with no financial commitment.

    Users can:

    • Register within minutes
    • Start earning without deposits
    • Withdraw daily rewards with ease
    • Earn additional income through referrals

    The platform is user-friendly, secure, and scalable enough for all people—from crypto newbies to experienced investors.

    Consistent Daily Returns, Designed for Growth

    The primary appeal of DRML Miner is stable and recurring profit potential. Free-tier users earn daily, while premium plan users can earn up to 8% daily returns, depending on the plan details. Your earnings are deposited daily into your digital wallet, with no need to check. It is a completely automatic setup designed for consistency and transparency in payments.

    The structure encourages strategic scaling. Users can start with free mining and gradually upgrade as they grow more confident in the system’s profitability.

    Maximize Revenue with a Smart Referral Program

    DRML Miner features a multi-level referral system that transforms your network into a reliable income source. Sharing your referral link lets you earn a percentage of your invitees’ profits—creating a self-sustaining cycle of passive revenue.

    Unlike platforms with rigid requirements, DRML allows any user to benefit from referrals immediately. No special status or qualifications are needed.

    Whether you refer to one person or a hundred, the system tracks and rewards your efforts efficiently.

    XRP: The Ultimate Asset for Fast, Efficient Transactions

    XRP is more than a digital currency—it’s a powerful asset that enhances cloud mining infrastructure. Known for its speed, low transaction costs, and global reach, XRP ensures that DRML users experience:

    • Rapid deposits and withdrawals
    • Minimal transaction fees
    • Cross-border access without restrictions
    • Real-time financial interactions

    Its integration into the DRML platform empowers users to access, transfer, and reinvest their profits seamlessly.

    Fortified Security and Real-Time Transparency

    Trust and security are at the core of DRML Miner’ mission. The platform implements:

    • Bank-grade encryption
    • Two-factor authentication (2FA)
    • Detailed transaction records
    • Real-time monitoring dashboards

    Users can track performance, withdrawals, and referrals without delay. The platform’s transparent model ensures you remain in control of your finances at every stage.

    Global Access with Local Convenience

    DRML Miner is built for accessibility. There are no regional restrictions, making it available to a truly global audience. Any individual with an internet connection can join and begin mining.

    The path to global access is paired with a multilingual interface and professional response support, allowing people from different parts of the world to have the experience they desire.

    Cloud mining is now available to all users, from humble beginnings on a mountaintop to every major city in the world. It’s an opportunity open to all.

    Eco-Friendly and Scalable by Design

    Beyond profitability, DRML Miner aligns with today’s sustainable tech goals. Cloud mining absolutely cuts down energy consumption, and eliminates hardware waste and wasted electricity. 

    The system scales easily as demand increases, allowing thousands of users to mine at the same time without hindering performance and retained returns.

    Get Started: Simple Steps to Financial Freedom

    Embarking on your cloud mining journey with DRML Miner takes just a few steps:

    1. Create an account on the platform.
    2. Begin mining immediately as a free user.
    3. Choose to upgrade for higher daily returns.
    4. Share your referral link to grow your income.
    5. Withdraw earnings anytime, instantly and securely.

    It’s a future-proof model, eliminating the friction that has historically discouraged people from entering the crypto mining space.

    Conclusion: Embrace a Smarter, More Inclusive Mining Economy

    DRML Miner and XRP are building the future of cloud mining. This platform offers transparency, speed, and low-risk income for everyone—whether you’re a beginner or a pro.

    It’s not just another crypto service. It’s a step forward into a more inclusive and profitable mining economy.

    Start your journey now. Visit https://drmlminer.com and unlock daily rewards without investment.

    Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks and the possibility of losing funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

    The MIL Network –

  • MIL-OSI Video: Launch of the Sevilla Platform for Action – UN Chief remarks | #FFD4 | United Nations

    Source: United Nations (video statements)

    Remarks by António Guterres, Secretary-General of the United Nations, at the Launch of the Sevilla Platform for Action – 4th International Conference on Financing for Development FFD4 (Sevilla, Spain).

    “Mr. President of the Government of Spain, dear Pedro Sánchez,

    Excellencies, ladies and gentlemen,

    Thank you for joining this launch of the Sevilla Platform for Action.

    Respected President of the Government of Spain — I commend you and your government for your vision and leadership as hosts of the Fourth International Conference on Financing for Development.

    We are all here to respond to a global development crisis that threatens people and planet alike.

    Our roadmap to a better future — the Sustainable Development Goals — is in danger.

    Two-thirds of the targets are not progressing fast enough — or at all.

    Solutions depend on financing.

    Developing countries need over $4 trillion a year to deliver on the 2030 Agenda.

    But they are being battered by limited fiscal space, slowing growth, crushing debt burdens and growing systemic risks.

    The Sevilla Commitment document represents a bold plan to get the engine of development revving again:

    Through new domestic and global commitments that can channel public and private finance to the areas of greatest need…

    By overhauling the world’s approach to debt to make borrowing work in service of sustainable development…

    And by reforming the global financial architecture to reflect today’s realities and the urgent needs of developing countries.

    But we need all hands on deck.

    And that’s why the Sevilla Platform for Action is so critical — and so significant.

    In the midst of a world of division, conflict and economic uncertainty, this Platform contains more than 130 specific initiatives that demonstrate what we can achieve by working together.

    Governments, private sector partners, international institutions, and civil society groups all together are teaming up to launch high-impact initiatives to bring the Sevilla Commitment to life.

    This includes a global hub for debt swaps at the World Bank as part of a broader facility aimed at relieving liquidity constraints and lowering the cost of borrowing.

    A debt pause alliance to help countries in times of crisis.

    A global coalition to scale-up pre-arranged finance that can be readily deployed when disasters strike.

    A blended finance platform to bring public and private finance together in a new and expanded way.

    A new tool for Multilateral Development Banks to manage currency risks.

    And a commission to explore the future of development cooperation.

    In December, I appointed a group of experts on debt who today are announcing 11 immediately actionable proposals to help resolve the debt crisis.

    This includes the commitment to establish a borrowers forum for countries to learn from one another and coordinate their approaches in debt management and restructuring.

    I look forward to working closely with Member States — including the G20 — to bring this forum to life, to empower borrower countries, and create a fairer system.

    Excellencies, ladies and gentlemen,

    The Sevilla Platform for Action offers an ambitious, action-oriented response to the global financing challenge.

    It provides a springboard toward a more just, inclusive, and sustainable world for all countries.

    And above all, it proves that progress and change are possible if we work together.

    I hope the Platform inspires countries to work as one to tackle other challenges facing our world today.

    Once again, I thank Prime Minister Sánchez and all of you for your leadership.

    Thank you”.

    https://www.youtube.com/watch?v=Wh9SxgKKHmw

    MIL OSI Video –

  • MIL-OSI: Riverview Bancorp, Inc. Added to Russell 2000 Index

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, Wash., July 01, 2025 (GLOBE NEWSWIRE) — Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”) today announced it was added to the Russell 3000 Index® and Russell 2000® Index when Russell Investments reconstituted its comprehensive set of U.S. and global equity indexes on June 30, 2025.

    “Being added to the Russell 2000® Index is an important milestone for Riverview and reflects the strong progress we have made in growing the value of our franchise and increasing shareholder value,” said Nicole Sherman, President and CEO of the Company. “We expect our inclusion in the Russell Indices to generate greater visibility among institutional investors and our commitment to being the best-in-class community bank in the Pacific Northwest.”

    Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to the data as of the end of June 2024, about $10.6 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider.

    For more information on the Russell 2000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.

    About Riverview

    Riverview Bancorp, Inc. (www.riverviewbank.com) is headquartered in Vancouver, Washington – just north of Portland, Oregon, on the I-5 corridor. With assets of $1.51 billion at March 31, 2025, it is the parent company of Riverview Bank, as well as Riverview Trust Company. The Bank offers true community banking services, focusing on providing the highest quality service and financial products to commercial, business and retail clients through 17 branches, including 13 in the Portland-Vancouver area, and 3 lending centers. For the past 11 years, Riverview has been named Best Bank by the readers of The Vancouver Business Journal and The Columbian.

    This press release contains statements that the Company believes are “forward-looking statements.” These statements relate to the Company’s financial condition, results of operations, plans, objectives, future performance or business. You should not place undue reliance on these statements, as they are subject to risks and uncertainties. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements the Company may make including those described in 1A (Risk Factors) of the Company’s Form 10-K for the fiscal year ended March 31, 2025. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to the Company.

    About FTSE Russell
    FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $18.1 trillion is benchmarked to FTSE Russell indexes. Leading asset owners, asset managers, ETF providers and investment banks choose FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives. A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.

    Contact:
    Nicole Sherman, President & CEO
    David Lam, CFO                
    360-693-6650    

    The MIL Network –

  • MIL-OSI: Applied Systems Announces New Alliance Partnership

    Source: GlobeNewswire (MIL-OSI)

    Chicago, IL., July 01, 2025 (GLOBE NEWSWIRE) — Applied Systems® today announced FirstChoice, a MarshBerry Company, as its newest Alliance Partner, delivering educational resources and innovative technology to its members. Through the Applied Partner Program, FirstChoice helps its member agencies seamlessly connect to the digital roundtrip of insurance by providing access to Applied’s Digital Agency and EZLynx’s agency management technology, enabling them to create operational efficiency at every stage of the lifecycle and grow their business.

    “As volatile premium rates and an increased emphasis on digital marketplaces and personalized customer service continue to change the industry, we are committed to ensuring our member agencies are equipped to succeed,” said Keith Captain, president, FirstChoice. “Partnering with Applied gives FirstChoice members the resources, tools, and strategic support they need to embrace technology solutions so they can enable sustained and profitable revenue growth.” 

    Applied’s Digital Agency solution consists of a foundational management system, payment hub, online customer self-service and mobile technology, commercial lines application digitization and automation, and insurer connectivity, all hosted in the cloud. The fully integrated solution enables agencies to create higher-value business transactions and deliver superior customer experiences throughout the entire insurance lifecycle. By leveraging integrated applications that enable agencies to manage their entire business and eliminate duplicative work typically caused by multiple, disparate systems, digital agencies operate more efficiently, improve customer service, and accelerate growth and profitability across all lines of business.

    EZLynx’s integrated agency management technologies provide comparative rating, agency management and automation, commercial submissions, retention tools, consumer quoting, email marketing, text messaging, online client self-servicing, and so much more. The system maximizes agencies’ potential by increasing their ability to retain current customers while acquiring new business. By providing a central location, EZLynx enables agents to generate and store quotes, policies and documents, as well as easily remarket with up-to-date information that is synced from agents’ daily policy downloads. Through advanced automation and the ability to seamlessly connect to insurers and insureds, agents using EZLynx improve productivity, simplify management, optimize serviceability and increase profitability. 

    The Applied Alliance Partner Program creates additional value in the independent insurance distribution channel by providing greater resources to networks and their agencies for sustainable business growth. Through collaboration, the program identifies and engages insurance network membership organizations on technology and market initiatives that benefit their business and member agencies. Learn more about the Applied Alliance Partner Program.

    “Technology continues to create new business and service models that help independent agents keep up with consumer demands and become better business partners to their insured clients,” said Chris Cline, vice president, sales, alliance partnerships, Applied Systems. “We are proud to welcome FirstChoice to the Applied Partner Program, delivering their members access to technology best practices, industry expertise and Applied product solutions that strengthen customer relationships and drive growth for their businesses.”

    # # #

    The Applied products and logos are trademarks of Applied Systems, Inc., registered in the U.S.

    About Applied Systems
    Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognized as a pioneer in insurance automation and the innovation leader, Applied is the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada, the Republic of Ireland, and the United Kingdom. By automating the insurance lifecycle, Applied’s people and products enable millions of people around the world to safeguard and protect what matters most.

    MarshBerry – Helping Clients Learn, Improve & Realize Value
    MarshBerry is a global leader in financial services and consulting dedicated to helping insurance brokerages, and firms in the wealth management industry, achieve sustained growth and value for every stage of ownership. With a legacy spanning over 40 years, MarshBerry offers an extensive suite of services, including Investment Banking (Merger & Acquisition Advisory; Capital Raising), Financial Consulting (Strategic Planning; Valuations; Perpetuation Planning), Organic Growth Consulting (Leadership, Sales & Talent Solutions), Executive Peer Exchange, Agency Network and Market Intelligence and Performance Benchmarking. For more information, visit www.MarshBerry.com.

    The MIL Network –

  • MIL-OSI: NBT Bancorp Inc. Announces Date of Second Quarter Conference Call

    Source: GlobeNewswire (MIL-OSI)

    NORWICH, N.Y., July 01, 2025 (GLOBE NEWSWIRE) — NBT Bancorp Inc. (“NBT” or the “Company”) (NASDAQ: NBTB) will release details of its financial results for the second quarter 2025 on Monday, July 28, 2025, following the market close. The Company will host a conference call at 10:00 a.m. (Eastern) Tuesday, July 29, 2025, to review these results.

    The audio webcast link, along with the corresponding presentation slides, will be available on the Company’s Event Calendar page at www.nbtbancorp.com/bn/presentations-events.html#events prior to the beginning of the conference call. The call will also be archived on the Company’s website for twelve months and can be accessed at any time and at no cost during this period.

    Corporate Overview

    NBT Bancorp Inc. is a financial holding company headquartered in Norwich, NY, with total assets of $13.86 billion at March 31, 2025. The Company primarily operates through NBT Bank, N.A., a full-service community bank, and through two financial services companies. NBT Bank, N.A. has 175 banking locations in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine and Connecticut. EPIC Retirement Plan Services, based in Rochester, NY, is a national benefits administration firm. NBT Insurance Agency, LLC, based in Norwich, NY, is a full-service insurance agency. More information about NBT and its divisions is available online at: www.nbtbancorp.com, www.nbtbank.com, www.epicrps.com and www.nbtbank.com/Insurance.

    Contact: Scott A. Kingsley President and CEO
    Annette L. Burns, Executive Vice President and CFO
    NBT Bancorp Inc.
    52 South Broad Street
    Norwich, NY 13815
    607-337-6589

    This press release was published by a CLEAR® Verified individual.

    The MIL Network –

  • MIL-OSI: First American Bank Knows Growth Is Messy—That’s Why We’re Here to Help

    Source: GlobeNewswire (MIL-OSI)

    Alexis Pascual, Senior Vice President and Commercial Lending Group Head at First American Bank, explains how relationship-driven banking helps manufacturers access capital, navigate risk, and plan for sustainable growth.

    MIAMI, July 01, 2025 (GLOBE NEWSWIRE) — In manufacturing, margins are tight, challenges are constant, and growth can be messy. That’s why the role of a banker today goes far beyond financial management. Our team of banking experts provides guidance, connects the dots, and helps clients think several steps ahead.

    At First American Bank, we’ve seen firsthand how manufacturers – especially small to midsize firms – benefit from a more strategic banking relationship. These businesses are often exceptional at what they do, but lack the time or expertise to build long-term financial plans or optimize their capital structures. That’s where we come in.

    A relationship, not a transaction

    Being a strategic banker starts with asking better questions. It’s not just, “What financing do you need today?” It’s, “Where are you trying to go, and what’s getting in your way?”

    Manufacturing clients often face complex operational challenges: cash flow gaps, equipment financing needs, overseas sourcing issues, and more. Many are growing fast but haven’t built out a formal finance function. Others are facing increasing pressure from trade policy shifts or interest rate volatility. As strategic bankers, our role is to take the time to understand these dynamics, then design the right roadmap forward.

    Sometimes that means structuring an SBA working capital solution to tackle financial vulnerabilities. Other times, it means connecting the client to a part-time CFO, helping them apply for a foreign trade zone designation, or walking them through IC-DISC tax advantages for exporters. We’re not CPAs or logistics experts, but we know the right people and we are always happy to make those introductions.

    Capital that grows with the business

    South Florida’s climate is good for manufacturing, too. The region is home to many thriving producers, most of them small and privately held. They often don’t fit the mold for conventional lending, especially if their financial reporting isn’t strong or their growth has outpaced their internal systems.

    In these cases, we use SBA lending programs as a bridge. These structures allow us to support manufacturers with solid fundamentals but temporary financial constraints. More importantly, we sit down with them to map out a clear path: “Here’s how we fund you now, and here’s what needs to happen to transition into conventional credit.”

    Advice beyond the balance sheet

    In today’s supply chain environment, risk comes from all angles. Rising costs, tariffs, and shifting trade agreements force manufacturers to rethink their operations. We help them do just that.

    That might mean connecting a client to a more cost-effective supplier in Latin America, encouraging a re-shoring strategy, or pointing them to a freight partner that can reduce landed costs. In one case, we helped a company shift from a Chinese vendor to a local supplier in South Florida, avoiding tariffs and cutting lead times.

    This kind of support may not fall under “banking” in the traditional sense, but it’s core to how we operate.

    Built for long-term relationships

    As a recently hired banker, what drew me to First American Bank was its privately held structure and relationship-first approach. We’re not driven by quarterly quotas or product pushes. We’re focused on doing what’s right for the client, often over the course of many years.

    Some of our manufacturing clients started with a small SBA loan and now have multimillion-dollar credit lines with us. We’ve grown alongside them, advising through each phase of their journey.

    That’s the real value of a strategic banker. Not someone who just shows up for the deal, but someone who’s invested in your success, challenge by challenge, year after year.

    Are you a manufacturer looking for more support from your financial partners? If so, chat with our team to learn more.

    Disclaimers: This information is for educational purposes only. It is not legal or tax advice. For legal or tax advice, you should consult your own legal, tax, and investment advisors.

    First American Bank is a Member FDIC.

    About First American Bank
    First American Bank is the largest privately held bank in Illinois, with over $7 billion in assets and 61 locations across Illinois, Wisconsin, and Florida. Family-owned and operated since the 1960s, the bank offers a full range of financial services, including personal banking, business lending, and trust and wealth management. Known for combining community bank service with large-scale capabilities, First American Bank is committed to long-term relationships, financial stability, and delivering tailored solutions that help customers thrive.

    Media Contact:
    Teresa Lee 
    305-631-6400 
    tlee@firstambank.com 

    The MIL Network –

  • MIL-OSI: First American Bank Knows Growth Is Messy—That’s Why We’re Here to Help

    Source: GlobeNewswire (MIL-OSI)

    Alexis Pascual, Senior Vice President and Commercial Lending Group Head at First American Bank, explains how relationship-driven banking helps manufacturers access capital, navigate risk, and plan for sustainable growth.

    MIAMI, July 01, 2025 (GLOBE NEWSWIRE) — In manufacturing, margins are tight, challenges are constant, and growth can be messy. That’s why the role of a banker today goes far beyond financial management. Our team of banking experts provides guidance, connects the dots, and helps clients think several steps ahead.

    At First American Bank, we’ve seen firsthand how manufacturers – especially small to midsize firms – benefit from a more strategic banking relationship. These businesses are often exceptional at what they do, but lack the time or expertise to build long-term financial plans or optimize their capital structures. That’s where we come in.

    A relationship, not a transaction

    Being a strategic banker starts with asking better questions. It’s not just, “What financing do you need today?” It’s, “Where are you trying to go, and what’s getting in your way?”

    Manufacturing clients often face complex operational challenges: cash flow gaps, equipment financing needs, overseas sourcing issues, and more. Many are growing fast but haven’t built out a formal finance function. Others are facing increasing pressure from trade policy shifts or interest rate volatility. As strategic bankers, our role is to take the time to understand these dynamics, then design the right roadmap forward.

    Sometimes that means structuring an SBA working capital solution to tackle financial vulnerabilities. Other times, it means connecting the client to a part-time CFO, helping them apply for a foreign trade zone designation, or walking them through IC-DISC tax advantages for exporters. We’re not CPAs or logistics experts, but we know the right people and we are always happy to make those introductions.

    Capital that grows with the business

    South Florida’s climate is good for manufacturing, too. The region is home to many thriving producers, most of them small and privately held. They often don’t fit the mold for conventional lending, especially if their financial reporting isn’t strong or their growth has outpaced their internal systems.

    In these cases, we use SBA lending programs as a bridge. These structures allow us to support manufacturers with solid fundamentals but temporary financial constraints. More importantly, we sit down with them to map out a clear path: “Here’s how we fund you now, and here’s what needs to happen to transition into conventional credit.”

    Advice beyond the balance sheet

    In today’s supply chain environment, risk comes from all angles. Rising costs, tariffs, and shifting trade agreements force manufacturers to rethink their operations. We help them do just that.

    That might mean connecting a client to a more cost-effective supplier in Latin America, encouraging a re-shoring strategy, or pointing them to a freight partner that can reduce landed costs. In one case, we helped a company shift from a Chinese vendor to a local supplier in South Florida, avoiding tariffs and cutting lead times.

    This kind of support may not fall under “banking” in the traditional sense, but it’s core to how we operate.

    Built for long-term relationships

    As a recently hired banker, what drew me to First American Bank was its privately held structure and relationship-first approach. We’re not driven by quarterly quotas or product pushes. We’re focused on doing what’s right for the client, often over the course of many years.

    Some of our manufacturing clients started with a small SBA loan and now have multimillion-dollar credit lines with us. We’ve grown alongside them, advising through each phase of their journey.

    That’s the real value of a strategic banker. Not someone who just shows up for the deal, but someone who’s invested in your success, challenge by challenge, year after year.

    Are you a manufacturer looking for more support from your financial partners? If so, chat with our team to learn more.

    Disclaimers: This information is for educational purposes only. It is not legal or tax advice. For legal or tax advice, you should consult your own legal, tax, and investment advisors.

    First American Bank is a Member FDIC.

    About First American Bank
    First American Bank is the largest privately held bank in Illinois, with over $7 billion in assets and 61 locations across Illinois, Wisconsin, and Florida. Family-owned and operated since the 1960s, the bank offers a full range of financial services, including personal banking, business lending, and trust and wealth management. Known for combining community bank service with large-scale capabilities, First American Bank is committed to long-term relationships, financial stability, and delivering tailored solutions that help customers thrive.

    Media Contact:
    Teresa Lee 
    305-631-6400 
    tlee@firstambank.com 

    The MIL Network –

  • MIL-OSI: Pekka Pykäri steps down from his role in Oma Savings Bank’s management team

    Source: GlobeNewswire (MIL-OSI)

    OMA SAVINGS BANK PLC, STOCK EXCHANGE RELEASE 1 JULY 2025 AT 4:00 PM CHANGES IN BOARD/MANAGEMENT/AUDITORS


    Pekka Pykäri steps down from his role in Oma Savings Bank’s management team

    Oma Savings Bank’s Chief Risk Officer (CRO) and member of the management team, Pekka Pykäri, will step down at his own request no later than August 31, 2025. Pekka Pykäri will continue working for the company in other risk control duties until December 31, 2025.

    “I would like to take this opportunity to thank Pekka for his highly commendable work in developing the bank’s culture and risk control processes over the past two years,” says says Karri Alameri, OmaSp CEO.

    OmaSp will announce Pekka’s successor at a later date.

    Oma Savings Bank Plc

    Additional information:

    Karri Alameri, CEO, tel. +358 45 656 5250, karri.alameri@omasp.fi


    Distribution:

    Nasdaq Helsinki Ltd
    Major media
    www.omasp.fi

    OmaSp is a solvent and profitable Finnish bank. About 600 professionals provide nationwide services through OmaSp’s 48 branch offices and digital service channels to over 200,000 private and corporate customers. OmaSp focuses primarily on retail banking operations and provides its clients with a broad range of banking services both through its own balance sheet as well as by acting as an intermediary for its partners’ products. The intermediated products include credit, investment and loan insurance products. OmaSp is also engaged in mortgage banking operations.

    OmaSp core idea is to provide personal service and to be local and close to its customers, both in digital and traditional channels. OmaSp strives to offer premium level customer experience through personal service and easy accessibility. In addition, the development of the operations and services is customer-oriented. The personnel is committed and OmaSp seeks to support their career development with versatile tasks and continuous development. A substantial part of the personnel also own shares in OmaSp.

    The MIL Network –

  • MIL-OSI: Pekka Pykäri steps down from his role in Oma Savings Bank’s management team

    Source: GlobeNewswire (MIL-OSI)

    OMA SAVINGS BANK PLC, STOCK EXCHANGE RELEASE 1 JULY 2025 AT 4:00 PM CHANGES IN BOARD/MANAGEMENT/AUDITORS


    Pekka Pykäri steps down from his role in Oma Savings Bank’s management team

    Oma Savings Bank’s Chief Risk Officer (CRO) and member of the management team, Pekka Pykäri, will step down at his own request no later than August 31, 2025. Pekka Pykäri will continue working for the company in other risk control duties until December 31, 2025.

    “I would like to take this opportunity to thank Pekka for his highly commendable work in developing the bank’s culture and risk control processes over the past two years,” says says Karri Alameri, OmaSp CEO.

    OmaSp will announce Pekka’s successor at a later date.

    Oma Savings Bank Plc

    Additional information:

    Karri Alameri, CEO, tel. +358 45 656 5250, karri.alameri@omasp.fi


    Distribution:

    Nasdaq Helsinki Ltd
    Major media
    www.omasp.fi

    OmaSp is a solvent and profitable Finnish bank. About 600 professionals provide nationwide services through OmaSp’s 48 branch offices and digital service channels to over 200,000 private and corporate customers. OmaSp focuses primarily on retail banking operations and provides its clients with a broad range of banking services both through its own balance sheet as well as by acting as an intermediary for its partners’ products. The intermediated products include credit, investment and loan insurance products. OmaSp is also engaged in mortgage banking operations.

    OmaSp core idea is to provide personal service and to be local and close to its customers, both in digital and traditional channels. OmaSp strives to offer premium level customer experience through personal service and easy accessibility. In addition, the development of the operations and services is customer-oriented. The personnel is committed and OmaSp seeks to support their career development with versatile tasks and continuous development. A substantial part of the personnel also own shares in OmaSp.

    The MIL Network –

  • MIL-OSI: Financial Institutions, Inc. Schedules Second Quarter 2025 Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    WARSAW, N.Y., July 01, 2025 (GLOBE NEWSWIRE) — Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), the parent company of Five Star Bank and Courier Capital, LLC, will release results for the second quarter ending June 30, 2025 after the market closes on July 24, 2025.

    Management will host an earnings conference call and audio webcast on July 25, 2025 at 8:30 a.m. Eastern Time. The call will be hosted by Martin K. Birmingham, President and Chief Executive Officer, and W. Jack Plants II, Chief Financial Officer and Treasurer. Within the United States, participants may access the call by dialing 1-833-470-1428 and providing the access code 652423. A live webcast will also be available in listen-only mode on the Company’s website, www.FISI-Investors.com, and a replay of the webcast will be available there for at least 30 days.

    About Financial Institutions, Inc.
    Financial Institutions, Inc. (NASDAQ: FISI) is a financial holding company with approximately $6.3 billion in assets as of March 31, 2025, offering banking and wealth management products and services. Its Five Star Bank subsidiary provides consumer and commercial banking and lending services to individuals, municipalities and businesses through banking locations spanning Western and Central New York and a commercial loan production office serving the Mid-Atlantic region. Courier Capital, LLC offers customized investment management, financial planning and consulting services to individuals and families, businesses, institutions, non-profits and retirement plans. Learn more at Five-StarBank.com and FISI-Investors.com.

    For additional information contact:
    Kate Croft
    Director of Investor and External Relations
    (716) 817-5159
    klcroft@five-starbank.com

    The MIL Network –