Category: Europe

  • MIL-OSI Russia: Roller disco

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    An important disclaimer is at the bottom of this article.

    A roller disco will be held on Bolotnaya Square in Repinsky Park. Professional dancers will teach city residents how to dance on quad roller skates and regular roller skates.

    Guests will also be able to visit the beauty zone, where they can get bright makeup from a brand that is a participant in the Made in Moscow project.

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

    .

    MIL OSI Russia News

  • MIL-OSI: S8 Global Fintech & Regtech Fund (Luxembourg), Strategic Fintech Investor, Reports More Than 10% Ownership Position in RYVYL

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, CA, July 22, 2025 (GLOBE NEWSWIRE) — RYVYL Inc. (NASDAQ: RVYL) (“RYVYL” or the “Company”), a leading innovator of payment transaction solutions, that recently announced pivoting into strategies that may include crypto-currency custodial services, today announced that S8 Global Fintech & Regtech Fund (Luxembourg) (“S8”) recently reported to the SEC an ownership position of approximately 3.6 million shares of RYVYL common stock, or more than 10% of RYVYL’s outstanding shares of common stock, as of July 21, 2025, making it the Company’s largest stockholder.

    S8 Global Fintech & Regtech Fund, a Luxembourg-based alternative investment fund (AIF) that is registered with the CSSF (Commission de Surveillance du Secteur Financier), makes strategic investments in businesses that operate in the Fintech, Regtech, Insurtech and Data Technology industries. RYVYL announced its enhanced business plan including, among other things, crypto-currency custodial services, in a press release on June 16, 2025.

    S8’s portfolio includes companies with established operations in the UK and EU as well as payment processing tools for direct digital asset payments. RYVYL has existing operations in North America and is pursuing strategic opportunities, including plans to initiate a digital asset acquisition strategy. The Company and S8 have had initial discussions and are exploring ways to work together.

    About S8 Global Fintech & Regtech Fund (Luxembourg)

    S8 Global Fintech & Regtech Fund (Luxembourg), with full ownership of UK and EU regulated payment institutions, including My EU Pay Ltd., Cublox Ltd., and ValorPay, UAB, focuses on innovative sectors where technology transforms financial services and operations. This includes Fintech, which leverages technology to improve or automate financial services; Regtech, which applies modern tech to address regulatory and compliance challenges; Insuretech, which modernizes the creation, delivery, and management of insurance products; and Data Technology, which encompasses software tools designed to analyze, process, and extract insights from data. More information can be found here: S8 Fund

    About RYVYL

    RYVYL Inc. (NASDAQ: RVYL) was born from a passion for empowering a new way to conduct business-to-business, consumer-to-business, and peer-to-peer payment transactions around the globe. By leveraging electronic payment technology for diverse international markets, RYVYL is a leading innovator of payment transaction solutions reinventing the future of financial transactions. Since its founding as GreenBox POS in 2017 in San Diego, RYVYL has developed applications enabling an end-to-end suite of turnkey financial products with enhanced security and data privacy, world-class identity theft protection, and rapid speed to settlement. As a result, the platform can log immense volumes of immutable transactional records at the speed of the internet for first-tier partners, merchants, and consumers around the globe. www.ryvyl.com

    Cautionary Note Regarding Forward-Looking Statements

    This press release includes information that constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the Company’s current beliefs, assumptions and expectations regarding future events, which in turn are based on information currently available to the Company. Such forward-looking statements include statements that are characterized by future or conditional words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate” and “continue” or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information.

    By their nature, forward-looking statements address matters that are subject to risks and uncertainties. A variety of factors could cause actual events and results to differ materially from those expressed in or contemplated by the forward-looking statements. Risk factors affecting the Company are discussed in detail in the Company’s filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

    IR Contact:
    David Barnard, Alliance Advisors Investor Relations, 415-433-3777, ryvylinvestor@allianceadvisors.com

    The MIL Network

  • MIL-OSI: S8 Global Fintech & Regtech Fund (Luxembourg), Strategic Fintech Investor, Reports More Than 10% Ownership Position in RYVYL

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, CA, July 22, 2025 (GLOBE NEWSWIRE) — RYVYL Inc. (NASDAQ: RVYL) (“RYVYL” or the “Company”), a leading innovator of payment transaction solutions, that recently announced pivoting into strategies that may include crypto-currency custodial services, today announced that S8 Global Fintech & Regtech Fund (Luxembourg) (“S8”) recently reported to the SEC an ownership position of approximately 3.6 million shares of RYVYL common stock, or more than 10% of RYVYL’s outstanding shares of common stock, as of July 21, 2025, making it the Company’s largest stockholder.

    S8 Global Fintech & Regtech Fund, a Luxembourg-based alternative investment fund (AIF) that is registered with the CSSF (Commission de Surveillance du Secteur Financier), makes strategic investments in businesses that operate in the Fintech, Regtech, Insurtech and Data Technology industries. RYVYL announced its enhanced business plan including, among other things, crypto-currency custodial services, in a press release on June 16, 2025.

    S8’s portfolio includes companies with established operations in the UK and EU as well as payment processing tools for direct digital asset payments. RYVYL has existing operations in North America and is pursuing strategic opportunities, including plans to initiate a digital asset acquisition strategy. The Company and S8 have had initial discussions and are exploring ways to work together.

    About S8 Global Fintech & Regtech Fund (Luxembourg)

    S8 Global Fintech & Regtech Fund (Luxembourg), with full ownership of UK and EU regulated payment institutions, including My EU Pay Ltd., Cublox Ltd., and ValorPay, UAB, focuses on innovative sectors where technology transforms financial services and operations. This includes Fintech, which leverages technology to improve or automate financial services; Regtech, which applies modern tech to address regulatory and compliance challenges; Insuretech, which modernizes the creation, delivery, and management of insurance products; and Data Technology, which encompasses software tools designed to analyze, process, and extract insights from data. More information can be found here: S8 Fund

    About RYVYL

    RYVYL Inc. (NASDAQ: RVYL) was born from a passion for empowering a new way to conduct business-to-business, consumer-to-business, and peer-to-peer payment transactions around the globe. By leveraging electronic payment technology for diverse international markets, RYVYL is a leading innovator of payment transaction solutions reinventing the future of financial transactions. Since its founding as GreenBox POS in 2017 in San Diego, RYVYL has developed applications enabling an end-to-end suite of turnkey financial products with enhanced security and data privacy, world-class identity theft protection, and rapid speed to settlement. As a result, the platform can log immense volumes of immutable transactional records at the speed of the internet for first-tier partners, merchants, and consumers around the globe. www.ryvyl.com

    Cautionary Note Regarding Forward-Looking Statements

    This press release includes information that constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the Company’s current beliefs, assumptions and expectations regarding future events, which in turn are based on information currently available to the Company. Such forward-looking statements include statements that are characterized by future or conditional words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate” and “continue” or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information.

    By their nature, forward-looking statements address matters that are subject to risks and uncertainties. A variety of factors could cause actual events and results to differ materially from those expressed in or contemplated by the forward-looking statements. Risk factors affecting the Company are discussed in detail in the Company’s filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

    IR Contact:
    David Barnard, Alliance Advisors Investor Relations, 415-433-3777, ryvylinvestor@allianceadvisors.com

    The MIL Network

  • MIL-OSI: Capital City Bank Group, Inc. Reports Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    TALLAHASSEE, Fla., July 22, 2025 (GLOBE NEWSWIRE) — Capital City Bank Group, Inc. (NASDAQ: CCBG) today reported net income attributable to common shareowners of $15.0 million, or $0.88 per diluted share, for the second quarter of 2025 compared to $16.9 million, or $0.99 per diluted share, for the first quarter of 2025, and $14.2 million, or $0.83 per diluted share, for the second quarter of 2024.

    QUARTER HIGHLIGHTS (2ndQuarter 2025 versus 1stQuarter 2025)

    Income Statement

    • Tax-equivalent net interest income totaled $43.2 million compared to $41.6 million for the first quarter of 2025
      • Net interest margin increased eight basis points to 4.30% (earning asset yield increased by six basis points and cost of funds decreased two basis points to 82 basis points)
    • Provision for credit losses decreased by $0.1 million to $0.6 million for the second quarter – net loan charge-offs were comparable to the first quarter of 2025 at nine basis points (annualized) of average loans – allowance coverage ratio increased to 1.13% at June 30, 2025
    • Noninterest income increased by $0.1 million, or 0.5%, reflecting higher deposit and bankcard fees as well as mortgage fees partially offset by lower wealth management fees
    • Noninterest expense increased by $3.8 million, or 9.9%, primarily due to a $3.9 million net gain from the sale of our operations center building (reflected in other expense) in the first quarter of 2025

    Balance Sheet

    • Loan balances decreased by $13.3 million, or 0.5% (average), and decreased by $29.3 million, or 1.1% (end of period)
    • Deposit balances increased by $15.2 million, or 0.4% (average), and decreased by $79.0 million, or 2.1% (end of period) due to the seasonal decrease in our public fund balances
      • Noninterest bearing deposits averaged 36.5% of total deposits for the second quarter and 36.2% for the year
    • Tangible book value per diluted share (non-GAAP financial measure) increased by $0.78, or 3.2%

    “Capital City delivered another strong quarter, highlighted by sustained revenue growth and continued credit strength,” said William G. Smith, Jr, Capital City Bank Group Chairman and CEO. “Our second quarter results reflect a 3.9% increase in net interest income and an 8 basis point expansion in the net interest margin to 4.30%. Tangible book value per share increased by 3.2%, and we further strengthened our capital position, with our tangible capital ratio increasing to 10.1%. We remain focused on executing strategies that drive consistent, profitable growth, supported by a fortress balance sheet that provides resilience and strategic flexibility.”                          

    Discussion of Operating Results

    Net Interest Income/Net Interest Margin

    Tax-equivalent net interest income for the second quarter of 2025 totaled $43.2 million compared to $41.6 million for the first quarter of 2025 and $39.3 million for the second quarter of 2024. Compared to the first quarter of 2025, the increase was driven by a $0.9 million increase in investment securities income and a $0.4 million increase in overnight funds income. One additional calendar day in the second quarter of 2025 contributed to the increase. Compared to the second quarter of 2024, the increase was primarily due to a $2.7 million increase in investment securities income and a $1.2 million decrease in deposit interest expense. New investment purchases at higher yields drove the increase in investment securities income for both prior period comparisons. Further, the decrease in deposit interest expense from the prior year period reflected the gradual decrease in our deposit rates, as short term rates began declining in the second half of 2024.

    For the first six months of 2025, tax-equivalent net interest income totaled $84.8 million compared to $77.8 million for the same period of 2024 with the increase primarily attributable to a $4.2 million increase in investment securities income, a $1.9 million increase in overnight funds income, and a $1.4 million decrease in deposit interest expense. New investment purchases at higher yields drove the increase in investment securities income. Higher average deposit balances contributed to the increase in overnight funds income. The decrease in deposit interest expense reflected the aforementioned decrease in our deposit rates.

    Our net interest margin for the second quarter of 2025 was 4.30%, an increase of eight basis points over the first quarter of 2025 and an increase of 28 basis points over the second quarter of 2024. For the month of June 2025, our net interest margin was 4.36%. For the first six months of 2025, our net interest margin increased by 25 basis points to 4.26% compared to the same period of 2024. The increase in net interest margin over all prior periods reflected a higher yield in the investment portfolio driven by new purchases at higher yields. Lower deposit cost also contributed to the improvement over both prior year periods. For the second quarter of 2025, our cost of funds was 82 basis points, a decrease of two basis points from the first quarter of 2025 and a 15-basis point decrease from the second quarter of 2024. Our cost of deposits (including noninterest bearing accounts) was 81 basis points, 82 basis points, and 95 basis points, respectively, for the same periods.

    Provision for Credit Losses

    We recorded a provision expense for credit losses of $0.6 million for the second quarter of 2025 compared to $0.8 million for the first quarter of 2025 and $1.2 million for the second quarter of 2024. For the first six months of 2025, we recorded a provision expense for credit losses of $1.4 million compared to $2.1 million for the first six months of 2024. Activity within the components of the provision (loans held for investment (“HFI”) and unfunded loan commitments) for each reported period is provided in the table on page 14. We discuss the various factors that impacted our provision expense for Loans HFI in further detail below under the heading Allowance for Credit Losses.

    Noninterest Income and Noninterest Expense

    Noninterest income for the second quarter of 2025 totaled $20.0 million compared to $19.9 million for the first quarter of 2025 and $19.6 million for the second quarter of 2024. The $0.1 million, or 0.5%, increase over the first quarter of 2025 was primarily due to a $0.4 million increase in mortgage banking revenues and a $0.3 million increase in deposit fees, partially offset by a $0.6 million decrease in wealth management fees. The increase in mortgage revenues was driven by an increase in production volume. Fee adjustments made late in the second quarter of 2025 led to the increase in deposit fees. The decrease in wealth management fees was attributable to a decrease in insurance commission revenue. Compared to the second quarter of 2024, the $0.4 million, or 2.1%, increase was primarily due to a $0.8 million increase in wealth management fees, partially offset by a $0.2 million decrease in mortgage banking revenues and a $0.1 million decrease in other income. The increase in wealth management fees reflected a $0.5 million increase in trust fees and a $0.4 million increase in retail brokerage fees, partially offset by a $0.1 million decrease in insurance commission revenue. A combination of new business, higher account valuations, and fee increases implemented in early 2025 drove the improvement in trust and retail brokerage fees.

    For the first six months of 2025, noninterest income totaled $39.9 million compared to $37.7 million for the same period of 2024, primarily attributable to a $1.8 million increase in wealth management fees and a $0.7 million increase in mortgage banking revenues that was partially offset by a $0.2 million decrease in deposit fees. The increase in wealth management fees reflected increases in retail brokerage fees of $1.0 million, trust fees of $0.7 million, and insurance commission revenue of $0.1 million. The increases in retail brokerage and trust fees were attributable to a combination of new business, higher account valuations, and fee increases implemented in early 2025. The increase in mortgage banking revenues was due to a higher gain on sale margin.   

    Noninterest expense for the second quarter of 2025 totaled $42.5 million compared to $38.7 million for the first quarter of 2025 and $40.4 million for the second quarter of 2024. The $3.8 million, or 9.9%, increase over the first quarter of 2025, reflected a $3.3 million increase in other expense, a $0.3 million increase in occupancy expense, and a $0.2 million increase in compensation expense. The increase in other expense was driven by a $4.5 million increase in other real estate expense which reflected lower gains from the sale of banking facilities, primarily the sale of our operations center building in the first quarter of 2025, partially offset by a $0.5 million decrease in charitable contribution expense and a $0.6 million decrease in miscellaneous expense. The slight increase in occupancy expense was due to higher software maintenance agreement expense and maintenance/repairs for buildings and furniture/fixtures. The slight increase in compensation expense reflected a $0.1 million increase in salary expense and a $0.1 million increase in associate benefit expense.   Compared to the second quarter of 2024, the $2.1 million, or 5.2%, increase was primarily due to a $2.1 million increase in compensation expense which reflected a $1.3 million increase in salary expense and a $0.8 million increase in associate benefit expense. The increase in salary expense was primarily due to increases in incentive plan expense of $0.9 million and base salaries of $0.4 million (merit based). The increase in associate benefit expense was attributable to a $0.6 million increase in associate insurance expense and a $0.2 million increase in stock compensation expense.

    For the first six months of 2025, noninterest expense totaled $81.2 million compared to $80.6 million for the same period of 2024 with the $0.6 million, or 0.8%, increase due to a $3.9 million increase in compensation expense that was partially offset by a $3.2 million decrease in other expense and a $0.1 million decrease in occupancy expense. The increase in compensation was due to a $2.5 million increase in salary expense and a $1.4 million increase in associate benefit expense. The increase in salary expense was primarily due to increases in incentive plan expense of $1.2 million, base salaries of $0.9 million (merit based), and commissions of $0.7 million (retail brokerage and mortgage). The increase in associate benefit expense was attributable to a higher cost for associate insurance. The decrease in other expense was primarily due to a $4.5 million decrease in other real estate expense due to lower gains from the sale of banking facilities, and a $1.0 million decrease in miscellaneous expense (non-service component of pension expense), partially offset by increases in processing expense of $1.1 million (outsource of core processing system), charitable contribution expense of $0.7 million, and professional fees of $0.5 million.

    Income Taxes

    We realized income tax expense of $5.0 million (effective rate of 24.9%) for the second quarter of 2025 compared to $5.1 million (effective rate of 23.3%) for the first quarter of 2025 and $3.2 million (effective rate of 18.5%) for the second quarter of 2024. For the first six months of 2025, we realized income tax expense of $10.1 million (effective rate of 24.1%) compared to $6.7 million (effective rate of 20.6%) for the same period of 2024. A lower level of tax benefit accrued from a solar tax credit equity fund drove the increase in our effective tax rate for all prior period comparisons. Absent discrete items or new tax credit investments, we expect our annual effective tax rate to approximate 24% for 2025.

    Discussion of Financial Condition

    Earning Assets

    Average earning assets totaled $4.032 billion for the second quarter of 2025, an increase of $38.1 million, or 1.0%, over the first quarter of 2025, and an increase of $110.1 million, or 2.8%, over the fourth quarter of 2024. The increase over both prior periods was driven by higher average deposit balances (see below – Deposits). Compared to the first quarter of 2025, the change in the earning asset mix reflected a $27.8 million increase in overnight funds and a $25.7 million increase in investment securities that was partially offset by a $13.3 million decrease in loans HFI and a $2.1 million decrease in loans held for sale (“HFS”). Compared to the fourth quarter of 2024, the change in the earning asset mix reflected a $92.8 million increase in investment securities and a $50.5 million increase in overnight funds sold partially offset by a $24.8 million decrease in loans HFI and a $8.4 million decrease in loans HFS.

    Average loans HFI decreased by $13.3 million, or 0.5%, from the first quarter of 2025 and decreased by $24.8 million, or 0.9%, from the fourth quarter of 2024. Compared to the first quarter of 2025, the decrease was due to decreases in construction loans of $24.6 million, consumer loans (primarily indirect auto) of $1.9 million, and commercial loans of $3.4 million, partially offset by increases to residential real estate loans of $10.2 million, commercial real estate loans of $2.1 million, and home equity loans of $4.1 million. Compared to the fourth quarter of 2024, the decline was primarily attributable to decreases in construction loans of $33.2 million, commercial loans of $9.2 million, and consumer loans (primarily indirect auto) of $4.0 million, partially offset by increases in home equity loans of $10.8 million, residential real estate loans of $9.9 million, and commercial real estate loans of $1.9 million.

    Loans HFI at June 30, 2025 decreased by $29.3 million, or 1.1%, from March 31, 2025 and decreased by $20.1 million, or 0.8%, from December 31, 2024. Compared to the first quarter of 2025, the decline was primarily due to decreases in construction loans of $18.2 million, consumer loans (primarily indirect auto) of $8.7 million, commercial loans of $4.4 million, and commercial real estate loans of $4.4 million, partially offset by increases in residential real estate loans of $5.8 million and home equity loans of $2.2 million. Compared to December 31, 2024, the decrease was primarily attributable to decreases in construction loans of $45.9 million, commercial loans of $9.2 million, and consumer loans (primarily indirect auto) of $2.0 million, partially offset by increases in commercial real estate loans of $23.4 million, residential real estate loans of $17.9 million, and home equity loans of $8.1 million.

    Allowance for Credit Losses

    At June 30, 2025, the allowance for credit losses for loans HFI totaled $29.9 million compared to $29.7 million at March 31, 2025 and $29.3 million at December 31, 2024. Activity within the allowance is provided on Page 14. The slight increase in the allowance over March 31, 2025 and December 31, 2024 was primarily attributable to qualitative factor adjustments that were partially offset by lower loan balances. Net loan charge-offs for both the second quarter of 2025 and the first quarter of 2025 were comparable at nine basis points of average loans. At June 30, 2025, the allowance represented 1.13% of loans HFI compared to 1.12% at March 31, 2025, and 1.10% at December 31, 2024.

    Credit Quality

    Nonperforming assets (nonaccrual loans and other real estate) totaled $6.6 million at June 30, 2025 compared to $4.4 million at March 31, 2025 and $6.7 million at December 31, 2024. At June 30, 2025, nonperforming assets as a percentage of total assets was 0.15%, compared to 0.10% at March 31, 2025 and 0.15% at December 31, 2024. Nonaccrual loans totaled $6.4 million at June 30, 2025, a $2.2 million increase over March 31, 2025 and a $0.1 million increase over December 31, 2024 with the increase over the first quarter of 2025 primarily attributable to two home equity loans totaling $1.8 million. Classified loans totaled $28.6 million at June 30, 2025, a $9.4 million increase over March 31, 2025 and a $8.7 million increase over December 31, 2024. The increase over the prior periods was primarily due to the downgrade of four residential real estate loans totaling $4.2 million and two commercial real estate loans totaling $4.3 million.

    Deposits

    Average total deposits were $3.681 billion for the second quarter of 2025, an increase of $15.2 million, or 0.4%, over the first quarter of 2025 and an increase of $80.3 million, or 2.2%, over the fourth quarter of 2024.   Compared to the first quarter of 2025, the increase was attributable to higher core deposit balances (primarily noninterest bearing checking and money market), partially offset by a decline in public funds balances (primarily NOW accounts) due to the seasonal reduction in those balances. The increase over the fourth quarter of 2024 reflected strong growth in core deposit balances and a seasonal increase in public funds balances (primarily NOW) which are received/deposited by those clients starting in December and peak on average in the first quarter.

    At June 30, 2025, total deposits were $3.705 billion, a decrease of $79.0 million, or 2.1%, from March 31, 2025, and an increase of $32.9 million, or 0.9%, over December 31, 2024. The decrease from March 31, 2025 was primarily due to a seasonal decline in public funds balances, (primarily money market and noninterest bearing). The increase over December 31, 2024 reflected higher core deposit balances, primarily noninterest bearing accounts. Public funds totaled $596.6 million at June 30, 2025, $648.0 million at March 31, 2025, and $660.9 million at December 31, 2024.

    Liquidity

    We maintained an average net overnight funds (i.e., deposits with banks plus FED funds sold less FED funds purchased) sold position of $348.8 million in the second quarter of 2025 compared to $320.9 million in the first quarter of 2025 and $298.3 million in the fourth quarter of 2024. Compared to both prior periods, the increase reflected higher average deposits and lower average loans.

    At June 30, 2025, we had the ability to generate approximately $1.603 billion (excludes overnight funds position of $395 million) in additional liquidity through various sources including various federal funds purchased lines, Federal Home Loan Bank borrowings, the Federal Reserve Discount Window, and brokered deposits.

    We also view our investment portfolio as a liquidity source, as we have the option to pledge securities in our portfolio as collateral for borrowings or deposits and/or to sell selected securities in our portfolio. Our portfolio consists of debt issued by the U.S. Treasury, U.S. governmental agencies, municipal governments, and corporate entities. At June 30, 2025, the weighted-average maturity and duration of our portfolio were 2.66 years and 2.14 years, respectively, and the available-for-sale portfolio had a net unrealized after-tax loss of $13.4 million.

    Capital

    Shareowners’ equity was $526.4 million at June 30, 2025 compared to $512.6 million at March 31, 2025 and $495.3 million at December 31, 2024. For the first six months of 2025, shareowners’ equity was positively impacted by net income attributable to shareowners of $31.9 million, a net $5.5 million decrease in the accumulated other comprehensive loss, the issuance of common stock of $2.8 million, and stock compensation accretion of $0.9 million. The net favorable change in accumulated other comprehensive loss reflected a $6.4 million decrease in the investment securities loss that was partially offset by a $0.9 million decrease in the fair value of the interest rate swap related to subordinated debt. Shareowners’ equity was reduced by common stock dividends of $8.2 million ($0.48 per share) and net adjustments totaling $1.8 million related to transactions under our stock compensation plans.

    At June 30, 2025, our total risk-based capital ratio was 19.60% compared to 19.20% at March 31, 2025 and 18.64% at December 31, 2024. Our common equity tier 1 capital ratio was 16.81%, 16.08%, and 15.54%, respectively, on these dates. Our leverage ratio was 11.14%, 11.17%, and 11.05%, respectively, on these dates. At June 30, 2025, all our regulatory capital ratios exceeded the thresholds to be designated as “well-capitalized” under the Basel III capital standards. Further, our tangible common equity ratio (non-GAAP financial measure) was 10.09% at June 30, 2025 compared to 9.61% and 9.51% at March 31, 2025 and December 31, 2024, respectively. If the unrealized loss for held-to-maturity securities of $9.9 million (after-tax) was recognized in accumulated other comprehensive loss, our adjusted tangible capital ratio would be 9.86%.

    About Capital City Bank Group, Inc.

    Capital City Bank Group, Inc. (NASDAQ: CCBG) is one of the largest publicly traded financial holding companies headquartered in Florida and has approximately $4.4 billion in assets. We provide a full range of banking services, including traditional deposit and credit services, mortgage banking, asset management, trust, merchant services, bankcards, securities brokerage services, and financial advisory services, including the sale of life insurance, risk management and asset protection services. Our bank subsidiary, Capital City Bank, was founded in 1895 and now has 62 banking offices and 107 ATMs/ITMs in Florida, Georgia and Alabama. For more information about Capital City Bank Group, Inc., visit https://www.ccbg.com/.

    FORWARD-LOOKING STATEMENTS

    Forward-looking statements in this Press Release are based on current plans and expectations that are subject to uncertainties and risks, which could cause our future results to differ materially. The words “may,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “target,” “vision,” “goal,” and similar expressions are intended to identify forward-looking statements. The following factors, among others, could cause our actual results to differ: the effects of and changes in trade and monetary and fiscal policies and laws, including the interest rate policies of the Federal Reserve Board; inflation, interest rate, market and monetary fluctuations; local, regional, national, and international economic conditions and the impact they may have on us and our clients and our assessment of that impact; the costs and effects of legal and regulatory developments, the outcomes of legal proceedings or regulatory or other governmental inquiries, the results of regulatory examinations or reviews and the ability to obtain required regulatory approvals; the effect of changes in laws and regulations (including laws and regulations concerning taxes, banking, securities, and insurance) and their application with which we and our subsidiaries must comply; the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as other accounting standard setters; the accuracy of our financial statement estimates and assumptions; changes in the financial performance and/or condition of our borrowers; changes in the mix of loan geographies, sectors and types or the level of non-performing assets and charge-offs; changes in estimates of future credit loss reserve requirements based upon the periodic review thereof under relevant regulatory and accounting requirements; changes in our liquidity position; the timely development and acceptance of new products and services and perceived overall value of these products and services by users; changes in consumer spending, borrowing, and saving habits; greater than expected costs or difficulties related to the integration of new products and lines of business; technological changes; the costs and effects of cyber incidents or other failures, interruptions, or security breaches of our systems or those of our customers or third-party providers; acquisitions and integration of acquired businesses; impairment of our goodwill or other intangible assets; changes in the reliability of our vendors, internal control systems, or information systems; our ability to increase market share and control expenses; our ability to attract and retain qualified employees; changes in our organization, compensation, and benefit plans; the soundness of other financial institutions; volatility and disruption in national and international financial and commodity markets; changes in the competitive environment in our markets and among banking organizations and other financial service providers; government intervention in the U.S. financial system; the effects of natural disasters (including hurricanes), widespread health emergencies (including pandemics), military conflict, terrorism, civil unrest, climate change or other geopolitical events; our ability to declare and pay dividends; structural changes in the markets for origination, sale and servicing of residential mortgages; any inability to implement and maintain effective internal control over financial reporting and/or disclosure control; negative publicity and the impact on our reputation; and the limited trading activity and concentration of ownership of our common stock. Additional factors can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and our other filings with the SEC, which are available at the SEC’s internet site (https://www.sec.gov). Forward-looking statements in this Press Release speak only as of the date of the Press Release, and we assume no obligation to update forward-looking statements or the reasons why actual results could differ, except as may be required by law.

    For Information Contact:
    Jep Larkin
    Executive Vice President and Chief Financial Officer
    850.402.8450

    USE OF NON-GAAP FINANCIAL MEASURES
    Unaudited

    We present a tangible common equity ratio and a tangible book value per diluted share that removes the effect of goodwill and other intangibles resulting from merger and acquisition activity. We believe these measures are useful to investors because they allow investors to more easily compare our capital adequacy to other companies in the industry. Non-GAAP financial measures should not be considered alternatives to GAAP-basis financial statements and other bank holding companies may define or calculate these non-GAAP measures or similar measures differently.

    The GAAP to non-GAAP reconciliations are provided below.

    (Dollars in Thousands, except per share data) Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024
    Shareowners’ Equity (GAAP)   $ 526,423 $ 512,575 $ 495,317   476,499 $ 460,999
    Less: Goodwill and Other Intangibles (GAAP)     92,693   92,733   92,773   92,813   92,853
    Tangible Shareowners’ Equity (non-GAAP) A   433,730   419,842   402,544   383,686   368,146
    Total Assets (GAAP)     4,391,753   4,461,233   4,324,932   4,225,316   4,225,695
    Less: Goodwill and Other Intangibles (GAAP)     92,693   92,733   92,773   92,813   92,853
    Tangible Assets (non-GAAP) B $ 4,299,060 $ 4,368,500 $ 4,232,159   4,132,503 $ 4,132,842
    Tangible Common Equity Ratio (non-GAAP) A/B   10.09%   9.61%   9.51%   9.28%   8.91%
    Actual Diluted Shares Outstanding (GAAP) C   17,097,986   17,072,330   17,018,122   16,980,686   16,970,228
    Tangible Book Value per Diluted Share (non-GAAP) A/C $ 25.37 $ 24.59 $ 23.65   22.60 $ 21.69
     
    CAPITAL CITY BANK GROUP, INC.                      
    EARNINGS HIGHLIGHTS                      
    Unaudited                      
                           
        Three Months Ended   Six Months Ended  
    (Dollars in thousands, except per share data)   Jun 30, 2025   Mar 31, 2025   Jun 30, 2024   Jun 30, 2025   Jun 30, 2024  
    EARNINGS                      
    Net Income Attributable to Common Shareowners $ 15,044 $ 16,858 $ 14,150 $ 31,902 $ 26,707  
    Diluted Net Income Per Share $ 0.88 $ 0.99 $ 0.83 $ 1.87 $ 1.57  
    PERFORMANCE                      
    Return on Average Assets (annualized)   1.38 % 1.58 % 1.33 % 1.48 % 1.27 %
    Return on Average Equity (annualized)   11.44   13.32   12.23   12.36   11.66  
    Net Interest Margin   4.30   4.22   4.02   4.26   4.01  
    Noninterest Income as % of Operating Revenue   31.67   32.39   33.30   32.03   32.69  
    Efficiency Ratio   67.26 % 62.93 % 68.61 % 65.13 % 69.81 %
    CAPITAL ADEQUACY                      
    Tier 1 Capital   18.38 % 18.01 % 16.31 % 18.38 % 16.31 %
    Total Capital   19.60   19.20   17.50   19.60   17.50  
    Leverage   11.14   11.17   10.51   11.14   10.51  
    Common Equity Tier 1   16.81   16.08   14.44   16.81   14.44  
    Tangible Common Equity(1)   10.09   9.61   8.91   10.09   8.91  
    Equity to Assets   11.99 % 11.49 % 10.91 % 11.99 % 10.91 %
    ASSET QUALITY                      
    Allowance as % of Non-Performing Loans   463.01 % 692.10 % 529.79 % 463.01 % 529.79 %
    Allowance as a % of Loans HFI   1.13   1.12   1.09   1.13   1.09  
    Net Charge-Offs as % of Average Loans HFI   0.09   0.09   0.18   0.09   0.20  
    Nonperforming Assets as % of Loans HFI and OREO   0.25   0.17   0.23   0.25   0.23  
    Nonperforming Assets as % of Total Assets   0.15 % 0.10 % 0.15 % 0.15 % 0.15 %
    STOCK PERFORMANCE                      
    High $ 39.82 $ 38.27 $ 28.58 $ 39.82 $ 31.34  
    Low   32.38   33.00   25.45   32.38   25.45  
    Close $ 39.35 $ 35.96 $ 28.44 $ 39.35 $ 28.44  
    Average Daily Trading Volume   27,397   24,486   29,861   25,988   30,433  
                           
    (1)Tangible common equity ratio is a non-GAAP financial measure. For additional information, including a reconciliation to GAAP, refer to Page 10.        
     
    CAPITAL CITY BANK GROUP, INC.                    
    CONSOLIDATED STATEMENT OF FINANCIAL CONDITION            
    Unaudited                    
                         
      2025   2024
    (Dollars in thousands) Second Quarter   First Quarter   Fourth Quarter   Third Quarter   Second Quarter
    ASSETS                    
    Cash and Due From Banks $ 78,485   $ 78,521   $ 70,543   $ 83,431   $ 75,304  
    Funds Sold and Interest Bearing Deposits   394,917     446,042     321,311     261,779     272,675  
    Total Cash and Cash Equivalents   473,402     524,563     391,854     345,210     347,979  
                         
    Investment Securities Available for Sale   533,457     461,224     403,345     336,187     310,941  
    Investment Securities Held to Maturity   462,599     517,176     567,155     561,480     582,984  
    Other Equity Securities   3,242     2,315     2,399     6,976     2,537  
    Total Investment Securities   999,298     980,715     972,899     904,643     896,462  
                         
    Loans Held for Sale (“HFS”):   19,181     21,441     28,672     31,251     24,022  
                         
    Loans Held for Investment (“HFI”):                    
    Commercial, Financial, & Agricultural   180,008     184,393     189,208     194,625     204,990  
    Real Estate – Construction   174,115     192,282     219,994     218,899     200,754  
    Real Estate – Commercial   802,504     806,942     779,095     819,955     823,122  
    Real Estate – Residential   1,046,368     1,040,594     1,028,498     1,023,485     1,012,541  
    Real Estate – Home Equity   228,201     225,987     220,064     210,988     211,126  
    Consumer   197,483     206,191     199,479     213,305     234,212  
    Other Loans   1,552     3,227     14,006     461     2,286  
    Overdrafts   1,259     1,154     1,206     1,378     1,192  
    Total Loans Held for Investment   2,631,490     2,660,770     2,651,550     2,683,096     2,690,223  
    Allowance for Credit Losses   (29,862 )   (29,734 )   (29,251 )   (29,836 )   (29,219 )
    Loans Held for Investment, Net   2,601,628     2,631,036     2,622,299     2,653,260     2,661,004  
                         
    Premises and Equipment, Net   79,906     80,043     81,952     81,876     81,414  
    Goodwill and Other Intangibles   92,693     92,733     92,773     92,813     92,853  
    Other Real Estate Owned   132     132     367     650     650  
    Other Assets   125,513     130,570     134,116     115,613     121,311  
    Total Other Assets   298,244     303,478     309,208     290,952     296,228  
    Total Assets $ 4,391,753   $ 4,461,233   $ 4,324,932   $ 4,225,316   $ 4,225,695  
    LIABILITIES                    
    Deposits:                    
    Noninterest Bearing Deposits $ 1,332,080   $ 1,363,739   $ 1,306,254   $ 1,330,715   $ 1,343,606  
    NOW Accounts   1,284,137     1,292,654     1,285,281     1,174,585     1,177,180  
    Money Market Accounts   408,666     445,999     404,396     401,272     413,594  
    Savings Accounts   504,331     511,265     506,766     507,604     514,560  
    Certificates of Deposit   175,639     170,233     169,280     164,901     159,624  
    Total Deposits   3,704,853     3,783,890     3,671,977     3,579,077     3,608,564  
                         
    Repurchase Agreements   21,800     22,799     26,240     29,339     22,463  
    Other Short-Term Borrowings   12,741     14,401     2,064     7,929     3,307  
    Subordinated Notes Payable   42,582     52,887     52,887     52,887     52,887  
    Other Long-Term Borrowings   680     794     794     794     1,009  
    Other Liabilities   82,674     73,887     75,653     71,974     69,987  
    Total Liabilities   3,865,330     3,948,658     3,829,615     3,742,000     3,758,217  
                         
    Temporary Equity               6,817     6,479  
    SHAREOWNERS’ EQUITY                    
    Common Stock   171     171     170     169     169  
    Additional Paid-In Capital   39,527     38,576     37,684     36,070     35,547  
    Retained Earnings   487,665     476,715     463,949     454,342     445,959  
    Accumulated Other Comprehensive Loss, Net of Tax   (940 )   (2,887 )   (6,486 )   (14,082 )   (20,676 )
    Total Shareowners’ Equity   526,423     512,575     495,317     476,499     460,999  
    Total Liabilities, Temporary Equity and Shareowners’ Equity $ 4,391,753   $ 4,461,233   $ 4,324,932   $ 4,225,316   $ 4,225,695  
    OTHER BALANCE SHEET DATA                    
    Earning Assets $ 4,044,886   $ 4,108,969   $ 3,974,431   $ 3,880,769   $ 3,883,382  
    Interest Bearing Liabilities   2,450,576     2,511,032     2,447,708     2,339,311     2,344,624  
    Book Value Per Diluted Share $ 30.79   $ 30.02   $ 29.11   $ 28.06   $ 27.17  
    Tangible Book Value Per Diluted Share(1)   25.37     24.59     23.65     22.60     21.69  
    Actual Basic Shares Outstanding   17,066     17,055     16,975     16,944     16,942  
    Actual Diluted Shares Outstanding   17,098     17,072     17,018     16,981     16,970  
    (1)Tangible book value per diluted share is a non-GAAP financial measure. For additional information, including a reconciliation to GAAP, refer to Page 10.
     
    CAPITAL CITY BANK GROUP, INC.                            
    CONSOLIDATED STATEMENT OF OPERATIONS                      
    Unaudited                            
                                 
        2025   2024   Six Months Ended June 30,
    (Dollars in thousands, except per share data)   Second Quarter   First Quarter   Fourth Quarter   Third Quarter   Second Quarter   2025   2024
    INTEREST INCOME                            
    Loans, including Fees $ 40,872 $ 40,478 $ 41,453   $ 41,659 $ 41,138 $ 81,350 $ 81,821
    Investment Securities   6,678   5,808   4,694     4,155   4,004   12,486   8,248
    Federal Funds Sold and Interest Bearing Deposits   3,909   3,496   3,596     3,514   3,624   7,405   5,517
    Total Interest Income   51,459   49,782   49,743     49,328   48,766   101,241   95,586
    INTEREST EXPENSE                            
    Deposits   7,405   7,383   7,766     8,223   8,579   14,788   16,173
    Repurchase Agreements   156   164   199     221   217   320   418
    Other Short-Term Borrowings   179   117   83     52   68   296   107
    Subordinated Notes Payable   530   560   581     610   630   1,090   1,258
    Other Long-Term Borrowings   5   11   11     11   3   16   6
    Total Interest Expense   8,275   8,235   8,640     9,117   9,497   16,510   17,962
    Net Interest Income   43,184   41,547   41,103     40,211   39,269   84,731   77,624
    Provision for Credit Losses   620   768   701     1,206   1,204   1,388   2,124
    Net Interest Income after Provision for Credit Losses   42,564   40,779   40,402     39,005   38,065   83,343   75,500
    NONINTEREST INCOME                            
    Deposit Fees   5,320   5,061   5,207     5,512   5,377   10,381   10,627
    Bank Card Fees   3,774   3,514   3,697     3,624   3,766   7,288   7,386
    Wealth Management Fees   5,206   5,763   5,222     4,770   4,439   10,969   9,121
    Mortgage Banking Revenues   4,190   3,820   3,118     3,966   4,381   8,010   7,259
    Other   1,524   1,749   1,516     1,641   1,643   3,273   3,310
    Total Noninterest Income   20,014   19,907   18,760     19,513   19,606   39,921   37,703
    NONINTEREST EXPENSE                            
    Compensation   26,490   26,248   26,108     25,800   24,406   52,738   48,813
    Occupancy, Net   7,071   6,793   6,893     7,098   6,997   13,864   13,991
    Other   8,977   5,660   8,781     10,023   9,038   14,637   17,808
    Total Noninterest Expense   42,538   38,701   41,782     42,921   40,441   81,239   80,612
    OPERATING PROFIT   20,040   21,985   17,380     15,597   17,230   42,025   32,591
    Income Tax Expense   4,996   5,127   4,219     2,980   3,189   10,123   6,725
    Net Income   15,044   16,858   13,161     12,617   14,041   31,902   25,866
    Pre-Tax (Income) Loss Attributable to Noncontrolling Interest       (71 )   501   109     841
    NET INCOME ATTRIBUTABLE TO
    COMMON SHAREOWNERS
    $ 15,044 $ 16,858 $ 13,090   $ 13,118 $ 14,150 $ 31,902 $ 26,707
    PER COMMON SHARE                            
    Basic Net Income $ 0.88 $ 0.99 $ 0.77   $ 0.77 $ 0.84 $ 1.87 $ 1.58
    Diluted Net Income   0.88   0.99   0.77     0.77   0.83   1.87   1.57
    Cash Dividend $ 0.24 $ 0.24 $ 0.23   $ 0.23 $ 0.21 $ 0.48 $ 0.42
    AVERAGE SHARES                            
    Basic   17,056   17,027   16,946     16,943   16,931   17,042   16,941
    Diluted   17,088   17,044   16,990     16,979   16,960   17,067   16,964
     
    CAPITAL CITY BANK GROUP, INC.                            
    ALLOWANCE FOR CREDIT LOSSES (“ACL”)                        
    AND CREDIT QUALITY                            
    Unaudited                            
                                 
        2025     2024     Six Months Ended June 30,
    (Dollars in thousands, except per share data)   Second Quarter   First Quarter   Fourth Quarter   Third Quarter   Second Quarter   2025     2024  
    ACL – HELD FOR INVESTMENT LOANS                            
    Balance at Beginning of Period $ 29,734   $ 29,251   $ 29,836   $ 29,219   $ 29,329   $ 29,251   $ 29,941  
    Transfer from Other (Assets) Liabilities                           (50 )
    Provision for Credit Losses   718     1,083     1,085     1,879     1,129     1,801     2,061  
    Net Charge-Offs (Recoveries)   590     600     1,670     1,262     1,239     1,190     2,733  
    Balance at End of Period $ 29,862   $ 29,734   $ 29,251   $ 29,836   $ 29,219   $ 29,862   $ 29,219  
    As a % of Loans HFI   1.13 %   1.12 %   1.10 %   1.11 %   1.09 %   1.13 %   1.09 %
    As a % of Nonperforming Loans   463.01 %   692.10 %   464.14 %   452.64 %   529.79 %   463.01 %   529.79 %
    ACL – UNFUNDED COMMITMENTS                            
    Balance at Beginning of Period   1,832   $ 2,155   $ 2,522   $ 3,139   $ 3,121   $ 2,155   $ 3,191  
    Provision for Credit Losses   (94 )   (323 )   (367 )   (617 )   18     (417 )   (52 )
    Balance at End of Period(1)   1,738     1,832     2,155     2,522     3,139     1,738     3,139  
    ACL – DEBT SECURITIES                            
    Provision for Credit Losses $ (4 ) $ 8   $ (17 ) $ (56 ) $ 57   $ 4   $ 115  
    CHARGE-OFFS                            
    Commercial, Financial and Agricultural $ 74   $ 168   $ 499   $ 331   $ 400   $ 242   $ 682  
    Real Estate – Construction           47                  
    Real Estate – Commercial               3              
    Real Estate – Residential   49     8     44             57     17  
    Real Estate – Home Equity   24         33     23         24     76  
    Consumer   914     865     1,307     1,315     1,061     1,779     2,611  
    Overdrafts   437     570     574     611     571     1,007     1,209  
    Total Charge-Offs $ 1,498   $ 1,611   $ 2,504   $ 2,283   $ 2,032   $ 3,109   $ 4,595  
    RECOVERIES                            
    Commercial, Financial and Agricultural $ 117   $ 75   $ 103   $ 176   $ 59   $ 192   $ 100  
    Real Estate – Construction           3                  
    Real Estate – Commercial   6     3     33     5     19     9     223  
    Real Estate – Residential   65     119     28     88     23     184     60  
    Real Estate – Home Equity   42     9     17     59     37     51     61  
    Consumer   456     481     352     405     313     937     723  
    Overdrafts   222     324     298     288     342     546     695  
    Total Recoveries $ 908   $ 1,011   $ 834   $ 1,021   $ 793   $ 1,919   $ 1,862  
    NET CHARGE-OFFS (RECOVERIES) $ 590   $ 600   $ 1,670   $ 1,262   $ 1,239   $ 1,190   $ 2,733  
    Net Charge-Offs as a % of Average Loans HFI(2)   0.09 %   0.09 %   0.25 %   0.19 %   0.18 %   0.09 %   0.20 %
    CREDIT QUALITY                            
    Nonaccruing Loans $ 6,449   $ 4,296   $ 6,302   $ 6,592   $ 5,515          
    Other Real Estate Owned   132     132     367     650     650          
    Total Nonperforming Assets (“NPAs”) $ 6,581   $ 4,428   $ 6,669   $ 7,242   $ 6,165          
                                 
    Past Due Loans 30-89 Days $ 4,523   $ 3,735   $ 4,311   $ 9,388   $ 5,672          
    Classified Loans   28,623     19,194     19,896     25,501     25,566          
                                 
    Nonperforming Loans as a % of Loans HFI   0.25 %   0.16 %   0.24 %   0.25 %   0.21 %        
    NPAs as a % of Loans HFI and Other Real Estate   0.25 %   0.17 %   0.25 %   0.27 %   0.23 %        
    NPAs as a % of Total Assets   0.15 %   0.10 %   0.15 %   0.17 %   0.15 %        
                                 
    (1)Recorded in other liabilities                            
    (2)Annualized                            
     
    CAPITAL CITY BANK GROUP, INC.                                                                                        
    AVERAGE BALANCE AND INTEREST RATES                                                                                        
    Unaudited                                                                                                    
                                                                                                         
        Second Quarter 2025     First Quarter 2025     Fourth Quarter 2024     Third Quarter 2024     Second Quarter 2024       June 2025 YTD     June 2024 YTD  
    (Dollars in thousands)   Average
    Balance
      Interest   Average
    Rate
        Average
    Balance
      Interest   Average
    Rate
        Average
    Balance
      Interest   Average
    Rate
        Average
    Balance
      Interest   Average
    Rate
        Average
    Balance
      Interest   Average
    Rate
          Average
    Balance
      Interest   Average
    Rate
        Average
    Balance
      Interest   Average
    Rate
     
    ASSETS:                                                                                                    
    Loans Held for Sale $ 22,668   $ 475   8.40 % $ 24,726   $ 490   8.04 % $ 31,047   $ 976   7.89 % $ 24,570     720   7.49 % $ 26,281   $ 517   5.26 %   $ 23,692   $ 965   8.21 % $ 26,797   $ 1,080   5.62 %
    Loans Held for Investment(1)   2,652,572     40,436   6.11     2,665,910     40,029   6.09     2,677,396     40,521   6.07     2,693,533     40,985   6.09     2,726,748     40,683   6.03       2,659,204     80,465   6.10     2,727,688     80,879   5.99  
                                                                                                         
    Investment Securities                                                                                                    
    Taxable Investment Securities   1,006,514     6,666   2.65     981,485     5,802   2.38     914,353     4,688   2.04     907,610     4,148   1.82     918,989     3,998   1.74       994,068     12,468   2.52     935,658     8,237   1.76  
    Tax-Exempt Investment Securities(1)   1,467     17   4.50     845     9   4.32     849     9   4.31     846     10   4.33     843     9   4.36       1,158     26   4.43     850     18   4.35  
                                                                                                         
    Total Investment Securities   1,007,981     6,683   2.65     982,330     5,811   2.38     915,202     4,697   2.04     908,456     4,158   1.82     919,832     4,007   1.74       995,226     12,494   2.52     936,508     8,255   1.76  
                                                                                                         
    Federal Funds Sold and Interest Bearing Deposits   348,787     3,909   4.49     320,948     3,496   4.42     298,255     3,596   4.80     256,855     3,514   5.44     262,419     3,624   5.56       334,944     7,405   4.46     201,454     5,517   5.51  
                                                                                                         
    Total Earning Assets   4,032,008   $ 51,503   5.12 %   3,993,914   $ 49,826   5.06 %   3,921,900   $ 49,790   5.05 %   3,883,414   $ 49,377   5.06 %   3,935,280   $ 48,831   4.99 %     4,013,066   $ 101,329   5.09 %   3,892,447   $ 95,731   4.94 %
                                                                                                         
    Cash and Due From Banks   65,761               73,467               73,992               70,994               74,803                 69,593               75,283            
    Allowance for Credit Losses   (30,492 )             (30,008 )             (30,107 )             (29,905 )             (29,564 )               (30,251 )             (29,797 )          
    Other Assets   302,984               297,660               293,884               291,359               291,669                 300,336               293,473            
                                                                                                         
    Total Assets $ 4,370,261             $ 4,335,033             $ 4,259,669             $ 4,215,862             $ 4,272,188               $ 4,352,744             $ 4,231,406            
                                                                                                         
    LIABILITIES:                                                                                                    
    Noninterest Bearing Deposits $ 1,342,304             $ 1,317,425             $ 1,323,556             $ 1,332,305             $ 1,346,546               $ 1,329,933             $ 1,345,367            
    NOW Accounts   1,225,697   $ 3,750   1.23 %   1,249,955   $ 3,854   1.25 %   1,182,073   $ 3,826   1.29 %   1,145,544   $ 4,087   1.42 %   1,207,643   $ 4,425   1.47 %     1,237,759   $ 7,604   1.24 %   1,204,337   $ 8,922   1.49 %
    Money Market Accounts   431,774     2,340   2.17     420,059     2,187   2.11     422,615     2,526   2.38     418,625     2,694   2.56     407,387     2,752   2.72       425,949     4,527   2.14     380,489     4,737   2.50  
    Savings Accounts   507,950     174   0.14     507,676     176   0.14     504,859     179   0.14     512,098     180   0.14     519,374     176   0.14       507,813     350   0.14     529,374     364   0.14  
    Time Deposits   172,982     1,141   2.65     170,367     1,166   2.78     167,321     1,235   2.94     163,462     1,262   3.07     160,078     1,226   3.08       171,682     2,307   2.71     149,203     2,150   2.90  
    Total Interest Bearing Deposits   2,338,403     7,405   1.27     2,348,057     7,383   1.28     2,276,868     7,766   1.36     2,239,729     8,223   1.46     2,294,482     8,579   1.50       2,343,203     14,788   1.27     2,263,403     16,173   1.44  
    Total Deposits   3,680,707     7,405   0.81     3,665,482     7,383   0.82     3,600,424     7,766   0.86     3,572,034     8,223   0.92     3,641,028     8,579   0.95       3,673,136     14,788   0.81     3,608,770     16,173   0.90  
    Repurchase Agreements   22,557     156   2.78     29,821     164   2.23     28,018     199   2.82     27,126     221   3.24     26,999     217   3.24       26,169     320   2.47     26,362     418   3.19  
    Other Short-Term Borrowings   10,503     179   6.82     7,437     117   6.39     6,510     83   5.06     2,673     52   7.63     6,592     68   4.16       8,978     296   6.64     5,176     107   4.16  
    Subordinated Notes Payable   51,981     530   4.03     52,887     560   4.23     52,887     581   4.30     52,887     610   4.52     52,887     630   4.71       52,432     1,090   4.13     52,887     1,258   4.70  
    Other Long-Term Borrowings   792     5   2.41     794     11   5.68     794     11   5.57     795     11   5.55     258     3   4.31       793     16   4.04     270     6   4.56  
    Total Interest Bearing Liabilities   2,424,236   $ 8,275   1.37 %   2,438,996   $ 8,235   1.37 %   2,365,077   $ 8,640   1.45 %   2,323,210   $ 9,117   1.56 %   2,381,218   $ 9,497   1.60 %     2,431,575   $ 16,510   1.37 %   2,348,098   $ 17,962   1.54 %
                                                                                                         
    Other Liabilities   76,138               65,211               73,130               73,767               72,634                 70,705               70,464            
                                                                                                         
    Total Liabilities   3,842,678               3,821,632               3,761,763               3,729,282               3,800,398                 3,832,213               3,763,929            
    Temporary Equity                               6,763               6,443               6,493                               6,821            
                                                                                                         
    SHAREOWNERS’ EQUITY:   527,583               513,401               491,143               480,137               465,297                 520,531               460,656            
                                                                                                         
    Total Liabilities, Temporary Equity and Shareowners’ Equity $ 4,370,261             $ 4,335,033             $ 4,259,669             $ 4,215,862             $ 4,272,188               $ 4,352,744             $ 4,231,406            
                                                                                                         
    Interest Rate Spread     $ 43,228   3.75 %     $ 41,591   3.69 %     $ 41,150   3.59 %     $ 40,260   3.49 %     $ 39,334   3.38 %       $ 84,819   3.72 %     $ 77,769   3.40 %
                                                                                                         
    Interest Income and Rate Earned(1)       51,503   5.12         49,826   5.06         49,790   5.05         49,377   5.06         48,831   4.99           101,329   5.09         95,731   4.94  
    Interest Expense and Rate Paid(2)       8,275   0.82         8,235   0.84         8,640   0.88         9,117   0.93         9,497   0.97           16,510   0.83         17,962   0.93  
                                                                                                         
    Net Interest Margin     $ 43,228   4.30 %     $ 41,591   4.22 %     $ 41,150   4.17 %     $ 40,260   4.12 %     $ 39,334   4.02 %       $ 84,819   4.26 %     $ 77,769   4.01 %
                                                                                                         
    (1)Interest and average rates are calculated on a tax-equivalent basis using a 21% Federal tax rate.                                                                  
    (2)Rate calculated based on average earning assets.                                                                       

    The MIL Network

  • MIL-OSI: Capital City Bank Group, Inc. Reports Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    TALLAHASSEE, Fla., July 22, 2025 (GLOBE NEWSWIRE) — Capital City Bank Group, Inc. (NASDAQ: CCBG) today reported net income attributable to common shareowners of $15.0 million, or $0.88 per diluted share, for the second quarter of 2025 compared to $16.9 million, or $0.99 per diluted share, for the first quarter of 2025, and $14.2 million, or $0.83 per diluted share, for the second quarter of 2024.

    QUARTER HIGHLIGHTS (2ndQuarter 2025 versus 1stQuarter 2025)

    Income Statement

    • Tax-equivalent net interest income totaled $43.2 million compared to $41.6 million for the first quarter of 2025
      • Net interest margin increased eight basis points to 4.30% (earning asset yield increased by six basis points and cost of funds decreased two basis points to 82 basis points)
    • Provision for credit losses decreased by $0.1 million to $0.6 million for the second quarter – net loan charge-offs were comparable to the first quarter of 2025 at nine basis points (annualized) of average loans – allowance coverage ratio increased to 1.13% at June 30, 2025
    • Noninterest income increased by $0.1 million, or 0.5%, reflecting higher deposit and bankcard fees as well as mortgage fees partially offset by lower wealth management fees
    • Noninterest expense increased by $3.8 million, or 9.9%, primarily due to a $3.9 million net gain from the sale of our operations center building (reflected in other expense) in the first quarter of 2025

    Balance Sheet

    • Loan balances decreased by $13.3 million, or 0.5% (average), and decreased by $29.3 million, or 1.1% (end of period)
    • Deposit balances increased by $15.2 million, or 0.4% (average), and decreased by $79.0 million, or 2.1% (end of period) due to the seasonal decrease in our public fund balances
      • Noninterest bearing deposits averaged 36.5% of total deposits for the second quarter and 36.2% for the year
    • Tangible book value per diluted share (non-GAAP financial measure) increased by $0.78, or 3.2%

    “Capital City delivered another strong quarter, highlighted by sustained revenue growth and continued credit strength,” said William G. Smith, Jr, Capital City Bank Group Chairman and CEO. “Our second quarter results reflect a 3.9% increase in net interest income and an 8 basis point expansion in the net interest margin to 4.30%. Tangible book value per share increased by 3.2%, and we further strengthened our capital position, with our tangible capital ratio increasing to 10.1%. We remain focused on executing strategies that drive consistent, profitable growth, supported by a fortress balance sheet that provides resilience and strategic flexibility.”                          

    Discussion of Operating Results

    Net Interest Income/Net Interest Margin

    Tax-equivalent net interest income for the second quarter of 2025 totaled $43.2 million compared to $41.6 million for the first quarter of 2025 and $39.3 million for the second quarter of 2024. Compared to the first quarter of 2025, the increase was driven by a $0.9 million increase in investment securities income and a $0.4 million increase in overnight funds income. One additional calendar day in the second quarter of 2025 contributed to the increase. Compared to the second quarter of 2024, the increase was primarily due to a $2.7 million increase in investment securities income and a $1.2 million decrease in deposit interest expense. New investment purchases at higher yields drove the increase in investment securities income for both prior period comparisons. Further, the decrease in deposit interest expense from the prior year period reflected the gradual decrease in our deposit rates, as short term rates began declining in the second half of 2024.

    For the first six months of 2025, tax-equivalent net interest income totaled $84.8 million compared to $77.8 million for the same period of 2024 with the increase primarily attributable to a $4.2 million increase in investment securities income, a $1.9 million increase in overnight funds income, and a $1.4 million decrease in deposit interest expense. New investment purchases at higher yields drove the increase in investment securities income. Higher average deposit balances contributed to the increase in overnight funds income. The decrease in deposit interest expense reflected the aforementioned decrease in our deposit rates.

    Our net interest margin for the second quarter of 2025 was 4.30%, an increase of eight basis points over the first quarter of 2025 and an increase of 28 basis points over the second quarter of 2024. For the month of June 2025, our net interest margin was 4.36%. For the first six months of 2025, our net interest margin increased by 25 basis points to 4.26% compared to the same period of 2024. The increase in net interest margin over all prior periods reflected a higher yield in the investment portfolio driven by new purchases at higher yields. Lower deposit cost also contributed to the improvement over both prior year periods. For the second quarter of 2025, our cost of funds was 82 basis points, a decrease of two basis points from the first quarter of 2025 and a 15-basis point decrease from the second quarter of 2024. Our cost of deposits (including noninterest bearing accounts) was 81 basis points, 82 basis points, and 95 basis points, respectively, for the same periods.

    Provision for Credit Losses

    We recorded a provision expense for credit losses of $0.6 million for the second quarter of 2025 compared to $0.8 million for the first quarter of 2025 and $1.2 million for the second quarter of 2024. For the first six months of 2025, we recorded a provision expense for credit losses of $1.4 million compared to $2.1 million for the first six months of 2024. Activity within the components of the provision (loans held for investment (“HFI”) and unfunded loan commitments) for each reported period is provided in the table on page 14. We discuss the various factors that impacted our provision expense for Loans HFI in further detail below under the heading Allowance for Credit Losses.

    Noninterest Income and Noninterest Expense

    Noninterest income for the second quarter of 2025 totaled $20.0 million compared to $19.9 million for the first quarter of 2025 and $19.6 million for the second quarter of 2024. The $0.1 million, or 0.5%, increase over the first quarter of 2025 was primarily due to a $0.4 million increase in mortgage banking revenues and a $0.3 million increase in deposit fees, partially offset by a $0.6 million decrease in wealth management fees. The increase in mortgage revenues was driven by an increase in production volume. Fee adjustments made late in the second quarter of 2025 led to the increase in deposit fees. The decrease in wealth management fees was attributable to a decrease in insurance commission revenue. Compared to the second quarter of 2024, the $0.4 million, or 2.1%, increase was primarily due to a $0.8 million increase in wealth management fees, partially offset by a $0.2 million decrease in mortgage banking revenues and a $0.1 million decrease in other income. The increase in wealth management fees reflected a $0.5 million increase in trust fees and a $0.4 million increase in retail brokerage fees, partially offset by a $0.1 million decrease in insurance commission revenue. A combination of new business, higher account valuations, and fee increases implemented in early 2025 drove the improvement in trust and retail brokerage fees.

    For the first six months of 2025, noninterest income totaled $39.9 million compared to $37.7 million for the same period of 2024, primarily attributable to a $1.8 million increase in wealth management fees and a $0.7 million increase in mortgage banking revenues that was partially offset by a $0.2 million decrease in deposit fees. The increase in wealth management fees reflected increases in retail brokerage fees of $1.0 million, trust fees of $0.7 million, and insurance commission revenue of $0.1 million. The increases in retail brokerage and trust fees were attributable to a combination of new business, higher account valuations, and fee increases implemented in early 2025. The increase in mortgage banking revenues was due to a higher gain on sale margin.   

    Noninterest expense for the second quarter of 2025 totaled $42.5 million compared to $38.7 million for the first quarter of 2025 and $40.4 million for the second quarter of 2024. The $3.8 million, or 9.9%, increase over the first quarter of 2025, reflected a $3.3 million increase in other expense, a $0.3 million increase in occupancy expense, and a $0.2 million increase in compensation expense. The increase in other expense was driven by a $4.5 million increase in other real estate expense which reflected lower gains from the sale of banking facilities, primarily the sale of our operations center building in the first quarter of 2025, partially offset by a $0.5 million decrease in charitable contribution expense and a $0.6 million decrease in miscellaneous expense. The slight increase in occupancy expense was due to higher software maintenance agreement expense and maintenance/repairs for buildings and furniture/fixtures. The slight increase in compensation expense reflected a $0.1 million increase in salary expense and a $0.1 million increase in associate benefit expense.   Compared to the second quarter of 2024, the $2.1 million, or 5.2%, increase was primarily due to a $2.1 million increase in compensation expense which reflected a $1.3 million increase in salary expense and a $0.8 million increase in associate benefit expense. The increase in salary expense was primarily due to increases in incentive plan expense of $0.9 million and base salaries of $0.4 million (merit based). The increase in associate benefit expense was attributable to a $0.6 million increase in associate insurance expense and a $0.2 million increase in stock compensation expense.

    For the first six months of 2025, noninterest expense totaled $81.2 million compared to $80.6 million for the same period of 2024 with the $0.6 million, or 0.8%, increase due to a $3.9 million increase in compensation expense that was partially offset by a $3.2 million decrease in other expense and a $0.1 million decrease in occupancy expense. The increase in compensation was due to a $2.5 million increase in salary expense and a $1.4 million increase in associate benefit expense. The increase in salary expense was primarily due to increases in incentive plan expense of $1.2 million, base salaries of $0.9 million (merit based), and commissions of $0.7 million (retail brokerage and mortgage). The increase in associate benefit expense was attributable to a higher cost for associate insurance. The decrease in other expense was primarily due to a $4.5 million decrease in other real estate expense due to lower gains from the sale of banking facilities, and a $1.0 million decrease in miscellaneous expense (non-service component of pension expense), partially offset by increases in processing expense of $1.1 million (outsource of core processing system), charitable contribution expense of $0.7 million, and professional fees of $0.5 million.

    Income Taxes

    We realized income tax expense of $5.0 million (effective rate of 24.9%) for the second quarter of 2025 compared to $5.1 million (effective rate of 23.3%) for the first quarter of 2025 and $3.2 million (effective rate of 18.5%) for the second quarter of 2024. For the first six months of 2025, we realized income tax expense of $10.1 million (effective rate of 24.1%) compared to $6.7 million (effective rate of 20.6%) for the same period of 2024. A lower level of tax benefit accrued from a solar tax credit equity fund drove the increase in our effective tax rate for all prior period comparisons. Absent discrete items or new tax credit investments, we expect our annual effective tax rate to approximate 24% for 2025.

    Discussion of Financial Condition

    Earning Assets

    Average earning assets totaled $4.032 billion for the second quarter of 2025, an increase of $38.1 million, or 1.0%, over the first quarter of 2025, and an increase of $110.1 million, or 2.8%, over the fourth quarter of 2024. The increase over both prior periods was driven by higher average deposit balances (see below – Deposits). Compared to the first quarter of 2025, the change in the earning asset mix reflected a $27.8 million increase in overnight funds and a $25.7 million increase in investment securities that was partially offset by a $13.3 million decrease in loans HFI and a $2.1 million decrease in loans held for sale (“HFS”). Compared to the fourth quarter of 2024, the change in the earning asset mix reflected a $92.8 million increase in investment securities and a $50.5 million increase in overnight funds sold partially offset by a $24.8 million decrease in loans HFI and a $8.4 million decrease in loans HFS.

    Average loans HFI decreased by $13.3 million, or 0.5%, from the first quarter of 2025 and decreased by $24.8 million, or 0.9%, from the fourth quarter of 2024. Compared to the first quarter of 2025, the decrease was due to decreases in construction loans of $24.6 million, consumer loans (primarily indirect auto) of $1.9 million, and commercial loans of $3.4 million, partially offset by increases to residential real estate loans of $10.2 million, commercial real estate loans of $2.1 million, and home equity loans of $4.1 million. Compared to the fourth quarter of 2024, the decline was primarily attributable to decreases in construction loans of $33.2 million, commercial loans of $9.2 million, and consumer loans (primarily indirect auto) of $4.0 million, partially offset by increases in home equity loans of $10.8 million, residential real estate loans of $9.9 million, and commercial real estate loans of $1.9 million.

    Loans HFI at June 30, 2025 decreased by $29.3 million, or 1.1%, from March 31, 2025 and decreased by $20.1 million, or 0.8%, from December 31, 2024. Compared to the first quarter of 2025, the decline was primarily due to decreases in construction loans of $18.2 million, consumer loans (primarily indirect auto) of $8.7 million, commercial loans of $4.4 million, and commercial real estate loans of $4.4 million, partially offset by increases in residential real estate loans of $5.8 million and home equity loans of $2.2 million. Compared to December 31, 2024, the decrease was primarily attributable to decreases in construction loans of $45.9 million, commercial loans of $9.2 million, and consumer loans (primarily indirect auto) of $2.0 million, partially offset by increases in commercial real estate loans of $23.4 million, residential real estate loans of $17.9 million, and home equity loans of $8.1 million.

    Allowance for Credit Losses

    At June 30, 2025, the allowance for credit losses for loans HFI totaled $29.9 million compared to $29.7 million at March 31, 2025 and $29.3 million at December 31, 2024. Activity within the allowance is provided on Page 14. The slight increase in the allowance over March 31, 2025 and December 31, 2024 was primarily attributable to qualitative factor adjustments that were partially offset by lower loan balances. Net loan charge-offs for both the second quarter of 2025 and the first quarter of 2025 were comparable at nine basis points of average loans. At June 30, 2025, the allowance represented 1.13% of loans HFI compared to 1.12% at March 31, 2025, and 1.10% at December 31, 2024.

    Credit Quality

    Nonperforming assets (nonaccrual loans and other real estate) totaled $6.6 million at June 30, 2025 compared to $4.4 million at March 31, 2025 and $6.7 million at December 31, 2024. At June 30, 2025, nonperforming assets as a percentage of total assets was 0.15%, compared to 0.10% at March 31, 2025 and 0.15% at December 31, 2024. Nonaccrual loans totaled $6.4 million at June 30, 2025, a $2.2 million increase over March 31, 2025 and a $0.1 million increase over December 31, 2024 with the increase over the first quarter of 2025 primarily attributable to two home equity loans totaling $1.8 million. Classified loans totaled $28.6 million at June 30, 2025, a $9.4 million increase over March 31, 2025 and a $8.7 million increase over December 31, 2024. The increase over the prior periods was primarily due to the downgrade of four residential real estate loans totaling $4.2 million and two commercial real estate loans totaling $4.3 million.

    Deposits

    Average total deposits were $3.681 billion for the second quarter of 2025, an increase of $15.2 million, or 0.4%, over the first quarter of 2025 and an increase of $80.3 million, or 2.2%, over the fourth quarter of 2024.   Compared to the first quarter of 2025, the increase was attributable to higher core deposit balances (primarily noninterest bearing checking and money market), partially offset by a decline in public funds balances (primarily NOW accounts) due to the seasonal reduction in those balances. The increase over the fourth quarter of 2024 reflected strong growth in core deposit balances and a seasonal increase in public funds balances (primarily NOW) which are received/deposited by those clients starting in December and peak on average in the first quarter.

    At June 30, 2025, total deposits were $3.705 billion, a decrease of $79.0 million, or 2.1%, from March 31, 2025, and an increase of $32.9 million, or 0.9%, over December 31, 2024. The decrease from March 31, 2025 was primarily due to a seasonal decline in public funds balances, (primarily money market and noninterest bearing). The increase over December 31, 2024 reflected higher core deposit balances, primarily noninterest bearing accounts. Public funds totaled $596.6 million at June 30, 2025, $648.0 million at March 31, 2025, and $660.9 million at December 31, 2024.

    Liquidity

    We maintained an average net overnight funds (i.e., deposits with banks plus FED funds sold less FED funds purchased) sold position of $348.8 million in the second quarter of 2025 compared to $320.9 million in the first quarter of 2025 and $298.3 million in the fourth quarter of 2024. Compared to both prior periods, the increase reflected higher average deposits and lower average loans.

    At June 30, 2025, we had the ability to generate approximately $1.603 billion (excludes overnight funds position of $395 million) in additional liquidity through various sources including various federal funds purchased lines, Federal Home Loan Bank borrowings, the Federal Reserve Discount Window, and brokered deposits.

    We also view our investment portfolio as a liquidity source, as we have the option to pledge securities in our portfolio as collateral for borrowings or deposits and/or to sell selected securities in our portfolio. Our portfolio consists of debt issued by the U.S. Treasury, U.S. governmental agencies, municipal governments, and corporate entities. At June 30, 2025, the weighted-average maturity and duration of our portfolio were 2.66 years and 2.14 years, respectively, and the available-for-sale portfolio had a net unrealized after-tax loss of $13.4 million.

    Capital

    Shareowners’ equity was $526.4 million at June 30, 2025 compared to $512.6 million at March 31, 2025 and $495.3 million at December 31, 2024. For the first six months of 2025, shareowners’ equity was positively impacted by net income attributable to shareowners of $31.9 million, a net $5.5 million decrease in the accumulated other comprehensive loss, the issuance of common stock of $2.8 million, and stock compensation accretion of $0.9 million. The net favorable change in accumulated other comprehensive loss reflected a $6.4 million decrease in the investment securities loss that was partially offset by a $0.9 million decrease in the fair value of the interest rate swap related to subordinated debt. Shareowners’ equity was reduced by common stock dividends of $8.2 million ($0.48 per share) and net adjustments totaling $1.8 million related to transactions under our stock compensation plans.

    At June 30, 2025, our total risk-based capital ratio was 19.60% compared to 19.20% at March 31, 2025 and 18.64% at December 31, 2024. Our common equity tier 1 capital ratio was 16.81%, 16.08%, and 15.54%, respectively, on these dates. Our leverage ratio was 11.14%, 11.17%, and 11.05%, respectively, on these dates. At June 30, 2025, all our regulatory capital ratios exceeded the thresholds to be designated as “well-capitalized” under the Basel III capital standards. Further, our tangible common equity ratio (non-GAAP financial measure) was 10.09% at June 30, 2025 compared to 9.61% and 9.51% at March 31, 2025 and December 31, 2024, respectively. If the unrealized loss for held-to-maturity securities of $9.9 million (after-tax) was recognized in accumulated other comprehensive loss, our adjusted tangible capital ratio would be 9.86%.

    About Capital City Bank Group, Inc.

    Capital City Bank Group, Inc. (NASDAQ: CCBG) is one of the largest publicly traded financial holding companies headquartered in Florida and has approximately $4.4 billion in assets. We provide a full range of banking services, including traditional deposit and credit services, mortgage banking, asset management, trust, merchant services, bankcards, securities brokerage services, and financial advisory services, including the sale of life insurance, risk management and asset protection services. Our bank subsidiary, Capital City Bank, was founded in 1895 and now has 62 banking offices and 107 ATMs/ITMs in Florida, Georgia and Alabama. For more information about Capital City Bank Group, Inc., visit https://www.ccbg.com/.

    FORWARD-LOOKING STATEMENTS

    Forward-looking statements in this Press Release are based on current plans and expectations that are subject to uncertainties and risks, which could cause our future results to differ materially. The words “may,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “target,” “vision,” “goal,” and similar expressions are intended to identify forward-looking statements. The following factors, among others, could cause our actual results to differ: the effects of and changes in trade and monetary and fiscal policies and laws, including the interest rate policies of the Federal Reserve Board; inflation, interest rate, market and monetary fluctuations; local, regional, national, and international economic conditions and the impact they may have on us and our clients and our assessment of that impact; the costs and effects of legal and regulatory developments, the outcomes of legal proceedings or regulatory or other governmental inquiries, the results of regulatory examinations or reviews and the ability to obtain required regulatory approvals; the effect of changes in laws and regulations (including laws and regulations concerning taxes, banking, securities, and insurance) and their application with which we and our subsidiaries must comply; the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as other accounting standard setters; the accuracy of our financial statement estimates and assumptions; changes in the financial performance and/or condition of our borrowers; changes in the mix of loan geographies, sectors and types or the level of non-performing assets and charge-offs; changes in estimates of future credit loss reserve requirements based upon the periodic review thereof under relevant regulatory and accounting requirements; changes in our liquidity position; the timely development and acceptance of new products and services and perceived overall value of these products and services by users; changes in consumer spending, borrowing, and saving habits; greater than expected costs or difficulties related to the integration of new products and lines of business; technological changes; the costs and effects of cyber incidents or other failures, interruptions, or security breaches of our systems or those of our customers or third-party providers; acquisitions and integration of acquired businesses; impairment of our goodwill or other intangible assets; changes in the reliability of our vendors, internal control systems, or information systems; our ability to increase market share and control expenses; our ability to attract and retain qualified employees; changes in our organization, compensation, and benefit plans; the soundness of other financial institutions; volatility and disruption in national and international financial and commodity markets; changes in the competitive environment in our markets and among banking organizations and other financial service providers; government intervention in the U.S. financial system; the effects of natural disasters (including hurricanes), widespread health emergencies (including pandemics), military conflict, terrorism, civil unrest, climate change or other geopolitical events; our ability to declare and pay dividends; structural changes in the markets for origination, sale and servicing of residential mortgages; any inability to implement and maintain effective internal control over financial reporting and/or disclosure control; negative publicity and the impact on our reputation; and the limited trading activity and concentration of ownership of our common stock. Additional factors can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and our other filings with the SEC, which are available at the SEC’s internet site (https://www.sec.gov). Forward-looking statements in this Press Release speak only as of the date of the Press Release, and we assume no obligation to update forward-looking statements or the reasons why actual results could differ, except as may be required by law.

    For Information Contact:
    Jep Larkin
    Executive Vice President and Chief Financial Officer
    850.402.8450

    USE OF NON-GAAP FINANCIAL MEASURES
    Unaudited

    We present a tangible common equity ratio and a tangible book value per diluted share that removes the effect of goodwill and other intangibles resulting from merger and acquisition activity. We believe these measures are useful to investors because they allow investors to more easily compare our capital adequacy to other companies in the industry. Non-GAAP financial measures should not be considered alternatives to GAAP-basis financial statements and other bank holding companies may define or calculate these non-GAAP measures or similar measures differently.

    The GAAP to non-GAAP reconciliations are provided below.

    (Dollars in Thousands, except per share data) Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024
    Shareowners’ Equity (GAAP)   $ 526,423 $ 512,575 $ 495,317   476,499 $ 460,999
    Less: Goodwill and Other Intangibles (GAAP)     92,693   92,733   92,773   92,813   92,853
    Tangible Shareowners’ Equity (non-GAAP) A   433,730   419,842   402,544   383,686   368,146
    Total Assets (GAAP)     4,391,753   4,461,233   4,324,932   4,225,316   4,225,695
    Less: Goodwill and Other Intangibles (GAAP)     92,693   92,733   92,773   92,813   92,853
    Tangible Assets (non-GAAP) B $ 4,299,060 $ 4,368,500 $ 4,232,159   4,132,503 $ 4,132,842
    Tangible Common Equity Ratio (non-GAAP) A/B   10.09%   9.61%   9.51%   9.28%   8.91%
    Actual Diluted Shares Outstanding (GAAP) C   17,097,986   17,072,330   17,018,122   16,980,686   16,970,228
    Tangible Book Value per Diluted Share (non-GAAP) A/C $ 25.37 $ 24.59 $ 23.65   22.60 $ 21.69
     
    CAPITAL CITY BANK GROUP, INC.                      
    EARNINGS HIGHLIGHTS                      
    Unaudited                      
                           
        Three Months Ended   Six Months Ended  
    (Dollars in thousands, except per share data)   Jun 30, 2025   Mar 31, 2025   Jun 30, 2024   Jun 30, 2025   Jun 30, 2024  
    EARNINGS                      
    Net Income Attributable to Common Shareowners $ 15,044 $ 16,858 $ 14,150 $ 31,902 $ 26,707  
    Diluted Net Income Per Share $ 0.88 $ 0.99 $ 0.83 $ 1.87 $ 1.57  
    PERFORMANCE                      
    Return on Average Assets (annualized)   1.38 % 1.58 % 1.33 % 1.48 % 1.27 %
    Return on Average Equity (annualized)   11.44   13.32   12.23   12.36   11.66  
    Net Interest Margin   4.30   4.22   4.02   4.26   4.01  
    Noninterest Income as % of Operating Revenue   31.67   32.39   33.30   32.03   32.69  
    Efficiency Ratio   67.26 % 62.93 % 68.61 % 65.13 % 69.81 %
    CAPITAL ADEQUACY                      
    Tier 1 Capital   18.38 % 18.01 % 16.31 % 18.38 % 16.31 %
    Total Capital   19.60   19.20   17.50   19.60   17.50  
    Leverage   11.14   11.17   10.51   11.14   10.51  
    Common Equity Tier 1   16.81   16.08   14.44   16.81   14.44  
    Tangible Common Equity(1)   10.09   9.61   8.91   10.09   8.91  
    Equity to Assets   11.99 % 11.49 % 10.91 % 11.99 % 10.91 %
    ASSET QUALITY                      
    Allowance as % of Non-Performing Loans   463.01 % 692.10 % 529.79 % 463.01 % 529.79 %
    Allowance as a % of Loans HFI   1.13   1.12   1.09   1.13   1.09  
    Net Charge-Offs as % of Average Loans HFI   0.09   0.09   0.18   0.09   0.20  
    Nonperforming Assets as % of Loans HFI and OREO   0.25   0.17   0.23   0.25   0.23  
    Nonperforming Assets as % of Total Assets   0.15 % 0.10 % 0.15 % 0.15 % 0.15 %
    STOCK PERFORMANCE                      
    High $ 39.82 $ 38.27 $ 28.58 $ 39.82 $ 31.34  
    Low   32.38   33.00   25.45   32.38   25.45  
    Close $ 39.35 $ 35.96 $ 28.44 $ 39.35 $ 28.44  
    Average Daily Trading Volume   27,397   24,486   29,861   25,988   30,433  
                           
    (1)Tangible common equity ratio is a non-GAAP financial measure. For additional information, including a reconciliation to GAAP, refer to Page 10.        
     
    CAPITAL CITY BANK GROUP, INC.                    
    CONSOLIDATED STATEMENT OF FINANCIAL CONDITION            
    Unaudited                    
                         
      2025   2024
    (Dollars in thousands) Second Quarter   First Quarter   Fourth Quarter   Third Quarter   Second Quarter
    ASSETS                    
    Cash and Due From Banks $ 78,485   $ 78,521   $ 70,543   $ 83,431   $ 75,304  
    Funds Sold and Interest Bearing Deposits   394,917     446,042     321,311     261,779     272,675  
    Total Cash and Cash Equivalents   473,402     524,563     391,854     345,210     347,979  
                         
    Investment Securities Available for Sale   533,457     461,224     403,345     336,187     310,941  
    Investment Securities Held to Maturity   462,599     517,176     567,155     561,480     582,984  
    Other Equity Securities   3,242     2,315     2,399     6,976     2,537  
    Total Investment Securities   999,298     980,715     972,899     904,643     896,462  
                         
    Loans Held for Sale (“HFS”):   19,181     21,441     28,672     31,251     24,022  
                         
    Loans Held for Investment (“HFI”):                    
    Commercial, Financial, & Agricultural   180,008     184,393     189,208     194,625     204,990  
    Real Estate – Construction   174,115     192,282     219,994     218,899     200,754  
    Real Estate – Commercial   802,504     806,942     779,095     819,955     823,122  
    Real Estate – Residential   1,046,368     1,040,594     1,028,498     1,023,485     1,012,541  
    Real Estate – Home Equity   228,201     225,987     220,064     210,988     211,126  
    Consumer   197,483     206,191     199,479     213,305     234,212  
    Other Loans   1,552     3,227     14,006     461     2,286  
    Overdrafts   1,259     1,154     1,206     1,378     1,192  
    Total Loans Held for Investment   2,631,490     2,660,770     2,651,550     2,683,096     2,690,223  
    Allowance for Credit Losses   (29,862 )   (29,734 )   (29,251 )   (29,836 )   (29,219 )
    Loans Held for Investment, Net   2,601,628     2,631,036     2,622,299     2,653,260     2,661,004  
                         
    Premises and Equipment, Net   79,906     80,043     81,952     81,876     81,414  
    Goodwill and Other Intangibles   92,693     92,733     92,773     92,813     92,853  
    Other Real Estate Owned   132     132     367     650     650  
    Other Assets   125,513     130,570     134,116     115,613     121,311  
    Total Other Assets   298,244     303,478     309,208     290,952     296,228  
    Total Assets $ 4,391,753   $ 4,461,233   $ 4,324,932   $ 4,225,316   $ 4,225,695  
    LIABILITIES                    
    Deposits:                    
    Noninterest Bearing Deposits $ 1,332,080   $ 1,363,739   $ 1,306,254   $ 1,330,715   $ 1,343,606  
    NOW Accounts   1,284,137     1,292,654     1,285,281     1,174,585     1,177,180  
    Money Market Accounts   408,666     445,999     404,396     401,272     413,594  
    Savings Accounts   504,331     511,265     506,766     507,604     514,560  
    Certificates of Deposit   175,639     170,233     169,280     164,901     159,624  
    Total Deposits   3,704,853     3,783,890     3,671,977     3,579,077     3,608,564  
                         
    Repurchase Agreements   21,800     22,799     26,240     29,339     22,463  
    Other Short-Term Borrowings   12,741     14,401     2,064     7,929     3,307  
    Subordinated Notes Payable   42,582     52,887     52,887     52,887     52,887  
    Other Long-Term Borrowings   680     794     794     794     1,009  
    Other Liabilities   82,674     73,887     75,653     71,974     69,987  
    Total Liabilities   3,865,330     3,948,658     3,829,615     3,742,000     3,758,217  
                         
    Temporary Equity               6,817     6,479  
    SHAREOWNERS’ EQUITY                    
    Common Stock   171     171     170     169     169  
    Additional Paid-In Capital   39,527     38,576     37,684     36,070     35,547  
    Retained Earnings   487,665     476,715     463,949     454,342     445,959  
    Accumulated Other Comprehensive Loss, Net of Tax   (940 )   (2,887 )   (6,486 )   (14,082 )   (20,676 )
    Total Shareowners’ Equity   526,423     512,575     495,317     476,499     460,999  
    Total Liabilities, Temporary Equity and Shareowners’ Equity $ 4,391,753   $ 4,461,233   $ 4,324,932   $ 4,225,316   $ 4,225,695  
    OTHER BALANCE SHEET DATA                    
    Earning Assets $ 4,044,886   $ 4,108,969   $ 3,974,431   $ 3,880,769   $ 3,883,382  
    Interest Bearing Liabilities   2,450,576     2,511,032     2,447,708     2,339,311     2,344,624  
    Book Value Per Diluted Share $ 30.79   $ 30.02   $ 29.11   $ 28.06   $ 27.17  
    Tangible Book Value Per Diluted Share(1)   25.37     24.59     23.65     22.60     21.69  
    Actual Basic Shares Outstanding   17,066     17,055     16,975     16,944     16,942  
    Actual Diluted Shares Outstanding   17,098     17,072     17,018     16,981     16,970  
    (1)Tangible book value per diluted share is a non-GAAP financial measure. For additional information, including a reconciliation to GAAP, refer to Page 10.
     
    CAPITAL CITY BANK GROUP, INC.                            
    CONSOLIDATED STATEMENT OF OPERATIONS                      
    Unaudited                            
                                 
        2025   2024   Six Months Ended June 30,
    (Dollars in thousands, except per share data)   Second Quarter   First Quarter   Fourth Quarter   Third Quarter   Second Quarter   2025   2024
    INTEREST INCOME                            
    Loans, including Fees $ 40,872 $ 40,478 $ 41,453   $ 41,659 $ 41,138 $ 81,350 $ 81,821
    Investment Securities   6,678   5,808   4,694     4,155   4,004   12,486   8,248
    Federal Funds Sold and Interest Bearing Deposits   3,909   3,496   3,596     3,514   3,624   7,405   5,517
    Total Interest Income   51,459   49,782   49,743     49,328   48,766   101,241   95,586
    INTEREST EXPENSE                            
    Deposits   7,405   7,383   7,766     8,223   8,579   14,788   16,173
    Repurchase Agreements   156   164   199     221   217   320   418
    Other Short-Term Borrowings   179   117   83     52   68   296   107
    Subordinated Notes Payable   530   560   581     610   630   1,090   1,258
    Other Long-Term Borrowings   5   11   11     11   3   16   6
    Total Interest Expense   8,275   8,235   8,640     9,117   9,497   16,510   17,962
    Net Interest Income   43,184   41,547   41,103     40,211   39,269   84,731   77,624
    Provision for Credit Losses   620   768   701     1,206   1,204   1,388   2,124
    Net Interest Income after Provision for Credit Losses   42,564   40,779   40,402     39,005   38,065   83,343   75,500
    NONINTEREST INCOME                            
    Deposit Fees   5,320   5,061   5,207     5,512   5,377   10,381   10,627
    Bank Card Fees   3,774   3,514   3,697     3,624   3,766   7,288   7,386
    Wealth Management Fees   5,206   5,763   5,222     4,770   4,439   10,969   9,121
    Mortgage Banking Revenues   4,190   3,820   3,118     3,966   4,381   8,010   7,259
    Other   1,524   1,749   1,516     1,641   1,643   3,273   3,310
    Total Noninterest Income   20,014   19,907   18,760     19,513   19,606   39,921   37,703
    NONINTEREST EXPENSE                            
    Compensation   26,490   26,248   26,108     25,800   24,406   52,738   48,813
    Occupancy, Net   7,071   6,793   6,893     7,098   6,997   13,864   13,991
    Other   8,977   5,660   8,781     10,023   9,038   14,637   17,808
    Total Noninterest Expense   42,538   38,701   41,782     42,921   40,441   81,239   80,612
    OPERATING PROFIT   20,040   21,985   17,380     15,597   17,230   42,025   32,591
    Income Tax Expense   4,996   5,127   4,219     2,980   3,189   10,123   6,725
    Net Income   15,044   16,858   13,161     12,617   14,041   31,902   25,866
    Pre-Tax (Income) Loss Attributable to Noncontrolling Interest       (71 )   501   109     841
    NET INCOME ATTRIBUTABLE TO
    COMMON SHAREOWNERS
    $ 15,044 $ 16,858 $ 13,090   $ 13,118 $ 14,150 $ 31,902 $ 26,707
    PER COMMON SHARE                            
    Basic Net Income $ 0.88 $ 0.99 $ 0.77   $ 0.77 $ 0.84 $ 1.87 $ 1.58
    Diluted Net Income   0.88   0.99   0.77     0.77   0.83   1.87   1.57
    Cash Dividend $ 0.24 $ 0.24 $ 0.23   $ 0.23 $ 0.21 $ 0.48 $ 0.42
    AVERAGE SHARES                            
    Basic   17,056   17,027   16,946     16,943   16,931   17,042   16,941
    Diluted   17,088   17,044   16,990     16,979   16,960   17,067   16,964
     
    CAPITAL CITY BANK GROUP, INC.                            
    ALLOWANCE FOR CREDIT LOSSES (“ACL”)                        
    AND CREDIT QUALITY                            
    Unaudited                            
                                 
        2025     2024     Six Months Ended June 30,
    (Dollars in thousands, except per share data)   Second Quarter   First Quarter   Fourth Quarter   Third Quarter   Second Quarter   2025     2024  
    ACL – HELD FOR INVESTMENT LOANS                            
    Balance at Beginning of Period $ 29,734   $ 29,251   $ 29,836   $ 29,219   $ 29,329   $ 29,251   $ 29,941  
    Transfer from Other (Assets) Liabilities                           (50 )
    Provision for Credit Losses   718     1,083     1,085     1,879     1,129     1,801     2,061  
    Net Charge-Offs (Recoveries)   590     600     1,670     1,262     1,239     1,190     2,733  
    Balance at End of Period $ 29,862   $ 29,734   $ 29,251   $ 29,836   $ 29,219   $ 29,862   $ 29,219  
    As a % of Loans HFI   1.13 %   1.12 %   1.10 %   1.11 %   1.09 %   1.13 %   1.09 %
    As a % of Nonperforming Loans   463.01 %   692.10 %   464.14 %   452.64 %   529.79 %   463.01 %   529.79 %
    ACL – UNFUNDED COMMITMENTS                            
    Balance at Beginning of Period   1,832   $ 2,155   $ 2,522   $ 3,139   $ 3,121   $ 2,155   $ 3,191  
    Provision for Credit Losses   (94 )   (323 )   (367 )   (617 )   18     (417 )   (52 )
    Balance at End of Period(1)   1,738     1,832     2,155     2,522     3,139     1,738     3,139  
    ACL – DEBT SECURITIES                            
    Provision for Credit Losses $ (4 ) $ 8   $ (17 ) $ (56 ) $ 57   $ 4   $ 115  
    CHARGE-OFFS                            
    Commercial, Financial and Agricultural $ 74   $ 168   $ 499   $ 331   $ 400   $ 242   $ 682  
    Real Estate – Construction           47                  
    Real Estate – Commercial               3              
    Real Estate – Residential   49     8     44             57     17  
    Real Estate – Home Equity   24         33     23         24     76  
    Consumer   914     865     1,307     1,315     1,061     1,779     2,611  
    Overdrafts   437     570     574     611     571     1,007     1,209  
    Total Charge-Offs $ 1,498   $ 1,611   $ 2,504   $ 2,283   $ 2,032   $ 3,109   $ 4,595  
    RECOVERIES                            
    Commercial, Financial and Agricultural $ 117   $ 75   $ 103   $ 176   $ 59   $ 192   $ 100  
    Real Estate – Construction           3                  
    Real Estate – Commercial   6     3     33     5     19     9     223  
    Real Estate – Residential   65     119     28     88     23     184     60  
    Real Estate – Home Equity   42     9     17     59     37     51     61  
    Consumer   456     481     352     405     313     937     723  
    Overdrafts   222     324     298     288     342     546     695  
    Total Recoveries $ 908   $ 1,011   $ 834   $ 1,021   $ 793   $ 1,919   $ 1,862  
    NET CHARGE-OFFS (RECOVERIES) $ 590   $ 600   $ 1,670   $ 1,262   $ 1,239   $ 1,190   $ 2,733  
    Net Charge-Offs as a % of Average Loans HFI(2)   0.09 %   0.09 %   0.25 %   0.19 %   0.18 %   0.09 %   0.20 %
    CREDIT QUALITY                            
    Nonaccruing Loans $ 6,449   $ 4,296   $ 6,302   $ 6,592   $ 5,515          
    Other Real Estate Owned   132     132     367     650     650          
    Total Nonperforming Assets (“NPAs”) $ 6,581   $ 4,428   $ 6,669   $ 7,242   $ 6,165          
                                 
    Past Due Loans 30-89 Days $ 4,523   $ 3,735   $ 4,311   $ 9,388   $ 5,672          
    Classified Loans   28,623     19,194     19,896     25,501     25,566          
                                 
    Nonperforming Loans as a % of Loans HFI   0.25 %   0.16 %   0.24 %   0.25 %   0.21 %        
    NPAs as a % of Loans HFI and Other Real Estate   0.25 %   0.17 %   0.25 %   0.27 %   0.23 %        
    NPAs as a % of Total Assets   0.15 %   0.10 %   0.15 %   0.17 %   0.15 %        
                                 
    (1)Recorded in other liabilities                            
    (2)Annualized                            
     
    CAPITAL CITY BANK GROUP, INC.                                                                                        
    AVERAGE BALANCE AND INTEREST RATES                                                                                        
    Unaudited                                                                                                    
                                                                                                         
        Second Quarter 2025     First Quarter 2025     Fourth Quarter 2024     Third Quarter 2024     Second Quarter 2024       June 2025 YTD     June 2024 YTD  
    (Dollars in thousands)   Average
    Balance
      Interest   Average
    Rate
        Average
    Balance
      Interest   Average
    Rate
        Average
    Balance
      Interest   Average
    Rate
        Average
    Balance
      Interest   Average
    Rate
        Average
    Balance
      Interest   Average
    Rate
          Average
    Balance
      Interest   Average
    Rate
        Average
    Balance
      Interest   Average
    Rate
     
    ASSETS:                                                                                                    
    Loans Held for Sale $ 22,668   $ 475   8.40 % $ 24,726   $ 490   8.04 % $ 31,047   $ 976   7.89 % $ 24,570     720   7.49 % $ 26,281   $ 517   5.26 %   $ 23,692   $ 965   8.21 % $ 26,797   $ 1,080   5.62 %
    Loans Held for Investment(1)   2,652,572     40,436   6.11     2,665,910     40,029   6.09     2,677,396     40,521   6.07     2,693,533     40,985   6.09     2,726,748     40,683   6.03       2,659,204     80,465   6.10     2,727,688     80,879   5.99  
                                                                                                         
    Investment Securities                                                                                                    
    Taxable Investment Securities   1,006,514     6,666   2.65     981,485     5,802   2.38     914,353     4,688   2.04     907,610     4,148   1.82     918,989     3,998   1.74       994,068     12,468   2.52     935,658     8,237   1.76  
    Tax-Exempt Investment Securities(1)   1,467     17   4.50     845     9   4.32     849     9   4.31     846     10   4.33     843     9   4.36       1,158     26   4.43     850     18   4.35  
                                                                                                         
    Total Investment Securities   1,007,981     6,683   2.65     982,330     5,811   2.38     915,202     4,697   2.04     908,456     4,158   1.82     919,832     4,007   1.74       995,226     12,494   2.52     936,508     8,255   1.76  
                                                                                                         
    Federal Funds Sold and Interest Bearing Deposits   348,787     3,909   4.49     320,948     3,496   4.42     298,255     3,596   4.80     256,855     3,514   5.44     262,419     3,624   5.56       334,944     7,405   4.46     201,454     5,517   5.51  
                                                                                                         
    Total Earning Assets   4,032,008   $ 51,503   5.12 %   3,993,914   $ 49,826   5.06 %   3,921,900   $ 49,790   5.05 %   3,883,414   $ 49,377   5.06 %   3,935,280   $ 48,831   4.99 %     4,013,066   $ 101,329   5.09 %   3,892,447   $ 95,731   4.94 %
                                                                                                         
    Cash and Due From Banks   65,761               73,467               73,992               70,994               74,803                 69,593               75,283            
    Allowance for Credit Losses   (30,492 )             (30,008 )             (30,107 )             (29,905 )             (29,564 )               (30,251 )             (29,797 )          
    Other Assets   302,984               297,660               293,884               291,359               291,669                 300,336               293,473            
                                                                                                         
    Total Assets $ 4,370,261             $ 4,335,033             $ 4,259,669             $ 4,215,862             $ 4,272,188               $ 4,352,744             $ 4,231,406            
                                                                                                         
    LIABILITIES:                                                                                                    
    Noninterest Bearing Deposits $ 1,342,304             $ 1,317,425             $ 1,323,556             $ 1,332,305             $ 1,346,546               $ 1,329,933             $ 1,345,367            
    NOW Accounts   1,225,697   $ 3,750   1.23 %   1,249,955   $ 3,854   1.25 %   1,182,073   $ 3,826   1.29 %   1,145,544   $ 4,087   1.42 %   1,207,643   $ 4,425   1.47 %     1,237,759   $ 7,604   1.24 %   1,204,337   $ 8,922   1.49 %
    Money Market Accounts   431,774     2,340   2.17     420,059     2,187   2.11     422,615     2,526   2.38     418,625     2,694   2.56     407,387     2,752   2.72       425,949     4,527   2.14     380,489     4,737   2.50  
    Savings Accounts   507,950     174   0.14     507,676     176   0.14     504,859     179   0.14     512,098     180   0.14     519,374     176   0.14       507,813     350   0.14     529,374     364   0.14  
    Time Deposits   172,982     1,141   2.65     170,367     1,166   2.78     167,321     1,235   2.94     163,462     1,262   3.07     160,078     1,226   3.08       171,682     2,307   2.71     149,203     2,150   2.90  
    Total Interest Bearing Deposits   2,338,403     7,405   1.27     2,348,057     7,383   1.28     2,276,868     7,766   1.36     2,239,729     8,223   1.46     2,294,482     8,579   1.50       2,343,203     14,788   1.27     2,263,403     16,173   1.44  
    Total Deposits   3,680,707     7,405   0.81     3,665,482     7,383   0.82     3,600,424     7,766   0.86     3,572,034     8,223   0.92     3,641,028     8,579   0.95       3,673,136     14,788   0.81     3,608,770     16,173   0.90  
    Repurchase Agreements   22,557     156   2.78     29,821     164   2.23     28,018     199   2.82     27,126     221   3.24     26,999     217   3.24       26,169     320   2.47     26,362     418   3.19  
    Other Short-Term Borrowings   10,503     179   6.82     7,437     117   6.39     6,510     83   5.06     2,673     52   7.63     6,592     68   4.16       8,978     296   6.64     5,176     107   4.16  
    Subordinated Notes Payable   51,981     530   4.03     52,887     560   4.23     52,887     581   4.30     52,887     610   4.52     52,887     630   4.71       52,432     1,090   4.13     52,887     1,258   4.70  
    Other Long-Term Borrowings   792     5   2.41     794     11   5.68     794     11   5.57     795     11   5.55     258     3   4.31       793     16   4.04     270     6   4.56  
    Total Interest Bearing Liabilities   2,424,236   $ 8,275   1.37 %   2,438,996   $ 8,235   1.37 %   2,365,077   $ 8,640   1.45 %   2,323,210   $ 9,117   1.56 %   2,381,218   $ 9,497   1.60 %     2,431,575   $ 16,510   1.37 %   2,348,098   $ 17,962   1.54 %
                                                                                                         
    Other Liabilities   76,138               65,211               73,130               73,767               72,634                 70,705               70,464            
                                                                                                         
    Total Liabilities   3,842,678               3,821,632               3,761,763               3,729,282               3,800,398                 3,832,213               3,763,929            
    Temporary Equity                               6,763               6,443               6,493                               6,821            
                                                                                                         
    SHAREOWNERS’ EQUITY:   527,583               513,401               491,143               480,137               465,297                 520,531               460,656            
                                                                                                         
    Total Liabilities, Temporary Equity and Shareowners’ Equity $ 4,370,261             $ 4,335,033             $ 4,259,669             $ 4,215,862             $ 4,272,188               $ 4,352,744             $ 4,231,406            
                                                                                                         
    Interest Rate Spread     $ 43,228   3.75 %     $ 41,591   3.69 %     $ 41,150   3.59 %     $ 40,260   3.49 %     $ 39,334   3.38 %       $ 84,819   3.72 %     $ 77,769   3.40 %
                                                                                                         
    Interest Income and Rate Earned(1)       51,503   5.12         49,826   5.06         49,790   5.05         49,377   5.06         48,831   4.99           101,329   5.09         95,731   4.94  
    Interest Expense and Rate Paid(2)       8,275   0.82         8,235   0.84         8,640   0.88         9,117   0.93         9,497   0.97           16,510   0.83         17,962   0.93  
                                                                                                         
    Net Interest Margin     $ 43,228   4.30 %     $ 41,591   4.22 %     $ 41,150   4.17 %     $ 40,260   4.12 %     $ 39,334   4.02 %       $ 84,819   4.26 %     $ 77,769   4.01 %
                                                                                                         
    (1)Interest and average rates are calculated on a tax-equivalent basis using a 21% Federal tax rate.                                                                  
    (2)Rate calculated based on average earning assets.                                                                       

    The MIL Network

  • Trump’s Golden Dome looks for alternatives to Musk’s SpaceX

    Source: Government of India

    Source: Government of India (4)

    The Trump administration is expanding its search for partners to build the Golden Dome missile defense system, courting Amazon.com’s Project Kuiper and big defense contractors as tensions with Elon Musk threaten SpaceX’s dominance in the program, according to three sources familiar with the matter.

    The shift marks a strategic pivot away from reliance on Musk’s SpaceX, whose Starlink and Starshield satellite networks have become central to U.S. military communications.

    It comes amid a deteriorating relationship between Trump and Musk, which culminated in a public falling-out on June 5. Even before the spat, officials at the Pentagon and White House had begun exploring alternatives to SpaceX, wary of over-reliance on a single partner for huge portions of the ambitious, $175 billion space-based defense shield, two of the sources said.

    Musk and SpaceX did not respond to requests for comment. After Reuters reported initially that SpaceX was a frontrunner to build parts of Golden Dome, Musk said on X that the company had “not tried to bid for any contract in this regard. Our strong preference would be to stay focused on taking humanity to Mars.”

    Due to its size, track record of launching more than 9,000 of its own Starlink satellites, and experience in government procurement, SpaceX still has the inside track to assist with major portions of the Golden Dome, especially launch contracts, sources say.

    Project Kuiper, which has launched just 78 of a planned constellation of 3,000 low-earth orbit satellites, has been approached by the Pentagon to join the effort, signaling the administration’s openness to integrating commercial tech firms into national defense infrastructure and going beyond traditional defense players.

    Jeff Bezos, Amazon’s executive chairman, told Reuters in January that Kuiper would be “primarily commercial,” but acknowledged “there will be defense uses for these [low-earth orbit] constellations, no doubt.”

    A spokesperson for Project Kuiper declined to comment for this story. The Pentagon declined to comment. The White House did not respond to requests for comment.

    Golden Dome’s ambitions mirror those of Israel’s Iron Dome – a homeland missile defense shield – but a larger, more complex layered defense system requires a vast network of orbiting satellites covering more territory.

    In the search for more vendors for the satellite layers of Golden Dome, “Kuiper is a big one,” a U.S. official said.

    While SpaceX remains a frontrunner due to its unmatched launch capabilities, its share of the program could shrink, two of the people said. Officials have reached out to new entrants like rocket companies Stoke Space and Rocket Lab RKLB.O are gaining traction and will be able to bid on individual launches as the program matures, according to the U.S. official.

    Later in the development of Golden Dome “each individual launch is going to get bid, and we have to actually give bids to other people,” besides SpaceX, the official said.

    NEED FOR SATELLITES

    There is an urgent need for more satellite production. Last year Congress gave Space Force a $13 billion mandate – up from $900 million – to buy satellite-based communication services in what was widely seen as one of many efforts to stimulate private sector satellite production.

    Amazon’s Project Kuiper, a $10 billion initiative led by former Starlink managers dismissed by Musk for slow progress, Reuters has reported, has lagged behind SpaceX in deployment. But its potential defense applications – such as communications that could aid missile tracking – have drawn renewed interest as the administration prepares to allocate the first $25 billion tranche of funding authorized under Trump’s sweeping tax and spending bill.

    Traditional defense giants Northrop Grumman, Lockheed Martin, and L3Harris are also in talks to support Golden Dome. L3Harris CFO Kenneth Bedingfield told Reuters in an interview the company has seen a surge in interest in its missile warning and tracking technologies, which are expected to play a key role in the system.

    Northrop, meanwhile, is pursuing several efforts including a space-based interceptor, a component that would enable missile strikes from orbit, Robert Flemming, the head of the company’s space business, told Reuters in an interview.

    “Lockheed Martin is ready to support Golden Dome for America as a proven mission partner,” Robert Lightfoot, president of Lockheed Martin Space, said in a statement.

    Golden Dome’s initial outreach this spring invited smaller, newer Silicon Valley firms seen as nimbler, more sophisticated and potentially less expensive alternatives to the big defense firms to the table – but that was before the Musk-Trump feud upended that calculus.

    Several with close ties to Trump aside from SpaceX, including Palantir and Anduril – were considered early frontrunners to win big pieces of the $175 billion project.

    But the Musk-Trump feud has reshaped the competitive landscape. Musk recently launched the “America Party,” a tech-centric, centrist political movement aimed at defeating Republicans who backed Trump’s tax-and-spend agenda.

    RAPID TIMEFRAME

    Trump launched the Golden Dome initiative just a week into his second term, pushing for rapid deployment. Space Force General Michael Guetlein, confirmed by the Senate on July 17, is set to lead the program with sweeping authority.

    Under a previously unreported directive from Defense Secretary Pete Hegseth, Guetlein has 30 days from confirmation to build a team, 60 days to deliver an initial system design, and 120 days to present a full implementation plan, including satellite and ground station details, two people briefed on the memo said.

    The inclusion of commercial platforms like Kuiper raises security concerns. Its satellites would need to be hardened against cyberattacks and electronic warfare, a challenge that has plagued even SpaceX’s Starlink network. In May 2024, Elon Musk said SpaceX was spending “significant resources combating Russian jamming efforts. This is a tough problem.”

    Beyond the technical and political challenges, Golden Dome could reshape global security dynamics. A fully operational space-based missile shield may prompt adversaries to develop new offensive capabilities or accelerate the militarization of space.

    (Reuters)

  • MIL-OSI United Kingdom: Check your business rates agent’s name

    Source: United Kingdom – Government Statements

    News story

    Check your business rates agent’s name

    Make sure your business rates agent’s name in our system matches your contract.

    If you want to use an agent to manage your business rates, you need to appoint them in our Check and Challenge service. 

    But if the agent’s name in our service does not match the name on your contract, you should be cautious. You should tell us by contacting agentstandards@voa.gov.uk.  

    You can also find out how long an agent has been using their current business name. You can get information about a company for free

    Some rogue agents may change their name often. 

    Our  VOA agent standards set out clear expectations for agents regarding:  

    • their behaviour   

    • their professional practice   

    • the service they provide to their customers   

    We take breaches of our agent standards very seriously. We will always take action if we substantiate a breach of the standards.  

    You should be cautious of any agent who:   

    • tries to pressure you to make a decision or sign a contract   

    • says they are acting on behalf of the VOA or forwards emails they claim are from the VOA   

    • demands large sums of money up front   

    • makes claims about ‘unclaimed credits’ or similar   

    Remember – you don’t have to use an agent to manage your business rates.   

    You can challenge your rateable value through our online service. This service is free to use.   

    If you want an agent to manage your business rates, use our checklist to choose an agent. Don’t let an agent choose you.  

    Using an agent who is a member of a professional body may provide extra reassurance as they will be subject to that body’s rules and regulations. The Institute of Revenues, Rating, Valuation,Royal Institution of Chartered Surveyors and Rating Surveyors’ Association have published joint standards that their members should follow. 

    We also have guidance on staying safe from scammers.   

    We collect evidence of poor agent behaviour and practices in the course of our work. This evidence allows us to proactively address issues or concerns.   

    If you are concerned about poor behaviour by agents, send any evidence to agentstandards@voa.gov.uk

    We cannot advise you on contractual issues you may have with any agent. You should contact the Citizens Advice Consumer Service. They have a helpline you can call on 0808 223 1133, Monday to Friday, 9am to 5pm. 

    If you think a business has broken the law or acted unfairly, you can also report them to Trading Standards via Citizens Advice

    If you believe you are a victim of fraud, you can make a report to Action Fraud.

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Birmingham City Council: Lead Commissioner appointment letter (22 July 2025)

    Source: United Kingdom – Executive Government & Departments

    Correspondence

    Birmingham City Council: Lead Commissioner appointment letter (22 July 2025)

    Appointment letter of Tony McArdle OBE as Lead Commissioner at Birmingham City Council.

    Applies to England

    Documents

    Details

    Copy of the letter confirming Tony McArdle’s appointment as Lead Commissioner at Birmingham City Council, following the retirement of Max Caller CBE.

    Updates to this page

    Published 22 July 2025

    Sign up for emails or print this page

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Increased funding for entrepreneurial education

    Source: Scottish Government

    Up to £1.2 million to engage the next generation in business creation.

    Funding to inspire young people to set up their own business has been increased by more than a third.

    The Entrepreneurial Education Fund 2025-26 will make up to £1.2 million available for courses and projects that will encourage more young people, from a wide range of backgrounds, to choose business ownership as a career path.

    Last year’s Fund supported programmes that embedded entrepreneurial education in Scotland’s classrooms right through school from P1 to S6.

    The scope of this year’s fund has been expanded further to encourage more applications for vocational programmes equivalent to SCQF Levels 7 and 8.

    Deputy First Minister Kate Forbes said:

    “Fostering and supporting entrepreneurial talent is vital for ensuring a growing, thriving economy and the Scottish Government continues to invest in expanding the pipeline of support available to help this and the next generation of business founders to succeed.

    “Entrepreneurial education helps build the mindset, skills and attitudes needed to succeed. It also, critically, increases participation from an early age, breaking down barriers to people considering entrepreneurship as a career choice.

    “Last year’s Fund was run competitively for the first time, resulting in a diverse set of programmes to inspire young people across all school ages. With increased funding and further expansion to the scheme this year we are putting in place strong foundations to embed an entrepreneurial mindset at a crucial time.”

    Chief Entrepreneur Ana Stewart said:

    “Scotland’s future economy will be built by the bold ideas and creative minds we nurture today. This new round of the Entrepreneurial Education Fund will help to further embed innovation and ambition into entrepreneurial learning and teaching programmes. Importantly, this competitive fund will encourage innovation and impact by offering support to new providers in the field, as well as the more established organisations.

    “By investing in the next generation of potential founders, we are shaping a culture where entrepreneurship is accessible, inclusive, and a natural path for anyone to turn an idea into a business.”

    Daydream Believers received £146,200 from the Scottish Government’s Entrepreneurial Education Fund in 2024-25 to develop the Dreamers and Doers Playlist, a 120-hour learning programme delivered in schools across the country.

    Managing Director of Daydream Believers Helena Good MBE said:

    “Funding from the Scottish Government allowed us to take Creative Thinking to the next level, creating a resource that’s bold, joyful, and built to last. It’s laid the foundations for a lasting legacy, one we’re excited to build on as we grow, collaborate, and continue re-imagining what learning can be.”

    Background

    The Entrepreneurial Education Pathways Fund is open for applications until 20 August 2025. Grants of up to £250,000 are available to public and private sector organisations to deliver courses and projects

    Daydream Believers – Daydream Believers

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Water quality in Scotland

    Source: Scottish Government

    Letter to Secretary of State for Environment, Food and Rural Affairs, Steve Reed.

    Climate Action Secretary Gillian Martin has written to Steve Reed calling for a retraction of comments regarding the quality of water in Scotland.

    The full text of the letter: Water quality in Scotland: Letter to Secretary of State for Environment, Food and Rural Affairs

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Wednesfield junior parkrun to celebrate 10th anniversary

    Source: City of Wolverhampton

    Established in 2015 by Liz Lister and Martha Cummings, both of whom worked for the City of Wolverhampton Council and were members of Wolves and Bilston Athletics Club, it welcomes scores of children and young people to Wednesfield’s King George V Playing Fields every Sunday morning.

    The Wednesfield junior parkrun gives 4 to 14 year olds the chance to run, jog or walk around a 2km circuit, with parents invited to join in if they wish.

    It takes place thanks to the efforts of volunteers who set up, manage and marshal the route, supporting the participants around the course until everyone has finished.

    Martha said: “We cannot quite believe it has been 10 years since turning an idea and a love of sports into an activity enjoyed and supported by so many – co-director Rob Carrington, our volunteers, families and local community, councillors in Wednesfield North and South and the council have all played a key role in making this happen.

    “The event is solely managed and run entirely by our amazing volunteers who come out in all weathers to make sure the event goes ahead safely and we’d like to say a huge thank you to everyone who helps make this wonderful event happen, week in, week out.”

    The council has played a pivotal role in enabling the event’s continued success, providing start up funding and access to facilities including the park grounds, car park and changing rooms.

    The Mayor’s Office has provided donations for water bottles, gloves and hats, and local councillors have backed the event with donations through their ward funds. Additionally, numerous staff and councillors have contributed their time as volunteers over the last decade.

    Councillor Obaida Ahmed, Cabinet Member for Health, Wellbeing and Community, said: “The Wednesfield junior parkrun is a fantastic way for children and young people to get exercise, enjoy some fresh air and make new friends.

    “It is well loved by children and parents alike and it’s wonderful that it will shortly be celebrating this very significant milestone.”

    The 10th birthday celebration will take place on Sunday 10 August, and all are welcome. To mark the occasion, every participant will receive a commemorative medal, goodie bag and treats. Please meet by the changing rooms by 9am.

    For more information, please visit Facebook or Wednesfield junior parkrun.

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Environment Agency rescue endangered crayfish from drought

    Source: United Kingdom – Executive Government & Departments 2

    Press release

    Environment Agency rescue endangered crayfish from drought

    A member of the public reported crayfish in distress as a riverbed dried out. The Environment Agency rescued 32 adults, including 21 females carrying eggs.

    Environment Agency

    The Environment Agency’s fisheries team has carried out an emergency rescue of a previously unknown population of critically endangered native white clawed crayfish at Burley in Wharfedale.

    It followed a report from a member of the public about crayfish in distress in the watercourse, which was very low due to ongoing drought conditions in Yorkshire.

    The team arrived to find some shallow pools with stretches dry riverbed in between them. Unfortunately, several crayfish had already died, but the team successfully rescued 32 adults, including 21 females carrying eggs (knows as ‘berried’ females).

    White-clawed crayfish are the UK’s only native, freshwater crayfish. They play a vital role in keeping our waterways clean and as a source of food for other native species.

    Environment Agency

    Critically Endangered

    The species used to be common across Yorkshire but are now critically endangered, largely due to being out competed by the larger, more aggressive American signal crayfish.

    The crayfish have been moved to the Environment Agency’s licensed quarantine facility hosted by York Gate Gardens near Leeds, until they pass a health check and can be returned to further support native crayfish conservation work in Yorkshire.

    Claire Barrow, the Environment Agency’s drought lead in Yorkshire, said:

    The finding of a previously unknown population of the endangered white clawed crayfish is great news, despite the challenging drought conditions.

    The Wharfe catchment unfortunately has long established and extensive populations of the invasive signal crayfish, which puts the native species at risk by out competing them and spreading disease.

    This year saw the driest spring since 1893, and Yorkshire is currently in drought. Periods of dry weather and low rivers can have serious consequences for the environment and wildlife and we’d urge people to report fish and wildlife in distress so we can take action.

    The Environment Agency’s Incident Hotline can be contacted on 0800 807060.

    Updates to this page

    Published 22 July 2025

    MIL OSI United Kingdom

  • MIL-OSI Russia: Restoration of white-stone decor of the Church of the Life-Giving Trinity in Kozhevniki has begun

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    An important disclaimer is at the bottom of this article.

    Restoration of the white-stone decor adorning the Church of the Life-Giving Trinity in Kozhevniki has begun. The church, which has the status of a cultural heritage site of federal significance, is located at 2nd Kozhevnichesky Lane, Building 6.

    “The Trinity Church in Kozhevniki is a striking example of Moscow Baroque. The entrances to the northern and southern facades are framed by carved white-stone portals with twisted columns. The history of the temple is closely connected with the famous Russian merchants Bakhrushins, who generously donated to its maintenance. Thanks to them, the interiors of the church received a rich decoration. Currently, the facades of this beautiful architectural monument are being restored. Specialists are carrying out work on repairing the brickwork and cleaning the white-stone details: Corinthian columns, cornices, arched pediments with bas-relief images, molded friezes, belts, inserts, angel heads. Also, restorers-sculptors have begun to restore the lost white-stone details on the facade of the bell tower,” said the head of the capital’s Department of Cultural Heritage.

    Alexey Emelyanov.

    The restoration of the architectural monument began in 2024. Specialists completed the gilding of the crosses, domes and dormer windows of the church, and also put the roof of the bell tower in order. Now the facades, as well as the brickwork in the bell tier, have already been cleared of late layers of plaster and paint. It is necessary to restore the wooden beams and the bell tier, cornices and window sills of the bell tower, as well as to manufacture and install window units.

    All work is carried out on the basis of an agreed project, an issued permit and under the supervision of experts from the capital Department of Cultural Heritage.

    The parish church on the territory of Kozhevennaya Sloboda already existed in the first half of the 17th century. Presumably, the author of the bell tower project was Ivan Zarudny, a famous architect, sculptor, painter and stone carver.

    Subsequently, the church was repeatedly rebuilt. Thus, a refectory with two side chapels appeared between the bell tower and the quadrangle, and in the period from 1767 to 1772, the construction of the bell tower gallery was carried out. The Moscow fire of 1812 practically did not affect the church, it was slightly burned.

    The bell tower, which previously visually complemented the development of the Kozhevnaya Sloboda, is decorated with stucco decoration typical of the mid-18th century Baroque: garlands, angel heads, volutes. At the base of the octagon there is a closed gallery.

    The unique features of the Church of the Life-Giving Trinity are the roofs and domes with crosses from the 18th–19th centuries, as well as the interiors, the design of which includes stucco decoration of the walls and ceilings with figured panels, cartouches, consoles in the gallery and in the octagon of the bell tower with the chapel of Michael the Archangel.

    In the 18th – early 19th centuries, a large plot of land located near the church and belonging to it was almost completely built up: factory buildings were erected near the church, and in the 1930s, a school building. In 1935, the church was closed. In the following years, warehouses and residential premises were located here, and then workshops of the All-Union Production Scientific Restoration Plant of the USSR Ministry of Culture.

    Get the latest news quicklyofficial telegram channel the city of Moscow.

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

    .

    MIL OSI Russia News

  • MIL-OSI Russia: Grain exports from Russia this season could amount to 53-55 million tons — Russian Minister of Agriculture

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    Moscow, July 22 /Xinhua/ — Grain exports from Russia following the results of the current agricultural season /July 1, 2025 – June 30, 2026/ may amount to 53-55 million tons, including 43-44 million tons of wheat, Russian Agriculture Minister Oksana Lut said at a meeting on the development of grain exports.

    “Taking into account all the measures taken and the progress of sowing, our forecasts for exports for the current season, which began on July 1 of this year, in general for grain we expect to export 53-55 million tons for the season and 43-44 million tons for wheat, that is, at the level of the current year, taking into account the carry-over balances that we had at the beginning of the season,” the minister said.

    According to the results of the last agricultural season, grain exports from Russia amounted to about 53 million tons, including 44 million tons of wheat.

    Despite the drought in a number of large grain-producing regions, the Russian Ministry of Agriculture is still maintaining its forecast for grain harvest this year at 135 million tons.

    “Considering that the sowing season as a whole went without any major disruptions, there are, of course, difficulties with the weather – in certain regions we have a severe drought, in certain regions we are flooded, we cannot start harvesting, but nevertheless, for now we are maintaining our forecast – 135 million tons of grain in total and 88-90 million tons of wheat,” said O. Lut. –0–

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

    .

    MIL OSI Russia News

  • MIL-OSI Russia: 221 killed, 592 injured in Pakistan monsoon rains

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    ISLAMABAD, July 22 (Xinhua) — At least 221 people have been killed and 592 others injured in flash floods and other incidents caused by heavy monsoon rains in Pakistan since late June, the country’s National Disaster Management Authority (NDMA) said.

    In its latest situation report, released on Monday, the agency said the casualties were recorded between June 26 and July 21, with five new deaths and 10 injuries reported in the past 24 hours.

    The eastern province of Punjab was the worst hit, with 135 people killed and 470 injured. In the northwestern province of Khyber Pakhtunkhwa, 46 people were killed and 69 injured.

    The southern province of Sindh reported 22 deaths and 40 injuries, while the southwestern province of Balochistan reported 16 deaths and four injuries.

    The NDMA confirmed no fatalities in the northern Gilgit-Baltistan region, although three people were injured. Pakistan-administered Kashmir reported one death and six injuries, with one child injured in Islamabad, the capital.

    Authorities have issued flood warnings and are coordinating with provincial governments to carry out relief operations and monitor vulnerable areas as rain continues. –0–

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

    .

    MIL OSI Russia News

  • MIL-OSI Africa: South Africa’s Industrial Development Corporation (IDC) to Spotlight Energy, Mining Finance Solutions at African Mining Week (AMW) 2025

    Source: APO – Report:

    .

    Thabiso Sekano, Head of Mining and Metals at the Industrial Development Corporation (IDC) of South Africa, will join African Mining Week (AMW) as a featured speaker on the high-level panel, The Investor Perspective – Financing Africa’s Mineral Industrialization. He is expected to share insights into innovative financing mechanisms that are accelerating project development across Africa’s mining and energy value chains.

    Sekano will highlight the IDC’s instrumental role in advancing South Africa’s mining sector, particularly its platinum group metals (PGMs), which represent over 70% of global reserves. Among the IDC’s recent investments, in June 2025, the agency approved R622 million in funding to Canadian firm Theta Gold Mines to develop multiple sites under the TGME Project in Mpumalanga Province. This seven-year facility is expected to extract 1.24 million ounces of gold, creating jobs and contributing to national revenue growth.

    AMW serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

    In April 2025, the IDC approved a further R1.6 billion facility to support the operational stability of ArcelorMittal South Africa, helping preserve jobs and strengthen South Africa’s position as a top global steel producer. Beyond South Africa, Sekano will spotlight the IDC’s growing regional footprint. The corporation is considering a $16 million loan to Giyani Metals to advance the K.Hill manganese project in Botswana – an important development aimed at boosting supply chains for lithium-ion batteries and electric vehicles.

    As African governments increasingly focus on formalizing small-scale mining and empowering junior miners, AMW will also offer a platform for Sekano to discuss the IDC’s initiatives targeting these groups. In 2024, the IDC launched a R400 million Junior Mining Exploration Fund in collaboration with South Africa’s Department of Mineral and Petroleum Resources and the Council for Geoscience, aimed at addressing funding constraints that limit entry and scale-up of junior mining companies.

    In addition, the IDC is driving synergies between the mining and energy sectors to foster energy resilience and decarbonization. In June 2025, it announced that four utility-scale energy projects it financed are now delivering a combined 219 MW to the national grid – powering mining operations and creating 442 annualized jobs. The agency also signed a EUR 17 million agreement with Germany’s KfW to support green hydrogen projects in South Africa, further enhancing the role of PGMs in electrolyzer technology. In March 2025, the IDC raised R2 billion through a sustainable bond issuance to scale up investments across both mining and energy.

    At AMW 2025, Sekano will unpack these developments and more, reinforcing the IDC’s commitment to sustainable, inclusive growth in Africa’s extractive and energy sectors.

    – on behalf of Energy Capital & Power.

    MIL OSI Africa

  • MIL-OSI United Kingdom: Pharaoh’s fungus yields cancer-fighting compounds

    Source: Anglia Ruskin University

    The sarcophagus inside the tomb of King Tutankhamun

    By Justin Stebbing, Anglia Ruskin University

    In November 1922, archaeologist Howard Carter peered through a small hole into the sealed tomb of King Tutankhamun. When asked if he could see anything, he replied: “Yes, wonderful things.” Within months, however, Carter’s financial backer Lord Carnarvon was dead from a mysterious illness. Over the following years, several other members of the excavation team would meet similar fates, fuelling legends of the “pharaoh’s curse” that have captivated the public imagination for just over a century.

    For decades, these mysterious deaths were attributed to supernatural forces. But modern science has revealed a more likely culprit: a toxic fungus known as Aspergillus flavus. Now, in an unexpected twist, this same deadly organism is being transformed into a powerful new weapon in the fight against cancer.

    Aspergillus flavus is a common mould found in soil, decaying vegetation and stored grains. It is infamous for its ability to survive in harsh environments, including the sealed chambers of ancient tombs, where it can lie dormant for thousands of years.

    When disturbed, the fungus releases spores that can cause severe respiratory infections, particularly in people with weakened immune systems. This may explain the so-called “curse” of King Tutankhamun and similar incidents, such as the deaths of several scientists who entered the tomb of Casimir IV in Poland in the 1970s. In both cases, investigations later found that A flavus was present, and its toxins were probably responsible for the illnesses and deaths.

    Despite its deadly reputation, Aspergillus flavus is now at the centre of a remarkable scientific finding. Researchers at the University of Pennsylvania have discovered that this fungus produces a unique class of molecules with the potential to fight cancer.

    These molecules belong to a group called ribosomally synthesised and post-translationally modified peptides, or RiPPs. RiPPs are made by the ribosome – the cell’s protein factory – and are later chemically altered to enhance their function.

    While thousands of RiPPs have been identified in bacteria, only a handful have been found in fungi – until now.

    The process of finding these fungal RiPPs was far from simple. The research team screened a dozen different strains or types of aspergillus, searching for chemical clues that might indicate the presence of these promising molecules. Aspergillus flavus quickly stood out as a prime candidate.

    The researchers compared the chemicals from different fungal strains to known RiPP compounds and found promising matches. To confirm their discovery, they switched off the relevant genes and, sure enough, the target chemicals vanished, proving they had found the source.

    Purifying these chemicals proved to be a significant challenge. However, this complexity is also what gives fungal RiPPs their remarkable biological activity.

    The team eventually succeeded in isolating four different RiPPs from Aspergillus flavus. These molecules shared a unique structure of interlocking rings, a feature that had never been described before. The researchers named these new compounds “asperigimycins”, after the fungus in which they were found.

    The next step was to test these asperigimycins against human cancer cells. In some cases, they stopped the growth of cancer cells, suggesting that asperigimycins could one day become a new treatment for certain types of cancer.

    The team also worked out how these chemicals get inside cancer cells. This discovery is significant because many chemicals, like asperigimycins, have medicinal properties but struggle to enter cells in large enough quantities to be useful. Knowing that particular fats (lipids) can enhance this process gives scientists a new tool for drug development.

    Further experiments revealed that asperigimycins probably disrupt the process of cell division in cancer cells. Cancer cells divide uncontrollably, and these compounds appear to block the formation of microtubules, the scaffolding inside cells that are essential for cell division.

    Tremendous untapped potential

    This disruption is specific to certain types of cells, so this may in turn reduce the risk of side-effects. But the discovery of asperigimycins is just the beginning. The researchers also identified similar clusters of genes in other fungi, suggesting that many more fungal RiPPs remain to be discovered.

    Almost all the fungal RiPPs found so far have strong biological activity, making this an area with tremendous untapped potential. The next step is to test asperigimycins in other systems and models, with the hope of eventually moving to human clinical trials. If successful, these molecules could join the ranks of other fungal-derived medicines, such as penicillin, which revolutionised modern medicine.

    The story of Aspergillus flavus is a powerful example of how nature can be both a source of danger and a wellspring of healing. For centuries, this fungus was feared as a silent killer lurking in ancient tombs, responsible for mysterious deaths and the legend of the pharaoh’s curse. Today, scientists are turning that fear into hope, harnessing the same deadly spores to create life-saving medicines.

    This transformation, from curse to cure, highlights the importance of continued exploration and innovation in the natural world. Nature has in fact provided us with an incredible pharmacy, filled with compounds that can heal as well as harm. It is up to scientists and engineers to uncover these secrets, using the latest technologies to identify, modify and test new molecules for their potential to treat disease.

    The discovery of asperigimycins is a reminder that even the most unlikely sources – such as a toxic tomb fungus – can hold the key to revolutionary new treatments. As researchers continue to explore the hidden world of fungi, who knows what other medical breakthroughs may lie just beneath the surface?

    Justin Stebbing, Professor of Biomedical Sciences, Anglia Ruskin University

    This article is republished from The Conversation under a Creative Commons license. Read the original article.

    The opinions expressed in VIEWPOINT articles are those of the author(s) and do not necessarily reflect the views of ARU.

    If you wish to republish this article, please follow these guidelines: https://theconversation.com/uk/republishing-guidelines

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Scheme helping SMEs grow has just got bigger

    Source: Anglia Ruskin University

    A fully-funded programme for managers of small and medium-sized enterprises (SMEs) in the East of England is expanding to help more businesses to grow.

    The 12-week Help to Grow: Management programme is designed to connect ambitious SME leaders with leading academics and experienced business professionals.

    Through interactive workshops, peer networking opportunities, and dedicated one-on-one mentoring, participants gain practical tools aimed at boosting operational efficiency and elevating business performance.

    The course focuses on crucial business areas, including leadership and strategy; marketing and international markets; financial management; and employee engagement.

    The programme also integrates participants into a network of over 140 successful alumni who continue to benefit from ongoing connections and shared experiences.

    The course is 90% Government-funded and is delivered by Anglia Ruskin University (ARU) in Cambridge and Chelmsford. ARU is now offering a fully-funded bursary to cover the remaining 10% of costs for eligible businesses, making the course available free to participants upon successful completion.

    “The Help to Grow programme is instrumental in equipping business owners with the essential knowledge and skills needed for sustainable growth and innovation. We are delighted to expand its reach, further strengthening our commitment to supporting the regional business community and fostering a vibrant alumni network.”

    Fiona McGonigle, Programme Manager and Business Engagement and Innovation Lead at ARU

    “This unique programme helps share cutting-edge business models and novel research findings from academia directly to business executives. Our goal is to improve their enterprise innovation, profitability, and overall growth strategies.”

    Dr Frank Nyame-Asiamah, Director of the Help to Grow: Management programme at ARU

    The next course begins in Cambridge on 19 September 2025, with an additional cohort starting in Chelmsford on 9 January 2026.

    For more information, contact [email protected]

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Press Release – Adult Learning Needs Survey Tuesday 22 July 2025

    Source: Channel Islands – States of Alderney

    Press Release
    Date: 22nd July 2025

    Adult Learning Needs Survey

    The Guernsey Institute has produced an Adult Learning Needs Survey which will be open to the public from Wednesday 16th July to Friday 15th August 2025.
    The States of Alderney, in conjunction with the Guernsey Institute, is seeking the views of the community to assist in collecting information that will ensure the needs of the community are delivered.

    Surveys can be collected from and returned to the General Office at the Island Hall.

    Alternatively, a printer friendly version can be found in the download section of this page, and once completed, handed in to the General Office at the Island Hall.

    Data Protection: This information will be processed in line with the Data Protection (Bailiwick of Guernsey) Law, 2017.  For full details of our Data Processing Notice and how we look after your data please visit: www.alderney.gov.gg/dp

    Ends

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Ali Bowden, the first Director of Edinburgh UNESCO City of Literature, to receive the Edinburgh Award 2025

    Source: Scotland – City of Edinburgh

    The first Director of Edinburgh UNESCO City of Literature Ali Bowden has been selected to receive the prestigious Edinburgh Award 2025.

    The Edinburgh Award was established in 2007 to honour outstanding individuals who have made a positive impact on the city and gained national and international recognition for Edinburgh. Nominations are invited annually from Edinburgh citizens and the recipient is selected by the Civic Awards Committee. Previous recipients include bestselling authors, human rights activists and world-famous sportspeople.

    Ali Bowden became Director of Edinburgh UNESCO City of Literature in 2006, following a ten-year career in publishing, and was in the role for most of its 20-year history. Edinburgh became the world’s first UNESCO Creative City in 2004 and in the following years Ali helped to welcome new Cities of Literature as they joined, recruiting others from around the world in a bid to diversify the network. There are now 53 literary cities and more than 350 creative cities in seven artforms.

    Ali will be presented with an engraved Loving Cup from the Lord Provost and have her handprints set in stone at the City Chambers later this year.

    The Lord Provost of the City of Edinburgh, and Chair of the Civic Award Committee, Robert Aldridge said:

    Ali Bowden is a most deserved recipient of the Edinburgh Award, and I’m really pleased that she has accepted the Civic Awards Committee decision to present it to her.

    Edinburgh blazed a trail when it became the first UNESCO Creative City in 2004 and with Ali at the helm for almost 20 years it has continued to flourish in this position.

    Not only has Ali gone above and beyond to create a diverse and engaging range of projects and programmes to enhance the literary city, she has played a key role in connecting Edinburgh with other literary cities around the world.

    I’d like to congratulate Ali on behalf of the city – we will all benefit from her legacy, which builds on the Capital’s rich literary heritage while also bringing reading and literature to new and varied audiences.

    Ali’s work to promote and enhance Edinburgh as a literary city includes community-based writers’ residencies, the first citywide reading campaign, and the award-winning Great Scott! installation in Waverley railway station honouring Sir Walter Scott. She was also behind the Stars & Stories trail of illuminated quotations celebrating 500 years of Edinburgh’s publishing heritage, and an initiative with ETAG to promote literary tourism.

    Ali has played a key role in making introductions, bringing opportunities and showcasing the work of writers, readers, booksellers, publishers, programmers and visitors to the benefit of Edinburgh’s literary scene.

    After 18 years as Director of Edinburgh UNESCO City of Literature, Ali stood down from the role in September 2024.

    Ali Bowden said:

    There’s no doubt that Edinburgh has stolen my heart, and I’ve happily spent the last few decades banging the drum for this impressive, bookish, story-filled and ever-changing city. I am humbled, honoured and delighted – in equal measure – to be receiving the Edinburgh Award. I know it’s only possible because of all the kind souls I’ve worked with over the years, on projects big and small, locally and internationally. All of them equally inspired by Edinburgh, this amazing, and first, City of Literature. Thank you all for doing a bit of hard work when I asked!
     

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Why London pays more for transport infrastructure projects

    Source: Mayor of London

    A study looking at tram, metro and rail projects across 14 countries, concluded that transport infrastructure of all kinds, from railways to roads, tramlines to Metros, are more expensive to build in the UK.1

    Britain Remade found Britain builds trams at twice the cost of the European average and almost four times the cost of trams in Germany. When it comes to electrifying railways, Britain pays three times more for a single mile of track than Germany. High Speed 2 (HS2) is expected to be nine times more expensive than the Tours to Bordeaux high speed line.2

    According to reports, Madrid tripled the length of its metro system in just 12 years — faster and cheaper than almost any other city in the world. Madrid was reportedly able to build so much because of its low-cost approach: The 35-mile (56 kilometre) program of expansion between 1995 and 1999 cost around $2.8 billion (in 2024 prices). London’s Jubilee Line Extension, built at the same time as Madrid’s expansion, cost nearly ten times more per mile than Madrid’s program.3 

    Tomorrow, the London Assembly Budget and Performance Committee will hear from experts on why the cost for building transport infrastructure in the UK is much higher than neighbouring countries.

    Guests are: 

    • Ben Hopkinson, Head of Housing & Infrastructure, Centre for Policy Studies
    • Dr Alexander Budzier, Chief Executive Officer, Oxford Global Projects 
    • Gareth Dennis, Railway Engineer and writer, Railnatter

    The meeting will take place on Wednesday 23 July 2025 from 10am in the Chamber at City Hall, Kamal Chunchie Way, E16 1ZE.

    Media and members of the public are invited to attend.

    The meeting can also be viewed LIVE or later via webcast or YouTube.

    Follow us @LondonAssembly.

    MIL OSI United Kingdom

  • MIL-OSI Asia-Pac: President Lai meets cross-party Irish Oireachtas delegation

    Source: Republic of China Taiwan

    Details
    2025-07-22
    President Lai meets official delegation from European Parliament’s Special Committee on the European Democracy Shield
    On the morning of July 22, President Lai Ching-te met with an official delegation from the European Parliament’s Special Committee on the European Democracy Shield (EUDS). In remarks, President Lai thanked the committee for choosing to visit Taiwan for its first trip to Asia, demonstrating the close ties between Taiwan and Europe. President Lai emphasized that Taiwan, standing at the very frontline of the democratic world, is determined to protect democracy, peace, and prosperity worldwide. He expressed hope that we can share our experiences with Europe to foster even more resilient societies. A translation of President Lai’s remarks follows: Firstly, on behalf of the people of Taiwan, I extend a warm welcome to your delegation, which marks another official visit from the European Parliament. The Special Committee on the EUDS aims to strengthen societal resilience and counter disinformation and hybrid threats. Having been constituted at the beginning of this year, the committee has chosen to visit Taiwan for its first trip to Asia, demonstrating the close ties between Taiwan and Europe and the unlimited possibilities for deepening cooperation on issues of concern. I am also delighted to see many old friends of Taiwan gathered here today. I deeply appreciate your longstanding support for Taiwan. Taiwan and the European Union enjoy close trade and economic relations and share the values of freedom and democracy. However, in recent years, we have both been subjected to information manipulation and infiltration by foreign forces that seek to interfere in democratic elections, foment division in our societies, and shake people’s faith in democracy. Taiwan not only faces an onslaught of disinformation, but also is the target of gray-zone aggression. That is why, after taking office, I established the Whole-of-Society Defense Resilience Committee at the Presidential Office, with myself as convener. The committee is a platform that integrates domestic affairs, national defense, foreign affairs, cybersecurity, and civil resources. It aims to strengthen the capability of Taiwan’s society to defend itself against new forms of threat, pinpoint external and internal vulnerabilities, and bolster overall resilience and security. The efforts that democracies make are not for opposing anyone else; they are for safeguarding the way of life that we cherish – just as Europe has endeavored to promote diversity and human rights. The Taiwanese people firmly believe that when our society is united and people trust one another, we will be able to withstand any form of authoritarian aggression. Taiwan stands at the very frontline of the democratic world. We are determined to protect democracy, peace, and prosperity worldwide. We also hope to share our experiences with Europe and deepen cooperation in such fields as cybersecurity, media literacy, and societal resilience. Thank you once again for visiting Taiwan. Your presence further strengthens the foundations of Taiwan-Europe relations. Let us continue to work together to uphold freedom and democracy and foster even more resilient societies. EUDS Special Committee Chair Nathalie Loiseau then delivered remarks, saying that the delegation has members from different countries, including France, Germany, the Czech Republic, Poland, and Belgium, and different political parties, but that they have in common their desire for stronger relations between the EU and Taiwan. Committee Chair Loiseau stated that the EU and Taiwan, having many things in common, should work more together. She noted that we have strong trade relations, strong investments on both sides, and strong cultural relations, while we are also facing very similar challenges and threats. She said that we are democracies living in a world where autocracies want to weaken and divide democracies. She added that we also face external information manipulation, cyberattacks, sabotage, attempts to capture elites, and every single gray-zone activity that aims to divide and weaken us. Committee Chair Loiseau pointed out another commonality, that we have never threatened our neighbors. She said that we want to live in peace and we care about our people; we want to defend ourselves, not to attack others. We are not being threatened because of what we do, she emphasized, but because of what we are; and thus there is no reason for not working more together to face these threats and attacks. Committee Chair Loiseau said that Taiwan has valuable experience and good practices in the area of societal resilience, and that they are interested in learning more about Taiwan’s whole-of-society approach. They in Europe are facing interference, she said, mainly from Russia, and they know that Russia inspires others. She added that they in the EU also have experience regulating social media in a way which combines freedom of expression and responsibility. In closing, the chair said that they are happy to have the opportunity to exchange views with President Lai and that the European Parliament will continue to strongly support relations between the EU and Taiwan. The delegation also included Members of the European Parliament Engin Eroglu, Tomáš Zdechovský, Michał Wawrykiewicz, Kathleen Van Brempt, and Markéta Gregorová.

    Details
    2025-07-17
    President Lai meets President of Guatemalan Congress Nery Abilio Ramos y Ramos  
    On the morning of July 17, President Lai Ching-te met with a delegation led by Nery Abilio Ramos y Ramos, the president of the Congress of the Republic of Guatemala. In remarks, President Lai thanked Congress President Ramos and the Guatemalan Congress for their support for Taiwan, and noted that official diplomatic relations between Taiwan and Guatemala go back more than 90 years. As important partners in the global democratic community, the president said, the two nations will continue moving forward together in joint defense of the values of democracy and freedom, and will cooperate to promote regional and global prosperity and development. A translation of President Lai’s remarks follows:  I recall that when Congress President Ramos visited Taiwan in July last year, he put forward many ideas about how our countries could promote bilateral cooperation and exchanges. Now, a year later, he is leading another cross-party delegation from the Guatemalan Congress on a visit, demonstrating support for Taiwan and continuing to help deepen our diplomatic ties. In addition to extending a sincere welcome to the distinguished delegation members who have traveled so far to be here, I would also like to express our concern and condolences for everyone in Guatemala affected by the earthquake that struck earlier this month. We hope that the recovery effort is going smoothly. Official diplomatic relations between Taiwan and Guatemala go back more than 90 years. In such fields as healthcare, agriculture, education, and women’s empowerment, we have continually strengthened our cooperation to benefit our peoples. Just last month, Guatemala’s President Bernardo Arévalo and the First Lady led a delegation on a state visit to Taiwan. President Arévalo and I signed a letter of intent for semiconductor cooperation, and also witnessed the signing of cooperation documents to establish a political consultation mechanism and continue to promote bilateral investment. This has laid an even sounder foundation for bilateral exchanges and cooperation, and will help enhance both countries’ international competitiveness. Taiwan is currently running a semiconductor vocational training program, helping Guatemala cultivate semiconductor talent and develop its tech industry, and demonstrating our determination to share experience with democratic partners. At the same time, we continue to assist Taiwanese businesses in their efforts to develop overseas markets with Guatemala as an important base, spurring industrial development in both countries and increasing economic and trade benefits. I want to thank Congress President Ramos and the Guatemalan Congress for their continued support for Taiwan’s international participation. Representing the Guatemalan Congress, Congress President Ramos has signed resolutions in support of Taiwan, and has also issued statements addressing China’s misinterpretation of United Nations General Assembly Resolution 2758. Taiwan and Guatemala, as important partners in the global democratic community, will continue moving forward together in joint defense of the values of democracy and freedom, and will cooperate to promote regional and global prosperity and development. Congress President Ramos then delivered remarks, first noting that the members of the delegation are not only from different parties, but also represent different classes, cultures, professions, and departments, which shows that the diplomatic ties between Guatemala and the Republic of China (Taiwan) are based on firm friendships at all levels and in all fields. Noting that this was his second time to visit Taiwan and meet with President Lai, Congress President Ramos thanked the government of Taiwan for its warm hospitality. With the international situation growing more complex by the day, he said, Guatemala highly values its longstanding friendship and cooperative ties with Taiwan, and hopes that both sides can continue to deepen their cooperation in such areas as the economy, technology, education, agriculture, and culture, and work together to spur sustainable development in each of our countries. Congress President Ramos said that the way the Taiwan government looks after the well-being of its people is an excellent model for how other countries should promote national development and social well-being. Accordingly, he said, the Guatemalan Congress has stood for justice and, for a second time, adopted a resolution backing Taiwan’s participation in the World Health Assembly. Regarding President Arévalo’s state visit to Taiwan the previous month, Congress President Ramos commented that this high-level interaction has undoubtedly strengthened the diplomatic ties between Taiwan and Guatemala and led to more opportunities for cooperation. Congress President Ramos emphasized that democracy, freedom, and human rights are universal values that bind Taiwan and Guatemala together, and that he is confident the two countries’ diplomatic ties will continue to grow deeper. In closing, on behalf of the Republic of Guatemala, Congress President Ramos presented President Lai with a Chinese translation of the resolution that the Guatemalan Congress proposed to the UN in support of Taiwan’s participation in international organizations, demonstrating the staunch bonds of friendship between the two countries. The delegation was accompanied to the Presidential Office by Guatemala Ambassador Luis Raúl Estévez López.  

    Details
    2025-07-08
    President Lai meets delegation led by Foreign Minister Jean-Victor Harvel Jean-Baptiste of Republic of Haiti
    On the morning of July 8, President Lai Ching-te met with a delegation led by Minister of Foreign Affairs Jean-Victor Harvel Jean-Baptiste of the Republic of Haiti and his wife. In remarks, President Lai noted that our two countries will soon mark the 70th anniversary of diplomatic relations and that our exchanges have been fruitful in important areas such as public security, educational cooperation, and infrastructure. The president stated that Taiwan will continue to work together with Haiti to promote the development of medical and health care, food security, and construction that benefits people’s livelihoods. The president thanked Haiti for supporting Taiwan’s international participation and expressed hope that both countries will continue to support each other, deepen cooperation, and face various challenges together. A translation of President Lai’s remarks follows: I am delighted to meet and exchange ideas with Minister Jean-Baptiste, his wife, and our distinguished guests. Minister Jean-Baptiste is the highest-ranking official from Haiti to visit Taiwan since former President Jovenel Moïse visited in 2018, demonstrating the importance that the Haitian government attaches to our bilateral diplomatic ties. On behalf of the Republic of China (Taiwan), I extend a sincere welcome. Next year marks the 70th anniversary of the establishment of diplomatic ties between our two countries. Our bilateral exchanges have been fruitful in important areas such as public security, educational cooperation, and infrastructure. Over the past few years, Haiti has faced challenges in such areas as food supply and healthcare. Taiwan will continue to work together with Haiti through various cooperative programs to promote the development of medical and health care, food security, and construction that benefits people’s livelihoods. I want to thank the government of Haiti and Minister Jean-Baptiste for speaking out in support of Taiwan on the international stage for many years. Minister Jean-Baptiste’s personal letter to the World Health Organization Secretariat in May this year and Minister of Public Health and Population Bertrand Sinal’s public statement during the World Health Assembly both affirmed Taiwan’s efforts and contributions to global public health and supported Taiwan’s international participation, for which we are very grateful. I hope that Taiwan and Haiti will continue to support each other and deepen cooperation. I believe that Minister Jean-Baptiste’s visit will open up more opportunities for cooperation for both countries, helping Taiwan and Haiti face various challenges together. In closing, I once again offer a sincere welcome to the delegation led by Minister Jean-Baptiste, and ask him to convey greetings from Taiwan to Prime Minister Alix Didier Fils-Aimé and the members of the Transitional Presidential Council. Minister Jean-Baptiste then delivered remarks, saying that he is extremely honored to visit Taiwan and reaffirm the solid and friendly cooperative relationship based on mutual respect between the Republic of Haiti and the Republic of China (Taiwan), which will soon mark its 70th anniversary. He also brought greetings to President Lai from Haiti’s Transitional Presidential Council and Prime Minister Fils-Aimé. Minister Jean-Baptiste emphasized that over the past few decades, despite the great geographical distance and developmental and cultural differences between our two countries, we have nevertheless established a firm friendship and demonstrated to the world the progress resulting from the mutual assistance and cooperation between our peoples. Minister Jean-Baptiste pointed out that our two countries cooperate closely in agriculture, health, education, and community development and have achieved concrete results. Taiwan’s voice, he said, is thus essential for the people of Haiti. He noted that Taiwan also plays an important role in peace and innovation and actively participates in global cooperative efforts. Pointing out that the world is currently facing significant challenges and that Haiti is experiencing its most difficult period in history, Minister Jean-Baptiste said that at this time, Taiwan and Haiti need to unite, help each other, and jointly think about how to move forward and deepen bilateral relations to benefit the peoples of both countries. Minister Jean-Baptiste said that he is pleased that throughout our solid and friendly diplomatic relationship, both countries have demonstrated mutual trust, mutual respect, and the values we jointly defend. He then stated his belief that Haiti and Taiwan will together create a cooperation model and future that are sincere, friendly, and sustainable. The delegation was accompanied to the Presidential Office by Chargé d’Affaires a.i. Francilien Victorin of the Embassy of the Republic of Haiti in Taiwan.

    Details
    2025-07-01
    President Lai meets delegation from 2025 Taiwan International Ocean Forum
    On the afternoon of July 1, President Lai Ching-te met with a delegation from the 2025 Taiwan International Ocean Forum (TIOF). In remarks, President Lai noted that the people of Taiwan will continue to work with democratic partners throughout the world in a maritime spirit of freedom and openness to contribute to ocean governance and jointly ensure maritime security. He expressed hope that their visit will help forge stronger friendships between Taiwan and international maritime partners, so that all can work together to spur shared maritime prosperity and sustainable development for the next generation. A translation of President Lai’s remarks follows: I want to thank our guests for coming here to the Presidential Office. The 2025 TIOF will take place tomorrow and the day after, and I thank you all for making the long trip to Taiwan to attend the event and share your valuable insights and experiences. This year’s forum will focus on strategies for strengthening maritime security and pathways to achieving a sustainable blue economy. By attending this forum, our guests are highlighting their commitment to safeguarding the oceans, and beyond that, taking concrete action to demonstrate support for Taiwan. I once again offer deepest gratitude on behalf of the people of Taiwan. Taiwan holds a key position on the first island chain, is one of the world’s top 10 shipping nations, and accounts for close to 10 percent of global container shipping by volume. As such, Taiwan occupies a unique and important position in maritime strategy. For Taiwan, the ocean is more than just a basis for survival and development; it is also an important driver of national prosperity. In my inaugural address last year, I spoke of a threefold approach to further Taiwan’s development. One of these involves further developing our strengths as a maritime nation. Our government must actively help deepen our connections with the ocean, and must continue to promote green shipping, a sustainable fishing industry, marine renewable energy, and other forms of industrial transformation. It must also make use of marine technology and digital innovation to create a new paradigm that balances environmental, economic, and social inclusion concerns. This will help enhance Taiwan’s responsibilities and competitiveness as a maritime nation. Taiwan is surrounded by ocean, and our territorial waters are a natural protective barrier. However, continued gray-zone aggression from China creates serious threats and challenges to peace and stability in the Taiwan Strait. Our government continues to invest resources to deal with increasingly complex maritime security issues. In addition to building coast guard patrol vessels, we must also step up efforts to build underwater, surface, and airborne unmanned vehicles and smart reconnaissance equipment, so as to demonstrate Taiwan’s determination to defend democracy and freedom and commitment to maintaining peace and stability in the Taiwan Strait. Oceans are Taiwan’s roots, and provide the channels by which we engage with the world. The people of Taiwan will continue to work with democratic partners throughout the world in a maritime spirit of freedom and openness to contribute to ocean governance and jointly ensure maritime security. The TIOF was first launched in 2020, and has now become an important platform for enhancement of cooperation between Taiwan and other countries. I hope that our distinguished guests will reap great benefits at this year’s forum, and further hope that this visit will help forge stronger friendships between Taiwan and international maritime partners, so that all can work together to spur shared maritime prosperity and sustainable development for the next generation. Chairman of The Washington Times Thomas McDevitt, a member of the delegation, then delivered remarks, noting first that July 4th, this Friday, is Independence Day in America. Independence is a sacred, powerful word which has great meaning in this part of the world, he said. Chairman McDevitt indicated that Taiwan has truly become a global beacon of democracy and a key partner for many nations. He then quoted President Lai’s 2024 inaugural address: “We will work together to combat disinformation, strengthen democratic resilience, address challenges, and allow Taiwan to become the MVP of the democratic world.” Chairman McDevitt went on to say that he appreciated the president’s speech with regard to his philosophical depth, sensitivity, and both moral and political clarity. He said that he was deeply moved by the speech, but within a few days of it, China responded with military activities and many threats. The chairman then emphasized that we are in a civilization crisis. Chairman McDevitt mentioned that President Lai has begun a series of 10 lectures, and remarked that they would help the world to understand the identity and the nature of Taiwan, as well as the situation we are in in the world. On behalf of all the delegation, Chairman McDevitt thanked the president for his leadership in dealing with these issues thoughtfully. Chairman McDevitt concluded with a line from the Old Testament which states that if the people have no vision, they will perish. He said that he believes Taiwan’s president has led the people of Taiwan, and the world, with a vision of how to navigate this great civilization crisis together. The delegation also included Members of the Japanese House of Representatives Kikawada Hitoshi, Aoyama Yamato, and Genma Kentaro, and Member of Parliament of the United Kingdom Gavin Williamson.

    Details
    2025-06-30
    President Lai meets Minister of State at UK Department for Business and Trade Douglas Alexander  
    On the morning of June 30, President Lai Ching-te met with Douglas Alexander, Minister of State at the Department for Business and Trade of the United Kingdom. In remarks, President Lai thanked the UK government for its longstanding support for peace and stability across the Taiwan Strait, demonstrating that Taiwan and the UK share similar goals. Noting that two years ago, Taiwan and the UK signed an enhanced trade partnership (ETP) arrangement, the president said that today Taiwan and the UK have signed three pillars under the ETP, which will help promote bilateral economic and trade cooperation. He expressed hope of the UK publicly supporting Taiwan’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) so that together we can create an economic and trade landscape in the Indo-Pacific characterized by shared prosperity and development. A translation of President Lai’s remarks follows: First, on behalf of the people of Taiwan, I extend a warm welcome to Minister Alexander and wish a fruitful outcome for the 27th round of Taiwan-UK trade talks later today. Taiwan-UK relations have grown closer in recent years. We have not only continued to strengthen cooperation in such fields as offshore wind power, innovative technologies, and culture and education but also have established regular dialogue mechanisms in the critical areas of economics and trade, energy, and agriculture. The UK is currently Taiwan’s fourth-largest European trading partner, second-largest source of investment from Europe, and third-largest target for investment in Europe. Two years ago, Taiwan and the UK signed an ETP arrangement. This was particularly meaningful, as it was the first institutionalized economic and trade framework between Taiwan and a European country. Today, this arrangement is yielding further results. I am delighted that Taiwan and the UK have signed three pillars under the ETP covering investment, digital trade, and energy and net-zero. This will help promote bilateral economic and trade cooperation and advance industrial development on both sides. I also want to thank the UK government for its longstanding support for peace and stability across the Taiwan Strait. This month, the UK published its Strategic Defence Review 2025 and National Security Strategy 2025, which oppose any unilateral attempts to change the status quo across the Taiwan Strait. These not only demonstrate that Taiwan and the UK share similar goals but also show that security and prosperity in the Indo-Pacific region are inseparable from those of the transatlantic regions. In addition, last November, the House of Commons passed a motion which made clear that United Nations General Assembly (UNGA) Resolution 2758 neither established the sovereignty of the People’s Republic of China over Taiwan nor determined Taiwan’s status in the United Nations. The UK government also responded to the motion by publicly expressing for the first time its position on UNGA Resolution 2758, opposing any attempt to broaden the interpretation of the resolution to rewrite history. For this, on behalf of the people of Taiwan, I once again want to extend my deepest gratitude. Taiwan and the UK have the advantage of being highly complementary in the technology sector. In facing the restructuring of global supply chains and other international economic and trade developments, I believe that Taiwan and the UK are indispensable key partners for one another. I look forward to the UK publicly supporting Taiwan’s accession to the CPTPP so that together, we can create an economic and trade landscape in the Indo-Pacific characterized by shared prosperity and development. In closing, I wish Minister Alexander a pleasant and successful visit. And I hope he has the opportunity to visit Taiwan for personal travel in the future. Minister Alexander then delivered remarks, saying that it is a great personal honor to meet with everyone today to discuss further deepening the UK-Taiwan trade relationship and explore the many opportunities our two sides can pursue together. He mentioned that he traveled to Taiwan in 2022 when he was a private citizen, a visit he thoroughly enjoyed, so he is delighted to be back to see the strength of the UK-Taiwan relationship and the strengthening of that relationship. He said that relationship is built on mutual respect, democratic values, and a shared vision for open, resilient, and rules-based economic cooperation. As like-minded partners, he pointed out, our collaboration continues to grow across multiple sectors, and he is here today to further that momentum. Minister Alexander stated that on trade and investment, he is proud that this morning we signed the ETP Pillars on Investment, Digital Trade, Energy and Net Zero, which will provide a clear framework for our future cooperation and lay the foundation for expanded access and market-shaping engagement between our two economies. The minister said he believes that together with our annual trade talks, this partnership will help UK’s firms secure new commercial opportunities, improve regulatory alignment, and promote long-term investment in key growth areas, which in turn will also support Taiwan’s efforts to expand high-quality trade relationships with trusted partners. Minister Alexander said that President Lai’s promotion of the Five Trusted Industry Sectors and the UK’s recently published industrial and trade strategies are very well-aligned, as both cover clean energy and semiconductors as well as advanced manufacturing. He then provided an example, saying that both sides plan to invest in AI infrastructure and compute power-creating opportunities for great joint research in the future. By combining our strengths in these areas, he said, we can open the door to innovative collaboration and commercial success for both sides. He mentioned that yesterday he visited the Taiwan Space Agency, commenting that in sectors such as satellite technology, green energy, and cyber security, British expertise and trusted standards can provide meaningful solutions. Noting that President Lai spoke in his remarks of the broader challenge of peace and security in the region, Minister Alexander stated that the United Kingdom has, of course, also continued to affirm its commitment to peace and stability in the Taiwan Strait, along with its G7 partners. The UK-Taiwan relationship is strategic, enduring, and growing, he stated, and they reaffirm and remain firm in their longstanding position and confident in their ability to work together to support both prosperity and resilience in both of our societies. Minister Alexander said that, as Taiwan looks to diversify capital and build global partnerships, they believe the UK represents a strong and ambitious investment destination, particularly for Taiwanese companies at the very forefront of robotics, clean tech, and advanced industry. He pointed out that the UK’s markets are stable, open, and aligned with Taiwan’s vision of a high-tech, sustainable future, adding that he looks forward to our discussion on how we can further deepen our cooperation across all of these areas and more. The delegation also included Martin Kent, His Majesty’s Trade Commissioner for Asia Pacific at the UK Department for Business and Trade. The delegation was accompanied to the Presidential Office by British Office Taipei Representative Ruth Bradley-Jones.   

    Details
    2025-05-20
    President Lai interviewed by Nippon Television and Yomiuri TV
    In a recent interview on Nippon Television’s news zero program, President Lai Ching-te responded to questions from host Mr. Sakurai Sho and Yomiuri TV Shanghai Bureau Chief Watanabe Masayo on topics including reflections on his first year in office, cross-strait relations, China’s military threats, Taiwan-United States relations, and Taiwan-Japan relations. The interview was broadcast on the evening of May 19. During the interview, President Lai stated that China intends to change the world’s rules-based international order, and that if Taiwan were invaded, global supply chains would be disrupted. Therefore, he said, Taiwan will strengthen its national defense, prevent war by preparing for war, and achieve the goal of peace. The president also noted that Taiwan’s purpose for developing drones is based on national security and industrial needs, and that Taiwan hopes to collaborate with Japan. He then reiterated that China’s threats are an international problem, and expressed hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war. Following is the text of the questions and the president’s responses: Q: How do you feel as you are about to round out your first year in office? President Lai: When I was young, I was determined to practice medicine and save lives. When I left medicine to go into politics, I was determined to transform Taiwan. And when I was sworn in as president on May 20 last year, I was determined to strengthen the nation. Time flies, and it has already been a year. Although the process has been very challenging, I am deeply honored to be a part of it. I am also profoundly grateful to our citizens for allowing me the opportunity to give back to our country. The future will certainly be full of more challenges, but I will do everything I can to unite the people and continue strengthening the nation. That is how I am feeling now. Q: We are now coming up on the 80th anniversary of the end of World War II, and over this period, we have often heard that conflict between Taiwan and the mainland is imminent. Do you personally believe that a cross-strait conflict could happen? President Lai: The international community is very much aware that China intends to replace the US and change the world’s rules-based international order, and annexing Taiwan is just the first step. So, as China’s military power grows stronger, some members of the international community are naturally on edge about whether a cross-strait conflict will break out. The international community must certainly do everything in its power to avoid a conflict in the Taiwan Strait; there is too great a cost. Besides causing direct disasters to both Taiwan and China, the impact on the global economy would be even greater, with estimated losses of US$10 trillion from war alone – that is roughly 10 percent of the global GDP. Additionally, 20 percent of global shipping passes through the Taiwan Strait and surrounding waters, so if a conflict breaks out in the strait, other countries including Japan and Korea would suffer a grave impact. For Japan and Korea, a quarter of external transit passes through the Taiwan Strait and surrounding waters, and a third of the various energy resources and minerals shipped back from other countries pass through said areas. If Taiwan were invaded, global supply chains would be disrupted, and therefore conflict in the Taiwan Strait must be avoided. Such a conflict is indeed avoidable. I am very thankful to Prime Minister of Japan Ishiba Shigeru and former Prime Ministers Abe Shinzo, Suga Yoshihide, and Kishida Fumio, as well as US President Donald Trump and former President Joe Biden, and the other G7 leaders, for continuing to emphasize at international venues that peace and stability across the Taiwan Strait are essential components for global security and prosperity. When everyone in the global democratic community works together, stacking up enough strength to make China’s objectives unattainable or to make the cost of invading Taiwan too high for it to bear, a conflict in the strait can naturally be avoided. Q: As you said, President Lai, maintaining peace and stability across the Taiwan Strait is also very important for other countries. How can war be avoided? What sort of countermeasures is Taiwan prepared to take to prevent war? President Lai: As Mr. Sakurai mentioned earlier, we are coming up on the 80th anniversary of the end of WWII. There are many lessons we can take from that war. First is that peace is priceless, and war has no winners. From the tragedies of WWII, there are lessons that humanity should learn. We must pursue peace, and not start wars blindly, as that would be a major disaster for humanity. In other words, we must be determined to safeguard peace. The second lesson is that we cannot be complacent toward authoritarian powers. If you give them an inch, they will take a mile. They will keep growing, and eventually, not only will peace be unattainable, but war will be inevitable. The third lesson is why WWII ended: It ended because different groups joined together in solidarity. Taiwan, Japan, and the Indo-Pacific region are all directly subjected to China’s threats, so we hope to be able to join together in cooperation. This is why we proposed the Four Pillars of Peace action plan. First, we will strengthen our national defense. Second, we will strengthen economic resilience. Third is standing shoulder to shoulder with the democratic community to demonstrate the strength of deterrence. Fourth is that as long as China treats Taiwan with parity and dignity, Taiwan is willing to conduct exchanges and cooperate with China, and seek peace and mutual prosperity. These four pillars can help us avoid war and achieve peace. That is to say, Taiwan hopes to achieve peace through strength, prevent war by preparing for war, keeping war from happening and pursuing the goal of peace. Q: Regarding drones, everyone knows that recently, Taiwan has been actively researching, developing, and introducing drones. Why do you need to actively research, develop, and introduce new drones at this time? President Lai: This is for two purposes. The first is to meet national security needs. The second is to meet industrial development needs. Because Taiwan, Japan, and the Philippines are all part of the first island chain, and we are all democratic nations, we cannot be like an authoritarian country like China, which has an unlimited national defense budget. In this kind of situation, island nations such as Taiwan, Japan, and the Philippines should leverage their own technologies to develop national defense methods that are asymmetric and utilize unmanned vehicles. In particular, from the Russo-Ukrainian War, we see that Ukraine has successfully utilized unmanned vehicles to protect itself and prevent Russia from unlimited invasion. In other words, the Russo-Ukrainian War has already proven the importance of drones. Therefore, the first purpose of developing drones is based on national security needs. Second, the world has already entered the era of smart technology. Whether generative, agentic, or physical, AI will continue to develop. In the future, cars and ships will also evolve into unmanned vehicles and unmanned boats, and there will be unmanned factories. Drones will even be able to assist with postal deliveries, or services like Uber, Uber Eats, and foodpanda, or agricultural irrigation and pesticide spraying. Therefore, in the future era of comprehensive smart technology, developing unmanned vehicles is a necessity. Taiwan, based on industrial needs, is actively planning the development of drones and unmanned vehicles. I would like to take this opportunity to express Taiwan’s hope to collaborate with Japan in the unmanned vehicle industry. Just as we do in the semiconductor industry, where Japan has raw materials, equipment, and technology, and Taiwan has wafer manufacturing, our two countries can cooperate. Japan is a technological power, and Taiwan also has significant technological strengths. If Taiwan and Japan work together, we will not only be able to safeguard peace and stability in the Taiwan Strait and security in the Indo-Pacific region, but it will also be very helpful for the industrial development of both countries. Q: The drones you just described probably include examples from the Russo-Ukrainian War. Taiwan and China are separated by the Taiwan Strait. Do our drones need to have cross-sea flight capabilities? President Lai: Taiwan does not intend to counterattack the mainland, and does not intend to invade any country. Taiwan’s drones are meant to protect our own nation and territory. Q: Former President Biden previously stated that US forces would assist Taiwan’s defense in the event of an attack. President Trump, however, has yet to clearly state that the US would help defend Taiwan. Do you think that in such an event, the US would help defend Taiwan? Or is Taiwan now trying to persuade the US? President Lai: Former President Biden and President Trump have answered questions from reporters. Although their responses were different, strong cooperation with Taiwan under the Biden administration has continued under the Trump administration; there has been no change. During President Trump’s first term, cooperation with Taiwan was broader and deeper compared to former President Barack Obama’s terms. After former President Biden took office, cooperation with Taiwan increased compared to President Trump’s first term. Now, during President Trump’s second term, cooperation with Taiwan is even greater than under former President Biden. Taiwan-US cooperation continues to grow stronger, and has not changed just because President Trump and former President Biden gave different responses to reporters. Furthermore, the Trump administration publicly stated that in the future, the US will shift its strategic focus from Europe to the Indo-Pacific. The US secretary of defense even publicly stated that the primary mission of the US is to prevent China from invading Taiwan, maintain stability in the Indo-Pacific, and thus maintain world peace. There is a saying in Taiwan that goes, “Help comes most to those who help themselves.” Before asking friends and allies for assistance in facing threats from China, Taiwan must first be determined and prepared to defend itself. This is Taiwan’s principle, and we are working in this direction, making all the necessary preparations to safeguard the nation. Q: I would like to ask you a question about Taiwan-Japan relations. After the Great East Japan Earthquake in 2011, you made an appeal to give Japan a great deal of assistance and care. In particular, you visited Sendai to offer condolences. Later, you also expressed condolences and concern after the earthquakes in Aomori and Kumamoto. What are your expectations for future Taiwan-Japan exchanges and development? President Lai: I come from Tainan, and my constituency is in Tainan. Tainan has very deep ties with Japan, and of course, Taiwan also has deep ties with Japan. However, among Taiwan’s 22 counties and cities, Tainan has the deepest relationship with Japan. I sincerely hope that both of you and your teams will have an opportunity to visit Tainan. I will introduce Tainan’s scenery, including architecture from the era of Japanese rule, Tainan’s cuisine, and unique aspects of Tainan society, and you can also see lifestyles and culture from the Showa era.  The Wushantou Reservoir in Tainan was completed by engineer Mr. Hatta Yoichi from Kanazawa, Japan and the team he led to Tainan after he graduated from then-Tokyo Imperial University. It has nearly a century of history and is still in use today. This reservoir, along with the 16,000-km-long Chianan Canal, transformed the 150,000-hectare Chianan Plain into Taiwan’s premier rice-growing area. It was that foundation in agriculture that enabled Taiwan to develop industry and the technology sector of today. The reservoir continues to supply water to Tainan Science Park. It is used by residents of Tainan, the agricultural sector, and industry, and even the technology sector in Xinshi Industrial Park, as well as Taiwan Semiconductor Manufacturing Company. Because of this, the people of Tainan are deeply grateful for Mr. Hatta and very friendly toward the people of Japan. A major earthquake, the largest in 50 years, struck Tainan on February 6, 2016, resulting in significant casualties. As mayor of Tainan at the time, I was extremely grateful to then-Prime Minister Abe, who sent five Japanese officials to the disaster site in Tainan the day after the earthquake. They were very thoughtful and asked what kind of assistance we needed from the Japanese government. They offered to provide help based on what we needed. I was deeply moved, as former Prime Minister Abe showed such care, going beyond the formality of just sending supplies that we may or may not have actually needed. Instead, the officials asked what we needed and then provided assistance based on those needs, which really moved me. Similarly, when the Great East Japan Earthquake of 2011 or the later Kumamoto earthquakes struck, the people of Tainan, under my leadership, naturally and dutifully expressed their support. Even earlier, when central Taiwan was hit by a major earthquake in 1999, Japan was the first country to deploy a rescue team to the disaster area. On February 6, 2018, after a major earthquake in Hualien, former Prime Minister Abe appeared in a video holding up a message of encouragement he had written in calligraphy saying “Remain strong, Taiwan.” All of Taiwan was deeply moved. Over the years, Taiwan and Japan have supported each other when earthquakes struck, and have forged bonds that are family-like, not just neighborly. This is truly valuable. In the future, I hope Taiwan and Japan can be like brothers, and that the peoples of Taiwan and Japan can treat one another like family. If Taiwan has a problem, then Japan has a problem; if Japan has a problem, then Taiwan has a problem. By caring for and helping each other, we can face various challenges and difficulties, and pursue a brighter future. Q: President Lai, you just used the phrase “If Taiwan has a problem, then Japan has a problem.” In the event that China attempts to invade Taiwan by force, what kind of response measures would you hope the US military and Japan’s Self-Defense Forces take? President Lai: As I just mentioned, annexing Taiwan is only China’s first step. Its ultimate objective is to change the rules-based international order. That being the case, China’s threats are an international problem. So, I would very much hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war – prevention, after all, is more important than cure.

    MIL OSI Asia Pacific News

  • MIL-OSI: Recording of LHV Group’s 22 July investor webinar

    Source: GlobeNewswire (MIL-OSI)

    To give an overview of the 2025 Q2 financial results, LHV Group organised an investor meeting webinar on 22 July. An overview of the company’s progress was given by Madis Toomsalu, former Chairman of the Management Board of LHV Group, Mihkel Torim, Chairman of the Management Board of LHV Group, and Meelis Paakspuu, CFO of LHV Group.

    The live coverage was followed by 32 participants, the live feed of the presentation was broadcast over Zoom.

    Recording of the investor meeting (in Estonian) is available at: https://www.youtube.com/watch?v=4HRsdcw4O_c

    Presentation (in English) at: www.lhv.ee/assets/files/investor/LHV_Group_Investoresitlus_2025-Q2_EN.pdf

    LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs over 1,100 people. As at the end of June, LHV Pank services are being used by 474,000 clients, the pension funds managed by LHV have 110,000 active clients, and LHV Kindlustus protects a total of 176,000 clients. LHV Bank Limited, a subsidiary of the Group, holds a banking licence in the United Kingdom and provides banking services to international financial technology companies, as well as loans to small and medium-sized enterprises.

     

    Investor Relations

    Sten Hans Jakobsoo
    Head of Investor Relations and Corporate Development
    Email: stenhans.jakobsoo@lhv.ee

    Communications

    Paul Pihlak
    Head of Investment Communications
    Email: paul.pihlak@lhv.ee 

    The MIL Network

  • MIL-OSI NGOs: Greenpeace calls for drastic cut in plastic production as new report reveals millions at risk of toxic air pollution exposure

    Source: Greenpeace Statement –

    Amsterdam, The Netherlands – A new Greenpeace International report released today reveals that over 50 million people in 11 countries [1] are at risk of exposure to hazardous air pollution from plastic linked petrochemical production. The findings intensify pressure on negotiators at the Global Plastics Treaty talks in Geneva to secure a treaty that tackles the problem at its source: plastic production.

    Graham Forbes, Global Plastics Campaign Lead for Greenpeace USA and Greenpeace Head of Delegation for the Global Plastics Treaty negotiation said: “What this report shows is that the plastics crisis is a public health emergency. The Global Plastics Treaty must deliver a 75% cut in plastic production by 2040 to reduce escalating threats to human and planetary health. People are being poisoned so fossil fuel and petrochemical companies can churn out more unnecessary plastic. Without a treaty that cuts production, the plastic crisis will only grow worse.”

    The report, Every Breath You Take: Air Pollution Risks from Petrochemicals Production for the Plastics Supply Chain, shifts the lens to midstream level plastic production—to the petrochemical plants that produce precursors to plastic and expose frontline communities living near to these facilities who are potentially facing exposure to dangerous air pollutants.

    During the production of feedstock, petrochemical facilities emit a suite of harmful airborne substances typically including Volatile Organic Compounds (VOCs), nitrogen oxides (NOₓ), and sulfur oxides (SOₓ) and particulate matter (PM). Studies report higher concentrations of these pollutants near petrochemical facilities, with proximity linked to increased illness—raising a serious cause for concern.

    Key findings from the report include:

    • Over 51 million people in the 11 countries studied live within 10 km of plastics-linked petrochemical facilities; 16 million live within 5 km. In every country studied, residential areas lie within 10 km of plastic-linked petrochemical plants.
    • The United States has the highest number of people living at a distance that is linked to elevated risk—13 million, especially in Texas and Louisiana.
    • One in four people in the Netherlands live at a distance that is linked to elevated risk of exposure to air pollution emissions, including toxic emissions, from petrochemical plants. It has the highest proportion of its population at risk with 4.5 million people or 25.6% of the entire population within the exposure zones assessed in the analysis. The country with the second highest proportion is Switzerland at 10.9% of the population.
    • The pollution created by some petrochemical plants in the regions reviewed for the report is transboundary. Several plants are located in border zones, affecting communities in Austria, Poland, Singapore, Belgium, France and Germany.[2]
    • In documented case studies, communities near petrochemical facilities suffer disproportionately from cancer, respiratory disease, and premature death. The UN has labeled some of these areas “sacrifice zones.”

    The report also warns of industry plans to expand global plastic production through 2050, which would create more sacrifice zones, more waste exported to low-income countries, and more short-lived products driving the climate, health and waste crisis.

    The global Greenpeace network is demanding that the Global Plastics Treaty must reduce plastic production by at least 75% by 2040 to protect people’s health, the climate and the environment. The next round of negotiations will happen on August 5 to 14, 2025 in Geneva, Switzerland.

    ENDS

    Full report: Every Breath You Take: Air Pollution Risks from Petrochemicals Production for the Plastics Supply Chain

    Photos and videos can be accessed in the Greenpeace Media Library

    Interactive maps of petrochemical production zones

    Notes: 

    [1] The report, Every Breath You Take: Air Pollution Risks from Petrochemicals Production for the Plastics Supply Chain, identified the locations of petrochemical facilities linked to plastics in 11 countries: Philippines, Thailand, Malaysia, Indonesia, South Korea, Canada, USA, Germany, United Kingdom, Switzerland, and the Netherlands. The countries were selected because of their significant petrochemical presence or association with major plastic-related concerns.

    [2] The transboundary zones include populations in Austria and Poland (from German facilities), Singapore (from Malaysian facilities) Belgium and Germany (from Dutch facilities) France and Germany (from Swiss facilities).

    Contacts:

    Angelica Carballo Pago, Global Plastics Campaign Media Lead, Greenpeace USA, +63 917 1124492, [email protected]

    Greenpeace International Press Desk, +31 (0) 20 718 2470 (available 24 hours), [email protected]

    MIL OSI NGO

  • MIL-OSI: Bitcoin Solaris Announces Final Genesis Event Offering: $1 Token Price for Last 100 Participants

    Source: GlobeNewswire (MIL-OSI)

    TALLINN, Estonia, July 22, 2025 (GLOBE NEWSWIRE) — Every altcoin season brings surprises. Some coins pump on pure hype. Others, like Bitcoin Solaris, are building real momentum by delivering on tech, scalability, and accessibility. The crypto market is once again heating up with investors racing to secure what could be the next big success story. Unlike overhyped projects riding temporary waves, Bitcoin Solaris has built its case on solid fundamentals. Its Genesis Event is currently rolling back the price from $13 to just $1 for a very short time, giving early investors a shot at a 1900% ROI before launch.

    With just 100 slots left, this is the kind of opportunity that feels like Bitcoin’s early days repeating themselves, but with modern tech, faster performance, and mobile-first accessibility at the heart of its offering. This is why so many crypto enthusiasts are now focusing on BTC-S as their top altcoin pick for serious long-term potential.

    Bitcoin Solaris: A Scalable, Mobile-First Future for Wealth Generation

    Bitcoin Solaris is not just another altcoin chasing trends. Its core technology is designed to solve the issues Bitcoin never could. Through its dual-consensus architecture, Bitcoin Solaris offers 10,000+ transactions per second, validator rotation for fairness and security, and energy efficiency 99.95% greater than traditional mining. Its mobile-first scalability through the upcoming Solaris Nova app ensures mass adoption potential by letting users mine easily from any device.

    These fundamentals make BTC-S more than hype. They make it a realistic contender for significant growth, offering everyday users new ways to build wealth through mining, transactions, and adoption.

    Presale Momentum: Only Few Slots Left at $1

    Bitcoin Solaris is now deep into its final presale phase, phase 13.

    • Current Price: $13
    • Launch Price: $20

    Over $7.7M has been raised. 15,800+ unique users have joined. This is already one of the most explosive presales on record. But what is truly making waves is the Genesis Event rollback. For a very limited time, BTC-S is rolling back from $13 to just $1 for the final 100 participants.

    Genesis Event Key Details:

    • Rollback to $1 instead of $13
    • Potential ROI of 1900% at launch
    • Only around 1 week left

    This is not labeled as a discount or bonus. It is a rare opportunity for those who move fast enough to secure it.

    Wallets like Trust Wallet and Metamask are recommended for receiving your tokens smoothly at launch.

    Forget Hype, Bitcoin Solaris Is Backed by Real Tech and Real Growth

    Influencers Are Talking

    The buzz around Bitcoin Solaris is growing fast. Multiple influencers have already taken notice.

    • Token Empire praised the scalability and dual-consensus model.
    • Crypto Vlog highlighted the mobile-first mining and high TPS.
    • Token Galaxy focused on how BTC-S could mirror Bitcoin’s early wealth potential.

    These are not throwaway reviews. These influencers are focused on fundamentals, and Bitcoin Solaris is delivering.

    Why Bitcoin Solaris Has the Community Excited

    Bitcoin Solaris offers more than speculation. Its foundation includes:

    • Energy-efficient mining
    • Dual-layer consensus for scalability and security
    • Smart contracts for DeFi adoption
    • 10,000+ TPS for real-world use
    • Mobile-first approach via the upcoming Solaris Nova app

    These features make it a standout in an increasingly crowded space.

    Liquid Staking Brings Passive Income With Flexibility

    Bitcoin Solaris is innovating beyond mining through its liquid staking model. Users earn rewards while maintaining full access to their assets through sBTC-S tokens (1:1). These tokens can be used in DeFi, traded, or held without restrictions.

    Benefits of liquid staking:

    • Earn rewards while keeping liquidity
    • sBTC-S tokens fully usable in DeFi platforms
    • Supports network strength through increased staking
    • Fully integrated with the Solaris Nova App and its smart validator system

    Learn more about this system at Bitcoin Solaris Liquid Staking.

    Final Verdict: Bitcoin Solaris Is the Opportunity

    Bitcoin Solaris is positioning itself as more than just another altcoin. With its advanced dual-consensus model, energy efficiency, and 10,000+ TPS scalability, BTC-S is built for real-world adoption while giving users easy access through mobile mining and DeFi. The project’s strategic rollout and growing user base show strong momentum heading into launch.

    This is not about guessing the next meme coin. Bitcoin Solaris offers a realistic pathway to wealth creation through technology, accessibility, and scalability. The fact that only 100 slots remain at $1 adds urgency to what is already one of the most talked-about opportunities in the altcoin space right now. If you missed Bitcoin’s early days or watched other projects 10x without you, this could be the moment to finally change that narrative.

    For more information on Bitcoin Solaris:
    Website: https://www.bitcoinsolaris.com/
    Telegram: https://t.me/Bitcoinsolaris
    X: https://x.com/BitcoinSolaris   

    Media Contact:
    Xander Levine
    press@bitcoinsolaris.com
    Press Kit: Available upon request

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

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

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/b6db7fef-96ce-4418-9b44-5b74ae312406

    https://www.globenewswire.com/NewsRoom/AttachmentNg/cb9de2a0-74ca-4b37-b92e-0168c95ee4f9

    https://www.globenewswire.com/NewsRoom/AttachmentNg/166fbb5e-2dc6-4672-94a2-44c0bbbe42cb

    https://www.globenewswire.com/NewsRoom/AttachmentNg/b638ca37-b486-438b-9011-6495e84c60d0

    The MIL Network

  • MIL-OSI: Bitcoin Solaris Announces Final Genesis Event Offering: $1 Token Price for Last 100 Participants

    Source: GlobeNewswire (MIL-OSI)

    TALLINN, Estonia, July 22, 2025 (GLOBE NEWSWIRE) — Every altcoin season brings surprises. Some coins pump on pure hype. Others, like Bitcoin Solaris, are building real momentum by delivering on tech, scalability, and accessibility. The crypto market is once again heating up with investors racing to secure what could be the next big success story. Unlike overhyped projects riding temporary waves, Bitcoin Solaris has built its case on solid fundamentals. Its Genesis Event is currently rolling back the price from $13 to just $1 for a very short time, giving early investors a shot at a 1900% ROI before launch.

    With just 100 slots left, this is the kind of opportunity that feels like Bitcoin’s early days repeating themselves, but with modern tech, faster performance, and mobile-first accessibility at the heart of its offering. This is why so many crypto enthusiasts are now focusing on BTC-S as their top altcoin pick for serious long-term potential.

    Bitcoin Solaris: A Scalable, Mobile-First Future for Wealth Generation

    Bitcoin Solaris is not just another altcoin chasing trends. Its core technology is designed to solve the issues Bitcoin never could. Through its dual-consensus architecture, Bitcoin Solaris offers 10,000+ transactions per second, validator rotation for fairness and security, and energy efficiency 99.95% greater than traditional mining. Its mobile-first scalability through the upcoming Solaris Nova app ensures mass adoption potential by letting users mine easily from any device.

    These fundamentals make BTC-S more than hype. They make it a realistic contender for significant growth, offering everyday users new ways to build wealth through mining, transactions, and adoption.

    Presale Momentum: Only Few Slots Left at $1

    Bitcoin Solaris is now deep into its final presale phase, phase 13.

    • Current Price: $13
    • Launch Price: $20

    Over $7.7M has been raised. 15,800+ unique users have joined. This is already one of the most explosive presales on record. But what is truly making waves is the Genesis Event rollback. For a very limited time, BTC-S is rolling back from $13 to just $1 for the final 100 participants.

    Genesis Event Key Details:

    • Rollback to $1 instead of $13
    • Potential ROI of 1900% at launch
    • Only around 1 week left

    This is not labeled as a discount or bonus. It is a rare opportunity for those who move fast enough to secure it.

    Wallets like Trust Wallet and Metamask are recommended for receiving your tokens smoothly at launch.

    Forget Hype, Bitcoin Solaris Is Backed by Real Tech and Real Growth

    Influencers Are Talking

    The buzz around Bitcoin Solaris is growing fast. Multiple influencers have already taken notice.

    • Token Empire praised the scalability and dual-consensus model.
    • Crypto Vlog highlighted the mobile-first mining and high TPS.
    • Token Galaxy focused on how BTC-S could mirror Bitcoin’s early wealth potential.

    These are not throwaway reviews. These influencers are focused on fundamentals, and Bitcoin Solaris is delivering.

    Why Bitcoin Solaris Has the Community Excited

    Bitcoin Solaris offers more than speculation. Its foundation includes:

    • Energy-efficient mining
    • Dual-layer consensus for scalability and security
    • Smart contracts for DeFi adoption
    • 10,000+ TPS for real-world use
    • Mobile-first approach via the upcoming Solaris Nova app

    These features make it a standout in an increasingly crowded space.

    Liquid Staking Brings Passive Income With Flexibility

    Bitcoin Solaris is innovating beyond mining through its liquid staking model. Users earn rewards while maintaining full access to their assets through sBTC-S tokens (1:1). These tokens can be used in DeFi, traded, or held without restrictions.

    Benefits of liquid staking:

    • Earn rewards while keeping liquidity
    • sBTC-S tokens fully usable in DeFi platforms
    • Supports network strength through increased staking
    • Fully integrated with the Solaris Nova App and its smart validator system

    Learn more about this system at Bitcoin Solaris Liquid Staking.

    Final Verdict: Bitcoin Solaris Is the Opportunity

    Bitcoin Solaris is positioning itself as more than just another altcoin. With its advanced dual-consensus model, energy efficiency, and 10,000+ TPS scalability, BTC-S is built for real-world adoption while giving users easy access through mobile mining and DeFi. The project’s strategic rollout and growing user base show strong momentum heading into launch.

    This is not about guessing the next meme coin. Bitcoin Solaris offers a realistic pathway to wealth creation through technology, accessibility, and scalability. The fact that only 100 slots remain at $1 adds urgency to what is already one of the most talked-about opportunities in the altcoin space right now. If you missed Bitcoin’s early days or watched other projects 10x without you, this could be the moment to finally change that narrative.

    For more information on Bitcoin Solaris:
    Website: https://www.bitcoinsolaris.com/
    Telegram: https://t.me/Bitcoinsolaris
    X: https://x.com/BitcoinSolaris   

    Media Contact:
    Xander Levine
    press@bitcoinsolaris.com
    Press Kit: Available upon request

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

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

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/b6db7fef-96ce-4418-9b44-5b74ae312406

    https://www.globenewswire.com/NewsRoom/AttachmentNg/cb9de2a0-74ca-4b37-b92e-0168c95ee4f9

    https://www.globenewswire.com/NewsRoom/AttachmentNg/166fbb5e-2dc6-4672-94a2-44c0bbbe42cb

    https://www.globenewswire.com/NewsRoom/AttachmentNg/b638ca37-b486-438b-9011-6495e84c60d0

    The MIL Network

  • MIL-OSI Europe: July results of the Bank Lending Survey in Germany | Demand continued to rise in all loan categories

    Source: Deutsche Bundesbank

    The German banks responding to the Bank Lending Survey (BLS) tightened their credit standards for loans to enterprises and loans to households in the second quarter of 2025. Increased credit risk and lower risk tolerance were the rationale behind the tightening.
    The surveyed banks barely changed their credit terms and conditions for loans to enterprises and loans to households for house purchase. For consumer credit and other lending to households, they tightened credit terms and conditions on balance.
    Loan demand continued to rise in all loan categories; the demand for loans to enterprises increased more strongly than in previous quarters.
    The non-performing loans (NPL) ratio and other indicators of credit quality had a tightening impact on banks’ credit standards, terms and conditions in all loan categories under review.
    Owing to climate-related risks and measures to cope with climate change, the past twelve months saw banks tighten their credit standards for “brown” firms and firms in transition. In the case of loans to households for house purchase, credit standards for loans for buildings with poor energy performance also became more restrictive.

    The BLS covers three loan categories: loans to enterprises, loans to households for house purchase, and consumer credit and other lending to households. On balance, the surveyed banks tightened their credit standards (i.e. their internal guidelines or loan approval criteria) for loans to enterprises and loans to households. The net share of banks that tightened their standards stood at + 3 % for loans to enterprises (compared with + 3 % in the previous quarter). Credit standards for loans to enterprises were tightened only for small and medium-sized enterprises. The banks tightened credit standards for loans to households for house purchase by + 11 % in net terms (compared with − 7 % in the previous quarter) and for consumer credit and other lending to households by + 11 % in net terms (compared with 0 % in the previous quarter). Banks tightened their credit standards for all reported loan categories to a lesser extent than they had planned in the previous quarter. 
    The rationale given by the banks for the marginal tightening of credit standards for loans to enterprises was elevated credit risk owing to the gloomier economic situation and the economic outlook. The banks cited a decrease in their risk tolerance as the main reason for tightening their credit standards for loans to households. In addition, a decline in households’ creditworthiness had a restrictive impact on consumer credit and other lending. For the third quarter of 2025, banks are planning to ease their credit standards for loans to enterprises. As regards loans to households, they expect to tighten credit standards again if borrowers’ credit quality continues to deteriorate.

    Changes in credit standards for loans to enterprises and contributing factors

    On aggregate, banks made hardly any changes to their credit terms and conditions (i.e. the terms and conditions actually approved as laid down in the loan contract) for loans to enterprises and loans to households for house purchase. For consumer credit and other lending to households, they tightened credit terms and conditions on balance. The banks justified these adjustments primarily on the grounds of their reduced risk tolerance and an increase in credit risk.
    The surveyed banks reported that demand for bank loans in Germany had risen on balance in all loan categories in the second quarter of 2025. The increase in demand exceeded the banks’ expectations from the previous quarter in all surveyed business areas. Demand for loans to enterprises rose more strongly than in previous quarters. The banks cited an increase in financing needs for fixed investment as well as for inventories and working capital as the reason. In both cases, this was the first time in a year that banks reported moderate growth in funding needs again. In addition, the general level of interest rates also contributed to the increase in demand. According to the surveyed banks, the renewed significant rise in demand for loans to households for house purchase was due mainly to households’ positive view of the outlook on the housing market and the lower level of interest rates. Banks put the rise in households’ demand for consumer credit and other lending down to improved consumer confidence and an increase in purchases of durable consumer goods. The loan rejection rate for loans to enterprises went up again, primarily for loan requests and applications from small and medium-sized enterprises. The rejection rate also increased for consumer credit and other lending to households, but remained unchanged for loans for house purchase. For the third quarter of 2025, banks are expecting to see demand increase further across all three loan categories. For loans to enterprises, banks are expecting positive impetus from domestic economic policy but at the same time a dampening impact from the global political situation.

    Change in demand for loans to enterprises and contributing factors

    The July survey round contained ad hoc questions on participating banks’ financing conditions and about the impact of NPLs and other indicators of credit quality on the institutions’ lending policies. It also contained a question on their credit standards, terms and conditions, and on demand for loans across the main economic sectors. In addition, for the third time, BLS banks were surveyed on the impact of climate change and climate-related measures on bank lending. They were asked to report on the impact for “green” firms (firms that do not contribute or contribute little to climate change), firms in transition (firms that contribute to climate change, which are making relevant progress in the transition), and “brown” firms (firms that contribute strongly to climate change, which have not yet started or have so far made only little progress in the transition). This question was expanded for the first time to include a question on the impact of climate change and climate-related measures in connection with loans to households for house purchase. Another ad hoc question assessed the impact of excess liquidity on bank lending.
    Given the conditions in financial markets, German banks reported that their funding situation had improved slightly compared with the previous quarter. 
    In the second quarter of 2025, the NPL ratio (the stock of gross NPLs on the bank’s balance sheet as a percentage of the gross carrying amount of loans) and other indicators of credit quality, owing to their size, had a restrictive impact on credit standards, terms and conditions for loans to enterprises and loans to households. For the third quarter of 2025, the banks are expecting this credit quality-driven restrictive effect to continue. Credit standards for loans to enterprises were tightened most sharply over the past six months in the (commercial) real estate and manufacturing sectors. However, credit standards were also tightened for all other sectors surveyed, with the exception of services. For the next six months, banks are not expecting to make any noteworthy adjustments to credit standards in any of the economic sectors, the first time they have reported this for quite some time.
    Climate-related risks and measures to cope with climate change have had a restrictive impact on credit standards for loans to enterprises over the past twelve months. The more the enterprises contributed to climate change, the greater that impact was. The effects of climate change had a restrictive impact on credit terms and conditions, especially those for loans to “brown” firms. The effect was expansionary, on the other hand, for loans to “green” firms. Over the next twelve months, banks expect climate change to ease their credit standards, terms and conditions for “green” firms. They are expecting climate change to have a further restrictive impact on their credit standards, terms and conditions for loans to other enterprises. At the same time, the effects of climate change, taken in isolation, stimulated loan demand from “green” firms and firms in transition. By contrast, climate change and climate policy had no impact on loan demand from “brown” firms. For the next twelve months, banks are expecting to see climate change stimulate demand for loans irrespective of firms’ classification.
    In the case of loans to households for house purchase, credit standards for loans for buildings with poor energy performance were tightened. By contrast, for loans for buildings with high or reasonably good energy performance, climate-related risks and measures to cope with climate change had no notable impact on credit standards. Over the next twelve months, banks expect this adjustment of credit standards, which is dependent on buildings’ energy performance, to continue. At the same time, climate-related factors, especially investment in the energy performance of buildings, in isolation, stimulated demand for loans for buildings with high or reasonably good energy performance. By contrast, demand for loans for buildings with poor energy performance remained unaffected by climate-related factors. Over the next twelve months, banks expect rising demand for loans for buildings with high energy performance and declining loan demand for buildings with poor energy performance.
    The banks do not see developments in excess liquidity held with the Eurosystem as having had any impact on bank lending over the past six months. By their account, that is unlikely to change in the next six months. 
    The Bank Lending Survey, which is conducted four times a year, took place between 13 June and 1 July 2025. In Germany, 33 banks took part in the survey, with a response rate of 100 %.

    Changes in credit standards for loans to enterprises across main economic sectors

    Changes in credit standards for loans to households for house purchases and contributing factors

    Change in demand for loans to households for house purchase and contributing factors

    Time series credit standards
    Loans to enterprises
    Loans to households for house purchase
    Consumer credit and other lending to households

    MIL OSI

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Transparency and democratic accountability in Commission practices – E-002868/2025

    Source: European Parliament

    Question for written answer  E-002868/2025
    to the Commission
    Rule 144
    Dick Erixon (ECR), Charlie Weimers (ECR), Beatrice Timgren (ECR)

    In recent years, the Commission has been criticised for a pattern of opaque decision-making and lack of disclosure, raising concerns about democratic accountability in the EU. This includes the refusal to disclose key communications during major public procurement processes, restrictions on access to contracts with non-governmental organisations receiving EU funding and self-imposed exemptions from transparency rules in meetings with non-EU authorities[1][2][3].

    These practices raise concerns about democratic accountability within the EU and risk eroding public trust in EU governance. If the Commission expects Member States to uphold the rule of law and transparency, it must apply the same standards to its own conduct.

    • 1.What concrete measures will the Commission take to improve institutional transparency, particularly in relation to high-level communications and procurement processes involving significant public funds?
    • 2.Does the Commission consider it compatible with democratic principles that Members of the European Parliament can only access NGO funding contracts under confidentiality agreements, and if so, why?
    • 3.Will the President of the European Commission commit to publishing a comprehensive list of meetings held between Commission officials and non-EU representatives since 2022, including the purpose and participants of such meetings?

    Submitted: 14.7.2025

    • [1] https://brusselssignal.eu/2025/04/ec-admits-misuse-and-undue-lobbying-activities-in-grant-awards/.
    • [2] https://www.sullcrom.com/insights/memo/2025/May/EU-Court-Landmark-Ruling-Reinforces-Transparency-EU-Institutions.
    • [3] https://www.europarl.europa.eu/doceo/document/E-10-2025-001292_EN.html.
    Last updated: 22 July 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – G7 declaration on the minimum international taxation regime and advantages provided to US-based multinationals – E-002858/2025

    Source: European Parliament

    Question for written answer  E-002858/2025
    to the Council
    Rule 144
    Fabio De Masi (NI)

    The Commission has recently argued that the G7’s declaration on the treatment reserved for the United States as regards the minimum international taxation of multinationals should be automatically translated into EU law, without requiring amendments to EU law. Adopting the declaration would mean that US multinationals would continue to benefit from the ‘safe harbour’ mechanism and would therefore not be subject to the 15 % minimum tax requirement. This would be achieved through the establishment of a side-by-side system. This system could also give the United States a slight competitive advantage over European companies.

    I would therefore like to ask the following questions:

    • 1.Is there agreement among the Member States regarding the adoption of the G7 declaration?
    • 2.Was there a vote in the Council on approving the G7 declaration?
    • 3.Are there specific measures under discussion that could offset the potential competitive disadvantage associated with the side-by-side system?

    Submitted: 14.7.2025

    Last updated: 22 July 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – The Commission’s Rule of Law Report – E-002852/2025

    Source: European Parliament

    Question for written answer  E-002852/2025
    to the Commission
    Rule 144
    Erik Kaliňák (NI)

    The Commission’s Rule of Law Report was initially portrayed as a document that would offer an objective, impartial and evidence-based evaluation of the state of the rule of law in the Member States. Unfortunately, I must say that the declared ambitions have not been fulfilled, even several years later. The report repeatedly suffers from the same shortcomings.

    In light of the foregoing:

    • 1.Given that it is now clear that the Commission treats some Member States more strictly while overlooking the shortcomings of others, how does it intend to ensure the political neutrality of the report?
    • 2.How does the Commission intend to guarantee objectivity when the report often lacks adequate justification for its assertions (the Commission often fails to provide evidence to support its assertions or their broader context)?
    • 3.How does it intend to ensure that the report responds only to actual shortcomings and does not criticise states for hypothetical, non-existent threats?

    Submitted: 14.7.2025

    Last updated: 22 July 2025

    MIL OSI Europe News