Category: European Union

MIL-OSI Europe: United Nations/Environment – France’s ratification of the UN agreement on marine biodiversity (5 Feb. 2025)

Source: Republic of France in English
The Republic of France has issued the following statement:

On 5 February, France deposited with the United Nations Secretary-General its ratification instrument for the Agreement under the United Nations Convention on the Law of the Sea on the Conservation and Sustainable Use of Marine Biological Diversity of Areas beyond National Jurisdiction, known as the BBNJ Agreement.

This deposit completes the ratification process, following Parliament’s unanimous adoption of the bill presented by the Minister for Europe and Foreign Affairs, Jean-Noël Barrot, on 5 November 2024.

France is fully mobilized to achieve the 60 ratifications necessary for the agreement to come into force, between now and the United Nations Ocean Conference (UNOC), which will be held in Nice in June 2025.

MIL OSI Europe News –

February 6, 2025
MIL-OSI Economics: Upcoming IADC Conferences in Feb & May 2025
Source: International Association of Drilling Contractors – IADC

Headline: Upcoming IADC Conferences in Feb & May 2025

Join the IADC Geothermal Drilling Conference & Exhibition to be at the forefront of the future of energy. This conference will focus on Geothermal Upstream, which includes subsurface, drilling, production, completions, regulatory environment, and associated topics. As a participant, you will gain insights into relevant business and ownership models, contracting and procurement strategies, and supply chains.

The conference will showcase groundbreaking technologies with the potential to revolutionize the geothermal industry and the entire energy sector. IADC’s expertise in providing definitions and guidelines for the Petroleum Upstream ideally positions it to establish a vocabulary, terms, and standards within the geothermal industry.

Geothermal energy regulatory regimes are inconsistent, and immature compared to those of the oil and gas industry, which creates obstacles and extends the lead time for geothermal projects. The conference will analyze differences in regulatory regimes and provide valuable insights for businesses and regulators.
- DATE: 25-26 March 2025
- LOCATION: Vienna, Austria
- VENUE: Hilton Vienna Park
MIL OSI Economics –
February 6, 2025
MIL-OSI Global: What Trump’s proposal to ‘take over’ Gaza could mean for Arab-Israeli relations

Source: The Conversation – UK – By Simon Mabon, Professor of International Relations, Lancaster University

US president Donald Trump has made the extraordinary suggestion that the US should seize control of the Gaza Strip and permanently remove its Palestinian inhabitants. Speaking to the press at the White House alongside the Israeli prime minister, Benjamin Netanyahu, Trump said the US would “own [Gaza] and be responsible”.

When pushed on the practicalities of such a move, Trump replied that the US would “do what is necessary” and develop the land into the “riviera of the Middle East”. “It’ll be something that the entire Middle East can be very proud of,” he said.

The secretary of state, Marco Rubio, later wrote in a post on X: “The United States stands ready to lead and Make Gaza Beautiful Again. Our pursuit is one of lasting peace in the region for all people.”

Trump’s declaration has been celebrated by many on the Israeli right, who have long supported the removal of Palestinian residents from Gaza. But it has also been met with anger across the Arab world and beyond.

Francesca Albanese, the UN special rapporteur on the occupied Palestinian territories, called Trump’s proposal “incitement to commit forced displacement”. Some politicians have described his comments as an endorsement of ethnic cleansing.

Trump first uttered his desire to “clean out” Gaza a week before this announcement. This prompted foreign ministers from Saudi Arabia, the United Arab Emirates, Qatar, Jordan and Egypt to sign a statement affirming their rejection of efforts to “compromise Palestinians’ unalienable rights, whether through settlement activities, or evictions or annex of land or through vacating the land from its owners”.

The statement, made by a group of states not generally known for operating in a unified manner, ended by congratulating Rubio on his appointment. But the message to the Trump administration was clear: the two-state solution is the only viable solution to the Israeli-Palestinian conflict.

Trump’s latest proclamations will deepen schisms across the region between Israel and its Arab neighbours, and prompt questions about the future role of the US in the Middle East.

Egypt and Jordan’s response

Any attempt by Washington to seize control of Gaza, which would almost certainly involve military force, would evoke parallels with 1948 and what is known in Arabic as the nakba, or “the catastrophe”.

At that time, many Palestinians had to flee their land in what is now Israel, setting in motion decades of conflict between Israel and neighbouring Arab states. Acts of terrorism in the intervening years have cost thousands of lives on all sides.

Trump’s call for Arab states to take in Palestinians from Gaza – who he says have no alternative but to abandon the coastal strip – ignores the strength of feeling across the world about the Palestinian issue.

Egypt, for example, has long rejected the idea of housing Gaza’s population, amid growing socio-economic pressures and longstanding fears of Islamist violence. And Jordan has been steadfast in its desire not to host more Palestinians, having already provided refuge for people fleeing Palestine in 1948 and 1967. It has, more recently, also become the main destination for refugees from Lebanon, Syria and Iraq.

On February 5, Egypt’s foreign minister, Badr Abdelatty, met with the prime minister of the Palestinian Authority, Mohammed Mustafa, in Cairo. According to an Egyptian foreign ministry statement, the pair jointly rejected Trump’s proposal for a US takeover of Gaza.

Egypt and Jordan have both signed peace deals with Israel. But relations have not always been cordial, and the destruction of Gaza has exacerbated these tensions. Trump’s latest comments, as well as those from the Israeli right, will only worsen the situation.

Relations with Saudi Arabia

During Trump’s first term, his administration secured a significant diplomatic victory by brokering the Abraham accords. The accords, all of which were signed in the latter half of 2020, normalised relations between Israel and the United Arab Emirates, Bahrain and later Morocco.

The signatories to the Abraham accords have been conspicuously quiet about Israel’s actions in Gaza. And it remains to be seen what effect Trump’s proposed Gaza takeover could have on relations between these states. The United Arab Emirates, Bahrain and Morocco have, at the time of writing, not yet announced their response.

Saudi Arabia, on the other hand, has remained the jewel in the diplomatic crown seemingly out of reach both for the Trump administration and that of his successor, Joe Biden. The kingdom occupies a prominent place within the Arab and Muslim world by virtue of its custodianship of the two holy mosques of Mecca and Medina.

Crown Prince Mohammed bin Salman, Saudi Arabia’s de facto ruler, has taken an increasingly hard line on normalisation with Israel in recent months, suggesting that such a deal would not be possible without the establishment of a Palestinian state.

In a statement released on February 5, the Saudi foreign ministry said it rejected “any attempts to displace the Palestinians from their land”. And bin Salman has affirmed the kingdom’s position that it would not establish ties with Israel without a Palestinian state.

During his press conference, Trump suggested that Saudi Arabia was not demanding a Palestinian homeland. But statements from Saudi officials since then contradict this narrative and point to increasingly divergent views on Gaza – and indeed, the future of Palestine – between Riyadh and Washington.

Fundamentally, Trump’s remarks are the latest in a long line of bombastic diplomatic flourishes that appear designed to provoke as much as to enact policy. But in this case, even rhetorical provocations will have consequences for already strained relations between Israel and the wider Arab world.

Simon Mabon receives funding from the Carnegie Corporation of New York. He is a Senior Research Fellow at the Foreign Policy Centre in London.

– ref. What Trump’s proposal to ‘take over’ Gaza could mean for Arab-Israeli relations – https://theconversation.com/what-trumps-proposal-to-take-over-gaza-could-mean-for-arab-israeli-relations-249184

MIL OSI – Global Reports –

February 6, 2025
MIL-OSI Global: England plans to make academies follow the national curriculum – but it’s been getting more prescriptive for years

Source: The Conversation – UK – By Dominic Wyse, Professor of Early Childhood and Primary Education, UCL

Juice Flair/Shutterstock

A national curriculum sets out what state school pupils should be taught during their time at school. But in England, the national curriculum currently applies to only around 44% of children – those in schools run by their local authority.

The remaining children, including 81.7% of secondary school pupils, are at academies. These schools, the result of a policy to address disadvantage in education, are free to set their own curriculum. Independent, fee-paying schools have never had to follow the national curriculum.

The government’s children’s wellbeing and schools bill proposes that academy schools would, for the first time, be required to follow the national curriculum.

This proposal, along with others set to reduce the autonomy of academies, has raised some debate. Academies and their associated freedoms were a flagship policy of the previous Conservative government. Laura Trott, shadow education secretary, has said: “The Bill seeks to turn its back on Labour’s history and take back those academy freedoms on curriculum, on pay and on behaviour. You name it, they are reversing it — all the things that have done so much to improve our education system … And who will suffer? The poorest pupils in society.”

As well as considering whether all pupils should be taught the national curriculum, England is currently in the middle of a review of the content of the curriculum itself. This is an excellent opportunity to consider how England’s national curriculum can best serve pupils and improve their education. Much evidence suggests the current curriculum is too prescriptive.

One advantage of not having to follow the national curriculum is that schools can develop a programme of teaching, and how they go about teaching it, that is more closely aligned with the particular context of their school community and pupils.

Teachers value having autonomy over what they teach.
LightField Studios/Shutterstock

Also, for many teachers, the power to control their curriculum is an appealing prospect that links with their professional identity (although evidence has shown that in some multi-academy trusts – groups of academy schools run together – teachers actually have less autonomy).

Evidence from my forthcoming book with colleague Yana Manyukhina on how children experience the national curriculum shows that some schools who do not have to follow the national curriculum make use of it anyway. However, the academy school in our research project was also able and confident to innovate with their school curriculum by giving children more choices over their learning – in ways that the children we interviewed said highly motivated them.

Government control

A national curriculum was first established in England in 1988. Since then, there have been multiple significant revisions. Sometimes these revisions have been quite radical, overturning the ideas and details of previous national curricula.

The current national curriculum was instituted in 2014. It was developed under the Conservative-Liberal Democrat coalition government and during Michael Gove’s time as secretary of state for education.

One of the claims in favour of a country or region having a national curriculum is that this ensures that all pupils in a country have an entitlement to learn the same knowledge, skills and other aspects, such as values. The idea is that this will support educational standards by ensuring that all pupils have access to a baseline of knowledge.

But national curricula often give power to governments to control what happens in lessons in schools. This limits what teachers can make professional decisions about, and provides less scope for teachers to build their teaching on the interests of the pupils that they teach.

Before 1988, primary school teachers had full control over the curriculum and the teaching methods that they used. England’s first national curricula specified the knowledge to be taught but did not stray into the methods that teachers should use in order to teach.

For more than two decades, my colleagues and I have tracked the intensification of control, by successive governments in England, over not only the content of the subject of English in primary schools but also the way it is taught. For instance, from 2021 guidance was added to the national curriculum prescribing that the teaching of reading must be taught through the one approach of “synthetic phonics”.

Government actions are often to some degree based on political ideology. If they have the power to control the curriculum, their ideology can sometimes result in programmes of study that are not sufficiently based on what research shows is likely to be effective.

For instance, my research shows that the heavy emphasis on the teaching of formal grammatical terms in the current curriculum is not based on evidence as to its value in teaching writing, suggesting that it is rather the result of ideological commitment.

Irrespective of whether ultimately all schools are required to follow the national curriculum, the new curriculum should be much more evidence-based than the current one.

A national curriculum can be a useful framework for schools. But it should not restrict subjects and teaching methods that may be of great benefit to children. I would argue that all schools should be given more freedom over the curriculum, and particularly over teaching methods. The government should publish a recommended curriculum that, crucially, schools are not bound in law to follow.

Dominic Wyse receives funding for the research centre The Helen Hamlyn Centre for Pedagogy (HHCP) from The Helen Hamlyn Trust. The Children’s Agency and the National Curriculum research project was funded by The Leverhulme Trust. He is currently advising on the primary curriculum for the National Council for Curriculum and Assessment in Ireland. He is advising the Welsh Government as part of his membership of the expert group on literacy.

– ref. England plans to make academies follow the national curriculum – but it’s been getting more prescriptive for years – https://theconversation.com/england-plans-to-make-academies-follow-the-national-curriculum-but-its-been-getting-more-prescriptive-for-years-248508

MIL OSI – Global Reports –

February 6, 2025
MIL-OSI United Kingdom: Innovating to detect deepfakes and protect the public

Source: United Kingdom – Executive Government & Departments

Case study

Innovating to detect deepfakes and protect the public

Collaborating to find ways to mitigate the growing threat from AI-generated deepfakes is an urgent national priority.

The rise in deepfakes generated by artificial intelligence (AI) has been scarily rapid – a projected eight million will be shared in 2025, up from 500,000 in 2023. This sheer scale combined with greater sophistication and convincingness means finding ways to quickly detect and mitigate this ever-growing threat is an increasingly urgent priority.

Concerns over criminal manipulation of digital text, images and video are not new, but the proliferation in recent months of generative AI tools that enable anyone, anywhere to quickly, easily and cheaply create deepfake images has significantly changed the game.

As deepfakes threaten to hit the mainstream across a range of harmful activity, from online child sexual exploitation and abuse (CSEA) to fraud and election interference, there is a corresponding drive to develop the tools and methods needed to tackle them at the required scale and pace.

In its role as an innovative enabler connecting frontline government and law enforcement with cutting-edge technology from industry, the Accelerated Capability Environment (ACE) is at the heart of this ramp-up in activity designed to find practical solutions to arguably the greatest challenge of the online age. And 2024 was a year where the marriage of cutting-edge technology, collaboration and fresh thinking enabled significant strides forward.

Circular collaboration

Clear results that accelerate crucial deepfake detection in a range of domains have been made across a series of focused commissions carried out by ACE. And just as importantly, learnings and practical experiences developed in one commission have been shared with others to pass on deeper knowledge and skills.

The biggest event in this space was the Deepfake Detection Challenge. Initiated by the Home Office, the Department for Science, Innovation and Technology, ACE and the renowned Alan Turing Institute, this visionary idea brought together academic, industry and government experts to develop innovative and practical solutions focused on detecting fake media.

More than 150 people attended the initial briefing where five challenge statements pushing the boundaries of current capabilities were launched. The critical importance of collaboration and sharing of skills and knowledge was a recurring theme, and major tech companies including Microsoft and Amazon Web Services (AWS) provided practical support.

Eight weeks were spent developing innovative ideas and solutions on a specially created platform, which hosted approximately two million assets made up of both real and synthetic data for training and testing. Following this, 17 submissions were received, and six teams from our community – Frazer-Nash Consulting, IBM, Oxford Wave Research, Open Origins, Safe and Sound from the University of Southampton, and Naimuri – were selected to demonstrate their ideas in front of more than 200 stakeholders.

Solutions from Frazer-Nash, Oxford Wave, the University of Southampton and Naimuri, a combination of existing products that have been identified as potentially showing operational value as well as early-stage proof of concepts being developed against specific use cases including CSEA, disinformation and audio, are now going through benchmark testing and user trials.

Key insights from the initial challenge work, alongside the clear success in accelerating the state-of-the art in deepfake detection possibilities, included that curated data was critical to be able to make as much progress as possible in the time and conditions available, and that creating a dataset that was more representative of real-world operational scenarios would have been helpful.

Using better data to detect child abuse deepfakes

When another significant commission to further deepfake detection was brought to ACE by the government’s Defence Science and Technology Laboratory (DSTL) and the Office of the Chief Scientific Adviser (OCSA), data development was a top priority.

To mature the EVITA (Evaluating video, text and audio) AI content detection tool the focus shifted away from volume.

As part of developing next-step recommendations, ACE leveraged its expertise from the Deepfake Detection Challenge to create a reusable ‘gold standard’ dataset. This dataset was designed to effectively test detection models, including those targeting child sexual abuse material (CSAM).

By combining this ‘gold standard’ dataset with ACE’s extensive domain and community expertise – drawing on insights from Naimuri and Bays Consulting – ACE delivered rapid insights into the maturation of EVITA through comprehensive and diverse testing.

This work not only enabled ACE to deliver the requested next-step recommendations for the EVITA programme but also led to the development of a repeatable testing and evaluation approach for deepfake detection. This approach enhances the ability to interpret and understand the results generated by detection tools.

Alongside this, another piece of work was taking place exploring how AI can be used to detect deepfakes in policing. The biggest challenge is in digital forensics where, the ACE team heard, officers can be faced with up to a million child abuse images on a single seized phone.

This commission, working with community members Blueprint, Camera Forensics and TRMG, seeks to understand where deepfake detection tooling fits into the investigation stage to add most value. Next steps in this particular project are ‘making this real’ – working towards commissioning a proof of concept or trial of an existing capability.

And so the learning is becoming circular once more as the next stage of the Deepfake Detection Challenge progresses. This will push further than any work in this field so far, focusing on making the initial solutions presented more user-centric and deeply relevant to practitioners in the field.

Deepfakes are both a growing menace and an evolving threat, but bridging the gap between models and reality will be critical to tackling them at scale and at pace. ACE, its customers and suppliers remain laser focused on this evolution from the theoretical to the practical. The potential of innovation combined with collaboration has already proved to be a potent force in this area, the challenge – in all ways – is maximising the potential of what comes next.

Updates to this page

Published 5 February 2025

MIL OSI United Kingdom –

February 6, 2025
MIL-OSI United Kingdom: Press release: PM call with Prime Minister Trudeau of Canada: 5 February 2025
Source: United Kingdom – Prime Minister’s Office 10 Downing Street

The Prime Minister spoke to the Prime Minister of Canada Justin Trudeau this afternoon.
The Prime Minister spoke to the Prime Minister of Canada Justin Trudeau this afternoon.

The leaders began by reflecting on the close and historic relationship between the UK and Canada. From global security to clean energy and growth, they agreed on the importance of shared values between the two nations.

Discussing recent global events, the Prime Minister said he welcomed an international conversation on the importance of trade and collaboration between allies and partners. The Prime Minister also paid tribute to Prime Minister Trudeau’s leadership, including his focus on stemming the deadly drug trade across Canada’s borders.

The leaders also discussed the strong trading relationship between the UK and Canada, worth £26 billion, and how together both countries could go further to support growth and deliver for the hardworking Canadian and British people.

As the third-year anniversary of Russia’s full-scale invasion of Ukraine approaches, both leaders underlined their commitment to ensuring Ukraine is in the strongest possible position.

On Syria, they agreed on the necessity of a political transition process leading to an inclusive, non-sectarian and representative government.

They looked forward to speaking soon.

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Published 5 February 2025
MIL OSI United Kingdom –
February 6, 2025
MIL-OSI: Bpce: Appointments of Mohamed Kallala and Philippe Setbon to the Executive Management Committee of BPCE
Source: GlobeNewswire (MIL-OSI)

Appointments of Mohamed Kallala and Philippe Setbon to the Executive Management Committee of BPCE

Paris, February 5, 2025

Mohamed Kallala, Chief Executive Officer of Natixis, in charge of Corporate & Investment Banking, and Philippe Setbon, Deputy Chief Executive Officer of Natixis, in charge of Asset & Wealth Management, are joining the Executive Management Committee of BPCE, following their direct reporting to Nicolas Namias, CEO of BPCE, since January 1, 2025. The Executive Management Committee of BPCE now has a total of twelve members.

Biography of Mohamed Kallala

Mohamed Kallala started his career in 1993 as an ALM trader for BNP Paribas before being appointed Head of Mergers & Acquisitions at Crédit Agricole Indosuez in 1995. In 2000, he founded Global Equities Corporate Finance. In 2005, he joined Natixis and became Head of Real Estate Specialist Advisory. In 2010, Mohamed was appointed Head of Real Estate Finance before becoming Global Head of Investment Banking in 2016. In early 2020, Mohamed Kallala became Global Head of Natixis Corporate & Investment Banking’s Global Markets activity, before becoming its Global Co-Head later the same year. In 2023, he was appointed Global Head of Natixis Corporate & Investment Banking businesses. In January 2025, he was appointed Chief Executive Officer of Natixis, in charge of Corporate & Investment Banking.

Biography of Philippe Setbon

Philippe Setbon began his career in 1990 as a financial analyst with Barclays Bank in Paris, before working for Groupe Azur-GMF for 10 years as Head of Asset Management. He then joined Generali Group in 2004 where he held a succession of senior roles including CEO of Generali Investments France, CEO of Generali Investments Europe Sgr and Chief Investment Officer for the whole Generali Group. He joined Groupama in 2013 as CEO of Groupama Asset Management. In 2019, he became CEO of Ostrum Asset Management, then CEO of Natixis Investment Managers in 2023. Philippe Setbon has been President of the French Asset Management Association (AFG) since June 2022. In January 2025, Philippe Setbon was appointed Deputy Chief Executive Officer of Natixis, in charge of Asset & Wealth Management.

For Nicolas Namias, CEO of BPCE: “I would like to welcome Mohamed Kallala and Philippe Setbon to the Executive Management Committee, recognizing their professionalism and the excellent results they have achieved for the two global businesses of Groupe BPCE. This also demonstrates our commitment to the continued development of Natixis CIB and Natixis IM in service of their direct clients, as well as those of the Banques Populaires and Caisses d’Epargne. This move further enriches our Executive Management Committee by providing a balanced representation of each of the Group’s businesses, including retail banking and insurance as well as those with a global dimension, and our major functions. Now comprising 12 members, the Executive Management Committee illustrates the richness of career paths within the group, blending expertise and experience, and our ability to attract and nurture talent.”

© Photo Credits :
Mohamed Kallala : Fabrice Vallon
Phlippe Setbon : Noura Felfel

About Groupe BPCE

Groupe BPCE is the second-largest banking group in France and the fourth in Europe. Through its 100,000 staff, the group serves 35 million customers – individuals, professionals, companies, investors and local government bodies – around the world. It operates in the retail banking and insurance fields in France via its two major networks, Banque Populaire and Caisse d’Epargne, along with Banque Palatine and Oney. It also pursues its activities worldwide with the asset & wealth management services provided by Natixis Investment Managers and the wholesale banking expertise of Natixis Corporate & Investment Banking. The Group’s financial strength is recognized by four credit rating agencies with the following senior preferred LT ratings: Moody’s (A1, stable outlook), Standard & Poor’s (A+, stable outlook), Fitch (A+, stable outlook) and R&I (A+, stable outlook).

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- 20250205_PR_GroupeBPCE_Appointments Mohamed Kallala and Philippe Setbon to the EMC of BPCE
The MIL Network –
February 6, 2025
MIL-OSI United Kingdom: Martyn Oliver’s speech at the Sixth Form Colleges Association

Source: United Kingdom – Government Statements

Sir Martyn Oliver, Ofsted’s Chief Inspector, spoke at the Sixth Form Colleges Association (SFCA) 2025 Winter Conference/AGM in London.

Thank you, it is a great honour to be here. I was actually a head of sixth form for quite a few years in my career. It is one of the best things I ever did.

So, thank you so much for the invitation to speak to you today and my real sincere thanks to Bill for the very many numerous meetings that we’ve had over the past year – it really helped me significantly Bill.

As you may know, on Monday we launched a consultation on our renewed education inspection framework. This is what we’ll use to inspect schools, early years providers, initial teacher education, and of course further education and skills providers including colleges like all of you.

Now, hopefully some of you, all of you I hope, have already had a look at the proposals, or seen them reported in the media. Some of you may even have already taken part in the consultation. If so, thank you! But if you haven’t yet, please please do.

We have designed what we believe will be a really strong new framework that will better inform parents and families, drive higher standards for children and learners, and reduce pressure on leaders and professionals like you.

But we are sure there are things we can do to improve. So, take a look, take part, and let us know what you think. Maybe there’s a way we can better tailor things for you? Maybe there’s some language that could be clearer? Maybe there’s a way we can do more to highlight your strengths and help you improve?

Whatever it is, please don’t miss the chance to make a real difference.

Aims of the new framework

If you haven’t had a chance to look yet, let me tell you a little bit about what we are proposing.

We have designed our new approach very carefully. We have built on everything we heard in the Big Listen. We have worked closely with experts, parent groups, unions, professionals, and sector representatives. We have done all that with several aims in mind.

First of all, we want to give parents and families better, more nuanced, and more helpful information about the places educating their children. We want reports that make sense to them, that give them the information they want and need, and that fairly represent what it is or would be like for their children at a provider.

Secondly, we want to put a strong focus on inclusion. On the most disadvantaged and vulnerable. We are proposing a specific evaluation area for inclusion. But it will also be a thread running through everything else we look at. Because I believe that if you get it right for the most disadvantaged, you get it right for everyone. I don’t think there’s a provider out there getting it right for them, and wrong for everyone else.

And thirdly, we want to make a better system for all of you. The people making a difference through educating young people. We will of course rightly continue to expect high standards for all, but we know we can do that in a better way for those being inspected.

Improved reporting

But let me start with our new report cards. As I said, we know from the Big Listen that parents wanted a more nuanced picture. They want to know what a provider is doing well, and what it could improve upon. They want an honest and fair appraisal of what it’s like for children at the provider.

I think it’s fair to say, our old approach wasn’t doing that. Overall effectiveness judgements were too broad brush. They weren’t helpful. They weren’t doing you justice.

So here’s what we’re proposing:

We’ll be grading providers against a range of evaluation areas. Here you can see the areas for a 6th form college. We expect most providers to look something like this one – with most areas in the ‘secure’ column and perhaps a few in the ‘strong’ column. If we have any concerns, they would appear under ‘attention needed.’

Then we have two grades at either end. We have ‘causing concern’ when serious improvement, and possibly intervention, is required. And we have ‘exemplary’ for the truly remarkable, sector-leading practice. The sort of things that we think others could learn from and want to highlight.

We know that not everyone will be happy with idea of grades and this approach. But our top priority always has to be children and learners, and their families. Clarity and accountability for providers is not a nice to have for them, it’s a must have. Parents told us that’s what they wanted, and that’s what we’re delivering.

But through grading specific areas, not providers as a whole, our reports, we hope, will be fairer.

Through the secure grade, a high standard on its own, and then through the strong grade, our reports will really show off what providers do best.

Through the attention needed grade we hope that will help guide leaders as to what you need to work on. And we will return sooner to check on progress.

Through the causing concern grade, we will continue to call out unacceptably low standards.

And through the exemplary grade, we will share the very best work in the sector, and drive standards ever higher.

So, anyone reading the report will be able to get this sort of instant snapshot of a provider. What they’re doing well, and where they can do better. But they will also be able to click on to any of the areas and if they want to know more they can see the detail of what we found when we inspected.

Now, congratulations because 6th form colleges have always been one of the strongest types of further education, with high grades and real added value for the young people that you educate. I’m sure that may well continue, but this way it will be possible to see in more detail what it is that you are doing well. A richer, a fuller, and a more representative picture.

Inclusion

As you will undoubtedly have heard, we now have inclusion as one of the evaluation areas. But if, after this, you take a look at the detail of what we’re proposing, you’ll also see that it is a theme throughout the other evaluation areas too.

I make no apologies for that. Inclusion is important to me, but we know through the Big Listen, it’s important to children too. So we want to make sure providers are considerate of the most vulnerable and disadvantaged in everything that they do.

I’m really interested in your views on what we’re proposing here. Many of you are already doing a great deal to help disadvantaged and young people. I know many 6th form colleges often do more than their neighbours to educate children with SEND, children from poorer backgrounds, children with lower grades, and children with other disadvantages.

But of course, this is incredibly complicated, and only gets more so when trying to define what it is to be disadvantaged or vulnerable for young people once they turn 16. So, once again, your input will be really valuable to Lee and I.

And of course, we need to be really clear on what we mean by inclusion. We have a working definition in the consultation as well, but we want to consider all views so it can be improved.

So please do take part in this section of the consultation if you can. It’s something we absolutely have to get right, and with your help we will.

Improved system for you

But as well as improving the way that we report, and making sure we never lose sight of the most vulnerable, we also want to make sure we reduce the pressure on you. We want to let you focus on doing what’s best for the young people you educate.

So, we will use new toolkits that are bespoke for the different types of provision. There will be a toolkit for further education and skills providers like you. And then different ones for schools, independent schools, early years, and initial teacher education.

Obviously, there will be some overlap. Some of what you do is pretty similar to what schools with 6th forms do. And where appropriate we will use the same standards to inspect you both. But there are also differences, which we want to make sure we recognise and account for. Leadership of a school educating children from 11 to 18 is obviously different to a college. So, we want to be fair and balanced, while recognising the real differences that do exist.

But no matter whether you’re a 6th form college or a nursery, or anything in between, we will still do what we can to reduce pressure and complexity for you.

Here’s an example of one of the proposed toolkits that we’ll be using to inspect you.

There’s a table like this for each of the evaluation areas that you saw on the previous slide. Within each area there are themes that say 6th form evaluation area curriculum and then you can see the theme is possibly attention needed, secure and strong. There is a description of what provision would look like at each of the grade levels too. You can see those as the standards on this slide.

These will be published in full. We want to be fully transparent, and will be publishing our inspector training materials too. But we also want you to be able to use the toolkit when we inspect, and also in between inspections.

And we have based these toolkits on the legal requirements and professional standards that you are already working to. We don’t want you doing anything different just ‘for Ofsted’.

We’ll also be taking more account of your context, the circumstances in which you’re working. We of course can’t excuse unacceptably low standards, but we do want to do more to recognise the value you’re adding, the difference that you’re making.

So our inspections will be different, but we also want them to feel different. We want to be more collaborative. We want to be more supportive. We want inspection based around professional dialogue. We’ll have a discussion, starting with the secure grade. We’ll ask you things like, “where do you think you are?”, and, “what evidence can you show us?”, “what are you really proud of”, and “what are you currently working on?”

Every provider will also be able to select a nominee. A senior staff member who will work with us closely throughout the process and be fully involved and informed.

And we’re taking other steps like dropping deep dives as the only main method for gathering evidence, only having a single type of inspection so you know exactly what inspection to expect, developing inspection teams with experience of working in each remit, and introducing more iterative monitoring visits to support rapid improvement.

We hope these will combine with steps that we’ve already taken to make life a little easier for you during inspections, and when you’re expecting one.

Please take part

So that’s a whirlwind tour of what we’re proposing. But please please do take part in the consultation and take a look at all of it in more detail. You can get straight to the consultation through the QR code on the slide there.

As I said, we have developed it really carefully and deliberately over many months, and with lots of external input. But it is also not set in stone. I didn’t come here today just to tell you ‘this is what is happening’. I came to ask for your help.

I want your scrutiny, your expertise, your consideration. So please let us know if you think something could be better, or clearer, or fairer. And if you think something’s great, definitely tell us that too! I’d be delighted, Bill, to receive a response from the Sixth Form Colleges Association too.

We’re consulting until 28 April and we’ll be testing our approach during that time too. Our inspectors will complete full training on the new finalised approach before they start inspecting colleges like yours in November. That gives us the whole of the period from the consultation closing and all of September and all of October to train you and to train our staff. This will be an unprecedented amount of training that takes place if this consultation stands.

With your help and input, we can build the best system for parents and families, for you, and most importantly for children, young people, and all learners.

Updates to this page

Published 5 February 2025

MIL OSI United Kingdom –

February 6, 2025
MIL-OSI United Kingdom: PM call with Prime Minister Trudeau of Canada: 5 February 2025
Source: United Kingdom – Government Statements

The Prime Minister spoke to the Prime Minister of Canada Justin Trudeau this afternoon.
The Prime Minister spoke to the Prime Minister of Canada Justin Trudeau this afternoon.

The leaders began by reflecting on the close and historic relationship between the UK and Canada. From global security to clean energy and growth, they agreed on the importance of shared values between the two nations.

Discussing recent global events, the Prime Minister said he welcomed an international conversation on the importance of trade and collaboration between allies and partners. The Prime Minister also paid tribute to Prime Minister Trudeau’s leadership, including his focus on stemming the deadly drug trade across Canada’s borders.

The leaders also discussed the strong trading relationship between the UK and Canada, worth £26 billion, and how together both countries could go further to support growth and deliver for the hardworking Canadian and British people.

As the third-year anniversary of Russia’s full-scale invasion of Ukraine approaches, both leaders underlined their commitment to ensuring Ukraine is in the strongest possible position.

On Syria, they agreed on the necessity of a political transition process leading to an inclusive, non-sectarian and representative government.

They looked forward to speaking soon.

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Updates to this page

Published 5 February 2025
MIL OSI United Kingdom –
February 6, 2025
MIL-OSI Security: Former Soldier Sentenced to Over Seven Years in Prison for Sexual Abuse of a Child on Joint Base Lewis-McChord

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

Defendant previously investigated in the Army and prosecuted in State Court for sexual assault crimes

Tacoma – A former U.S. Army soldier was sentenced today in U.S. District Court in Tacoma to 87 months in prison for abusive sexual contact with a child, announced U.S. Attorney Tessa M. Gorman. Cameron James Taylor, 49, of Seattle, pleaded guilty in May 2024 and has been in custody since his guilty plea. At today’s sentencing hearing Chief U.S. District Judge David G. Estudillo noted the conduct in this case may cause the victim lifetime torment. The victim “is a strong individual” and “shows courage to move on” Chief Judge Estudillo said.

“This horrific conduct cannot go unpunished. Our work to protect children on our military bases is a priority in the Western District of Washington,” said U.S. Attorney Gorman. “Mr. Taylor sexually assaulted a child who was just 5 years old. He then pressured the child to hide the conduct when questioned by other adults. I commend the strength of the victim in this case.”

According to records filed in the case, Taylor left the Army in 2016 with an “Other than Honorable” discharge after he was investigated for sexual assault of an unconscious female in Germany, and for assaulting soldiers who went to arrest him. Taylor resigned in lieu of Court Martial.

Once back in the U.S., Taylor was convicted of the 2019 sexual assault of a 5-year-old neighbor child. Taylor forced the child to massage him and reach into his pants. In 2022, Taylor was sentenced in King County Superior Court to 18 months in prison.

During the investigation related to the neighbor child, other children who had been in Taylor’s care were interviewed. Taylor had coached a child, who was now a teen about hiding his sexual assaults. Ultimately, the child disclosed to a relative that in 2012, while stationed on JBLM, Taylor locked the then 5- or 6-year-old in a closet and sexually assaulted the child.

On the eve of trial, Taylor pleaded guilty.

In asking for the 8-year sentence prosecutors wrote to the court, “Taylor’s crimes reveal a man who lacks empathy and who prioritized his own pleasure over others’ pain. Taylor is also no stranger to the justice system; this is his third criminal sex offense. The government hopes that a 96-month sentence, coupled with lifetime supervised release, will prevent Taylor from reoffending again.”

Taylor is required to register as a sex offender following his prison term. Chief Judge Estudillo ordered that he be on supervised release for ten years following prison.

The case was investigated by U.S. Army Criminal Investigations (CID), the King County Sheriff’s Office, and the FBI.

The case was prosecuted by Assistant United States Attorneys Hillary K. Stuart and Erika J. Evans.

MIL Security OSI –

February 6, 2025

MIL-OSI: Bpce: Groupe BPCE Results Q4-24 & 2024

Source: GlobeNewswire (MIL-OSI)

Paris, February 5, 2025

STRONG PERFORMANCES IN 2024

• Excellent performance in Q4-24 •
• Net income (Group share) of €3.5bn in 2024, strong growth of +26% •
• VISION 2030: dynamic implementation of the strategic project •

Q4-24: net banking income at €6bn, up +11% YoY; very good performance achieved by retail banking and the global businesses; net income of €913m, +140% YoY
2024: net banking income of €23.3bn, 5% growth YoY driven by all the business lines; gross operating income up by a strong 18% notably thanks to good cost control; reported net income²of €3.5bn, up by 26% YoY

Very high levels of solvency and liquidity with a CET1 ratio of 15.6%³ and a LCR of 142%⁴ at end-2024

RETAIL BANKING & INSURANCE Sharp 14% growth in revenues in Q4-24 and 4% in 2024 driven in particular by the confirmed rebound in net interest margins and commissions. The Banque Populaire and Caisse d’Epargne retail banking networks enjoyed sustained growth in their customer bases with the addition of 846,000 new clients⁶in 2024

Local & regional financing: €84bn of funding for our clients of individual, professional, corporate, and institutional clients; 1% year-on-year growth in loan outstandings, rising to a total of €724bn at end-December 2024
Deposits & savings⁷up by €5bn year-on-year, reaching a total of €681bn at end-December 2024
Insurance: gross inflows⁸ of €14.9bn in life insurance in 2024. Premiums up 15% in 2024 YoY. The equipment rate⁹for P&C and Personal Protection insurance stood at ~35% at end-December 2024

Financial Solutions & Expertise: net banking income remained stable in Q4-24 and rose by 2% in full-year 2024 vs. a high basis of comparison in 2023. Good performance reported by the Leasing and Consumer Credit activities
Digital & Payments: +5% growth in the number of card transactions at end-December 2024 YoY. Oney net banking income up 8% in full-year 2024

GLOBAL FINANCIAL SERVICES Strong revenue growth, +8% in Q4-24 and full-year 2024; very dynamic business development in Corporate & Investment Banking, net banking income up 5% in Q4-24 year-on-year; very good performance achieved by Asset Management with net banking income up 11% in Q4-24 year-on-year

Corporate & Investment Banking: net banking income of €1.1bn in Q4-24; +19% growth in revenues in Q4-24 YoY for Global Markets, driven by the Fixed-income and Equity segments; net banking income up 2% for Global Finance, driven in particular by Trade Finance activities, and up by 6% for Investment Banking activities in Q4-24
Asset & Wealth Management: Natixis IM’s assets under management up 13% YtD, reaching an all-time high of €1,317bn at end-December 2024; very high net fund inflows of €40bn in full-year 2024, particularly from Fixed-Income expertise; net banking income of €968m in Q4-24, reflecting strong growth of 11% YoY.

Expenses remained stable year-on-year in 2024 and good improvement in the cost/income by 3.5pp

Prudent provisioning policy: cost of risk of €2.1bn in 2024, i.e. 24bps, standing below the announced guidance level; €596 million in Q4-24, down 20% year-on-year

Financial strength: CET1 ratio of 15.6%³at end-December 2024; liquidity reserves of €302bn

VISION 2030 strategic project: fast-paced and dynamic implementation

April 2024: announcement of the project to acquire SGEF, making Groupe BPCE the European leader in equipment leasing; completion of the transaction scheduled for Q1-25.
June 2024: plan to create France’s No. 1 payment processor in partnership with BNP Paribas with a view to becoming one of the top 3 players in Europe.
June 2024: commercial partnerships with two leaders in their respective markets: Leroy Merlin and Verisure
January 2025: announcement of plan to create Europe’s leading asset manager in a joint venture with Generali.
Plans to create a shared technology platform for retail banking activities

¹ See the notes on methodology annexed to this press release ²Group share ³ Ratio estimated at end-December 2024 integrating pro forma the coming impact of SGEF and Nagelmackers acquisitions ⁴Average end-of month LCRs in Q4-24 ⁵ Estimated at end-December 2024 ⁶ 196,100 new active clients over the year ⁷ On-balance sheet savings & deposits within the scope of the Retail Banking & Insurance business unit ⁸ Excluding reinsurance treaty with CNP Assurance ⁹ Scope of the individual clients in the BP and CE retail banking networks

Nicolas Namias, Chairman of the Management Board of BPCE, said: “2024 marked the return of strong performance across all our business lines. Groupe BPCE saw its earnings grow by 26% over the year as a whole and by a total of 140% in the fourth quarter of 2024.

Banques Populaires and Caisses d’Epargne benefited from the confirmed rebound in their net interest margin along with an extremely buoyant level of commercial activity, illustrated by the arrival of 846,000 new clients in 2024. All the business lines serving the retail banking networks – Insurance, Payments, Financial Solutions & Expertise – generated growth both in full-year 2024 and in the 4^thquarter of the year. It also proved to be a remarkable quarter and full-year period for the global business lines managed by Natixis CIB and Natixis IM with, in particular, 19% revenue growth in our capital markets activities in the fourth quarter, and a record-breaking 40 billion euros in net inflows for our asset management activities in the course of the year.

These results testify to the dynamic implementation of our VISION 2030 strategic project. In the space of a year, we announced the planned acquisition of SGEF, making the Group the front-ranking European equipment leasing specialist, an initiative due to be completed early this year; the creation, with BNP Paribas, of the French leader in payment processing, with a view to becoming one of the top 3 players in Europe; plans to create a champion in asset management with Generali that would be No.1 in Europe in terms of revenues and one of the top 10 asset management specialists worldwide. Today, we announce our ambition to create a common technological platform for the Banques Populaires and Caisses d’Epargne by setting up a joint information system. Designed to further enhance the Group’s performance, this project sets out to optimize the service offered to our 35 million clients and to improve the day-to-day lives of our employees and, in the process, support the development of retail banking in France. These projects give concrete expression to our determination to pursue well-balanced development across our three priority growth areas: France, Europe, and the rest of the world.

These extremely exciting prospects for the months ahead will be driven by our staff of employees, who this year demonstrated their tremendous mobilization and enthusiasm during the Olympic & Paralympic Games Paris 2024. We gave expression to our promise to share the Games with as many people as possible in every territorial region of France. This event enabled us to strengthen our ties with our clients both in regional France and around the world, and we will continue to foster these relationships by contributing to the sustainable development of the economies in which we do business, in line with our cooperative values.”

The quarterly financial statements of Groupe BPCE for the period ended December 31, 2024, approved by the Management Board on February 3, 2025, were verified and reviewed by the Supervisory Board, at a meeting chaired by Eric Fougère on February 5, 2025.

In this document, 2023 figures have been restated on a pro-forma basis (see annex for the reconciliation of reported data to pro-forma data).

Groupe BPCE

€m¹	Q4-24	Q4-23	% Change	2024	2023	% Change
Net banking income	6,046	5,462	11%	23,317	22,198	5%
Operating expenses	(4,184)	(4,129)	1%	(16,384)	(16,328)	0%
Gross operating income	1,862	1,332	40%	6,933	5,870	18%
Cost of risk	(596)	(744)	(20)%	(2,061)	(1,731)	19%
Income before tax	1,262	537	135%	4,956	4,182	19%
Income tax	(326)	(159)	106%	(1,357)	(1,340)	1%
Net income – Group share	913	381	140%	3,520	2,804	26%
Exceptional items	(64)	(100)	(35)%	(155)	(122)	28%
Underlying²net income – Group share	977	481	103%	3,675	2,925	26%
Underlying cost to income ratio³	67.8%	74.6%	(6.8)pp	69.4%	72.9%	(3.5)pp

¹ Reported figures as far as “Net income (Group share)” ² “Underlying” means exclusive of exceptional items ³ The underlying cost/income ratio of Groupe BPCE is calculated on the basis of net banking income and operating expenses excluding exceptional items. The calculations are detailed in the annex on pages 18 and 24.

1. Groupe BPCE

Unless specified to the contrary, the financial data and related comments refer to the reported results of the Group and
business lines; changes express differences between Q4-24 and Q4-23 and between full-year 2024 and full-year 2023.

Groupe BPCE’s net banking income rose by 11% to reach 6,046 million euros in Q4-24 thanks to strong commercial activity in all business lines. At the end of December 2024, it stood at 23,317 million euros, up 5%.

Revenues from the Retail Banking & Insurance business unit (RB&I) rose 14% in Q4-24 to 4,064 million euros and stood at 15,397 million euros in full-year 2024, representing growth of 4%. Banques Populaires and Caisses d’Epargne put up a strong commercial performance, attracting more than 846,000 new clients¹ across all markets since the beginning of the year.

Revenues in the Financial Solutions & Expertise business unit, stable in Q4-24 and up 2% in full-year 2024, were driven in particular by the leasing and consumer credit businesses. The Insurance business unit benefited from strong business momentum in life insurance with gross new inflows² of 14.9 billion euros. Business was buoyant for the Digital & Payments business unit with renewed momentum for Oney.

Revenues from the Global Financial Services (GFS) business unit were up 8% in Q4-24 and full-year 2024, reaching a total of 2,055 million euros and 7,947 million euros respectively. Corporate & Investment Banking revenues, buoyed up by strong commercial performance across all its business lines, came to 1,087 million euros in Q4-24, up 5%, and to 4,440 million euros in full-year 2024, up 7%. The net banking income generated by Asset & Wealth Management stood at 968 million euros in Q4-24, up 11%, and reached a total of 3,507 million euros in full-year 2024, up 10%. Assets under management, which rose to their highest level ever thanks to record-breaking fund inflows and positive market and currency effects, rose by 13% in the course of the year to reach 1,317 billion euros.

The net interest margin stood at 7.6 billion euros, up 4% year-on-year, while commission income, which reached 11 billion euros in full-year 2024, was up 7% year-on-year.

In full-year 2024, operating expenses remained stable at 16,384 million euros, rising 1% to 4,184 million euros in Q4-24, benefitting from positive jaws effects over the 2 periods.

The underlying cost/income ratio³ improved by 6.8pp in Q4-24 to 67.8%, and by 3.5pp in full-year 2024 to 69.4%

Gross operating income rose by 40% to 1,862 million euros in Q4-24, and by 18% to 6,933 million euros in full-year 2024.

Groupe BPCE’s cost of risk, which came to -2,061 million euros in 2024, increased by a total of 19% vs. a low basis of comparison in 2023. In Q4-24, it stood at -596 million euros, down 20%.

Performing loans are deemed to be rated ‘Stage 1’ or ‘Stage 2,’ while loans with proven risk are rated ‘Stage 3.’

¹ 196,100 new active clients in full-year 2024 ² Excluding the reinsurance treaty with CNP Assurances³ The underlying cost/income ratio of Groupe BPCE is calculated on the basis of net banking income and operating expenses excluding exceptional items. The calculations are detailed in the annex on page 24

For Groupe BPCE, the amount of provisions for performing loans rated ‘Stage 1’ or ‘Stage 2’ corresponds:

For the quarter, to a reversal of 31 million euros in Q4-24 vs. an allocation of 34 million euros in Q3-24 and vs. an allocation of 145 million euros in Q4-23,
For the 12-month period, a reversal of 177 million euros in 2024 vs. a reversal of 112 million euros in 2023.

Provisions for loan outstandings with proven risk, rated ‘Stage 3,’ correspond:

For the quarter, to an allocation of 627 million euros in Q4-24 vs. an allocation of 488 million euros in Q3-24 and vs. an allocation of 598 million euros in Q4-23,
For the 12-month period, an allocation of 2,238 million euros in 2024 vs. an allocation of 1,843 million euros in 2023.

In Q4-24, the cost of risk for Groupe BPCE stood at 28bps in terms of gross customer outstandings, down 7bps. This figure includes a reversal of 1bp on performing loans (vs. an allocation of 7bps in Q4-23) and an allocation on loan outstandings with proven risk of 29bps vs. an allocation of 28bps in Q4-23.
In Q4-24, the cost of risk remained stable for the Retail Banking & Insurance business unit at 30bps, including a 1bp provision for performing loans (vs. a 5bps allocation to provisions in Q4-23) and a 30bps allocation on loan outstandings with proven risk, as in Q4-23.
The cost of risk for the Corporate & Investment Banking business unit came to 55bps (vs. 37bps in Q4-23), including a 13bps reversal on performing loans (vs. a 16bps provision in Q4-23) and a 67bps provision on loans with proven risk (vs. a 21bps provision in Q4-23).

In 2024, Groupe BPCE’s cost of risk stood at 24bps of gross customer loan outstandings. This figure includes a 2bps reversal of provisions on performing loans (vs. a 1bp reversal in 2023) and a 26bps provision on loans with proven risk (vs. a 22bps provision in 2023).
The cost of risk was 24bps for the Retail Banking & Insurance business unit (21bps in 2023), including a 2bps reversal on performing loans (as in 2023) and a 26bps provision on loans with proven risk (vs. a 23bps provision in 2023).
The cost of risk for the Corporate & Investment Banking business unit came to 40bps (24bps in 2023), including a 6bps reversal on performing loans (vs. a 4bps reversal in 2023) and a 46bps provision on loans with proven risk (vs. a 28bps provision in 2023).

The ratio of non-performing loans to gross loan outstandings stood at 2.5% at December 31, 2024, up 0.1pp compared with end-December 2023.

Reported net income (Group share) came to 913 million euros in Q4-24, up 140%. In full-year 2024, it stood at 3,520 million euros, up 26%.

The impact of exceptional items on net income (Group share) was -64 million euros in Q4-24 vs. -100 million euros in Q4-23 and -155 million euros in full-year 2024 vs. -122 million euros in full-year 2023.

Underlying net income (Group share)¹ rose by 103% to stand at 977 million euros in Q4-24, and grew by 26% to 3,675 million euros in full-year 2024.

1 “Underlying” means exclusive of exceptional items

2. A Group mobilized to decarbonize the economy and committed to making impact accessible to all

Strong commitments in 2024

Climate commitments:

The Group has published new decarbonization ambitions for the 11¹ most highly emissive industrial sectors: Aluminum, Aviation, Commercial real estate, Residential real estate, Agriculture, Automotive, Steel and Cement, and has strengthened its ambitions in the Power Generation and Oil & Gas sectors.

Environmental commitments:

Groupe BPCE has strengthened its commitment by joining act4nature international.

Social commitments by providing financing for players in the social & solidarity-based economy, in social housing and the Public Sector.

Innovative and concrete actions for our clients

The Banques Populaires and Caisses d’Epargne retail banking networks have launched innovations to facilitate home ownership and offer all individual customers energy-efficient renovation solutions to preserve the value of their real-estate assets: for example, by the end of November 2024, over 640 million euros in financing had been granted for energy-efficient home renovation, and the Advice and Sustainable Solutions digital module had received over 5 million unique visitors.
The Group serves the SME and ISE clients of the Banques Populaires and Caisses d’Epargne, as well as local communities by providing locally-based advice and by financing the transition of their business models. It has also strengthened its partnership with the European Investment Bank (EIB) for the innovation and energy transition with over one billion euros in transition and decarbonization financing.
Green revenues in the CIB rose by +14% in 2024 YoY, driven by sustainable finance and renewable energy & new energy activities including tailored-made solutions and dedicated expertise provided by the Green Hub.

Groupe BPCE, a pioneer in sustainable finance, launched 5 green and social bond issues in the course of 2024 for an aggregate value of more than 3.6 billion euros, including the 1^st Social Bond with a profit-sharing coupon for the benefit of the Institut Robert-Debré du Cerveau de l’Enfant (Children’s Brain Development Institute), supported by APHP (Paris Public Hospitals).

¹ Given the insignificant amount of Natixis CIB’s financing dedicated to freight and passenger ships, Groupe BPCE has not published its action plan for this industrial sector

3. Capital, loss-absorbing capacity, liquidity, and funding

3.1 CET1¹ratio

Groupe BPCE’s CET1 ratio at end-December 2024 stood at an estimated 16.2%, unchanged from the previous quarter. It includes the following impacts:

Retained earnings: +21bps,
Net issuance of cooperative shares: +3bps,
Change in risk-weighted assets: – 33bps,
Other changes, including variations in the prudential backstop provision, items included under Other Comprehensive Income, and other adjustments: +4bps.

The Group’s CET1 ratio – presented on a pro-forma basis to reflect the inclusion of the future impacts of the SGEF and Nagelmackers acquisitions (-54bps) – stands at 15.6%,

At end-December 2024, Groupe BPCE held an equity buffer estimated at 18.6 billion euros above the threshold for triggering the maximum distributable amount (MDA) for equity capital, taking account of the prudential requirements laid down by the ECB applicable on January 2, 2025.

3.2 TLAC ratio¹

The Total Loss-Absorbing Capacity (TLAC) stood at an estimated 122.1 billion euros at the end of December 2024. The TLAC ratio, expressed as a percentage of risk-weighted assets, stood at an estimated 26.7%² at the end of December 2024 (without taking account of preferred senior debt for the calculation of this ratio), well above the standard requirements of the Financial Stability Board that were equal to 22.4% at January 2, 2025.

3.3 MREL ratio¹

Expressed as a percentage of risk-weighted assets at December 31, 2024, Groupe BPCE’s subordinated MREL ratio (without taking account of preferred senior debt for the calculation of this ratio) and the total MREL ratio stood at 26.7%² and 34.6%, well above the minimum requirements laid down by the SRB at January 2, 2025 of 22.4%³ and 27.3%³ respectively.

3.4 Leverage ratio¹

At December 31, 2024, the estimated leverage ratio stood at 5.1%, well above the requirement.

3.5 Liquidity reserves at a high level

The LCR (Liquidity Coverage Ratio) for Groupe BPCE is well above the regulatory requirement of 100%, at an average of 142% of month-end LCRs for the 4^th quarter 2024.
Liquidity reserves stood at 302 billion euros at December 2024, representing a coverage ratio of 177% of short-term financial debt (including short-term maturities of medium- to long-term financial debt).

3.6 MLT funding plan: 32% of the 2025 objectives completed as at January 31, 2025

The size of the MLT funding plan, excluding structured private placements and Asset Backed Securities (ABS), has been set at 23 billion euros for 2025. The breakdown per type of debt is as follows:

10 billion euros in TLAC funding: 2.0 billion euros in Tier 2 funding and 8 billion euros in senior non-preferred debt,
3 billion euros senior preferred debt,
10 billion euros in covered bonds.

The target for ABS is 8 billion euros.

At January 31, 2025, Groupe BPCE had raised 7.3 billion euros, excluding structured private placements and ABS (32% of the 23 billion euro funding plan):

5.6 billion euros in TLAC funding: 1.7 billion euros in Tier 2 funding (87% of requirements) and 3.9 billion euros in senior non-preferred debt (49% of requirements),
1.7 billion euros in covered bonds (17% of requirements).

At January 31, 2025, the amount of ABS raised came to a total of 0.7 billion euros, i.e. 8% of the target.

Capital adequacy, Total loss-absorbing capacity – see the note on methodology
¹ Estimated at December 31, 2024 ² Groupe BPCE has chosen to waive the possibility provided by Article 72 Ter (3) of the Capital Requirements Regulation (CRR) to use senior preferred debt to ensure compliance with its TLAC/subordinated MREL requirements. ³ Following reception of MREL’s annual letter for 2024

4. Results of the business lines

4.1 Retail Banking & Insurance

€m¹	Q4-24	% Change	2024	% Change
Net banking income	4,064	14%	15,397	4%
Operating expenses	(2,497)	(0)%	(9,902)	1%
Gross operating income	1,567	45%	5,495	10%
Cost of risk	(556)	(13)%	(1,751)	16%
Income before tax	998	142%	3,807	8%
Exceptional items	(45)	(60)%	(115)	3%
Underlying²income before tax	1,044	98%	3,922	8%
Underlying cost/income ratio³	60.4%	(8.5)pp	63.6%	(2.2)pp

At end-December 2024, loan outstandings rose by 1% to 724 billion euros. Outstanding home loans remained stables at 400 billion euros, while equipment loans rose by 3% during the year to 199 billion euros.

At end-December 2024, on-balance sheet customer deposits & savings totaled 681 billion euros, representing an increase of 5 billion euros year-on-year, with a 5% rise in term accounts and a 3% year-on-year increase in both regulated and unregulated passbook savings accounts.

Net banking income for the Retail Banking & Insurance business unit rose by 14% in Q4-24 to 4,064 million euros, and by 4% in full-year 2024 to 15,397 million euros. In Q4-24, these changes reflect the good level of business activities: in the networks, revenues rose by 17% for the Banque Populaire retail banking network and by 14% for the Caisse d’Épargne network. Net banking income for both networks also recorded growth in full-year 2024, by 4% for the Banque Populaire network and by 3% for the Caisse d’Épargne network.

The Financial Solutions & Expertise business lines continued to benefit from strong sales momentum, particularly in the leasing segment. Revenues remained stable in Q4-24 but saw 2% growth in full-year 2024. In Insurance, premiums⁴ rose by 15% in 2024, driven by both Non-Life Insurance and Life & Personal Protection Insurance. The Digital & Payments business unit reported a 14% increase in revenues in Q4-24 and 7% growth in full-year 2024, driven by card transactions and instant payment operations.

Operating expenses remained tightly managed, stable in Q4-24 at 2,497 million euros, and up by just 1% in full-year 2024 to 9,902 million euros.

The underlying cost/income ratio³ improved by 8.5pp in Q4-24 to 60.4%, and by 2.2pp in full-year 2024 to 63.6%.

The business unit’s gross operating income benefited from a strong positive jaws effect, rising by 45% in Q4-24 to
1,567 million euros and by 10% in full-year 2024 to 5,495 million euros.

The cost of risk amounted to -556 million euros in Q4-24, down 13%, and stood at -1,751 million euros in 2024, up 16%.

For the business unit as a whole, income before tax amounted to 998 million euros in Q4-24, up 142%, and stood at 3,807 million in full-year 2024, up 8%.

Underlying income before tax² amounted to 1,044 million euros in Q4-24, up 98%, and came to 3,922 million euros in full-year 2024, up 8%.

4.1.1 Banque Populaire network
The Banque Populaire retail banking network is comprised of 14 cooperative banks (12 regional Banques Populaires along
with CASDEN Banque Populaire and Crédit Coopératif) and their subsidiaries, Crédit Maritime Mutuel, and the Mutual
Guarantee Companies.

€m¹	Q4-24	% Change	2024	% Change
Net banking income	1,614	17%	6,098	4%
Operating expenses	(980)	1%	(4,047)	2%
Gross operating income	634	56%	2,051	8%
Cost of risk	(266)	(6)%	(814)	25%
Income before tax	352	137%	1,285	(2)%
Exceptional items	(17)	77%	(51)	ns
Underlying²income before tax	369	133%	1,336	2%
Underlying cost/income ratio³	59.7%	(10.2)pp	65.5%	(1.9)pp

Loan outstandings remained stable year-on-year, standing at 301 billion euros at the end of December 2024.
On-balance sheet customer deposits & savings decreased by 2 billion euros year-on-year at the end of December 2024, with term accounts remaining stable during the 12-month period, while both regulated and unregulated passbook savings accounts saw 2% year-on-year growth.

Net banking income came to 6,098 million euros in full-year 2024, up 4% year-on-year. This included 3.2 billion euros in net interest margin^4,5 up 5% year-on-year, and 2.9 billion euros in commissions⁵ (up 3% year-on-year).
In Q4-24, net banking income came to a total of 1,614 million euros, up 17% year-on-year.

Operating expenses rose by a limited 1% in Q4-24 to 980 million euros, and increased by 2% in full-year 2024, to 4,047 million euros.
The underlying cost/income ratio³ consequently saw a 10.2pp improvement in Q4-24, to 59.7%, and a 1.9pp improvement in full-year 2024, to 65.5%.

Gross operating income benefited from positive jaws effects, rising by 56% to 634 million euros in Q4-24 and by 8% to 2,051 million euros in full-year 2024.

The cost of risk stood at -266 million euros in Q4-24, down 6%, and -814 million euros in 2024, up 25%.

Income before tax came to 352 million euros in Q4-24 (+137%) and 1,285 million euros in 2024 (-2%).

Underlying income before tax² amounted to 369 million euros in Q4-24 (+133%) and 1,336 million euros in full-year 2024
(+2%).

¹ Reported figures until “Income before tax” ² “Underlying” means exclusive of exceptional items ³ The business line cost/income ratios have been calculated on the basis of net banking income and underlying operating expenses ⁴ Excluding provisions for home-purchase savings schemes ⁵ Income on regulated savings has been restated to account for the net interest margin and included under commissions

4.1.2 Caisse d’Epargne network
The Caisse d’Epargne retail banking network comprises 15 individual Caisses d’Epargne along with their subsidiaries

€m¹	Q4-24	% Change	2024	% Change
Net banking income	1,616	14%	6,054	3%
Operating expenses	(1,084)	0%	(4,216)	1%
Gross operating income	531	55%	1,838	10%
Cost of risk	(205)	(6)%	(640)	16%
Income before tax	328	161%	1,200	7%
Exceptional items	(27)	171%	(60)	ns
Underlying²income before tax	355	162%	1,260	13%
Underlying cost/income ratio³	65.4%	(9.8)pp	68.7%	(2.7)pp

Loan outstandings rose by 1% year-on-year to 376 billion euros at the end of December 2024.
On-balance sheet customer deposits & savings increased by 5 billion euros year-on-year, with growth in term accounts (+12%) and an increase in regulated and unregulated passbook savings accounts (+3%).

Net banking income rose by 3% to reach 6,054 million euros in full-year 2024, including:

2.6 billion euros in net interest margin^4,5, down 3% year-on-year,
3.4 billion euros in commissions⁵ up 7% year-on-year.

Net banking income came to a total of 1,616 million euros, up 14% year-on-year, in Q4-24 and stood at 6,054 million euros, up 3% year-on-year in full-year 2024.

Operating expenses remained stable at 1,084 million euros in Q4-24, and rose by 1% in full-year 2024 to 4,216 million euros.

The underlying cost/income ratio³ improved by 9.8pp to 65.4% in Q4-24 and by 2.7pp to 68.7% in full-year 2024.

Gross operating income benefited from positive jaws effects in Q4-24 (+55%), rising to 531 million euros, and enjoyed 10% growth in full-year 2024, rising to 1,838 million euros.

The cost of risk came to -205 million euros in Q4-24, down 6%, and to -640 million euros in 2024, up 16%.

Income before tax rose by 161% to 328 million euros in Q4-24, and came to 1,200 million euros in 2024.
(+7%).

Underlying income before tax² amounted to 355 million euros in Q4-24 (+162%) and 1,260 million euros in full-year 2024
(+13%).

4.1.3 Financial Solutions & Expertise

€m¹	Q4-24	% Change	2024	% Change
Net banking income	334	(0)%	1,303	2%
Operating expenses	(169)	1%	(636)	1%
Gross operating income	165	(2)%	667	3%
Cost of risk	(38)	(30)%	(108)	11%
Income before tax	125	11%	555	2%
Exceptional items	0	ns	0	ns
Underlying²income before tax	125	11%	555	1%
Underlying cost/income ratio³	50.7%	1.0pp	48.8%	(0.3)pp

Sales momentum remained strong in services designed for individual customers, particularly in consumer credit, with average loan outstandings (personal loans and revolving credit) up 7% year-on-year, consolidating the Group’s position as France’s leading bank for consumer credit.

The Leasing activity continued to provide robust support to companies with growth in average outstandings (+10% year-on-year) chiefly driven by equipment leasing (+17%). Energéco, a player committed to the renewable energies sector, had an exceptional year with production exceeding, for the first time, one billion transactions arranged.

Despite the unfavorable business environment, the business lines working in the housing and real estate sector demonstrated their resilience with confirmation in Q4-2024 of the positive upturn of activity in personal loan guarantees, leading to an increase in gross written premiums (+2% in Q4-24 year-on-year vs. -40% in the first 9 months of 2024).

Net banking income for the Financial Solutions & Expertise business unit remained stable at 334 million euros in Q4-24, but rose 2% to 1,303 million euros in full-year 2024.

Operating expenses, which stood at 169 million euros in Q4-24 and 636 million euros in full-year 2024, remained tightly managed.

The underlying cost/income ratio³ increased by 1.0pp in Q4-24 to 50.7% and improved by 0.3pp in full-year 2024 to 48.8%.

Gross operating income, which came to 165 million euros in Q4-24, was down 2%; it stood at 667 million euros in full-year 2024, up 3%.

The cost of risk stood at -38 million euros in Q4-24, down 30%, and at -108 million euros in full-year 2024 (+11%).

Income before tax rose by 11% to 125 million euros in Q4-24 and increased by 2% to 555 million euros in full-year 2024.

Underlying income before tax² rose by 11% in Q4-24 and by 1% in full-year 2024, to 125 million euros and 555 million euros respectively.

4.1.4 Insurance¹
The results presented below concern the Insurance business unit held directly by BPCE since March 1, 2022.

€m²	Q4-24	% Change	2024	% Change
Net banking income	171	17%	694	10%
Operating expenses³	(36)	(10)%⁴	(143)	(12)%⁴
Gross operating income	135	28%	550	17%
Income before tax	141	32%	566	19%
Exceptional items	0	ns	0	ns
Underlying⁵income before tax	141	30%	566	17%
Underlying cost/income ratio⁶	21.3%	(5.3)pp	20.7%	(4.1)pp

In Q4-24, premiums⁷ reached 4.8 billion euros, up 12% thanks to the considerable dynamism demonstrated by Life Insurance and Life & Personal Protection insurance. In full-year 2024, premiums⁷ rose by 15% to 18.6 billion euros, with a 16% increase for Life & Personal Protection insurance and a 9% increase for Property & Casualty insurance.

Life insurance assets under management⁷ reached 103 billion euros at the end of December 2024 thanks to record-breaking net inflows in both euro funds and unit-linked products. Since the end of December 2023, life insurance assets have risen by 12%, driven by significant positive inflows in both euro funds and unit-linked products. Gross inflows⁷ in life insurance stood at 14.9 billion euros in 2024. Unit-linked products accounted for 53% of inflows⁷ at the end of December 2024.

In the Property & Casualty segment, the client equipment rate for both networks was approximately 35%⁸ at the end of December 2024, up 0.5pp since the end of December 2023.

Net banking income rose by 17% in Q4-24 to 171 million euros, and rose by 10% to 694 million euros in full-year 2024.

Operating expenses³ fell by 10%⁴ year-on-year in Q4-24 to 36 million euros, and by 12%⁴ in full-year 2024 to 143 million euros.

The underlying cost/income ratio⁶ improved by 5.3pp to stand at 21.3% in Q4-24, and improved by 4.1pp to reach 20.7% in full-year 2024.

Thanks to positive jaws effects in Q4-24 and full-year 2024, EBITDA rose by 28% and 17% respectively.

Income before tax also improved, rising by 32% to 141 million euros in Q4-24 and by 19% to 566 million euros in full-year 2024.

Underlying⁵income before tax came to 141 million euros in Q4-24 (+30%) and to 566 million euros in full-year 2024 (+17%).

¹ BPCE Assurances ² Reported figures until “Income before tax” ³ “Operating expenses” corresponds to “non-attributable expenses” under IFRS 17, i.e. all costs that are not directly attributable to insurance contracts ⁴ At constant method: +7% in Q4-24 YoY and +4% in 2024 YoY ⁵ “Underlying” means exclusive of exceptional items ⁶ The business line cost/income ratios have been calculated on the basis of net banking income and underlying operating expenses ⁷ Excluding reinsurance treaty with CNP Assurance
⁸ Scope: combined individual clients of the BP and CE networks

4.1.5 Digital & Payments

€m¹	Q4-24	% Change	2024	% Change
Net banking income	227	14%	873	7%
o/w Payments	128	10%	491	6%
o/w Oney	99	19%	382	8%
Operating expenses	(173)	1%	(646)	(1)%
o/w Payments	(108)	9%	(394)	3%
o/w Oney	(65)	(10)%	(252)	(7)%
Gross operating income	54	96%	227	39%
Cost of risk	(33)	(52)%	(126)	(26)%
Income before tax	20	ns	97	ns
Exceptional items	(1)	(99)%	(5)	(96)%
Underlying²income before tax	21	ns	102	125%
Underlying cost/income ratio³	76.2%	(3.5)pp	73.9%	(2.1)pp

Digital & AI

At the end of December 2024, 11.8 million customers were active on Banques Populaires and Caisses d’Epargne mobile applications (up 3% vs. end-December 2023).

The “AI for all” in-house generative AI solution was being used by over 26,000 employees at the end of December 2024 (i.e. 25% of all Group employees.)

Thanks to transformative AI, 10 million documents had been verified automatically (+71%) by end-December 2024.

Payments

Net banking income enjoyed 10% growth in Q4-24 and 6% growth in full-year 2024, while operating expenses rose 9% in Q4-24 and 3% in full-year 2024.

The widespread use of Wero (European Payments Initiative) enables all customers to send and receive money via instant account-to-account payments in less than 10 seconds. Wero handles 2 million transactions per month and serves over 2 million active customers.

In the Payment Solutions business, the number of card transactions rose by 5% year-on-year, with continued growth in mobile and instant payments (+54% and +49% year-on-year respectively) and the ongoing rollout of Android POS terminals (multiplied by a factor of 2). The launch of Google Pay has strengthened our range of mobile products.

Oney Bank

Net banking income rose by 8% in 2024 thanks to improved margin rates and the asset repricing effect. Oney maintained its leadership position in the BNPL⁴ segment in France while business was robust in Europe outside France (+19% in volumes year-on-year).

Management expenses remained well under control, falling by 7% in full-year 2024.

The sharp drop in the cost of risk in 2024 (-26% YoY) confirms the positive impact of our action plans.
Net banking income for the Digital & Payments business unit rose by 14% in Q4-24 and by 7% in full-year 2024, to reach 227 million euros and 873 million euros respectively.

The business unit’s operating expenses were up 1% in Q4-24 and down 1% in full-year 2024, to reach 173 million euros and 646 million euros respectively.

This led to a 3.5pp improvement in the underlying cost/income ratio³ to 76.2% in Q4-24 and a 2.1pp improvement to 73.9% in full-year 2024.

Gross operating income, which benefitted from positive jaws effects, rose by 96% in Q4-24 to 54 million euros, and by 39% to 227 million euros in full-year 2024.

The cost of risk fell by 52% in Q4-24 to -33 million euros, and by 26% in full-year 2024 to -126 million euros.

Income before tax amounted to 20 million euros in Q4-24 and 97 million euros full-year 2024.

Underlying²income before tax came to 21 million euros in Q4-24 and 102 million euros in full-year 2024, equal to a sharp rise of 125%.

4.2 Global Financial Services
The GFS business unit includes the Asset & Wealth Management activities and the Corporate & Investment Banking activities of
Natixis.

€m¹	Q4-24	% Change	Constant Fx % change	2024	% Change	Constant Fx % change
Net banking income	2,055	8%	7%	7,947	8%	8%
o/w CIB	1,087	5%	5%	4,440	7%	7%
o/w AWM	968	11%	10%	3,507	10%	10%
Operating expenses	(1,501)	8%	7%	(5,651)	7%	7%
o/w CIB	(738)	5%	5%	(2,889)	8%	8%
o/w AWM	(763)	11%	10%	(2,763)	6%	6%
Gross operating income	553	8%	7%	2,296	10%	10%
Cost of risk	(86)	18%		(268)	73%
Income before tax	479	14%		2,051	4%
Exceptional items	0	ns		0	ns
Underlying²income before tax	479	10%		2,051	3%
Underlying cost/income ratio³	73.1%	0.7pp		71.1%	(0.1)pp

GFS revenues rose by 8% in both Q4-24 and full-year 2024 to respectively 2,055 million euros (+7% at constant exchange rates) and 7,947 million euros (+8% at constant exchange rates). These trends are the result of the robust performance of our global business lines.

In Q4-24, revenues generated by the Corporate & Investment Banking business rose by 5% to 1,087 million euros thanks, in particular, to the strong performance achieved by the Global Markets (+19%) and Global Finance (+2%) activities in full-year 2024. Net banking income for the CIB business in full-year 2024 rose by 7% to 4,440 million euros.

In Q4-24, Asset & Wealth Management revenues rose 10% at constant exchange rates to 968 million euros, chiefly thanks to higher management fees year-on-year. Assets under management rose by 13% since the begging of the year to reach a historic high of 1,317 billion euros, with record inflows and a strong positive market and change effects.

GFS operating expenses increased by 8% in Q4-24 and by 7% in 2024, to respectively 1,501 million euros (+7% at constant exchange rates) and 5,651 million euros (+7% at constant exchange rates). This rise in expenses is in line with revenue growth, leading to positive jaws effects in full-year 2024.

In Q4-24, Corporate & Investment Banking operating expenses rose by 5% in line with revenue growth. Asset & Wealth Management expenses rose by 10% at constant exchange rates in Q4-24.

The underlying cost/income ratio³ was 73.1% in Q4-24 and 71.1% in full-year 2024, up 0.7pp and down 0.1pp respectively.

Gross operating income rose 8% in Q4-24 to 553 million euros (+7% at constant exchange rates); it rose 10% in full-year 2024 to 2,296 million euros (+10% at constant exchange rates).

The cost of risk increased by 18% in Q4-24 and by 73% in full-year 2024, to -86 million euros and -268 million euros respectively.

Income before tax rose by 14% in Q4-24 to 479 million euros, and by 4% in full-year 2024 to 2,051 million euros.

Underlying²income before tax for Q4-24 was 479 million euros, up 10%, and stood at 2,051 million euros in full-year 2024, up 3%.

4.2.1 Corporate & Investment Banking
The Corporate & Investment Banking (CIB) business unit includes the Global markets, Global finance, Investment banking and
M&A activities of Natixis.

€m¹	Q4-24	% Change	2024	% Change
Net banking income	1,087	5%	4,440	7%
Operating expenses	(738)	5%	(2,889)	8%
Gross operating income	349	5%	1,551	3%
Cost of risk	(98)	60%	(282)	78%
Income before tax	262	3%	1,293	(3)%
Exceptional items	0	ns	0	ns
Underlying²income before tax	262	1%	1,293	(4)%
Underlying cost/income ratio³	67.9%	0.2pp	65.1%	1.2pp

Global Markets revenues rose by 19% to 452 million euros in full-year 2024. Revenues generated by the Equity business rose 53% to 96 million euros in Q4-24, driven by a strong performance in the Global Securities Financing activity. FIC-T revenues rose by 14% to 354 million euros in Q4-24, driven by a strong performance in the Credit and Foreign Exchange segments.

Global Finance revenues were up 2%, rising to 466 million euros in Q4-24 thanks to the sustained momentum of Trade Finance activities.

Investment Banking revenues were up 6% to 50 million euros in Q4-24, driven by the Acquisition & Strategic Finance and SECM business lines.
The M&A business lines recorded revenues of 361 million euros in full-year 2024, up 11% year-on-year.
Natixis Partners has acquired a stake in Financière de Courcelles in order to strengthen its position in the French M&A market within the small, mid, and upper mid-cap segments.

Net banking income generated by the Corporate & Investment Banking business unit rose by 5% in Q4-24 and by 7% in full-year 2024, to 1,087 million euros and 4,440 million euros respectively.

Operating expenses, which stood at 738 million euros in Q4-24, reflect 5% growth; expenses rose 8% in full-year 2024 to 2,889 million euros, in line with revenue growth.

The underlying cost/income ratio³ increased by 0.2pp to 67.9% in Q4-24, and by 1.2pp to 65.1% in full-year 2024.

Gross operating income rose by 5% in Q4-24 to 349 million euros, and by 3% in full-year 2024 to 1,551 million euros.

The cost of risk stood at -98 million euros, up 60%, in Q4-24, and at -282 million euros, up 78%, in full-year 2024.

Income before tax was up 3% to 262 million euros in Q4-24, and down 3% to 1,293 million euros in full-year 2024.

Underlying²income before tax was up 1% to 262 million euros in Q4-24, and down 4% to 1,293 million euros in full-year 2024.

4.2.2 Asset & Wealth Management
The business unit includes the Asset & Wealth Management activities of Natixis.

€m¹	Q4-24	% Change	2024	% Change
Net banking income	968	11%	3,507	10%
Operating expenses	(763)	11%	(2,763)	6%
Gross operating income	205	12%	744	27%
Income before tax	217	32%	759	21%
Exceptional items	0	ns	0	ns
Underlying²income before tax	217	24%	759	16%
Underlying cost/income ratio³	78.8%	1.0pp	78.8%	(2.0)pp

In Asset Management, assets under management⁴ reached an all-time high of 1,317 billion euros at the end of December 2024, up 13% since the beginning of the year, with record net inflows and strong positive market and currency effects.

Net inflows into Asset Management⁴ reached 40 billion euros in full-year 2024, chiefly thanks to fixed-income products from Loomis Sayles and DNCA, and to life insurance products. Private asset inflows remained positive on an annual basis.

ESG assets accounted for 40.3% of assets under management at the end of December 2024.

Asset management revenues grew at constant exchange rates by 10% in full-year 2024 but also in Q4-2024, driven by a higher level of average assets under management (+10% in Q4-2024).

In Asset Management⁴ in full-year 2024, the total fee rate (excluding performance fees) stood at 25.2bps (stable) and at 36.8bps excluding insurance asset management (-1.1bp).

Net banking income for the Asset & Wealth Management business unit rose by 11% in Q4-24 to 968 million euros, and by 10% in full-year 2024 to 3,507 million euros.

Operating expenses came to 763 million euros, up 11% in Q4-24, and to 2,763 million euros, up 6% in full-year 2024.

The underlying cost/income ratio³increased by 1.0pp in Q4-24 to 78.8%, and improved by 2.0pp in full-year 2024 to 78.8%.

Gross operating income rose by 12% to 205 million euros in Q4-24, and by 27% to 744 million euros in full-year 2024.

Income before tax came to 217 million euros in Q4-24 (+32%), and to 759 million euros in full-year 2024 (+21%).

Underlying²income before tax rose by 24% to 217 million euros in Q4-24, and by 16% to 759 million euros in full-year 2024.

¹ Reported figures until “Income before tax” ² “Underlying” means exclusive of exceptional items ³ The business line cost/income ratios have been calculated on the basis of net banking income and underlying operating expenses ⁴ Asset management: Europe includes Dynamic Solutions and Vega IM; North America includes WCM IM; excluding Wealth Management

ANNEXES

Notes on methodology

Presentation on the pro-forma quarterly results

The 2023 quarterly series are presented pro forma with changes in standards and organization:
The sectoral reallocation of the results of the private equity activities of the entities BP Développement & CE Développement from Corporate center to RB&I and GFS divisions.
The new management standards adopted by Natixis (including the normative allocation of capital to the business lines) within the GFS division.
The main evolutions impact RB&I, GFS and the Corporate center.
The data for 2023 has been recalculated to obtain a like-for-like basis of comparison.
The quarterly series of Groupe BPCE remain unchanged.
The tables showing the transition from reported 2023 to pro-forma 2023 are presented on annexes.

Exceptional items

Exceptional items and the reconciliation of the reported income statement to the underlying income statement of Groupe BPCE are detailed in the annexes.

Net banking income

Customer net interest income, excluding regulated home savings schemes, is computed on the basis of interest earned from transactions with customers, excluding net interest on centralized savings products (Livret A, Livret Développement Durable, Livret Épargne Logement passbook savings accounts) in addition to changes in provisions for regulated home purchase savings schemes. Net interest on centralized savings is assimilated to commissions.

Operating expenses

Operating expenses correspond to the aggregate total of the “Operating Expenses” (as presented in the second amendment of Group’s universal registration document, note 4.7 appended to the consolidated financial statements of Groupe BPCE) and “Depreciation, amortization and impairment for property, plant and equipment and intangible assets.”

Cost/income ratio

Groupe BPCE’s cost/income ratio is calculated on the basis of net banking income and operating expenses excluding exceptional items. The calculations are detailed in the annexes.
Business line cost/income ratios are calculated on the basis of underlying net banking income and operating expenses.

Cost of risk

The cost of risk is expressed in basis points and measures the level of risk per business line as a percentage of the volume of loan outstandings; it is calculated by comparing net provisions booked with respect to credit risks of the period to gross customer loan outstandings at the beginning of the period.

Loan oustandings and deposits & savings

Restatements regarding transitions from book outstandings to outstandings under management are as follows:
Loan outstandings: the scope of outstandings under management does not include securities classified as customer loans and receivables and other securities classified as financial operations,
Deposits & savings: the scope of outstandings under management does not include debt securities (certificates of deposit and savings bonds).

Capital Adequacy

Common Equity Tier 1 is determined in accordance with the applicable CRR II/CRD IV rules, after deductions.
Additional Tier-1 capital takes account of subordinated debt issues that have become non-eligible and subject to ceilings at the phase-out rate in force.
The leverage ratio is calculated in accordance with the applicable CRR II/CRD V rules. Centralized outstandings of regulated savings are excluded from the leverage exposures as are Central Bank exposures for a limited period of time (pursuant to ECB decision 2021/27 of June 18, 2021).

Total loss-absorbing capacity

The amount of liabilities eligible for inclusion in the numerator used to calculate the Total Loss-Absorbing Capacity (TLAC) ratio is determined by article 92a of CRR. Please note that a quantum of Senior Preferred securities has not been included in our calculation of TLAC.
This amount is consequently comprised of the 4 following items:

Common Equity Tier 1 in accordance with the applicable CRR II/CRD IV rules,
Additional Tier-1 capital in accordance with the applicable CRR II/CRD IV rules,
Tier-2 capital in accordance with the applicable CRR II/CRD IV rules,
Subordinated liabilities not recognized in the capital mentioned above and whose residual maturity is greater than 1 year, namely:
- The share of additional Tier-1 capital instruments not recognized in common equity (i.e. included in the phase-out),
- The share of the prudential discount on Tier-2 capital instruments whose residual maturity is greater than 1 year,
- The nominal amount of Senior Non-Preferred securities maturing in more than 1 year.

Liquidity

Total liquidity reserves comprise the following:

Central bank-eligible assets include: ECB-eligible securities not eligible for the LCR, taken for their ECB valuation (after ECB haircut), securities retained (securitization and covered bonds) that are available and ECB-eligible taken for their ECB valuation (after ECB haircut) and private receivables available and eligible for central bank funding (ECB and the Federal Reserve), net of central bank funding,
LCR eligible assets comprising the Group’s LCR reserve taken for their LCR valuation,
Liquid assets placed with central banks (ECB and the Federal Reserve), net of US Money Market Funds deposits and to which fiduciary money is added.

Short-term funding corresponds to funding with an initial maturity of less than, or equal to, 1 year and the short-term maturities of medium-/long-term debt correspond to debt with an initial maturity date of more than 1 year maturing within the next 12 months.
Customer deposits are subject to the following adjustments:

Addition of security issues placed by the Banque Populaire and Caisse d’Epargne retail banking networks with their customers, and certain operations carried out with counterparties comparable to customer deposits
Withdrawal of short-term deposits held by certain financial customers collected by Natixis in pursuit of its intermediation activities.

Business line indicators – BP & CE networks

Average rate (%) for residential mortgages: the average client rate for residential mortgages corresponds to the weighted average of actuarial rates for committed residential mortgages, excluding ancillary items (application fees, guarantees, creditor insurance). The rates are weighted by the amounts committed (offers made, net of cancellations) over the period under review. The calculation is based on aggregate residential mortgages, excluding zero interest rate loans.

Average rate (%) for consumer loans: the average client rate for consumer loans corresponds to the weighted average of the actuarial rates for committed consumer loans, excluding ancillary items (application fees, guarantees, creditor insurance). The rates are weighted by the amounts committed (offers made net of cancellations) over the period under review. The calculation is based on the scope of amortizable consumer loans, excluding overdraft and revolving loans.

Average rate (%) for equipment loans: the average customer rate for equipment loans is the average of the actuarial rates for equipment loans in each volume-weighted market.

Digital indicators

The number of active customers using mobile apps corresponds to the number of customers who have made at least one visit via one mobile apps over one month.
The number of documents checked automatically corresponds to the number of documents transmitted by customers through their digital spaces or in a physical branch and checked automatically: eligibility for the LEP popular passbook savings account and customer intelligence documents (KYC) for consumer loans, mortgages (digital) and new business relationships (digital and physical branches).

Impact indicators

Financing for energy-efficient home renovation for individual clients: this indicator calculates the aggregate annual production of loans granted to individual customers (natural persons) to finance energy renovation work, expressed in €m:

– Rénovation Energétique (Energy Renovation): consumer credit for environmentally-friendly properties,
– ECO PTZ MPR: consumer credit designed for renovation work eligible for the MaPrimeRenov program (government scheme to support energy-efficient home renovation work) for up to a total of €30,000,
– ECO PTZ: interest-free regulated home improvement loan for up to a total of €50,000

Number of unique visitors to the ‘Advice and Sustainable Solutions’ digital module: this indicator calculates the aggregate annual number of unique visitors who consult the ‘Advice and sustainable solutions’ page on BP and CE mobile applications.

Financing BtoB clients in their transition and decarbonization efforts: this indicator calculates the aggregate annual amount of loans granted to businesses to help finance their transition and decarbonization efforts, expressed in €m. This aggregate total is derived from the sum of BtoB loan amounts (Green loans + Impact loans + Vehicle Leasing + Green Lease with Purchase Option/Long-Term Rental agreements (LOA/LDD Green).

Within the scope of CIB activities, Green revenues are comprised of:

Sustainable Finance (GSH scope)
Renewable & new energies franchises
Activities with clients/assets rated Dark & Medium Green (Green Weighting Factor).

(restated for scope reconciliations).

Reconciliation of 2023 data to pro forma data

Retail banking and Insurance	Q1-23
€m	Net banking income	Operating expenses	Income before tax	Income tax	Net income
Reported figures	3,891	(2,496)	1,107	(269)	840
Sectoral reallocation	12	(1)	11	0	11
Pro forma figures	3,903	(2,497)	1,118	(269)	851

Global Financial Services	Q1-23
€m	Net banking income	Operating expenses	Income before tax	Income tax	Net income
Reported figures	1,822	(1,303)	590	(146)	432
Sectoral reallocation	0	0	0	0	0
New rules	32	(2)	30	(4)	26
Pro forma figures	1,854	(1,305)	621	(151)	458

Corporate center	Q1-23
€m	Net banking income	Operating expenses	Income before tax	Income tax	Net income
Reported figures	102	(788)	(729)	(10)	(739)
Sectoral reallocation	(12)	1	(11)	0	(11)
New rules	(32)	2	(30)	4	(26)
Pro forma figures	57	(785)	(771)	(5)	(776)

Retail banking and Insurance	Q2-23
€m	Net banking income	Operating expenses	Income before tax	Income tax	Net income
Reported figures	3,655	(2,459)	952	(224)	729
Sectoral reallocation	(15)	(1)	(15)	(0)	(15)
Pro forma figures	3,640	(2,460)	936	(224)	713

Global Financial Services	Q2-23
€m	Net banking income	Operating expenses	Income before tax	Income tax	Net income
Reported figures	1,798	(1,282)	429	(115)	300
Sectoral reallocation	(0)	(0)	(0)	(0)	(0)
New rules	31	(5)	26	(3)	22
Pro forma figures	1,829	(1,287)	455	(118)	322

Corporate center	Q2-23
€m	Net banking income	Operating expenses	Income before tax	Income tax	Net income
Reported figures	13	(58)	(44)	(14)	(56)
Sectoral reallocation	15	1	16	0	16
New rules	(31)	5	(26)	3	(22)
Pro forma figures	(3)	(52)	(54)	(10)	(63)

Retail banking and Insurance	Q3-23
€m	Net banking income	Operating expenses	Income before tax	Income tax	Net income
Reported figures	3,721	(2,358)	1,072	(268)	799
Sectoral reallocation	(13)	(1)	(14)	0	(14)
Pro forma figures	3,709	(2,359)	1,058	(268)	785

Global Financial Services	Q3-23
€m	Net banking income	Operating expenses	Income before tax	Income tax	Net income
Reported figures	1,736	(1,279)	444	(114)	319
Sectoral reallocation	(0)	(0)	(0)	0	(0)
New rules	31	(4)	27	(4)	23
Pro forma figures	1,767	(1,283)	470	(118)	341

Corporate center	Q3-23
€m	Net banking income	Operating expenses	Income before tax	Income tax	Net income
Reported figures	(3)	(175)	(176)	(23)	(200)
Sectoral reallocation	13	1	14	0	14
New rules	(31)	4	(27)	4	(23)
Pro forma figures	(21)	(170)	(189)	(19)	(210)

Retail banking and Insurance	Q4-23
€m	Net banking income	Operating expenses	Income before tax	Income tax	Net income
Reported figures	3,557	(2,497)	395	(122)	294
Sectoral reallocation	19	(1)	18	(0)	18
Pro forma figures	3,576	(2,499)	413	(122)	312

Global Financial Services	Q4-23
€m	Net banking income	Operating expenses	Income before tax	Income tax	Net income
Reported figures	1,874	(1,389)	391	(118)	255
Sectoral reallocation	0	(1)	(0)	(0)	(0)
New rules	33	(4)	29	(3)	26
Pro forma figures	1,908	(1,394)	420	(121)	280

Corporate center	Q4-23
€m	Net banking income	Operating expenses	Income before tax	Income tax	Net income
Reported figures	31	(243)	(249)	81	(168)
Sectoral reallocation	(20)	2	(18)	0	(18)
New rules	(33)	4	(29)	3	(26)
Pro forma figures	(22)	(237)	(296)	84	(211)

Q4-24 & Q4-23 results : reconcialiation of reported data to alternative performance measures

€m		Net banking income	Operating expenses	Cost of risk	Gains or losses on other assets	Income before tax	Net income – Group share
Reported Q4-24 results		6,046	(4,184)	(596)	(35)	1,262	913
Transformation and reorganization costs	Business lines/Corporate center	0	(86)		(1)	(87)	(64)
Disposals	Corporate center				(1)	(1)	(1)
Q4-24 results excluding exceptional items		6,045	(4,098)	(596)	(34)	1,349	977

€m		Net banking income	Operating expenses	Cost of risk	Gains or losses on other assets	Income before tax	Net income – Group share
Pro forma reported Q4-23 results		5,462	(4,129)	(744)	(43)	537	381
Transformation and reorganization costs	Business lines/Corporate center	(5)	(54)	(34)		(93)	(57)
Disposals	Corporate center				(43)	(43)	(43)
Pro forma Q4-23 results excluding exceptional items		5,467	(4,076)	(710)	(0)	672	481

2024 & 2023 results : reconcialiation of reported data to alternative performance measures

€m		Net banking income	Operating expenses	Cost of risk	Gains or losses on other assets	Income before tax	Net income – Group share
Reported 2024 results		23,317	(16,384)	(2,061)	28	4,956	3,520
Transformation and reorganization costs	Business lines/Corporate center	3	(208)		(1)	(206)	(153)
Disposals	Corporate center	0			(3)	(3)	(3)
2024 results excluding exceptional items		23,314	(16,176)	(2,061)	32	5,165	3,675

€m		Net banking income	Operating expenses	Cost of risk	Gains or losses on other assets	Income before tax	Net income – Group share
Pro forma reported 2023 results		22,198	(16,328)	(1,731)	8	4,182	2,804
Transformation and reorganization costs	Business lines/Corporate center	2	(213)	(32)		(242)	(164)
Disposals	Corporate center				(45)	(45)	(44)
Litigations	Business lines/Corporate center	87				87	87
Pro forma 2023 results excluding exceptional items		22,108	(16,115)	(1,699)	53	4,381	2,925

Groupe BPCE : underying cost to income ratio

€m	Net banking income	Operating expenses	Underlying cost income ratio
Q4-24 reported figures	6,046	(4,184)
Impact of exceptional items	0	(86)
Q4-24 underlying figures	6,045	(4,098)	67.8%

€m	Net banking income	Operating expenses	Underlying cost income ratio
Q4-23 Pro forma reported figures	5,462	(4,129)
Impact of exceptional items	(5)	(54)
Q4-23 Pro forma underlying figures	5,467	(4,076)	74.6%

Groupe BPCE : underying cost to income ratio

€m	Net banking income	Operating expenses	Underlying cost income ratio
2024 reported figures	23,317	(16,384)
Impact of exceptional items	3	(208)
2024 underlying figures	23,314	(16,176)	69.4%

€m	Net banking income	Operating expenses	Underlying cost income ratio
2023 Pro forma reported figures	22,198	(16,328)
Impact of exceptional items	89	(213)
2023 Pro forma underlying figures	22,108	(16,115)	72.9%

Groupe BPCE : quarterly income statement per business line

	RETAIL BANKING & INSURANCE		GLOBAL FINANCIAL SERVICES		CORPORATE CENTER		GROUPE BPCE
€m	Q4-24	Q4-23	Q4-24	Q4-23	Q4-24	Q4-23	Q4-24	Q4-23	%
Net banking income	4,064	3,576	2,055	1,908	(73)	(22)	6,046	5,462	11%
Operating expenses	(2,497)	(2,499)	(1,501)	(1,394)	(186)	(237)	(4,184)	(4,129)	1%
Gross operating income	1,567	1,077	553	514	(259)	(259)	1,862	1,332	40%
Cost of risk	(556)	(643)	(86)	(73)	46	(28)	(596)	(744)	(20)%
Income before tax	998	413	479	420	(215)	(296)	1,262	537	x 2
Income tax	(222)	(122)	(124)	(121)	19	84	(326)	(159)	x 2
Non-controlling interests	(5)	21	(18)	(19)	0	1	(23)	3	ns
Net income – Group share	772	312	337	280	(196)	(211)	913	381	x 2

Groupe BPCE : 2024 income statement per business line

	RETAIL BANKING & INSURANCE		GLOBAL FINANCIAL SERVICES		CORPORATE CENTER		GROUPE BPCE
€m	2024	2023	2024	2023	2024	2023	2024	2023	%
Net banking income	15,397	14,828	7,947	7,358	(27)	12	23,317	22,198	5%
Operating expenses	(9,902)	(9,815)	(5,651)	(5,269)	(831)	(1,244)	(16,384)	(16,328)	0%
Gross operating income	5,495	5,013	2,296	2,088	(858)	(1,232)	6,933	5,870	18%
Cost of risk	(1,751)	(1,505)	(268)	(154)	(43)	(72)	(2,061)	(1,731)	19%
Income before tax	3,807	3,526	2,051	1,966	(902)	(1,310)	4,956	4,182	19%
Income tax	(891)	(882)	(534)	(507)	67	49	(1,357)	(1,340)	1%
Non-controlling interests	(14)	18	(66)	(56)	1	1	(79)	(38)	x 2
Net income – Group share	2,902	2,661	1,452	1,402	(834)	(1,260)	3,520	2,804	26%

Groupe BPCE : quarterly series

GROUPE BPCE
€m	Q1-23	Q2-23	Q3-23	Q4-23	Q1-24	Q2-24	Q3-24	Q4-24
Net banking income	5,815	5,467	5,455	5,462	5,753	5,626	5,892	6,046
Operating expenses	(4,587)	(3,799)	(3,812)	(4,129)	(4,151)	(4,008)	(4,041)	(4,184)
Gross operating income	1,228	1,667	1,642	1,332	1,602	1,618	1,851	1,862
Cost of risk	(326)	(342)	(319)	(744)	(382)	(560)	(523)	(596)
Income before tax	968	1,337	1,339	537	1,233	1,124	1,336	1,262
Net income – Group share	533	973	917	381	875	806	925	913

Groupe BPCE : Consolidated balance sheet

ASSETS €m	Dec. 31, 2024	Dec. 31, 2023
Cash and amounts due from central banks	133,186	152,669
Financial assets at fair value through profit or loss	230,521	214,582
Hedging derivatives	7,624	8,855
Financial assets at fair value through other comprehensive income	57,166	48,073
Securities at amortized cost	27,021	26,373
Loans and advances to banks and similar at amortized cost	115,862	108,631
Loans and receivables due from customers at amortized cost	851,843	839,457
Revaluation difference on interest rate risk-hedged portfolios	(856)	(2,626)
Financial investments of insurance activities	115,631	103,615
Insurance contracts issued – Assets	1,134	1,124
Reinsurance contracts held – Assets	9,320	9,564
Current tax assets	640	829
Deferred tax assets	4,160	4,575
Accrued income and other assets	16,444	14,611
Non-current assets held for sale	438	–
Investments in accounted for using equity method	2,146	1,616
Investment property	733	717
Property, plant and equipment	6,085	6,023
Intangible assets	1,147	1,110
Goodwill	4,312	4,224
TOTAL ASSETS	1,584,558	1,544,022

LIABILITIES €m	Dec. 31, 2024	Dec. 31, 2023
Amounts due to central banks	1	2
Financial liabilities at fair value through profit or loss	218,963	204,023
Hedging derivatives	14,260	14,973
Debt securities	304,957	292,598
Amounts due to banks and similar	69,953	79,634
Amounts due to customers	723,090	711,658
Revaluation difference on interest rate risk-hedged portfolios, liabilities	14	159
Insurance contracts issued – Liabilities	117,551	106,137
Reinsurance contracts held – Liabilities	119	149
Current tax liabilities	2,206	2,026
Deferred tax liabilities	1,323	1,640
Accrued expenses and other liabilities	20,892	22,492
Liabilities associated with non-current assets held for sale	312	–
Provisions	4,748	4,825
Subordinated debt	18,401	18,801
Shareholders’ equity	87,768	84,905
Equity attributable to equity holders of the parent	87,137	84,351
Non-controlling interests	630	553
TOTAL LIABILITIES	1,584,558	1,544,022

Groupe BPCE : Goodwill

€m	Dec. 31, 2023	Acquisitions	IRFS5 reclassifications	Translation adjustments	Dec. 31, 2024
Retail Banking & Insurance	822	58			879
Asset & Wealth Management	3,257	1	(72)	95	3,280
Corporate & Investment Banking	144			7	151
Total	4,224	58	(72)	102	4,312

Groupe BPCE: Statement of changes in shareholders’ equity

€m	Equity attributable to shareholders’ equity
December 31, 2023	84,407
Restatements¹	(56)
December 31, 2023 restated	84,351
Distributions	(833)
Change in capital (cooperative shares)	90
Impact of acquisitions and disposals on non-controlling interests (minority interests)	(48)
Income	3,520
Changes in gains & losses directly recognized in equity	144
Capital gains and losses reclassified as reserves	(31)
Others	(56)
December 31, 2024	87,137

¹ Opening shareholders’ equity has been adjusted for Funding Valuation Adjustments whose non-material impact on income has not given rise to a change in the latter in the 2024 consolidated financial statements

Retail Banking & Insurance: quarterly income statement

	BANQUE POPULAIRE NETWORK			CAISSE D’EPARGNE NETWORK			FINANCIAL SOLUTIONS & EXPERTISE			INSURANCE			DIGITAL & PAYMENTS				OTHER NETWORK				RETAIL BANKING & INSURANCE
€m	Q4-24	Q4-23	%	Q4-24	Q4-23	%	Q4-24	Q4-23	%	Q4-24	Q4-23	%	Q4-24	Q4-23	%	Q4-24		Q4-23	%	Q4-24		Q4-23	%
Net banking income	1,614	1,382	17%	1,616	1,423	14%	334	335	(0)%	171	146	17%	227	199	14%	101		91	12%	4,064		3,576	14%
Operating expenses	(980)	(975)	1%	(1,084)	(1,081)	0%	(169)	(167)	1%	(36)	(41)	(10)%	(173)	(171)	1%	(53)		(63)	(16)%	(2,497)		(2,499)	(0)%
Gross operating income	634	407	56%	531	343	55%	165	168	(2)%	135	105	28%	54	27	96%	48		28	75%	1,567		1,077	45%
Cost of risk	(266)	(282)	(6)%	(205)	(218)	(6)%	(38)	(54)	(31)%				(33)	(69)	(52)%	(15)		(19)	(23)%	(556)		(643)	(13)%
Income before tax	352	149	x2	328	126	x3	125	112	12%	141	107	32%	20	(89)	ns	33		9	x4	998		413	x2
Income tax	(73)	(45)	62%	(78)	(20)	x4	(33)	(27)	22%	(29)	(25)	16%	0	(2)	ns	(8)		(2)	x4	(222)		(122)	82%
Non-controlling interests	(0)	(6)	(94)%	(1)	(3)	(66)%	0	(0)	ns	0	(1)	ns	(3)	30	ns					(5)		21	ns
Net income – Group share	278	98	x3	248	103	x2	92	85	8%	112	81	39%	16	(61)	ns	25		7	x4	772		312	x2

	BANQUE POPULAIRE NETWORK			CAISSE D’EPARGNE NETWORK			FINANCIAL SOLUTIONS & EXPERTISE			INSURANCE			DIGITAL & PAYMENTS				OTHER NETWORK				RETAIL BANKING & INSURANCE
€m	2024	2023	%	2024	2023	%	2024	2023	%	2024	2023	%	2024	2023	%	2024		2023	%	2024		2023	%
Net banking income	6,098	5,862	4%	6,054	5,858	3%	1,303	1,274	2%	694	633	10%	873	816	7%	375		384	(2)%	15,397		14,828	4,%
Operating expenses	(4,047)	(3,970)	2%	(4,216)	(4,181)	1%	(636)	(630)	1%	(143)	(163)	(12)%	(646)	(652)	(1)%	(213)		(218)	(2)%	(9,902)		(9,815)	1%
Gross operating income	2,051	1,892	8%	1,838	1,677	10%	667	644	3%	550	470	17%	227	164	39%	162		166	(2)%	5,495		5,013	10%
Cost of risk	(814)	(651)	25%	(640)	(553)	16%	(108)	(98)	11%				(126)	(171)	(26)%	(62)		(33)	89%	(1,751)		(1,505)	16%
Income before tax	1,285	1,308	(2)%	1,200	1,125	7%	555	545	2%	566	475	19%	97	(68)	ns	103		140	(26)%	3,807		3,526	8%
Income tax	(307)	(329)	(7)%	(264)	(254)	4%	(146)	(140)	4%	(123)	(99)	24%	(27)	(25)	9%	(24)		(35)	(30)%	(891)		(882)	1%
Non-controlling interests	(9)	(24)	(64)%	(5)	(7)	(24)%	0	(0)	ns	0	(0)	ns	(0)	49	ns					(14)		18	ns
Net income – Group share	970	954	2%	931	864	8%	409	405	1%	443	376	18%	70	(43)	ns	79		106	(25)%	2,902		2,661	9%

Retail Banking & Insurance: 2024 income statement

Retail banking & insurance: quarterly series

RETAIL BANKING & INSURANCE
€m	Q1-23	Q2-23	Q3-23	Q4-23	Q1-24	Q2-24	Q3-24	Q4-24
Net banking income	3,903	3,640	3,709	3,576	3,763	3,701	3,869	4,064
Operating expenses	(2,497)	(2,460)	(2,359)	(2,499)	(2,547)	(2,456)	(2,403)	(2,497)
Gross operating income	1,406	1,180	1,350	1,077	1,217	1,245	1,467	1,567
Cost of risk	(308)	(252)	(302)	(643)	(296)	(475)	(423)	(556)
Income before tax	1,118	936	1,058	413	934	831	1,044	998
Net income – Group share	851	713	785	312	709	637	785	772

Retail Banking & Insurance: Banque Populaire and Caisse d’Epargne networks quarterly series

BANQUE POPULAIRE NETWORK
€m	Q1-23	Q2-23	Q3-23	Q4-23	Q1-24	Q2-24	Q3-24	Q4-24
Net banking income	1,569	1,442	1,469	1,382	1,489	1,489	1,506	1,614
Operating expenses	(1,018)	(1,015)	(961)	(975)	(1,043)	(1,025)	(999)	(980)
Gross operating income	551	427	508	407	445	464	508	634
Cost of risk	(132)	(110)	(127)	(282)	(125)	(228)	(195)	(266)
Income before tax	434	328	398	149	329	290	315	352
Net income – Group share	332	240	284	98	252	210	230	278

CAISSE D’EPARGNE NETWORK
€m	Q1-23	Q2-23	Q3-23	Q4-23	Q1-24	Q2-24	Q3-24	Q4-24
Net banking income	1,537	1,465	1,432	1,423	1,454	1,467	1,517	1,616
Operating expenses	(1,066)	(1,041)	(993)	(1,081)	(1,085)	(1,038)	(1,008)	(1,084)
Gross operating income	470	424	440	343	368	429	509	531
Cost of risk	(136)	(84)	(115)	(218)	(100)	(176)	(159)	(205)
Income before tax	334	340	325	126	270	252	350	328
Net income – Group share	253	256	253	103	208	194	281	248

Retail Banking & Insurance: FSE quarterly series

FINANCIAL SOLUTIONS & EXPERTISE
€m	Q1-23	Q2-23	Q3-23	Q4-23	Q1-24	Q2-24	Q3-24	Q4-24
Net banking income	315	306	318	335	327	320	322	334
Operating expenses	(157)	(151)	(154)	(167)	(162)	(154)	(151)	(169)
Gross operating income	158	155	164	168	166	166	171	165
Cost of risk	(6)	(19)	(18)	(54)	(24)	(22)	(24)	(38)
Income before tax	151	136	146	112	141	143	146	125
Net income – Group share	112	102	107	85	104	106	108	92

Retail Banking & Insurance: Insurance quarterly series

INSURANCE
€m	Q1-23	Q2-23	Q3-23	Q4-23	Q1-24	Q2-24	Q3-24	Q4-24
Net banking income	180	126	181	146	188	118	217	171
Operating expenses	(43)	(37)	(42)	(41)	(42)	(25)	(40)	(36)
Gross operating income	137	89	139	105	146	93	177	135
Income before tax	139	93	137	107	149	99	177	141
Net income – Group share	109	83	103	81	113	92	126	112

Retail Banking & Insurance: Digital & Payments quarterly series

DIGITAL & PAYMENTS
€m	Q1-23	Q2-23	Q3-23	Q4-23	Q1-24	Q2-24	Q3-24	Q4-24
Net banking income	205	203	209	199	215	214	218	227
Operating expenses	(161)	(163)	(157)	(171)	(160)	(159)	(154)	(173)
Gross operating income	44	40	52	27	55	55	64	54
Cost of risk	(32)	(41)	(29)	(69)	(31)	(32)	(30)	(33)
Income before tax	8	(6)	19	(89)	24	22	32	20
Net income – Group share	7	(3)	13	(61)	17	16	21	16

Retail Banking & Insurance: Other network quarterly series

OTHER NETWORK
€m	Q1-23	Q2-23	Q3-23	Q4-23	Q1-24	Q2-24	Q3-24	Q4-24
Net banking income	97	97	99	91	91	93	90	101
Operating expenses	(51)	(52)	(52)	(63)	(55)	(55)	(51)	(53)
Gross operating income	46	45	47	28	37	38	39	48
Cost of risk	(2)	2	(14)	(19)	(16)	(17)	(14)	(15)
Income before tax	52	47	33	9	20	25	25	33
Net income – Group share	39	36	25	7	16	19	20	25

Global Financial Services: quarterly income statement per business line

	ASSET AND WEALTH MANAGEMENT		CORPORATE & INVESTMENT BANKING		GLOBAL FINANCIAL SERVICES
€m	Q4-24	Q4-23	Q4-24	Q4-23	Q4-24	Q4-23	%
Net banking income	968	874	1,087	1,034	2,055	1,908	8%
Operating expenses	(763)	(691)	(738)	(703)	(1,501)	(1,394)	8%
Gross operating income	205	183	349	331	553	514	8%
Cost of risk	12	(12)	(98)	(62)	(86)	(73)	18%
Share in net income of associates	0	0	12	4	12	4	x3
Gains or losses on other assets	0	(7)	0	(17)	0	(24)	ns
Income before tax	217	165	262	255	479	420	14%
Net income – Group share	143	105	194	176	337	280	20%

Global Financial Services: 2024 income statement per business line

	ASSET AND WEALTH MANAGEMENT		CORPORATE & INVESTMENT BANKING		GLOBAL FINANCIAL SERVICES
€m	2024	2023	2024	2023	2024	2023	%
Net banking income	3,507	3,192	4,440	4,166	7,947	7,358	8%
Operating expenses	(2,763)	(2,604)	(2,889)	(2,666)	(5,651)	(5,269)	7%
Gross operating income	744	588	1,551	1,500	2,296	2,088	10%
Cost of risk	14	4	(282)	(158)	(268)	(154)	73%
Share in net income of associates	0	0	23	13	23	14	67%
Gains or losses on other assets	0	35	0	(17)	0	18	ns
Income before tax	759	627	1,293	1,338	2,051	1,966	4%
Net income – Group share	500	425	952	977	1,452	1,402	4%

Global Financial Services: quarterly series

GLOBAL FINANCIAL SERVICES
€m	Q1-23	Q2-23	Q3-23	Q4-23	Q1-24	Q2-24	Q3-24	Q4-24
Net banking income	1,854	1,829	1,767	1,908	1,933	1,983	1,976	2,055
Operating expenses	(1,305)	(1,287)	(1,283)	(1,394)	(1,368)	(1,366)	(1,415)	(1,501)
Gross operating income	549	542	483	514	564	617	561	553
Cost of risk	27	(91)	(17)	(73)	(58)	(82)	(41)	(86)
Income before tax	621	455	470	420	510	539	525	479
Net income – Group share	458	322	341	280	364	384	366	337

Corporate & Investment Banking: quarterly series

CORPORATE & INVESTMENT BANKING
€m	Q1-23	Q2-23	Q3-23	Q4-23	Q1-24	Q2-24	Q3-24	Q4-24
Net banking income	1,074	1,056	1,002	1,034	1,102	1,133	1,118	1,087
Operating expenses	(661)	(651)	(650)	(703)	(706)	(694)	(751)	(738)
Gross operating income	412	405	352	331	396	439	367	349
Cost of risk	21	(90)	(28)	(62)	(54)	(91)	(39)	(98)
Income before tax	437	318	328	255	346	352	333	262
Net income – Group share	321	233	247	176	255	261	242	194

Asset & Wealth Management: quarterly series

ASSET & WEALTH MANAGEMENT
€m	Q1-23	Q2-23	Q3-23	Q4-23	Q1-24	Q2-24	Q3-24	Q4-24
Net banking income	781	773	764	874	830	850	858	968
Operating expenses	(644)	(636)	(633)	(691)	(662)	(673)	(664)	(763)
Gross operating income	137	137	131	183	168	178	194	205
Cost of risk	6	(1)	11	(12)	(5)	9	(2)	12
Income before tax	184	136	143	165	163	187	192	217
Net income – Group share	137	89	94	105	109	123	124	143

Corporate center: quarterly series

CORPORATE CENTER
€m	Q1-23	Q2-23	Q3-23	Q4-23	Q1-24	Q2-24	Q3-24	Q4-24
Net banking income	57	(3)	(21)	(22)	57	(58)	46	(73)
Operating expenses	(785)	(52)	(170)	(237)	(236)	(186)	(223)	(186)
Gross operating income	(728)	(55)	(191)	(259)	(179)	(244)	(176)	(259)
Cost of risk	(46)	1	0	(28)	(28)	(2)	(59)	46
Share in income of associates	2	0	1	(9)	3	0	1	5
Gains or losses on other assets	(0)	0	(0)	(0)	(6)	1	3	(8)
Income before tax	(771)	(54)	(189)	(296)	(210)	(245)	(232)	(215)
Net income – Group share	(776)	(63)	(210)	(211)	(198)	(215)	(226)	(196)

DISCLAIMER

This document may contain forward-looking statements and comments relating to the objectives and strategy of Groupe BPCE. By their very nature, these forward-looking statements inherently depend on assumptions, project considerations, objectives and expectations linked to future events, transactions, products and services as well as on suppositions regarding future performance and synergies.

No guarantee can be given that such objectives will be realized; they are subject to inherent risks and uncertainties and are based on assumptions relating to the Group, its subsidiaries and associates and the business development thereof; trends in the sector; future acquisitions and investments; macroeconomic conditions and conditions in the Group’s principal local markets; competition and regulation. Occurrence of such events is not certain, and outcomes may prove different from current expectations, significantly affecting expected results. Actual results may differ significantly from those anticipated or implied by the forward-looking statements. Groupe BPCE shall in no event have any obligation to publish modifications or updates of such objectives.

Information in this presentation relating to parties other than Groupe BPCE or taken from external sources has not been subject to independent verification; the Group makes no statement or commitment with respect to this third-party information and makes no warranty as to the accuracy, fairness, precision or completeness of the information or opinions contained in this press release. Neither Groupe BPCE nor its representatives shall be held liable for any errors or omissions or for any harm that may result from the use of this presentation or of its contents or any related material, or of any document or information referred to in this presentation.

The financial information presented in this document relating to the fiscal period ended December 31, 2024 has been drawn up in compliance with IFRS standards, as adopted in the European Union.
This financial information is not the equivalent of summary financial statements for an interim period as defined by IAS 34 “Interim Financial Reporting”.

Preparation of the financial information requires Management to make estimates and assumptions in certain areas regarding uncertain future events.

These estimates are based on the judgment of the individuals preparing this financial information and the information available at the date of the balance sheet. Actual future results may differ from these estimates. For further information, see chapter 5, part 5.1, note 2.3 “Use of estimates and judgments” of the Universal Registration Document 2023 filed with the Autorité des Marchés Financiers, the French financial markets authority.
With respect to the financial information of Groupe BPCE for the quarter ended December 31, 2024, and in view of the context mentioned above, attention should be drawn to the fact that the estimated increase in credit risk and the calculation of expected credit losses (IFRS 9 provisions) are largely based on assumptions that depend on the macroeconomic context.

Significant factors liable to cause actual results to differ from those anticipated in the projections are related to the banking and financial environment in which Groupe BPCE operates, which exposes it to a multitude of risks. These potential risks liable to affect Groupe BPCE’s financial results are detailed in the “Risk factors & risk management” chapter of the latest amendment to the 2023 Universal Registration Document filed with the Autorité des Marchés Financiers.

Investors are advised to consider the uncertainties and risk factors liable to affect the Group’s operations when examining the information contained in the projection elements.

The financial results contained in this presentation have not been reviewed by the statutory auditors. The quarterly financial information of Groupe BPCE for the period ended December 31, 2024, approved by the Management Board at a meeting convened on February 3, 2025, were verified and reviewed by the Supervisory Board at a meeting convened on February 5, 2025.

The sum of the values shown in the tables and analyses may differ slightly from the total reported owing to rounding effects.

About Groupe BPCE
Groupe BPCE is the second-largest banking group in France. Through its 100,000 staff, the group serves 35 million customers – individuals, professionals, companies, investors and local government bodies – around the world. It operates in the retail banking and insurance fields in France via its two major networks, Banque Populaire and Caisse d’Epargne, along with Banque Palatine and Oney. It also pursues its activities worldwide with the wholesale banking expertise of Natixis Corporate & Investment Banking and with the asset & wealth management services provided by Natixis Investment Managers.
The Group’s financial strength is recognized by four financial rating agencies: Moody’s (A1, stable outlook), Standard & Poor’s (A+, stable outlook), Fitch (A+, stable outlook) and R&I (A+, stable outlook).

groupebpce.com

Attachment

Groupe BPCE_PR_Results_Q4-24 & 2024_FV

The MIL Network –

February 6, 2025

MIL-OSI: SOITEC REPORTS FY’25 THIRD QUARTER REVENUE

Source: GlobeNewswire (MIL-OSI)

SOITEC REPORTS FY’25 THIRD QUARTER REVENUE

Reaching €226m, Q3’25 revenue was almost stable vs. Q2’25 and down 10% at constant exchange rates and perimeter compared with Q3’24
9M’25 revenue reached €564m, down 12% on a reported basis and decreased by 13% at constant exchange rates and perimeter vs. 9M’24
FY’25 guidance revised: revenue expected to decrease by high single digit year-on-year at constant exchange rates and perimeter (compared to flat previously), and EBITDA¹margin²expected between 32% and 34% (compared to around 35% previously)
Given the current lack of visibility on end markets, Soitec expects at this stage quite limited growth for FY’26

Bernin (Grenoble), France, February 5^th, 2025 – Soitec (Euronext Paris), a world leader in designing and manufacturing innovative semiconductor materials, today announced consolidated revenue of 226 million Euros for the third quarter of FY’25 (ended December 29^th, 2024), down 6% on a reported basis compared to the third quarter of FY’24. This reflects a 10% decline at constant exchange rates and perimeter, a positive currency impact of 5% and a negative scope effect³ of 1%.

Pierre Barnabé, Soitec’s CEO, commented: “After a very strong sequential rebound in the second quarter, we maintained the third-quarter revenue at a fairly similar level. The good performance of the Mobile Communications division was driven by sustained momentum in POI, and a seasonal tailwind in RF-SOI sales. Despite seasonal restocking in the second half of the fiscal year, the customers continue to optimize RF-SOI inventory levels based on seasonality and market conditions, which will keep driving fluctuations over the next few quarters. At the same time, we are strengthening our position as a leader, notably with the introduction of new innovative 300mm products. The Automotive and Industrial division continues to be impacted by a weak automotive market. In Edge & Cloud AI, the momentum remains strong, supported by significant investments in cloud infrastructure across the industry to accelerate AI computing power, as well as increasing demand at the edge for lower energy consumption and processing costs.

Due to worsening conditions in the Automotive and Consumer markets, a couple of customers have requested to put some delivery requests on hold. As a consequence, we are adjusting our guidance for fiscal year 2025, with annual revenue expected to decrease by high single digit year-on-year. We are managing our EBITDA margin to be between 32% and 34%.

With the lack of visibility on our end markets for now, it is also too early to provide specific guidance for fiscal year 2026. Given current market conditions, we expect at this stage quite limited growth for fiscal year 2026.

Our fundamentals remain solid and will allow us to accelerate as end markets recover. We continue to enhance our technology leadership, to strengthen our SOI positioning with both existing and new customers, and to deploy our expansion into compound semiconductors with the acceleration of POI volumes and a fifth customer in qualification on SmartSiC^TM.”

Third quarter FY’25 consolidated revenue (unaudited)

	Q3’25	Q3’24	*Q3’25/Q3’24*


(Euros millions)			*change reported*	*chg. at const. exch. rates & perimeter*

Mobile Communications	154	130	*+18%*	*+11%*
Automotive & Industrial	25	44	*-43%*	*-47%*
Edge & Cloud AI	47	65	*-28%*	*-30%*

Revenue	226	240	*-6%*	*-10%*

Q3’25 revenue reached 226 million Euros. After the sharp sequential increase achieved in Q2’25, it was up 4% versus Q2’25 on a reported basis (down 2% at constant exchange rates and perimeter). Compared to Q3’24, it was down 10% at constant exchange rates and perimeter.

Q3’25 revenue reflected an improved performance in Mobile Communications and a weaker performance in Automotive & Industrial as well as in Edge & Cloud AI which was due to a different phasing in Imager-SOI wafer sales.

Mobile Communications

Mobile Communications revenue reached 154 million Euros in Q3’25, up 11% at constant exchange rates and perimeter compared to Q3’24. In the context of a healthier smartphone market and inventory situation, Mobile Communications revenue continued to recover in Q3’25 after the sharp rebound already experienced in Q2’25.

As expected, growth in RF-SOI wafer sales has resumed. Q3’25 sales were significantly higher than in Q2’25, and also higher than in Q3’24. While reflecting different situations, inventories in the overall supply chain now seem to progressively normalize. Soitec is confident that growth in RF-SOI wafer sales will continue in Q4’25. Soitec continues to reinforce its strong customer intimacy, leveraging state-of-the-art Innovation capabilities to develop leading-edge products, as evidenced by the announcement of its commitment to provide GlobalFoundries with its latest generation of RF-SOI 300mm wafers to support GF’s most advanced 9SW platform.

Sales of POI (Piezoelectric-on-Insulator) wafers dedicated to RF filters continue to grow quarter after quarter, as the adoption of Surface Acoustic Wave (SAW) filters on POI is accelerating with ten active customers in production, and more than ten in qualification. Q3’25 POI wafer sales were significantly higher than in Q2’25 and Q3’24. Soitec is engaged with all leading US fabless companies.

Sales of FD-SOI wafers, the only solution for fully integrated 5G mmWave system-on-chip, have made further progress in Q3’25, showing an increase from Q2’25 as well as growth compared to Q3’24.

Automotive & Industrial

Automotive & Industrial revenue reached 25 million Euros in Q3’25, lower than in Q2’25 and down 47% at constant exchange rates and perimeter compared Q3’24, reflecting the ongoing difficulties of the automotive market.

Power-SOI wafer sales reached a particularly low level in Q3’25, as the ongoing weakness of the automotive market is leading to some inventory adjustments at customer level. Power-SOI remains a key component for gate drivers, in vehicle networking and in Battery Management ICs.

Conversely, FD-SOI wafers recorded a better level of sales in Q3’25 than in Q3’24. Automotive FD-SOI continue to be mostly driven by adoption for microcontrollers, radar and wireless connectivity, delivering on superior performance and power efficiency.

Further SmartSiC^TM samples and prototypes were delivered during Q3’25, paving the way for new qualifications. Soitec has engaged with a fifth customer in a qualification process. The current weakness of the automotive market and the longer than initially anticipated customers’ qualification cycles confirm a delay in the expected wafer production ramp-up, as stated earlier this year.

Edge & Cloud AI

Edge & Cloud AI revenue reached 47 million Euros in Q3’25, down 30% at constant exchange rates and perimeter compared to Q3’24. Performance was however contrasted from one product to another.

Demand in Photonics-SOI wafers continue to benefit from a very positive momentum driven by high investments in Cloud infrastructure. Sales of Photonics-SOI were much stronger in Q3’25 than in Q2’25, and significantly higher than in Q3’24. This reflects the need for more powerful and more energy-efficient data centers to support the exponential growth of AI-related computing power capabilities. Photonics-SOI has become a standard technology platform for high-speed and high bandwidth optical interconnections in data centers, adopted in pluggable optical transceivers, and used for the development of Co-Packaged Optics.

Sales of FD-SOI wafers remained as strong as in Q2’25 but were lower than in Q3’24. FD-SOI technology is a key enabler for AI-driven consumer and industrial IoT applications due to its unique power efficiency, performance, thermal management and reliability advantages.

Sales of Imager-SOI wafers for 3D imaging applications are down year-on-year, reflecting the phase out of this product.

First nine months FY’25 consolidated revenue (unaudited)

	9M’25	9M’24	*9M’25/9M’24*

(Euros millions)			*change reported*	*chg. at const. exch. rates & perimeter*

Mobile Communications	326	388	*-16%*	*-18%*
Automotive & Industrial	84	119	*-29%*	*-31%*
Edge & Cloud AI	154	133	*+15%*	*+16%*

Revenue	564	641	*-12%*	*-13%*

Consolidated revenue reached 564 million Euros in 9M’25, down 13% at constant exchange rates and perimeter compared to 641 million Euros in 9M’24.

Overall, the decrease in Soitec’s 9M’25 revenue essentially reflects lower volumes in both RF-SOI and Power-SOI wafers, partly offset by strong performances in POI, Photonics-SOI and Imager-SOI wafers.

Mobile Communications revenue reached 326 million Euros in 9M’25 (58% of total revenue), down 18% at constant exchange rates and perimeter compared to 9M’24, with significant improvement quarter after quarter over FY’25.

Automotive & Industrial revenue amounted to 84 million Euros in 9M’25 (15% of total revenue), down 31% at constant exchange rates and perimeter compared to 9M’24, reflecting the current weakness of the automotive market.

Edge & Cloud AI revenue reached 154 million Euros in 9M’25 (27% of total revenue), up 16% at constant exchange rates and perimeter compared to 9M’24, supported by strong growth of photonics SOI products.

FY’25 outlook

Soitec expects FY’25 revenue to be down high single digit year on year, at constant exchange rates and perimeter (compared to flat revenue previously) as a couple of customers requested to put some deliveries on hold on the back of worsening conditions in the Automotive and Consumer markets. This implies strong sequential growth in Q4’25, primarily driven by the continued recovery in RF-SOI wafer sales supported by some seasonal restocking. Additionally, Soitec will continue to benefit from strong demand for Photonics-SOI products and the growing adoption of POI.

Soitec is managing FY’25 EBITDA¹margin² to be between 32% and 34%.

FY’26 outlook

With the lack of visibility on our end markets for now, it is too early to provide specific guidance for fiscal year 2026. Given current market conditions, Soitec expects at this stage quite limited growth for fiscal year 2026.

Q3’25 key events

Divestment of Dolphin Design’s main businesses

Dolphin Design’s mixed-signal IP activities have been acquired on November 5^th, 2024, by Jolt Capital, a private equity firm specializing in European deeptech investments. Dolphin Design’s ASIC activities were sold to NanoXplore, a major player in SoC and FPGA semiconductor design, on December 30^th, 2024.

Dolphin Design, acquired by Soitec in 2018, has long been at the forefront of delivering cutting-edge semiconductor design solutions in mixed-signal IP and ASICs.The sale of Dolphin Design’s two main business activities will support Soitec’s focus on strategic development and growth opportunities in its core advanced semiconductor materials business.

Following these operations, Dolphin Design revenue will no longer be reported from Q4’25 onwards, and will have no impact on Soitec financial statements from FY’26.

Appointment of Frédéric Lissalde as Chairman of the Board

During the meeting of the Board of Directors held on November 20^th, 2024, upon recommendation of the Compensation and Nominations Committee, Frédéric Lissalde, who has been Director since the Annual General Meeting held on July 23^rd, 2024, was appointed as Chairman of the Board of Directors as of March 1^st, 2025, for the remainder of his term of office as Director.

Soitec to collaborate with GlobalFoundries in the production of high-performance RF-SOI semiconductors

On December 4^th, 2024, Soitec announced its commitment to deliver 300mm RF-SOI substrates to GlobalFoundries (GF) for the production of GF’s leading RF-SOI technology platforms, including the company’s most advanced RF solution, 9SW. Building on the longstanding relationship between the two companies, this commitment will ensure the supply of advanced RF-SOI engineered substrates required for 5G, 5G-Advanced, Wi-Fi, and other smart mobile device Radio Frequency Front-End (RFFE) modules. To support advanced connectivity, GF’s 9SW RF-SOI platform with its superior switching, low-noise amplifiers (LNA) and logic processing capabilities offers significant advantages and value for premium smartphones by delivering enhanced RF performance, improved power efficiency and scalability. These features are critical for ensuring a superior user experience in high-end devices.

Soitec continues its collaboration with MIT’s Microsystems Technology Laboratories, thereby strengthening its presence in the United States

On December 12^th, 2024, Soitec announced the continuation of its research collaboration with the Microsystems Technology Laboratories (MTL) of the Massachusetts Institute of Technology (MIT). This agreement covers research in innovative semiconductor materials for diverse applications, including mobile communications, power devices, sensors and quantum computing. Soitec is thereby further solidifying its presence in the North American semiconductor sector, intensifying its efforts amidst favorable industrial and regulatory dynamics supporting semiconductor development.

# # #

Analysts conference call to be held in English on Thursday 6^thFebruary at 8:00 am CET.

To listen this conference call, the audiocast is available live and in replay at the following address: https://channel.royalcast.com/soitec/#!/soitec/20250206_1

# # #

Agenda

FY’25 results are due to be published on May 27^th, 2025, after market close.

# # #

Disclaimer

This document is provided by Soitec (the “Company”) for information purposes only.

The Company’s business operations and financial position are described in the Company’s 2023-2024 Universal Registration Document (which notably includes the Annual Financial Report) which was filed on June 5^th, 2024, with the French stock market authority (Autorité des Marchés Financiers, or AMF) under number D.24-0462, as well as in the Company’s 2024-2025 half-year financial report released on November 20^th, 2024. The French versions of the 2023-2024 Universal Registration Document and the 2024-2025 half-year financial report, together with English courtesy translations for information purposes of both documents, are available for consultation on the Company’s website (www.soitec.com), in the section Company – Investors – Financial Reports.

Your attention is drawn to the risk factors described in Chapter 2.1 (Risk factors and controls mechanism) of the Company’s 2023-2024 Universal Registration Document.

This document contains summary information and should be read in conjunction with the 2023-2024 Universal Registration Document and the 2024-2025 half-year financial report.

This document contains certain forward-looking statements. These forward-looking statements relate to the Company’s future prospects, developments and strategy and are based on analyses of earnings forecasts and estimates of amounts not yet determinable. By their nature, forward-looking statements are subject to a variety of risks and uncertainties as they relate to future events and are dependent on circumstances that may or may not materialize in the future. Forward-looking statements are not a guarantee of the Company’s future performance. The occurrence of any of the risks described in Chapter 2.1 (Risk factors and controls mechanism) of the 2023-2024 Universal Registration Document may have an impact on these forward-looking statements.

The Company’s actual financial position, results and cash flows, as well as the trends in the sector in which the Company operates may differ materially from those contained in this document. Furthermore, even if the Company’s financial position, results, cash-flows and the developments in the sector in which the Company operates were to conform to the forward-looking statements contained in this document, such elements cannot be construed as a reliable indication of the Company’s future results or developments.

The Company does not undertake any obligation to update or make any correction to any forward-looking statement in order to reflect an event or circumstance that may occur after the date of this document.

This document does not constitute or form part of an offer or a solicitation to purchase, subscribe for, or sell the Company’s securities in any country whatsoever. This document, or any part thereof, shall not form the basis of, or be relied upon in connection with, any contract, commitment or investment decision.

Notably, this document does not constitute an offer or solicitation to purchase, subscribe for or to sell securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from the registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”). The Company’s shares have not been and will not be registered under the Securities Act. Neither the Company nor any other person intends to conduct a public offering of the Company’s securities in the United States.

# # #

About Soitec

Soitec (Euronext – Tech Leaders), a world leader in innovative semiconductor materials, has been developing cutting-edge products delivering both technological performance and energy efficiency for over 30 years. From its global headquarters in France, Soitec is expanding internationally with its unique solutions, and generated sales of 1 billion Euros in fiscal year 2023-2024. Soitec occupies a key position in the semiconductor value chain, serving three main strategic markets: Mobile Communications, Automotive and Industrial, and Edge & Cloud AI (previously Smart Devices). The company relies on the talent and diversity of its 2,300 employees, representing 50 different nationalities, working at its sites in Europe, the United States and Asia. Soitec has registered over 4,000 patents.

Soitec, SmartSiC™ and Smart Cut™ are registered trademarks of Soitec.

For more information: https://www.soitec.com/en/ and follow us on X: @Soitec_Official

# # #

Appendix

Consolidated revenue per quarter (Q3’25 unaudited)

Quarterly revenue	Q1’24	Q2’24	Q3’24	Q4’24	Q1’25	Q2’25	Q3’25	9M’24	*9M’25*
(Euros millions)

Mobile Communications	89	169	130	222	48	124	154	388	*326*
Automotive & Industrial	37	38	44	44	26	33	25	119	84
Edge & Cloud AI	31	37	65	70	46	61	47	133	*154*

Revenue	157	245	240	337	121	217	226	641	*564*

Change in quarterly revenue	Q1’25/Q1’24		Q2’25/Q2’24		Q3’25/Q3’24		*9M’25/9M’24*
	Reported change	Organic change¹	Reported change	Organic change¹	Reported change	Organic change¹	Reported change	Organic change¹
(vs. previous year)

Mobile Communications	-45%	*-46%*	-27%	*-25%*	+18%	*+11%*	-16%	*-18%*
Automotive & Industrial	-29%	*-31%*	-13%	*-11%*	-43%	*-47%*	-29%	*-31%*
Edge & Cloud AI	+49%	*+47%*	+62%	*+66%*	-28%	*-30%*	+15%	*+16%*

Revenue	-23%	*-24%*	-11%	*-9%*	-6%	*-10%*	-12%	*-13%*

At constant exchange rates and comparable scope of consolidation (there was no scope effect in Q1’25 and Q2’25 vs. Q1’24 and Q2’24 – in Q3’25 Soitec sold Dolphin Design’s mixed signal IP activities on November 5^th, 2024)

# # #

¹ The EBITDA represents operating income (EBIT) before depreciation, amortization, impairment of non-current assets, non-cash items relating to share-based payments, provisions for impairment of current assets and for contingencies and expenses, and disposals gains and losses. This alternative indicator of performance is a non-IFRS quantitative measure used to measure the company’s ability to generate cash from its operating activities. EBITDA is not defined by an IFRS standard and must not be considered an alternative to any other financial indicator

² EBITDA margin = EBITDA from continuing operations / Revenue

³ The scope effect is related to the divestment of Dolphin Design’s mixed signal IP activities which was completed on November 5^th, 2024

Attachment

Soitec Q3’25 revenue VUK 05 02 25_Published

The MIL Network –

February 6, 2025

MIL-OSI Europe: Foreign digital interference – Publication of the VIGINUM report on information manipulation (05.02.25)

Source: Republic of France in English
The Republic of France has issued the following statement:

Amid a surge in attempts to interfere with European election processes, specifically via digital platforms, the Ministry for Europe and Foreign Affairs and the Minister Delegate for Europe are particularly committed to supporting our affected partners and using all the necessary tools at the European and national levels to safeguard the integrity of elections.

In this regard, the Service for Vigilance and Protection against Foreign Digital Interference (VIGINUM) published a report today on the particularly egregious examples of information manipulation seen in the 2024 Romanian presidential election. The report analyzes the methods used on TikTok to artificially promote certain content and exploit influencers. It assesses the risk of such methods being used in France.

France supported the European Commission’s measures vis-à-vis TikTok in such cases and stands with Romania to combat foreign digital interference targeting our democracies. Minister Delegate for Europe Benjamin Haddad will be in Bucharest on February 5 and 6 to discuss these subjects.

France calls for the swift and full implementation of the Digital Services Act (DSA) as well as the completion of current investigations into certain digital platforms, as requested in a letter co-signed by 11 other Member States that was sent to the Commission last week.

MIL OSI Europe News –

February 6, 2025
MIL-OSI United Kingdom: Net Zero Council relaunched to supercharge Clean Energy Superpower Mission
Source: United Kingdom – Executive Government & Departments

Government relaunches an expanded Net Zero Council, bringing together business, civil society and local authorities to drive the clean energy transition as part of the Plan for Growth.
New Net Zero Council is tasked with ensuring the clean energy transition drives economic growth and creates jobs as part of government’s Plan for Change

brings together a broader range of representatives from organisations including World Wildlife Fund, Design Council and Local Government Association, alongside others including Siemens, HSBC and Nestle

Council to deepen public-private partnership to maximise economic opportunities for the UK

Leaders from major businesses, civil society and local authorities have backed the government’s pro-growth and clean energy superpower missions following a meeting of the relaunched Net Zero Council (5 February), with a plan to help sectors accelerate to net zero and support thousands of jobs.

Co-chaired by Energy Secretary Ed Miliband and Co-operative Group CEO Shrine Khoury-Haq, the Council brings together leaders from some of the UK’s biggest businesses, charities and organisations, as well as trade unions and local authorities.

New members include representatives from the Trades Union Congress and Design Council, bringing expertise of green skills and jobs creation to the council to support the government’s mission for clean energy growth on the path to net zero.

This broader coalition strengthens the Council’s ability to unlock the opportunities of decarbonisation, with major industry players such as Siemens, Nestle and HSBC returning to the Council alongside new members including the Local Government Association and Aviva Investors to seize the growth opportunities of decarbonising the economy.

The first meeting focused on agreeing the Council’s priorities for 2025/26, which will include:

a new focus on providing expert input to inform government strategies relating to net zero

supporting the development and delivery of sector roadmaps, helping businesses to develop transition plans and investors to identify opportunities

supporting small and medium-sized enterprises to decarbonise while maximising the benefits of the transition

informing the government’s approach to public engagement and developing products to support public participation with net zero

A new Delivery Group will oversee the Council’s workstreams and help to drive progress.

The relaunch reflects a new mission-led approach, ensuring government actively engages with a broad range of industry leaders and stakeholders to drive progress towards net zero. This will support the Plan for Change to help deliver new jobs and economic opportunities while ensuring a fair transition.

Energy Secretary Ed Miliband said:

Businesses and leaders across our country recognise that clean power and accelerating towards net zero represents the economic opportunity of the 21st century.

It is one which will protect bills, create jobs, and tackle the climate crisis. This Council is about mission-driven leadership, bringing government, business and civil society together to turn ambition into action.

By working in partnership, we can drive the investment, innovation and industrial transformation needed to make the UK a clean energy superpower.

Climate Minister Kerry McCarthy said:

The relaunch of the Net Zero Council comes at a critical moment in the UK’s journey towards a clean energy future.

Bringing together leaders from across business, finance and civil society, the Council will play a crucial role in accelerating net zero ambitions, driving economic growth and creating thousands of jobs.

Shirine Khoury-Haq, CEO of The Co-operative Group, said:

Working urgently for a faster, fairer transition to a greener, cleaner economy is an absolute imperative. For the sake of our planet and for every community here in the UK and around the globe, it’s crucial we work together to unlock the significant opportunities the transition will bring for economic growth too.

I’m therefore delighted to be continuing in my role as Co-chair of the Net Zero Council. The science couldn’t be clearer that we must act collectively and decisively, and co-operation between businesses, civic society and government is what we need now more than ever.

While the Council itself is made up of senior leaders from key sectors, it is committed to an inclusive engagement strategy, ensuring a broad range of voices contribute to net zero delivery beyond formal members. This approach will ensure that businesses, communities and experts across the UK have opportunities to inform strategy, share best practices and help shape the transition.

Statements from Net Zero Council and Delivery Group members

Bev Cornaby, Director of the UK Corporate Leaders Group (CLG UK), said:

The relaunch of the Net Zero Council marks an important step in strengthening collaboration between government, business, civil society, and local government to accelerate the UK’s transition to net zero. Businesses are ready to lead, invest, and innovate, but they need the right policy framework and long-term clarity to unlock the full potential of a clean, competitive economy. The UK Corporate Leaders Group welcomes the opportunity to bring business leadership and ambition to the Council, supporting accelerated delivery and ensuring that government strategies are informed by real-world insights and that industry can play a central role in delivering a net zero future.

David Thomas, Chief Executive of Barratt Redrow, said:

I’m pleased to join the Net Zero Council at a critical time for the environment and as we scale up to build the new high quality, energy efficient homes the UK desperately needs.

Government has set out its clear ambition to shift to clean energy, meanwhile the homebuilding industry is making good progress towards delivering net zero homes and places – but we must unite behind one plan and work together to build a sustainable future.

Minnie Moll, Chief Executive of the Design Council, said:  

I am honoured to join the Net Zero Council to contribute to this crucial national mission and represent the voice of design as a transformative tool for innovation. Design has the power to cut across sectors, fuelling innovative thinking, embracing circular approaches, and turning the challenges of climate change into opportunities for economic growth, improved quality of life, and a cleaner, more sustainable future for all. We are excited to bring our expertise to this ambitious mission and support the UK’s leadership in becoming a clean energy superpower.

John Scanlon, Chief Executive Officer for SUEZ recycling and recovery UK said:

I am delighted to bring SUEZ’s expertise in the circular economy to the Net Zero Council. Often unseen, the work of the waste and resources sector sits at the core of the delivery of the Industrial Strategy – at the same time as we are taking steps to decarbonise our own operations, the sector is helping other sectors to decarbonise by providing secondary resources for manufacturing, and energy and fuels for transport, homes and industry. A resource efficient economy is a thriving economy and I’m looking forward to working in partnership with industry peers to advance the Government’s mission to become a Clean Energy Superpower.

Ian Simm, Founder & Chief Executive, Impax Asset Management said:

It’s very encouraging to see the Net Zero Council relaunched and I welcome the decision to expand its membership to include representatives from civil society and local government. The Council has a vital role to play at a moment when pivotal decisions are being made that will decide the future shape of the UK economy, not least on housing, infrastructure, and energy supply. I look forward to providing an investor’s view regarding how the Council can maximise its impact and effectiveness, both in helping to shape the shift to a net-zero economy and in supporting the Government’s broader and much needed growth agenda.

 Jennifer Beckwith, Senior Manager, CBI, said:

Accelerating to net zero and achieving growth is society’s defining economic challenge – one that can only be achieved through industry and government partnership. Inaction on the transition is costlier than action and business wants to play its part in achieving sustainable growth.

Increasing decarbonisation beyond the power sector is the big opportunity to grow clean energy markets, scale infrastructure and advance green technologies. The government leading collaboration across business and finance sectors powerfully signals to investors a focus on delivery that can help get capital moving.

Ed Lockhart, Convenor, Broadway Initiative, said:

UK businesses need certainty, including on the transition to a clean energy future, to invest, grow and ultimately improve living standards.

By launching the Net Zero Council aligned to the clean energy mission, the Government is providing a much-needed platform for the business community, financial institutions, civil society and Government to work in partnership on a shared and inclusive long-term plan.

The Broadway Initiative looks forward to bringing business and environmental organisations together to make the most of this opportunity.

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Published 5 February 2025
MIL OSI United Kingdom –
February 6, 2025
MIL-OSI United Kingdom: Help make Salford pharmacies better

Source: City of Salford

The Salford Health and Wellbeing Board is working on a new Pharmaceutical Needs Assessment (PNA) for local Salford pharmacies.

Residents across Salford are being asked to share their experiences. What services do you currently use at local pharmacies, and what services do you need? Are some of the questions being asked.

The Pharmaceutical Needs Assessment (PNA) examines the current provision of pharmaceutical services in Salford and whether this meets the population’s needs.

The assessment helps identify any potential gaps in pharmaceutical service delivery. For example, NHS England will use the PNA to help decide whether to approve applications for new pharmacies in Salford.

Salford Health and Wellbeing Board is conducting a new Pharmaceutical Needs Assessment (PNA) for Salford, which involves gathering feedback from the public regarding pharmacy services.

The PNA is a legal requirement for the Salford Health and Wellbeing Board. However, residents sharing opinions can help ensure that pharmacy services in Salford are tailored to residents’ needs.

Responses will assist in identifying any gaps in services and could influence future decisions regarding changes in pharmacy provision.

Councillor Mishal Saeed, Executive Support Member for Social Care and Mental Health, said: “Our local pharmacies are essential pillars of our community, providing invaluable care and support through services like NHS Pharmacy First and the NHS Minor Ailment Scheme. With many pharmacies offering weekend access and free consultations for common illnesses, we are making healthcare more accessible than ever.

Pharmacists are on hand to address medication concerns, promote healthy living, and offer vital services such as contraception and smoking cessation support. By collaborating and promoting initiatives within our networks, we can enhance the support for local pharmacy services in Salford and ensure that every member of our community has access to the care they need.

We would greatly appreciate your support in promoting the survey within your networks, community groups and digital channels to encourage as many responses as possible. Your contribution will be invaluable to local pharmacy services in Salford.”

Residents looking to share their feedback and have their say should visit, www.salford.gov.uk/pharmacysurvey.

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Date published

Wednesday 5 February 2025

Press and media enquiries

MIL OSI United Kingdom –

February 6, 2025
MIL-OSI United Kingdom: New climate plan set to be scrutinised
Source: City of Plymouth

A range of new measures designed to help reduce greenhouse gas emissions throughout Plymouth are set to be discussed by members next week.

The latest incarnation of the Net Zero Action Plan (NZAP), a three-year delivery strategy that sets out the City Council’s response to its pledge to reach net zero, will be debated by the Natural Infrastructure and Growth scrutiny panel on Wednesday 12 February.

While detailing updates on a number of ongoing actions like the continuing electrification of fleet vehicles, as well as the retro-fitting of low-carbon heating methods on buildings, new initiatives are also in the pipeline.

These include:
- Beginning the delivery of the externally-funded £400m heat network which will see major buildings in the city centre with the waterfront connected and heated by a central source
- Submitting an expression of interest for participation in the Department of Transport’s e-scooter trial scheme
- Support the delivery of the UK’s first end-to-end commercial waste recycling plant for electric vehicle batteries in Plymouth
- Following the lead of other similar-sized cities by exploring the feasibility, potential role and benefits of emissions-based vehicle charging tariffs.
Councillor Tom Briars-Delve, Cabinet Member for the Environment and Climate Change, will present the plan to colleagues.

Tom said: “This latest version of the Net Zero Action Plan is bold and brings forward a raft of measures that will make great strides towards our net zero ambitions.

“Although previous plans have also been effective, this time we have gone back to the data and thus have an increased focus on the city’s most high emitting sectors, namely transport and buildings.

“I do understand that for some people, parts of this plan may seem ambitious but ambitious is what we must be if we are to ensure the environmental sustainability of our city and planet.”

The NZAP covers two areas – commitments to reduce emissions from Council-owned facilities and also how the Council can use its influence to help the city as a whole move towards net zero.

The Council has been producing the plan with annual updates since it first declared a climate emergency in 2019, and through actions already completed has reduced its own carbon emissions by 18.1 per cent between 2019 and 2022.

Following its appearance at the cross-party scrutiny committee, any recommendations will be considered before the NZAP is voted on by Full Council on 17 March.
MIL OSI United Kingdom –
February 6, 2025
MIL-OSI United Kingdom: Isle of Wight Council unveils 2025/26 budget amid financial pressures 5 February 2025 Isle of Wight Council unveils 2025/26 budget amid financial pressures

Source: Aisle of Wight

In the face of escalating costs and funding challenges, the Isle of Wight Council has today (Wednesday) unveiled its budget for 2025/26, with a spotlight on community protection and essential improvements.

The draft budget seeks to tackle the substantial pressures on public finances while safeguarding the wellbeing of residents and preserving the essential frontline services that many Islanders depend on.

The financial climate for local government remains tough, with costs climbing faster than income and funding. The council faces the daunting task of additional spending of £15.8 million in children’s services and adult social care next year, merely to maintain services at existing levels.

This significant increase is driven by rising demand and the need to ensure vulnerable residents receive the care and support they require.

In response, the council proposes a five per cent council tax increase, including two per cent specifically for adult social care. This is in line with the majority of councils across the country, which are facing similar pressures, although some authorities are contemplating increases as high as 15 to 25 per cent. The Isle of Wight Council is striving to keep increases as low as possible.

The council’s strategy relies on careful use of reserves to manage its underlying budget deficit over time. However, it’s crucial to maintain these reserves at responsible levels to ensure financial stability and to be able to continue providing services at sustainable levels.

Of the £1.5 million savings needed next year, efficiencies and income generation will deliver the required savings without cutting services. This includes streamlining operations and exploring new revenue streams to maintain service levels.

After listening to the needs of local businesses and residents, the council is proposing to freeze parking charges at their current levels for the second consecutive year. This measure aims to alleviate the financial strain on household budgets and support the high street. Additionally, crossing charges on the floating bridge will remain unchanged.

The council will also continue to invest in highway drainage schemes to reduce flooding and fund repairs to footpaths and bridleways damaged by the recent winter storms. These investments are crucial for maintaining safe and accessible infrastructure across the Island. A key highlight of the budget is the investment in schemes to support coastal protection, crucial for protecting the homes and livelihoods of residents in vulnerable coastal regions.

This includes repairs or improvements to promenades, seawalls, railings and groyne refurbishment, which are essential for mitigating the impacts of coastal erosion and climate change.

The budget also includes improvements at Beaulieu House, the children’s disability residential and respite home in Newport, ensuring it can continue to provide essential services and support to those in need. These upgrades will enhance the facility’s capacity to deliver high-quality care and support. Meanwhile, the council is introducing schemes specifically designed to help young people who are leaving the care system find stable and long-term housing options.

The budget also prioritises responsible repairs and renewals in public spaces. By maintaining and improving the public realm, the council aims to create a safe, functional, and welcoming environment for all residents and visitors. This includes replacing play equipment, litter bins and benches where necessary.

In addition, the council has planned investments in capital schemes for school maintenance and adaptations to disabled residents’ homes as part of a £13 million capital programme. These projects will improve educational facilities across the Island and enable disabled residents to live independently in their own homes.

Furthermore, there is more planned investment in the Gouldings care home in Freshwater and the Parklands Dementia Hub in Cowes, building on the significant improvements already made in these important facilities.

Council leader, Councillor Phil Jordan, said: “Despite the challenging financial climate, our commitment to protecting and improving our community remains steadfast. We are dedicated to ensuring our community continues to thrive, even in the face of economic pressures.

“One of our top priorities is the protection of our coastal areas. By investing in coastal infrastructure, we are taking proactive steps to safeguard our coastal regions from erosion and flooding. This investment goes beyond infrastructure; it’s about securing the homes and livelihoods of our residents.

“The council continues to advocate for fair funding for the Island from the government. By maximising spend from minimal funding, keeping charges down, investing in capital schemes, balancing the budget responsibly, using reserves wisely, and re-structuring where possible, we are working hard to minimise any adverse impacts on our residents.

“This draft budget is about balancing our financial responsibilities with the needs of our community, and I believe it strikes that balance effectively.”

Looking ahead, the council acknowledges the need for ongoing savings and has forecast a savings requirement of £2.5 million for 2026/27 and £2 million per annum for the subsequent years, to ensure long-term financial sustainability.

The budget will be considered by the council’s Cabinet on Thursday, 13 February, and by Full Council on Wednesday, 26 February.

MIL OSI United Kingdom –

February 6, 2025
MIL-OSI United Kingdom: Residents can now sign up for this year’s garden waste collections in Sunderland.

Source: City of Sunderland

Registration is now open for garden waste collections, and residents with a garden are being encouraged to sign up before Friday 28 February to guarantee receiving all 17 fortnightly collections between March and November 2025.

This year garden waste will be collected from Tuesday 25 March, with a subscription fee of £38.50. Anyone who signs up after Friday 28 February may not receive all the collections, but the price will remain the same.

Garden waste collected from brown bins is taken to a facility where its first shredded and then naturally processed into compost.

There are many benefits to recycling your garden waste. These include cutting disposal costs while turning waste into a useful and valuable soil conditioner, for landscaping and gardening. It’s also a natural method of processing material which prevents unnecessary waste and helps reduce your carbon impact.

Sunderland City Council’s Cabinet for the Environment, Net Zero and Transport, Councillor Lindsey Leonard said: “By turning garden waste into compost, you’re not only helping the environment, but also supporting a greener, more sustainable future for everyone.”

“While signing up for the collections is optional, garden waste collections play a vital role in helping our community recycle more and reduce the amount of waste sent for energy recovery. It’s more convenient for residents to allow us to dispose of the garden on your behalf.”

To sign up and find out more information visit www.sunderland.gov.uk/gardenwaste

Use the ‘find my bin day’ service to check when to put your garden waste bin out for collection at www.sunderland.gov.uk/bindays

If you currently don’t have a garden waste bin or you would like to order an additional garden waste bin, call 0191 520 5550 or visit www.sunderland.gov.uk/gardenwaste

MIL OSI United Kingdom –

February 6, 2025
MIL-OSI United Kingdom: London Assembly Member Leonie Cooper welcomes Government support for Super Reservoir in Abingdon.

Source: Mayor of London

Leonie Cooper, Labour Group spokesperson for Environment, has welcomed Government plans to build a new super reservoir in Abingdon, Oxfordshire.

The proposals, announced by Chancellor Rachel Reeves today, would see nine new reservoirs built, as the Government has agreed for water companies to invest £7.9b to improve the UK’s water infrastructure.

When complete, the Abingdon Reservoir is set to produce up to 270 million litres of water per day, providing additional water supplies for millions of people across London and the South-East.

Expanding the UK’s reservoir capacity will secure safe, high-quality water for several generations to come, and demonstrates the government’s commitment to kickstarting economic growth by investing in the UK’s water infrastructure.

Assembly Member Cooper has campaigned for the reservoir to be built since 2016 when first elected, raising the issue at City Hall. She has welcomed the progress, saying this will be of enormous benefit in providing clean water for Londoners in the decades to come.

London Assembly Labour environment spokesperson Leonie Cooper AM said:

“London has some of the highest quality drinking water in the world. For nearly 15 years more than 99.95 per cent of tests taken from Londoners’ taps have met the stringent standards set by Europe and the UK.

“I am delighted with the plan to go ahead with the long-planned Abingdon Reservoir project. This will be of enormous benefit to Londoners and will provide clean water for decades to come.

“I will continue to campaign for the water companies and central government to make sure that construction of the Abingdon Reservoir project is accelerated to 2035 – two years sooner than planned.”

ENDS 

MIL OSI United Kingdom –

February 6, 2025
MIL-OSI Security: Met officers tackle drug supply in Kingston

Source: United Kingdom London Metropolitan Police

Local and specialist Met officers were involved in raids at six properties early on Wednesday, 5 February as part of an investigation into drug dealing on the Cambridge Road Estate and more widely across Merton.

Six arrests were made as part of the Met’s Clear, Hold, Build strategy, which is designed to reclaim and rebuild neighbourhoods affected by serious and organised crime, focusing on what matters most to locals.

Superintendent Josh Laughton, the Met’s neighbourhood policing lead for Kingston, said: “Today’s operation followed months of planning by local officers, who have been listening to people on the Cambridge Road Estate to understand their concerns.

“We know drug dealing is often linked to other offences such as violent crime and anti-social behaviour. By taking targeted action, we aim to reduce offending across the board.

“The service we provide to Londoners is at the heart of everything we do. Across the Met, we remain focused on tackling the crimes that matter most to communities to reduce offending and improve neighbourhoods.”

One of the raids was carried out at a fast-food restaurant in Surbiton Crescent. The other six addresses were residential properties. Officers seized drugs, including heroin and cocaine.

The three men, one woman and two teenage boys, who were arrested during the operation, remain in custody.

Clear, Hold, Build involves the Met working with partner agencies and communities to make areas safer, and is proven to drive down crime.

It focuses on taking out the criminal gangs that make the lives of some Londoners a misery by fuelling violent and organised crime.

Kingston Council’s Portfolio Holder for Adult Social Care and Health, including community safety, Councillor Sabah Hamed said: “Kingston is one of London’s safest boroughs, and this work reflects our continued commitment to working with the police and our partners to make it even safer for everyone.

“We are committed to working with the local communities most impacted by crime to address their concerns, improve confidence in reporting issues and safeguard those who are vulnerable.”

Targeted neighbourhood policing delivered through Clear, Hold, Build has already been proven to have a positive impact on communities across London.

The framework comprises of three parts: Clear, which sees police pursue gang members; Hold, where police maintain a grip on the area to prevent other criminal groups from taking control; and Build, which works to help the community become less susceptible to the draw of organised crime groups.

In Northumberland Park and Edmonton, an intensification resulted in 424 arrests and recent data shows violent crime in the area has fallen to its lowest level in three years.

Improved neighbourhood policing was one of the reasons the Met was removed from special measures in January. His Majesty’s Chief Inspector of Constabulary and Fire & Rescue Services also praised improvements to call handling, child exploitation, and public protection.

MIL Security OSI –

February 6, 2025
MIL-OSI Economics: coincapitals.net and easyinvestingpro.com: BaFin warns against websites

Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

The operators of the websites appear under the names CoinCapitals and EasyInvestingPro, without using a legal form. They do not provide any information about their place of business.

Recently, a large number of websites with almost identical content have already come to light, and BaFin has also issued warnings about these. In the vast majority of, cases the presentation on the websites begins with the following sentence: “Step into the trading arena with confidence & [name of website]”. However, this introductory sentence has been changed in some cases, as on the website easyinvestingpro.com, to: “Step into the world of trading with [name of website]” or “Step confidently into the world of trading with [name of website]”. However, the rest of the content on the websites has remained essentially the same.

Anyone offering financial or investment services or crypto-asset services in Germany requires a license from BaFin. However, some companies offer such services without the required license. Information on whether a particular company is authorized by BaFin can be found in the company database.

The information provided by BaFin is based on Section 37 (4) of the German Banking Act (KWG) and Section 10 (7) of the German Crypto Markets Supervision Act (KMAG).

Please be aware:

BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

MIL OSI Economics –

February 6, 2025
MIL-OSI Economics: Global Trade Verein: BaFin warns against website gtv-holdings.com

Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

The German Federal Financial Supervisory Authority (BaFin) warns against offers on the website gtv-holdings.com. According to its findings, the Global Trade Verein, Zurich, Switzerland, offers financial and investment services there without a license.

Der Betreiber tritt auf seiner Website unter der Bezeichnung Global Trade Verein auf, ohne Nennung einer Rechtsform. Unter diesem Namen lässt sich kein Eintrag im Schweizer Handelsregister finden.

The operator appears on its website under the name Global Trade Verein, without mentioning a legal form. No entry can be found under this name in the Swiss commercial register.

Anyone offering financial or investment services or crypto-asset services in Germany requires a license from BaFin. However, some companies offer such services without the required license. Information on whether a particular company is authorized by BaFin can be found in the company database.

The information provided by BaFin is based on Section 37 (4) of the German Banking Act (KWG) and Section 10 (7) of the German Crypto Markets Supervision Act (KMAG).

Please be aware:

BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

MIL OSI Economics –

February 6, 2025
MIL-OSI United Kingdom: Redeveloped Derby Market Hall built with accessibility and inclusion as key priority

Source: City of Derby

When the newly redeveloped Derby Market Hall opens in the spring, it will be one of the most accessible and inclusive public buildings in Derby and the wider region.

Through thoughtful design with access and inclusion as a key priority, the £31.5m transformation of the historic building, part funded with £9.43m from the Government’s Future High Street Fund (FHSF), will ensure that the Market Hall and its surrounding areas, including Osnabruck Square, are easily accessible and inclusive to all visitors who can navigate the space with ease.

The redevelopment includes a new lift to provide seamless access between the ground and first floors. The flooring has also been levelled to facilitate step free access, removing any barriers, and creating an inclusive public space.

A key addition to the Market Hall’s new facilities is the installation of a changing places toilet, which is the fifth in Derby’s city centre. These larger than standard toilets are equipped with extra features such as hoist, changing bed, shower and height adjustable wash basin.

With accessibility and inclusion at the core of the Market Hall’s restructure, the Market Hall’s colours remain the same but have now been muted to support visually impaired visitors. Additionally, the lighting has been designed at the correct lumens to improve visibility. Fixtures, fittings and furniture have also been specifically coloured contrasted to enhance accessibility.

Beyond the Market Hall, Osnabruck Square has been transformed with accessibility and inclusion in mind. Featuring new inclusive benches with arm rests to assist with getting on and off, the outside space will also be accessible. A modern linear drainage system has also been installed to remove surface water, ensuring a smooth experience for disabled people.

Additionally, Osnabruck Square will also feature three designated blue badge parking spaces, making it easier for blue badge holders to access the Market Hall and surrounding areas.

Councillor Nadine Peatfield, Leader of the Council, and Cabinet Member for City Centre, Regeneration, Strategy and Policy said:

Accessibility and inclusion are at the heart of our work in the city centre and beyond. I am so proud that accessibility features have been key priorities in the redevelopment of the Market Hall from the beginning through to construction.

Derby is an inclusive city for all, and the new features available at the Market Hall sets a new benchmark for regeneration and development projects both in Derby and the wider region. We hope that this space will be welcoming for everyone, and I am looking forward to welcoming visitors to the inclusive and accessible Market Hall when it opens in Spring 2025.

The Market Hall redevelopment is a £31.5m project part funded with £9.43m from the Government’s Future High Street Fund (FHSF). It is in the second phase of the transformation, focusing on refurbishing the interior and developing the public space outside at Osnabruck Square.

Located at the heart of the City Centre, linking Derbion and St Peter’s Quarter with the Cathedral Quarter and Becketwell, the new Market Hall will play a key role in widening the diversity of the City Centre and will generate £3.64m for the local economy every year.

MIL OSI United Kingdom –

February 6, 2025
MIL-OSI Security: Boy convicted of murdering 15-year-old Deshaun James-Tuitt

Source: United Kingdom London Metropolitan Police

A boy has been convicted of murdering 15-year-old Deshaun James-Tuitt.

Just before 21:00hrs on Thursday, 4 August 2022, officers encountered the victim in Highbury Fields, Islington. He ran towards them, saying: “Officer, I’ve been stabbed.”

Despite the efforts of emergency services to save him, Deshaun died in hospital later that night.

On Wednesday, 5 February, 2025, a jury at the Old Bailey returned a guilty verdict against a 17-year-old, who cannot be named for legal reasons. Six other youths who also stood trial were acquitted of murder.

The court heard how, on the night of the murder, the defendant – then aged 15 – travelled with a group of boys to Highbury Fields on public transport. He wore a face covering, and was armed with a knife. The journey was documented on CCTV footage obtained by investigators.

On the night he died, Deshaun had been at a birthday celebration at the park with a large group of friends.

Upon arrival, the defendant was seen robbing people in the park. This resulted in an argument between him and Deshaun, during which he was stabbed.

Immediately afterwards, the killer fled the scene.

A murder investigation was launched, led by Detective Chief Inspector Joanna Yorke, of the Met’s Specialist Crime Command. She said: “We conducted extensive CCTV enquiries in a bid to identify the youth who had travelled to Highbury Fields that night. Identifying him was a long and complex task.”

The killer was arrested on Wednesday, 10 August, 2022. A mobile phone was forensically downloaded, and investigators recovered a chat from 8 August 2022, where he spoke of stabbing ‘Huntz’ – Deshaun’s nickname.

DCI Yorke added: “The boy denied stabbing Deshaun, but it was clear that he had travelled to Highbury Fields that night, with a covered face, armed and looking for trouble. He knew that, should the need arise, his weapon would be used.

“This theory was supported by the fact that, just minutes after he arrived at the park, Deshaun had been fatally stabbed.

“There is no verdict that can give Deshaun back to his family. I sincerely hope that they find some comfort in today’s verdicts – my thoughts are with them.”

In a statement, Deshaun’s family said: “He [the victim] was my firstborn, and he would have been 18 years old. All my friends that I went to school with have their firstborn children – except me. To the person involved in the stabbing and taking his life: he didn’t deserve to die like that. I had a mental breakdown, and I will never be able to get over this.

“I want you to know that Deshaun was a son, a brother, a grandson, a great grandson, a nephew and a cousin to so many on both sides of the family, so I want you to realise that he was a valuable member of our family. We won’t forgive or forget.

“Deshaun, you can now rest in peace. Hopefully, justice will be served. Not only is Deshaun’s life lost, they who have done the crime will serve the time.”

The killer has been remanded ahead of sentencing on Friday, 25 April, 2025.

MIL Security OSI –

February 6, 2025
MIL-OSI Global: Trump’s Gaza threat shows the Middle East is both safer and more turbulent post-war

Source: The Conversation – Canada – By Kevin Budning, Postdoctoral Research Fellow, National Security, Carleton University

United States President Donald Trump’s suggestion that the U.S. will take over war-torn Gaza and create a “Riviera of the Middle East” has been immediately condemned by the international community, including American allies and adversaries alike.

His threats come just two weeks into the ceasefire deal between Israel and Hamas, and risk undermining the regional diplomatic efforts that made the ceasefire deal possible.

Read more:
Trump wants the US to ‘take over’ Gaza and relocate the people. Is this legal?

Structured in three phases, the ceasefire agreement involves the exchange of Israeli hostages for some Palestinian prisoners; the withdrawal of Israeli forces along the Philadelphi and Netzarim corridors; and the return of vital humanitarian assistance needed to rebuild a war-torn Gaza — not to “clean it out,” as Trump has proposed.

In the post-war landscape — and amid Trump’s threats as he stood next to Israeli Prime Minister Benjamin Netanyahu at the White House — Israel now likely finds itself in a paradoxical situation: both better and worse off.

On the one hand, Israel is more secure than ever before. It has leveraged the shock of the Oct. 7 attacks to reshape the regional balance of power, demonstrating military strength and restoring deterrence.

On the other hand, Israel’s relentless bombardment of Gaza, its unwillingness to yield to public pressure and its perceived disregard for international law and the rules-based order have isolated the country, arguably turning it into a pariah on the world stage.

Capitalizing on catastrophe

Historically, Israel has implemented a counter-insurgency strategy known as “mowing the grass,” designed to weaken its adversaries through limited targeted military campaigns that deliberately stop short of full destruction.

The strategy never intended to address the root causes of the conflict. Rather, it focused on preventing Hamas from launching large-scale, credible attacks against Israel.

Oct. 7 was precisely what “mowing the grass” sought to obviate. The security lapse, however, inadvertently created ripe conditions for Israel to justify — even for a limited time — a much larger and more destructive campaign against Palestinian militant groups. A window had emerged, and Israel seized it.

Israel’s ground and aerial campaign over the past 15 months has significantly weakened the group, although, as demonstrated by a recent show of force, it has not been eliminated.

The Israeli military’s control over key border points, the destruction of tunnels used to carry out attacks and smuggle weapons and the targeted killings of political leaders may make it difficult for Hamas to inflict similar levels of carnage again any time soon.

Hezbollah in the north

Like in Gaza, the Israeli government used Hezbollah’s relentless rocket attacks to justify a separate military campaign deep into Lebanese territory.

In the span of a few weeks, the offensive reportedly killed more than 4,000 Hezbollah fighters, destroyed key weapon caches and critical infrastructure and pushed the group north of the Litani River, approximately 30 kilometres from the Israeli border.

Israel further shocked the world when it simultaneously detonated pagers and walkie-talkies used by Hezbollah militants. This was followed by a string of targeted killings that included Hezbollah’s long-time leader, Hassan Nasrallah, and his then-successor, Hashem Safieddine.

The decapitation of the Hezbollah’s chain of command, combined with its failure to mount an effective counteroffensive, revealed that the group is far weaker than projected. This, in turn, forced Hezbollah to make significant concessions and capitulate to a ceasefire agreement that worked against its interests.

The wider region

The Iran-backed Houthi movement in Yemen also entered the conflict by seizing Israeli and western-owned ships and launching a series of drone and missile attacks toward Israel.

But Israel responded with greater force, showcasing its ability to conduct large-scale missile, drone and aerial strikes thousands of kilometres away in Yemen.

Read more:
Western strikes against Houthis risk igniting a powderkeg in the Middle East

And for the first time, Israel and Iran engaged in direct tit-for-tat escalatory exchanges, sparking fears of an all-out regional war. Israel’s defence systems, backed by allies and neighbouring countries, successfully thwarted hundreds of Iranian missiles.

Israel’s response successfully bypassed Iran’s anti-missile defence systems, sending a decisive message of military superiority. Israel also demonstrated its intelligence advantage by assassinating Hamas leader Ismail Haniyeh in Iran while he was residing at a compound secured by the Islamic Revolutionary Guard Corps.

The collapse of Syria’s Assad regime also created a power vacuum, prompting Israel to conduct hundreds of airstrikes aimed at destroying weapons abandoned by the Syrian army, surface-to-air defence missile systems and to seize strategic territory close to its border.

Israel’s increasing presence within Syria and dominance over the airspace now makes it considerably easier to intercept the supply chain between Iran and Hezbollah.

All for a cost

Israel’s push to deter its adversaries and restore its standing as the regional powerhouse, however, has come at a high price: its reputation.

Diplomatically, some of Israel’s closest allies, including Canada, France and the United Kingdom, have either banned or restricted arms sales to Israel.

The once-universal support for Israel in the U.S. from both the Republican and Democratic parties became considerably strained. The United Nations General Assembly also voted overwhelmingly for the Security Council to consider admitting Palestine as the 194th member — a move viewed by Israel as a reward for Oct. 7.

Israel also faces a public relations crisis at the International Criminal Court, where it is currently on trial for allegedly violating the Genocide Convention in relation to Palestinians in the Gaza Strip. Likewise, the court issued a warrant for Netanyahu and former Defence Minister Yoav Gallant for “intentionally depriving Gazans of food and directing attacks against civilians.”

The ripple effects of Israel’s actions have spilled overseas, affecting much of the world, and especially the younger generations’ public opinion of the conflict.

In the U.S., for example, a Pew Research Report found that Americans under 30 are considerably more likely to sympathize with Palestinians than Israelis. The results are similar in Canada, with youth between the ages of 18 and 24 reporting support for Hamas over Israel by a two-to-one margin.

Is Israel more or less secure?

While Israel’s response to Iran and the “axis of resistance” have positioned the country into a safer, more militarily dominant position than before the war, the consequences of this strategy may be short-lived.

The images from Gaza — the loss of civilian life, displaced families, and starving children with no viable prospect of a future — have shifted public opinion against Israel. This has frayed diplomatic relations with once-dependable allies — although apparently not the U.S — upended the wider Middle East peace process, and fuelled a resurgence of antisemitism, especially on college campuses, not seen since before the Holocaust.

But most of all, Israel’s response to Oct. 7 may unintentionally serve as the most powerful recruitment tool for future cycles of Palestinian violence. To many, especially the youth around the world, it is possible that future violence may come to be viewed as a legitimate form of resistance.

And if that is the case, coupled with the unlikely prospect of Israel permanently deterring Iran and its proxies and with an American president who is in favour of relocating Gaza’s entire population and taking over the territory, Israel could find itself in a more precarious situation than ever before.

The views expressed in this work are those of the author and do not reflect the official positions or opinions of the Government of Canada

– ref. Trump’s Gaza threat shows the Middle East is both safer and more turbulent post-war – https://theconversation.com/trumps-gaza-threat-shows-the-middle-east-is-both-safer-and-more-turbulent-post-war-247868

MIL OSI – Global Reports –

February 6, 2025
MIL-OSI Africa: US health funding cuts: what Nigeria stands to lose

Source: The Conversation – Africa – By Oyewale Tomori, Fellow, Nigerian Academy of Science

US president Donald Trump’s decision to withdraw the US from the World Health Organization is threatening funding for critical health programmes like HIV/Aids and tuberculosis in different parts of the world, including Nigeria.

The Conversation Africa’s Adejuwon Soyinka asked professor of virology and former WHO Africa regional virologist Oyewale Tomori why Nigeria is heavily dependent on US funding for some of its health programmes, what’s at risk and how to mitigate the impact.

How dependent is Nigeria on US funding for health?

Sadly, Nigeria and many African countries are too dependent on US funding and other donor funding for basic health activities and interventions. These activities are the normal function of a good and responsive government which is committed to the welfare of citizens.

According to a US embassy publication, since 2021, the US has committed to providing nearly US$20 billion in health programmes in Africa. The report says in 2023 alone, the US invested over US$600 million in health assistance in Nigeria. That is about 21% of Nigeria’s 2023 annual health budget.

Nigeria has, over the years, allocated on the average about 5% of the national budget to health. Three quarters of that covers recurrent expenditure like salaries.

Nigeria’s proposed 2025 budget is ₦49.74 trillion (US$33 billion), of which ₦2.4 trillion (US$1.6 billion) (4.8%) is allocated to health. This is lower than the 5.15% allocated to health in the 2024 budget.

The private sector plays a significant role in the Nigeria’s healthcare system, providing close to 60% of healthcare services.

In recent years, traditional medicine is increasingly offering complementary and alternative medicine in support of the services provided by the federal, state and local government areas levels.

What health programmes does the US fund in Nigeria?

The US support is focused on preventing malaria, under the US President’s Malaria Initiative; ending HIV, through the US President’s Emergency Plan for AIDS Relief; and delivering vaccines (COVID, polio, rotavirus, IPV2 and HPV).

Malaria is a major public health concern in Nigeria. In 2021, there were an estimated 68 million cases of malaria and 194,000 deaths. Nigeria has the highest burden of malaria globally, nearly 27% of the global malaria burden.

Nigeria has a high burden of HIV – fourth in the world. A large number of Nigerians live with the virus. The national agency responsible for AIDS control reported a rate of 1,400 new HIV cases per week in 2023.

Nigeria has experienced outbreaks of yellow fever, meningitis, cholera, Lassa fever and COVID-19.

In addition to helping with managing these major diseases, the US government also provided funds to strengthen the country’s ability to prevent, detect, respond to and recover from emerging public health threats.

With these funds, a Public Health Emergency Management Programme was established and national disease surveillance systems were upgraded. Nigeria’s laboratory diagnostics were enhanced to test for Ebola, mpox, yellow fever, measles, Lassa fever, cholera and cerebrospinal meningitis.

Other countries (Japan, Germany, Canada, the UK) also provided support through building and equipping laboratories and training health workers.

What’s most at risk?

Interventions most at risk are those of which the Nigerian government has abdicated its responsibilities to the donors. They include provision of rapid diagnostic tests for malaria, insecticide-treated bed nets, malaria preventive treatments in pregnancy, provision of fast acting malaria medicines and insecticide for home spraying.

The following HIV interventions are likely to be adversely affected: HIV counselling and testing services, especially for pregnant women to prevent mother-to-child transmission of HIV, and the care of people living with HIV with TB/HIV services, as well as care and support for orphans and vulnerable children.

Sustaining laboratory capacity for rapid disease diagnosis will suffer a major setback with reduced or lack of reagents and consumables.

A huge amount of laboratory equipment is provided by donors. Servicing and replacement of equipment will be affected.

The Nigerian health sector’s challenges include inadequate funding, shortage of healthcare professionals, poor access to healthcare due to cost, poor infrastructure, and high prevalence of preventable diseases.

Cutting off US money is not likely to affect the shortage of healthcare professionals, as the major reason for the shortage is their deteriorating work environment and unsafe social environment. This environment was created by years of economic downturn and social insecurity in Nigeria.

Why is Nigeria still so reliant on US funding?

I think Nigeria lacks national pride as it begs for assistance to provide what it already has the resources for. The government seems to place the well-being of the citizens on a secondary status.

Many African governments assume the world owes Africa compensation for colonial activities. But to me, the danger to Nigeria’s freedom from dependency is not truly knowing what we are, who we are, and how endowed we are.

The world describes Nigeria as “resource limited” and, without thinking, Nigerians accept such name calling. Nigeria is not resource-limited, it is resource wasteful. Nigeria is not resource constrained; it is corruption constrained. Until Nigerians know who and what we are, we will never find the solution to our problems.

Nigeria’s acceptance of the tag “resource-limited” drives it to beg for assistance even in areas of its highest capability, capacity and competence and where it has highly trained people. Like disease prevention and control.

Africa has since the 1960s experienced numerous outbreaks of diseases and has acquired significant expertise in disease prevention and control. An example is the 2014 Ebola outbreak in Nigeria, which was brought under control within three months with only 20 cases and eight deaths.

This was a disease that raged for three years and ravaged three countries: Guinea, Liberia and Sierra Leone. It was reported in seven others with 28,600 cases and 11,326 deaths.

In Nigeria, the country coordinated response activities which were anchored on the participation of the community. The community was part of disease investigation, contact tracing, isolation of cases and adoption of infection, prevention and control interventions.

How can Nigeria mitigate the impact?

Nigeria must immediately provide emergency funds to cover the shortfall arising from the action of the US government. What Trump has done should have been anticipated, because he did the same things during his first term of office.

Nigeria must re-order its priorities, and provide funds to create and sustain an enabling environment for talented human resources to function effectively for disease control and prevention.

The country must prioritise disease prevention and control (in that order) through adequate and sustained funding of disease surveillance activities at all levels of governance.

Nigeria needs to decentralise disease surveillance, prevention and control by enabling states and local government areas to take responsibility. The Nigeria Centre for Disease Control and Prevention should coordinate state and local government areas activities, instead of acting as the controller of diseases in Nigeria.

– US health funding cuts: what Nigeria stands to lose
– https://theconversation.com/us-health-funding-cuts-what-nigeria-stands-to-lose-248921

MIL OSI Africa –

February 6, 2025
MIL-OSI United Kingdom: London Assembly Member Mahfouz urges transports chiefs to create bus stop outside West Drayton Cemetery entrance

Source: Mayor of London

London Assembly Member Mahfouz urges transports chiefs to create bus stop outside West Drayton Cemetery entrance

Bassam Mahfouz, London Assembly Member for Ealing and Hillingdon, has written to Seb Dance, Deputy Mayor of Transport, to present the case for a new bus stop outside West Drayton Cemetery to serve mourners and visitors.

The letter is in response to a petition started by members of the Hayes Muslim Centre which has gained 350 signatures so far.

West Drayton cemetery is located within a residential neighbourhood on Harmondsworth road. Local people travelling to West Drayton currently take the 350 bus to the closest bus stop located outside Tesco’s on Station Road before walking around 15-minutes to the cemetery.

Transport for London (TfL) aims for local people within the capital to live within 400 meters of a bus stop, however at more than twice the distance residents, mourners and staff are often forced to drag gardening tools, flowers and incense from the nearest bus stop on Station Road to the graveside. This presents significant difficulties for many visitors, especially those with mobility issues and respiratory health conditions.

Local resident, Imran Bhani, who lost his wife and child three years ago said:

“The events which took place in January 2021 will haunt me for the rest of my life. In just seven short hours I lost my wife to a long-term illness and my son to Covid-19.

“Nobody should ever have to bury their 26 – year- old child but due to the global pandemic I was one of many people that have. They say that time can be a great healer but for me visiting them and honouring them with prayers and fresh flowers each day makes my grieving process a little easier.

“I would urge TFL and the Mayor of London to make life easier for fellow mourners at West Drayton Cemetery, every day I see older and disabled people dragging watering cans, spades and gardening forks from the nearest bus stop which is about 15 minutes away on Station Road.

“We are all getting older and whilst I am just about managing the journey each day there will come a time when I will no longer be able to cope.

Bassam Mahfouz, London Assembly Member for Ealing and Hillingdon said:

“Losing a lost one is always traumatic. Family and friends want to be able to pay their respects to family and friends who are no longer with them. It is quite unbelievable that this large cemetery has a bus drive straight past the entrance, but not stop at the front gates. I am convinced that many local people would benefit from this proposal and make it easier for mourners, especially those who are older, or with mobility issues.

Ends

MIL OSI United Kingdom –

February 6, 2025
MIL-OSI United Kingdom: Return of 222, U1 and U3 Bus Services to West Drayton Station

Source: Mayor of London

Return of 222, U1 and U3 Bus Services to West Drayton Station

Commuters and residents in West Drayton can celebrate the return of vital bus services to the station forecourt as routes resume on Saturday, 18 January.

The restoration of services includes key routes such as the 222, U1, and U3 buses, enhancing connectivity for the area. The resumption of bus services to the forecourt further solidifies the station’s role as a key transport hub for the area, and will reinforce West Drayton’s connectivity to Greater London.

The return of bus services follows the completion of major works in December 2024 to improve the station forecourt by addressing drainage problems and improving pedestrian access to ensure safer and more accessible transport options for the community.

Assembly Member Bassam Mahfouz has long been advocating for the completion of the forecourt improvement works and the reinstatement of accessible bus services.

Bassam Mahfouz, London Assembly Member for Ealing and Hillingdon, said:

“After months of dedicated work and significant upgrades, I’m delighted to see buses once again serving West Drayton Station. This marks a huge step forward in improving accessibility and connectivity for local residents and commuters. The completion of these works represents not just an infrastructure improvement but also a meaningful enhancement to the quality of life for everyone who relies on these services.”

Danny Beales, Member of Parliament for Uxbridge and South Ruislip, said:

“I’m incredibly pleased to see the return of essential bus services to the station. As the local Member of Parliament, I’ve worked collaboratively with the GLA, Network Rail and local residents to work to get this bus back up and running. This marks a significant milestone in bettering transport links for our community, and from now on, local commuters will have a more convenient and accessible option for their everyday travel.”

ENDS

MIL OSI United Kingdom –

February 6, 2025
MIL-OSI United Kingdom: Works to create step-free access restart following four-year delay

Source: Mayor of London

Construction work has resumed at Northolt Tube station to make it step-free, after being paused four years ago due to the global pandemic.

Commuters with mobility issues and residents with young children living in Northolt can finally look forward to the station improvements as work resumed on Monday, 3 February.

Transport for London (TfL) will carry out cable diversions at Northolt Underground station which are part of the preparatory works needed to make the station step-free.

The main construction works to make the station step-free are expected to start this spring and are expected to be completed by summer 2026.

Accessibility champion, Assembly Member Bassam Mahfouz, has long been campaigning to create step-free access at Northolt, having successfully campaigned to get lifts installed in neighbouring Greenford and Hanwell underground stations.

Bassam Mahfouz, London Assembly Member for Ealing and Hillingdon, said:

“Northolt is an incredibly busy station and local residents deserve the right to have an accessible platform to connect them into central London and beyond. I was delighted to gain the commitment to make it step free in 2019. Now with COVID out of the way, it’s full steam ahead to open up the station to parents with buggies, shoppers, the elderly and disabled, really putting Northolt on the map.”

John McGeachy, Campaigns Manager, Age UK London said: “It is very good news to hear that work is restarting to make Northolt Station step-free. This will make a huge difference to the many older and disabled people who will be able to use services from the station. Any efforts to make transport more accessible for everyone is very welcome.”

Cyreeta Donaldson, Regional Campaigns Officer for London at the Royal National Institute of Blind People (RNIB), said: “We’ve been advising TfL to help ensure step-free access is prioritised at Northolt Station and across the Tube network where appropriate. We’re pleased work is now set to progress and we look forward to continuing to work with them on further station upgrades including improved signage and tactile markings which have huge benefits for blind and partially sighted people.”

MIL OSI United Kingdom –

February 6, 2025
MIL-OSI United Kingdom: Reading and writing boost to drive high and rising standards
Source: United Kingdom – Government Statements

Thousands of pupils set to benefit from a £2 million investment in reading and writing, breaking down the barriers to opportunity.
Thousands of pupils across England are set to benefit from a £2 million investment to drive high and rising standards in reading and writing, building on the Education Secretary’s plan for a new era of school standards.

In her speech to the Centre of Social Justice (Monday 03 February), the Education Secretary outlined how the success of phonics delivered for millions of children but now was the time to build on this work with a new focus on reading and writing.

A third of children leave primary school without fundamental reading, writing and maths skills, this increases to over half for disadvantaged pupils.

There also continues to be a decline in children and young people reading for pleasure with the number of children aged 8-18 who enjoy reading in their spare time reduced by a third since 2019. Reading for pleasure has been associated not only with increases in reading attainment but also with writing ability, text comprehension, grammar and breadth of vocabulary.

Building on the success of phonics, teachers will receive additional training to help children progress from the early stages of phonics in reception and year 1 through to reading fluently by the time they leave primary school. This will be delivered through the English Hubs programme, a school-to-school improvement programme to drive up standards.

In secondary school, teachers will be offered new training and resources this year to help them support readers at all levels, and next year the Department will commission further training that will be focused specifically on struggling readers in secondary school who are at risk of falling behind.

As part of the £2 million investment, £1 million will be available for secondary schools with the greatest need to apply for, to support them to purchase reading programmes and other resources to support struggling readers.

A strong foundation in reading and writing is crucial for children to achieve and thrive, enabling them to not only benefit from the rest of the curriculum, but also help them develop a love for reading from an early stage.

As part of the government’s drive to improve reading and writing, the department will also publish a writing framework in the summer, that will be a first step to support schools in delivering high quality writing provision across England ensuring all pupils have a strong foundation in writing.

Education Secretary Bridget Phillipson said:

This government will build on the successes of recent decades, raising the bar when it comes to standards and delivering on our Plan for Change, breaking the link between background and success.

Reading and writing are the cornerstones of learning. They hold the keys to the rest of the curriculum, with pupils who struggle to read so often struggling across the board.

So while progress has been made – in particular when it comes to phonics – now is the time to take that work to another level.

That means continuing to drive up quality of teaching, giving our brilliant teachers the tools and resources they need, and extending further support directly to the children and young people who need it most – because no child should leave school without a strong grasp of the basics.

The curriculum review, launched in July, will make sure all pupils benefit from a curriculum that delivers excellent foundations in reading, writing and maths to ensure they can develop the skills needed to succeed in work and life.

The government has also committed to spearheading real-world primary maths teaching through evidence based progammes to ensure every child is given the foundations to develop lifelong numeracy skills.

These reforms follow plans set out by the Education Secretary this week reaffirming her commitment to high and rising standards in schools with an excellent teacher in every classroom, a high-quality curriculum for every school and a core offer of excellence for every parent so that every child can achieve and thrive.

DfE media enquiries

Central newsdesk – for journalists 020 7783 8300

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Published 5 February 2025
MIL OSI United Kingdom –
February 6, 2025

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London Assembly Member Mahfouz urges transports chiefs to create bus stop outside West Drayton Cemetery entrance

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