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MIL-OSI Security: West Lafayette Man Sentenced to 27 Months in Prison

Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

HAMMOND- Markith Williams, age 39, of West Lafayette, Indiana, was sentenced by United States District Court Judge Philip P. Simon after a jury found him guilty of being a convicted felon in possession of a firearm following a two-day jury trial, announced United States Attorney Clifford D. Johnson.

Williams was sentenced to 27 months in prison followed by 2 years of supervised release.

According to documents in the case, on January 13, 2022, a traffic stop of Williams’ vehicle in Jasper County, Indiana, led to the recovery of a loaded semi-automatic pistol. Williams’ criminal history revealed that he had 3 prior Illinois felony convictions which included being a felon in possession of a firearm, aggravated unlawful use of a weapon, and delivery of cocaine, any one of which prohibited him from possessing the firearm in this case.

This case was investigated by the Bureau of Alcohol, Tobacco, Firearms and Explosives, the Hammond Police Department, and the Jasper County Sheriff’s Department. The case was prosecuted by Special Assistant United States Attorney Patrick D. Grindlay and Assistant United States Attorney Kristian R. Mukoski.

This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

MIL Security OSI –

January 25, 2025

MIL-OSI: Farmers & Merchants Bancorp, Inc. Reports 2024 Third-Quarter and Year-to-Date Financial Results

Source: GlobeNewswire (MIL-OSI)

ARCHBOLD, Ohio, Oct. 30, 2024 (GLOBE NEWSWIRE) — Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO) today reported financial results for the 2024 third quarter and year-to-date ended September 30, 2024.

2024 Third Quarter Financial and Operating Highlights (on a year-over-year basis unless noted):

86 consecutive quarters of profitability
Net income increased 36.4% to $6.5 million, or $0.48 per basic and diluted share, from $4.8 million, or $0.35 per basic and diluted share, and net income expanded 14.7% from the 2024 second quarter
Net interest margin increased 12 basis points to 2.71%
Efficiency ratio improved to 67.98%, compared to 73.07% for the same period a year ago, and 69.03% for the 2024 second quarter
Total net loans remain stable at $2.54 billion at September 30, 2024
Total assets increased 4.8% to a record $3.39 billion
Deposits increased 4.3% to a record $2.68 billion
Stockholders’ equity increased 10.6% to a record $335.4 million
Asset quality remains at historically strong levels with nonperforming loans of only $2.9 million at September 30, 2024, compared to $22.4 million at September 30, 2023
Allowance for credit losses was 879.37% of nonperforming loans
F&M ended the quarter with excellent liquidity levels, and over $635 million in contingent funding sources, and a cash-to-assets ratio of 7.2%
According to the FDIC, F&M continued to have the third largest share of deposits out of the 58 financial institutions that are also operating within its local markets

Lars B. Eller, President and Chief Executive Officer, stated, “F&M produced excellent earnings growth on a year-over-year and sequential basis, driven by higher net interest income, historically strong asset quality, and prudent expense management. Most importantly, our third quarter results reflect the talent of our associates, as we continue to work hard to drive operating improvements at F&M, serve our local Ohio, Indiana, and Michigan communities, and position F&M for long-term success. In addition, I am pleased to report that F&M was the third largest bank out of 58 financial institutions within the markets we compete, according to the FDIC, reflecting the leading value we provide to our local communities. In fact, F&M is the number one bank, based on deposits, in almost half of the communities in which we operate.”

Income Statement
Net income for the 2024 third quarter ended September 30, 2024, was $6.5 million, compared to $4.8 million for the same period last year. Net income per basic and diluted share for the 2024 third quarter was $0.48, compared to $0.35 for the same period last year. Net income for the 2024 nine months ended September 30, 2024, was $17.6 million, compared to $17.2 million for the same period last year. Net income per basic and diluted share for the 2024 nine months was $1.28, compared to $1.26 for the same period last year.

Mr. Eller continued, “Our 2024 third quarter and year-to-date performance demonstrate the success of the near-term strategies we are pursuing to navigate a complex operating environment and improve earnings. Most importantly, while the demand for loans is high across our markets, our approach to risk and pricing remains conservative. This near-term strategy has contributed to excellent asset quality. In addition, we continue to focus on strategies aimed at optimizing our deposit base and growing low-cost checking (DDA) deposits. Since the beginning of 2024, we have added over 5,600 new checking accounts, and benefited from new and expanded relationships at offices that were opened in 2023. As a result, we ended the quarter with a loan-to-deposit ratio of 93.6%, compared to 97.2% at September 30, 2023, and 96.0% at June 30, 2024. Our third quarter of 2024 loan-to-deposit ratio was the lowest quarterly value in two years. The final near-term strategy we are pursuing is focused on controlling expenses, and I am encouraged by the continued year-over-year and sequential improvement in our efficiency ratio. This reflects the opportunities we are pursuing to manage operating costs and expand productivity.”

Deposits
At September 30, 2024, total deposits were $2.68 billion, an increase of 4.3% from September 30, 2023. The Company’s cost of interest-bearing liabilities was 3.2% for the quarter ended September 30, 2024, compared to 2.82% for the quarter ended September 30, 2023, and 3.02% for the 2023 fourth quarter ended December 31, 2023.

Loan Portfolio and Asset Quality
“F&M’s teams continue to do an excellent job managing our cost of funds, loan pricing, deposit growth and overall net interest margin. Since the quarter ended December 31, 2023, our yield on earning assets has increased by 34 basis points, compared to a 19 basis point increase in our cost of interest bearing liabilities – representing the third consecutive quarter our yield on earning assets has outpaced our cost of interest bearing liabilities. We expect this trend will continue as more of our loan portfolio reprices in 2024,” continued Mr. Eller.

Total loans, net at September 30, 2024, increased 0.3%, or by $8.7 million to $2.54 billion, compared to $2.53 billion at September 30, 2023. The year-over-year growth was driven by higher consumer real estate, commercial and industrial, and agricultural loans, partially offset by lower commercial real estate, agricultural real estate, and consumer loans.

F&M continues to closely monitor its loan portfolio with a particular emphasis on higher risk sectors. Nonperforming loans were $2.9 million, or 0.11% of total loans at September 30, 2024, compared to $22.4 million, or 0.89% of total loans at September 30, 2023, and $22.4 million, or 0.87% at December 31, 2023.

F&M maintains a well-balanced, diverse and high performing CRE portfolio. CRE loans represented 51.3% of the Company’s total loan portfolio at September 30, 2024. In addition, F&M’s commercial real estate office credit exposure represented 5.3% of the Company’s total loan portfolio at September 30, 2024, with a weighted average loan-to-value of approximately 64% and an average loan of approximately $880,000.

F&M’s CRE portfolio included the following categories at September 30, 2024:

CRE Category	Dollar Balance		Percent of CRE Portfolio⁽^*)		Percent of Total Loan Portfolio⁽^*)

Industrial	$	274,953	21.1	%	10.8	%
Retail	$	237,622	18.2	%	9.4	%
Multi-family	$	223,926	17.2	%	8.8	%
Hotels	$	141,642	10.9	%	5.6	%
Office	$	134,973	10.4	%	5.3	%
Gas Stations	$	62,028	4.8	%	2.5	%
Food Service	$	46,526	3.6	%	1.8	%
Development	$	30,999	2.4	%	1.2	%
Senior Living	$	29,866	2.3	%	1.2	%
Auto Dealers	$	25,068	1.9	%	1.0	%
Other	$	93,557	7.2	%	3.7	%
Total CRE	$	1,301,160	100.0	%	51.3	%

* Numbers have been rounded

At September 30, 2024, the Company’s allowance for credit losses to nonperforming loans was 879.37%, compared to 112.61% at September 30, 2023, and 111.95% at December 31, 2023. The allowance to total loans was 1.01% at September 30, 2024, compared to 1.00% at September 30, 2023. Including accretable yield adjustments, associated with the Company’s recent acquisitions, F&M’s allowance for credit losses to total loans was 1.10% at September 30, 2024, compared to 1.18% at September 30, 2023.

Mr. Eller concluded, “With two months remaining in 2024, I am encouraged by F&M’s strong financial and operating performance to date. F&M ended the quarter with record stockholders’ equity, historically strong asset quality, record deposits, and excellent liquidity levels with over $635 million in contingent funding sources, and a cash-to-assets ratio of 7.2%. We remain focused on continual improvements, managing the items under our control, and providing our customers and communities with outstanding, and local financial services. As a result, F&M’s financial and operating performance continues to strengthen and I believe the Company is well positioned to create lasting value for our communities, customers, team members, and shareholders.”

Stockholders’ Equity and Dividends
Total stockholders’ equity increased 10.6% to $335.4 million, or $24.48 per share at September 30, 2024, from $303.2 million, or $22.19 per share at September 30, 2023. The Company’s Tier 1 leverage ratio of 8.04%, remained stable compared to September 30, 2023.

Tangible stockholders’ equity increased to $242.8 million at September 30, 2024, compared to $208.8 million at September 30, 2023. On a per share basis, tangible stockholders’ equity at September 30, 2024, was $17.72 per share, compared to $15.28 per share at September 30, 2023.

For the nine months ended September 30, 2024, the Company has declared cash dividends of $0.66125 per share, which is a 5.0% increase over the same period last year. F&M is committed to returning capital to shareholders and has increased the annual cash dividend for 30 consecutive years. For the nine months ended September 30, 2024, the dividend payout ratio was 50.99% compared to 49.50% for the same period last year.

About Farmers & Merchants State Bank:
Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO) is the holding company of F&M Bank, a local independent community bank that has been serving its communities since 1897. F&M Bank provides commercial banking, retail banking and other financial services. Our locations are in Butler, Champaign, Fulton, Defiance, Hancock, Henry, Lucas, Shelby, Williams, and Wood counties in Ohio. In Northeast Indiana, we have offices located in Adams, Allen, DeKalb, Jay, Steuben and Wells counties. The Michigan footprint includes Oakland County, and we have Loan Production Offices in West Bloomfield, Michigan; Muncie, Indiana; and Perrysburg and Bryan, Ohio.

Safe Harbor Statement
Farmers & Merchants Bancorp, Inc. (“F&M”) wishes to take advantage of the Safe Harbor provisions included in the Private Securities Litigation Reform Act of 1995. Statements by F&M, including management’s expectations and comments, may not be based on historical facts and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. Actual results could vary materially depending on risks and uncertainties inherent in general and local banking conditions, competitive factors specific to markets in which F&M and its subsidiaries operate, future interest rate levels, legislative and regulatory decisions, capital market conditions, or the effects of the COVID-19 pandemic, and its impacts on our credit quality and business operations, as well as its impact on general economic and financial market conditions. F&M assumes no responsibility to update this information. For more details, please refer to F&M’s SEC filing, including its most recent Annual Report on Form 10-K and quarterly reports on Form 10-Q. Such filings can be viewed at the SEC’s website, www.sec.gov or through F&M’s website www.fm.bank.

Non-GAAP Financial Measures
This press release includes disclosure of financial measures not prepared in accordance with generally accepted accounting principles in the United States (GAAP). A non-GAAP financial measure is a numerical measure of historical or future financial performance, financial position or cash flows that excludes or includes amounts that are required to be disclosed by GAAP. Farmers & Merchants Bancorp, Inc. believes that these non-GAAP financial measures provide both management and investors a more complete understanding of the underlying operational results and trends and Farmers & Merchants Bancorp, Inc.’s marketplace performance. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the numbers prepared in accordance with GAAP. A reconciliation of GAAP to non-GAAP financial measures is included within this press release.


FARMERS & MERCHANTS BANCORP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME & COMPREHENSIVE INCOME (Unaudited) (in thousands of dollars, except per share data)

	Three Months Ended														Nine Months Ended
	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023		September 30, 2023			September 30, 2024			September 30, 2023
Interest Income
Loans, including fees	$	36,873		$	36,593		$	35,200		$	34,493	$	33,783		$	108,666		$	94,851
Debt securities:
U.S. Treasury and government agencies		1,467			1,148			1,045			987		1,005			3,660			3,103
Municipalities		387			389			394			397		392			1,170			1,201
Dividends		334			327			333			365		246			994			517
Federal funds sold		7			7			7			8		6			21			36
Other		2,833			2,702			1,675			2,020		927			7,210			1,830
Total interest income		41,901			41,166			38,654			38,270		36,359			121,721			101,538
Interest Expense
Deposits		16,947			16,488			15,279			15,015		13,323			48,714			31,908
Federal funds purchased and securities sold under agreements to repurchase		277			276			284			293		349			837			1,181
Borrowed funds		2,804			2,742			2,689			2,742		2,741			8,235			6,134
Subordinated notes		284			285			284			285		284			853			853
Total interest expense		20,312			19,791			18,536			18,335		16,697			58,639			40,076
Net Interest Income – Before Provision for Credit Losses		21,589			21,375			20,118			19,935		19,662			63,082			61,462
Provision for Credit Losses – Loans		282			605			(289	)		278		460			598			1,420
Provision for Credit Losses – Off Balance Sheet Credit Exposures		(267	)		(18	)		(266	)		189		(76	)		(551	)		(143	)
Net Interest Income After Provision for Credit Losses		21,574			20,788			20,673			19,468		19,278			63,035			60,185
Noninterest Income
Customer service fees		300			189			598			415		248			1,087			917
Other service charges and fees		1,155			1,085			1,057			1,090		1,133			3,297			3,253
Interchange income		1,315			1,330			1,429			1,310		1,266			4,074			4,008
Loan servicing income		710			513			539			666		502			1,762			3,739
Net gain on sale of loans		215			314			107			230		294			636			469
Increase in cash surrender value of bank owned life insurance		265			236			216			216		221			717			618
Net loss on sale of available-for-sale securities		–			–			–			–		–			–			(891	)
Total noninterest income		3,960			3,667			3,946			3,927		3,664			11,573			12,113
Noninterest Expense
Salaries and wages		7,713			7,589			7,846			6,981		6,777			23,148			19,934
Employee benefits		2,112			2,112			2,171			1,218		2,066			6,395			6,302
Net occupancy expense		1,054			999			1,027			1,187		950			3,080			2,646
Furniture and equipment		1,472			1,407			1,353			1,370		1,189			4,232			3,652
Data processing		339			448			500			785		840			1,287			2,362
Franchise taxes		410			265			555			308		434			1,230			1,179
ATM expense		472			397			473			665		640			1,342			1,946
Advertising		597			519			530			397		865			1,646			2,209
Net (gain) loss on sale of other assets owned		–			(49	)		–			86		49			(49	)		49
FDIC assessment		516			507			580			594		586			1,603			1,388
Servicing rights amortization – net		219			187			168			182		106			574			429
Loan expense		244			251			229			246		241			724			809
Consulting fees		251			198			186			192		179			635			640
Professional fees		453			527			445			331		358			1,425			1,099
Intangible asset amortization		445			444			445			446		445			1,334			1,334
Other general and administrative		1,128			1,495			1,333			1,532		1,319			3,956			4,841
Total noninterest expense		17,425			17,296			17,841			16,520		17,044			52,562			50,819
Income Before Income Taxes		8,109			7,159			6,778			6,875		5,898			22,046			21,479
Income Taxes		1,593			1,477			1,419			1,332		1,121			4,489			4,235
Net Income		6,516			5,682			5,359			5,543		4,777			17,557			17,244
Other Comprehensive Income (Loss) (Net of Tax):
Net unrealized gain (loss) on available-for-sale securities		11,664			2,531			(1,995	)		13,261		(4,514	)		12,200			(2,480	)
Reclassification adjustment for realized loss on sale of available-for-sale securities		–			–			–			–		–			–			891
Net unrealized gain (loss) on available-for-sale securities		11,664			2,531			(1,995	)		13,261		(4,514	)		12,200			(1,589	)
Tax expense (benefit)		2,449			531			(418	)		2,784		(947	)		2,562			(333	)
Other comprehensive income (loss)		9,215			2,000			(1,577	)		10,477		(3,567	)		9,638			(1,256	)
Comprehensive Income	$	15,731		$	7,682		$	3,782		$	16,020	$	1,210		$	27,195		$	15,988
Basic Earnings Per Share	$	0.48		$	0.42		$	0.39		$	0.41	$	0.35		$	1.28		$	1.26
Diluted Earnings Per Share	$	0.48		$	0.42		$	0.39		$	0.41	$	0.35		$	1.28		$	1.26
Dividends Declared	$	0.22125		$	0.22		$	0.22		$	0.22	$	0.21		$	0.66125		$	0.63

FARMERS & MERCHANTS BANCORP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands of dollars, except per share data)

		September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
		(Unaudited)			(Unaudited)			(Unaudited)						(Unaudited)
Assets
Cash and due from banks		$	244,572		$	191,785		$	186,541		$	140,917		$	151,711
Federal funds sold			932			1,283			1,241			1,284			1,471
	Total cash and cash equivalents		245,504			193,068			187,782			142,201			153,182

Interest-bearing time deposits			2,727			3,221			2,735			2,740			2,989
Securities – available-for-sale			404,881			365,209			347,516			358,478			348,255
Other securities, at cost			15,028			14,721			14,744			17,138			16,995
Loans held for sale			1,706			1,628			2,410			1,576			1,039
Loans, net of allowance for credit losses of $25,484 9/30/24 and $25,024 12/31/23			2,512,852			2,534,468			2,516,687			2,556,167			2,504,329
Premises and equipment			33,779			34,507			35,007			35,790			31,723
Construction in progress			35			38			9			8			3,044
Goodwill			86,358			86,358			86,358			86,358			86,358
Loan servicing rights			5,644			5,504			5,555			5,648			5,687
Bank owned life insurance			34,624			34,359			34,123			33,907			33,691
Other assets			46,047			49,552			54,628			43,218			47,388

Total Assets		$	3,389,185		$	3,322,633		$	3,287,554		$	3,283,229		$	3,234,680

	Liabilities and Stockholders’ Equity
Liabilities
Deposits
	Noninterest-bearing	$	481,444		$	479,069		$	510,731		$	528,465		$	505,358
	Interest-bearing
	NOW accounts		865,617			821,145			829,236			816,790			778,133
	Savings		661,565			673,284			635,430			599,191			591,344
	Time		676,187			667,592			645,985			663,017			700,445
	Total deposits		2,684,813			2,641,090			2,621,382			2,607,463			2,575,280

Federal funds purchased and securities sold under agreements to repurchase			27,292			27,218			28,218			28,218			30,527
Federal Home Loan Bank (FHLB) advances			263,081			266,102			256,628			265,750			266,286
Subordinated notes, net of unamortized issuance costs			34,789			34,759			34,731			34,702			34,673
Dividend payable			2,998			2,975			2,975			2,974			2,838
Accrued expenses and other liabilities			40,832			27,825			25,930			27,579			21,892
	Total liabilities		3,053,805			2,999,969			2,969,864			2,966,686			2,931,496

Commitments and Contingencies

Stockholders’ Equity
Common stock – No par value 20,000,000 shares authorized; issued
14,564,425 shares 9/30/24 and 12/31/23; outstanding 13,702,593			135,193			135,829			135,482			135,515			135,171
shares 9/30/24 and 13,664,641 shares 12/31/23
Treasury stock – 861,832 shares 9/30/24 and 899,784 shares 12/31/23			(10,904	)		(11,006	)		(10,851	)		(11,040	)		(11,008	)
Retained earnings			230,465			226,430			223,648			221,080			218,510
Accumulated other comprehensive loss			(19,374	)		(28,589	)		(30,589	)		(29,012	)		(39,489	)
	Total stockholders’ equity		335,380			322,664			317,690			316,543			303,184

Total Liabilities and Stockholders’ Equity		$	3,389,185		$	3,322,633		$	3,287,554		$	3,283,229		$	3,234,680

FARMERS & MERCHANTS BANCORP, INC. AND SUBSIDIARIES SELECT FINANCIAL DATA

	For the Three Months Ended															For the Nine Months Ended
Selected financial data	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023			September 30, 2024			September 30, 2023
Return on average assets		0.78	%		0.69	%		0.66	%		0.67	%		0.59	%		0.71	%		0.73	%
Return on average equity		7.93	%		7.13	%		6.76	%		7.27	%		6.26	%		7.28	%		7.52	%
Yield on earning assets		5.27	%		5.22	%		5.00	%		4.93	%		4.79	%		5.17	%		4.57	%
Cost of interest bearing liabilities		3.21	%		3.18	%		3.06	%		3.02	%		2.82	%		3.16	%		2.35	%
Net interest spread		2.06	%		2.04	%		1.94	%		1.91	%		1.97	%		2.01	%		2.22	%
Net interest margin		2.71	%		2.71	%		2.60	%		2.57	%		2.59	%		2.68	%		2.77	%
Efficiency		67.98	%		69.03	%		74.08	%		69.23	%		73.07	%		70.36	%		68.24	%
Dividend payout ratio		45.99	%		52.35	%		55.52	%		54.23	%		60.07	%		50.99	%		49.50	%
Tangible book value per share	$	17.72		$	16.79		$	16.39		$	16.29		$	15.28
Tier 1 leverage ratio		8.04	%		8.02	%		8.40	%		8.20	%		8.02	%
Average shares outstanding		13,687,119			13,681,501			13,671,166			13,665,773			13,650,823			13,679,955			13,633,101

Loans	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
(Dollar amounts in thousands)
Commercial real estate	$	1,301,160		$	1,303,598		$	1,304,400		$	1,337,766		$	1,304,118
Agricultural real estate		220,328			222,558			227,455			223,791			225,672
Consumer real estate		524,055			525,902			525,178			521,895			512,973
Commercial and industrial		260,732			268,426			256,051			254,935			250,891
Agricultural		137,252			142,909			127,670			132,560			123,735
Consumer		67,394			70,918			74,819			79,591			83,024
Other		25,916			26,449			26,776			30,136			31,083
Less: Net deferred loan fees, costs and other ⁽¹⁾		1,499			(1,022	)		(982	)		517			(1,890	)
Total loans, net	$	2,538,336		$	2,559,738		$	2,541,367		$	2,581,191		$	2,529,606


Asset quality data	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
(Dollar amounts in thousands)
Nonaccrual loans	$	2,898		$	2,487		$	19,391		$	22,353		$	22,447
90 day past due and accruing	$	–		$	–		$	–		$	–		$	–
Nonperforming loans	$	2,898		$	2,487		$	19,391		$	22,353		$	22,447
Other real estate owned	$	–		$	–		$	–		$	–		$	–
Nonperforming assets	$	2,898		$	2,487		$	19,391		$	22,353		$	22,447


Allowance for credit losses	$	25,484		$	25,270		$	24,680		$	25,024		$	25,277
Allowance for unfunded		1,661			1,928			1,946			2,212			2,023
Total Allowance for Credit Losses	$	27,145		$	27,198		$	26,626		$	27,236		$	27,300
Allowance for credit losses/total loans		1.01	%		0.99	%		0.97	%		0.97	%		1.00	%
Adjusted credit losses with accretable yield/total loans		1.10	%		1.10	%		1.11	%		1.13	%		1.18	%
Net charge-offs:
Quarter-to-date	$	68		$	15		$	55		$	531		$	93
Year-to-date	$	138		$	70		$	55		$	551		$	20
Net charge-offs to average loans
Quarter-to-date		0.00	%		0.00	%		0.00	%		0.02	%		0.00	%
Year-to-date		0.01	%		0.00	%		0.00	%		0.02	%		0.00	%
Nonperforming loans/total loans		0.11	%		0.10	%		0.76	%		0.87	%		0.89	%
Allowance for credit losses/nonperforming loans		879.37	%		1016.08	%		127.28	%		111.95	%		112.61	%
NPA coverage ratio		879.37	%		1016.08	%		127.28	%		111.95	%		112.61	%

⁽¹⁾ Includes carrying value adjustments of $3.0 million as of September 30, 2024, $612 thousand as of June 30, 2024, $969 thousand as of March 31, 2024 and $2.7 million as of December 31, 2023 related to interest rate swaps associated with fixed rate loans


FARMERS & MERCHANTS BANCORP, INC. AND SUBSIDIARIES AVERAGE BALANCE SHEETS AND RELATED YIELDS AND RATES (in thousands of dollars, except percentages)

	For the Three Months Ended						For the Three Months Ended
	September 30, 2024						September 30, 2023
Interest Earning Assets:	Average Balance		Interest/Dividends		Annualized Yield/Rate		Average Balance		Interest/Dividends		Annualized Yield/Rate
Loans	$	2,551,899	$	36,873	5.78	%	$	2,536,885	$	33,783	5.33	%
Taxable investment securities		415,943		2,107	2.03	%		393,910		1,559	1.58	%
Tax-exempt investment securities		19,661		81	2.09	%		23,986		84	1.77	%
Fed funds sold & other		197,258		2,840	5.76	%		85,515		933	4.36	%
Total Interest Earning Assets		3,184,761	$	41,901	5.27	%		3,040,296	$	36,359	4.79	%

Nonearning Assets		168,055						180,193

Total Assets	$	3,352,816					$	3,220,489

Interest Bearing Liabilities:
Savings deposits	$	1,538,387	$	10,691	2.78	%	$	1,367,168	$	7,673	2.24	%
Other time deposits		667,224		6,256	3.75	%		667,880		5,650	3.38	%
Other borrowed money		264,539		2,804	4.24	%		266,467		2,741	4.11	%
Fed funds purchased & securities sold under agreement to repurchase		27,481		277	4.03	%		34,128		349	4.09	%
Subordinated notes		34,769		284	3.27	%		34,654		284	3.28	%
Total Interest Bearing Liabilities	$	2,532,400	$	20,312	3.21	%	$	2,370,297	$	16,697	2.82	%

Noninterest Bearing Liabilities		491,851						544,801

Stockholders’ Equity	$	328,565					$	305,391

Net Interest Income and Interest Rate Spread			$	21,589	2.06	%			$	19,662	1.97	%

Net Interest Margin					2.71	%					2.59	%

Yields on Tax exempt securities and the portion of the tax-exempt IDB loans included in loans have been tax adjusted based on a 21% tax rate in the charts


	For the Nine Months Ended						For the Nine Months Ended
	September 30, 2024						September 30, 2023
Interest Earning Assets:	Average Balance		Interest/Dividends		Annualized Yield/Rate		Average Balance		Interest/Dividends		Annualized Yield/Rate
Loans	$	2,561,774	$	108,666	5.66	%	$	2,470,770	$	94,851	5.12	%
Taxable investment securities		397,466		5,575	1.87	%		396,917		4,544	1.53	%
Tax-exempt investment securities		20,684		249	2.03	%		24,865		277	1.88	%
Fed funds sold & other		165,227		7,231	5.84	%		67,869		1,866	3.67	%
Total Interest Earning Assets		3,145,151	$	121,721	5.17	%		2,960,421	$	101,538	4.57	%

Nonearning Assets		161,113						176,568

Total Assets	$	3,306,264					$	3,136,989

Interest Bearing Liabilities:
Savings deposits	$	1,487,809	$	30,291	2.71	%	$	1,373,110	$	18,854	1.83	%
Other time deposits		662,129		18,423	3.71	%		620,071		13,054	2.81	%
Other borrowed money		264,310		8,235	4.15	%		204,927		6,134	3.99	%
Fed funds purchased & securities sold under agreement to repurchase		27,887		837	4.00	%		37,649		1,181	4.18	%
Subordinated notes		34,741		853	3.27	%		34,625		853	3.28	%
Total Interest Bearing Liabilities	$	2,476,876	$	58,639	3.16	%	$	2,270,382	$	40,076	2.35	%

Noninterest Bearing Liabilities		507,843						561,001

Stockholders’ Equity	$	321,545					$	305,606

Net Interest Income and Interest Rate Spread			$	63,082	2.01	%			$	61,462	2.22	%

Net Interest Margin					2.68	%					2.77	%

Yields on Tax exempt securities and the portion of the tax-exempt IDB loans included in loans have been tax adjusted based on a 21% tax rate in the charts

FARMERS & MERCHANTS BANCORP, INC. AND SUBSIDIARIES AVERAGE BALANCE SHEETS AND RELATED YIELDS AND RATES (in thousands of dollars, except percentages)

	For the Three Months Ended September 30, 2024													For the Three Months Ended September 30, 2023
	As Reported				Excluding Acc/Amort				Difference					As Reported				Excluding Acc/Amort				Difference
	$		Yield		$		Yield		$			Yield		$		Yield		$		Yield		$			Yield
Interest Earning Assets:
Loans	$	36,873	5.78	%	$	36,149	5.67	%	$	724		0.11	%	$	33,783	5.33	%	$	32,631	5.15	%	$	1,152		0.18	%
Taxable investment securities		2,107	2.03	%		2,107	2.03	%		–		0.00	%		1,559	1.58	%		1,559	1.58	%		–		0.00	%
Tax-exempt investment securities		81	2.09	%		81	2.09	%		–		0.00	%		84	1.77	%		84	1.77	%		–		0.00	%
Fed funds sold & other		2,840	5.76	%		2,840	5.76	%		–		0.00	%		933	4.36	%		933	4.36	%		–		0.00	%
Total Interest Earning Assets		41,901	5.27	%		41,177	5.17	%		724		0.10	%		36,359	4.79	%		35,207	4.64	%		1,152		0.15	%

Interest Bearing Liabilities:
Savings deposits	$	10,691	2.78	%	$	10,691	2.78	%	$	–		0.00	%	$	7,673	2.24	%	$	7,673	2.24	%	$	–		0.00	%
Other time deposits		6,256	3.75	%		6,256	3.75	%		–		0.00	%		5,650	3.38	%		5,500	3.29	%		150		0.09	%
Other borrowed money		2,804	4.24	%		2,800	4.23	%		4		0.01	%		2,741	4.11	%		2,759	4.14	%		(18	)	-0.03	%
Federal funds purchased and securities sold under agreement to repurchase		277	4.03	%		277	4.03	%		–		0.00	%		349	4.09	%		349	4.09	%		–		0.00	%
Subordinated notes		284	3.27	%		284	3.27	%		–		0.00	%		284	3.28	%		284	3.28	%		–		0.00	%
Total Interest Bearing Liabilities		20,312	3.21	%		20,308	3.21	%		4		0.00	%		16,697	2.82	%		16,565	2.80	%		132		0.02	%

Interest/Dividend income/yield		41,901	5.27	%		41,177	5.17	%		724		0.10	%		36,359	4.79	%		35,207	4.64	%		1,152		0.15	%
Interest Expense / yield		20,312	3.21	%		20,308	3.21	%		4		0.00	%		16,697	2.82	%		16,565	2.80	%		132		0.02	%
Net Interest Spread		21,589	2.06	%		20,869	1.96	%		720		0.10	%		19,662	1.97	%		18,642	1.84	%		1,020		0.13	%
Net Interest Margin			2.71	%			2.62	%				0.09	%			2.59	%			2.46	%				0.13	%


	For the Nine Months Ended September 30, 2024													For the Nine Months Ended September 30, 2023
	As Reported				Excluding Acc/Amort				Difference					As Reported				Excluding Acc/Amort				Difference
	$		Yield		$		Yield		$			Yield		$		Yield		$		Yield		$			Yield
Interest Earning Assets:
Loans	$	108,666	5.66	%	$	106,588	5.55	%	$	2,078		0.11	%	$	94,851	5.12	%	$	92,364	4.99	%	$	2,487		0.13	%
Taxable investment securities		5,575	1.87	%		5,575	1.87	%		–		0.00	%		4,544	1.53	%		4,544	1.53	%		–		0.00	%
Tax-exempt investment securities		249	2.03	%		249	2.03	%		–		0.00	%		277	1.88	%		277	1.88	%		–		0.00	%
Fed funds sold & other		7,231	5.84	%		7,231	5.84	%		–		0.00	%		1,866	3.67	%		1,866	3.67	%		–		0.00	%
Total Interest Earning Assets		121,721	5.17	%		119,643	5.08	%		2,078		0.09	%		101,538	4.57	%		99,051	4.47	%		2,487		0.10	%

Interest Bearing Liabilities:
Savings deposits	$	30,291	2.71	%	$	30,291	2.71	%	$	–		0.00	%	$	18,854	1.83	%	$	18,854	1.83	%	$	–		0.00	%
Other time deposits		18,423	3.71	%		18,423	3.71	%		–		0.00	%		13,054	2.81	%		13,458	2.89	%		(404	)	-0.08	%
Other borrowed money		8,235	4.15	%		8,254	4.16	%		(19	)	-0.01	%		6,134	3.99	%		6,187	4.03	%		(53	)	-0.04	%
Federal funds purchased and securities sold under agreement to repurchase		837	4.00	%		837	4.00	%		–		0.00	%		1,181	4.18	%		1,181	4.18	%		–		0.00	%
Subordinated notes		853	3.27	%		853	3.27	%		–		0.00	%		853	3.28	%		853	3.28	%		–		0.00	%
Total Interest Bearing Liabilities		58,639	3.16	%		58,658	3.16	%		(19	)	0.00	%		40,076	2.35	%		40,533	2.38	%		(457	)	-0.03	%

Interest/Dividend income/yield		121,721	5.17	%		119,643	5.08	%		2,078		0.09	%		101,538	4.57	%		99,051	4.47	%		2,487		0.10	%
Interest Expense / yield		58,639	3.16	%		58,658	3.16	%		(19	)	0.00	%		40,076	2.35	%		40,533	2.38	%		(457	)	-0.03	%
Net Interest Spread		63,082	2.01	%		60,985	1.92	%		2,097		0.09	%		61,462	2.22	%		58,518	2.09	%		2,944		0.13	%
Net Interest Margin			2.68	%			2.59	%				0.09	%			2.77	%			2.64	%				0.13	%

Company Contact:	Investor and Media Contact:
Lars B. Eller President and Chief Executive Officer Farmers & Merchants Bancorp, Inc. (419) 446-2501 leller@fm.bank	Andrew M. Berger Managing Director SM Berger & Company, Inc. (216) 464-6400 andrew@smberger.com

The MIL Network –

January 25, 2025

MIL-OSI USA: October 29th, 2024 Heinrich, Leger Fernández Highlight Over $22 Million to Build a New Terminal at Clovis Regional Airport, Participate in Terminal Groundbreaking Ceremony

US Senate News:

Source: United States Senator for New Mexico Martin Heinrich

PHOTOS/VIDEOS

CLOVIS, N.M. — Today, U.S. Senator Martin Heinrich (D-N.M.), a member of the Senate Appropriations Committee, and U.S. Representative Teresa Leger Fernández (D-N.M.) participated in a groundbreaking ceremony to begin construction on a new 21,000 square foot terminal at Clovis Regional Airport (CVN). The new terminal at Clovis Regional Airport is fully funded by a $15.7 million grant and a $3.5 million grant from the Infrastructure Law — legislation passed by Democrats in the N.M. Congressional Delegation — and a Heinrich-led $3.5 million Congressionally Directed Spending award that is advancing in the Fiscal Year 2025 Transportation, Housing and Urban Development, and Related Agencies Appropriations Bill that passed out of the Senate Appropriations Committee in July.

These three investments, totaling $22,700,000, are making it possible for Clovis to complete the new terminal.

The terminal at Clovis Regional Airport will better connect the community, improve travelers’ experiences, create high-quality jobs, and grow local economies across New Mexico.

U.S. Senator Martin Heinrich (D-N.M.) speaks at a groundbreaking ceremony to begin construction on a new terminal at Clovis Regional Airport (CVN), October 29, 2024.

“When we invest in New Mexico’s airports, we invest in the people who rely on these facilities to do business in our state, create jobs, and contribute to our economy,” said Heinrich. “I am proud to have secured funding from the Infrastructure Law to fully construct Clovis Regional Airport’s new terminal and I will keep fighting to secure more investments to improve airports all across New Mexico — improving travelers’ experiences, creating high quality jobs New Mexicans can build their families around, and driving our state’s economic growth for the future.”

“Thanks to our work on the Bipartisan Infrastructure Law, this $22 million investment will create good jobs, connect families across the region, and drive economic vitality for communities across eastern New Mexico,” said Leger Fernández. “Today’s groundbreaking at the Clovis Regional Airport gets us closer to connecting eastern New Mexico to new economic opportunities and supporting the region’s growth. This new terminal isn’t just about creating a strong foundation for the future of Clovis — it’s about creating a strong foundation for the future of eastern New Mexico. I also want to thank Senator Heinrich for his leadership as he champions rural projects like this one in the Senate Appropriations Committee.”

U.S. Senator Martin Heinrich (D-N.M.) and U.S. Representative Teresa Leger Fernández (D-N.M.) participate in a groundbreaking ceremony to begin construction on a new terminal at Clovis Regional Airport (CVN), October 29, 2024.

The Infrastructure Law is delivering billions of dollars in historic infrastructure investments to New Mexico.

The Infrastructure Law is set to invest $4.3 billion in formula funding alone for at least 337 vital projects in New Mexico. Some of the projects and priorities that have already received federal funding from the Infrastructure Law include:

$1.8 billion for New Mexico’s roads and bridges.

$379 million over five years, based on formula funding, for New Mexico’s public transit. To date, New Mexico has been allocated $147.2 million to improve public transportation options across the state in Fiscal Year 2022.

$710 million for clean drinking water in New Mexico.

$362.3 million for infrastructure resilience, including $23.4 million through the Army Corps of Engineers for flood mitigation in New Mexico.

$160 million, the first installment of funding from the Infrastructure Law, to support the completion of the Eastern New Mexico Rural Water System pipeline in Eastern New Mexico.

$3 billion across Indian Country to help Tribes deploy broadband infrastructure.

$52.4 million for capping orphaned oil and gas wells and reclaiming abandoned mine lands and $20.7 million has been allocated to cleaning up Superfund and Brownfield sites across New Mexico.

$38 million over five years, based on formula funding, to support the expansion of an EV charging network in the state.

$74.9 million for clean energy, energy efficiency, and power in New Mexico.

$50 million for airports across New Mexico.

$33 million for clean and low emission buses in New Mexico.

The Infrastructure Law is also helping 173,000 New Mexico households save on broadband. For eligibility on internet programs, visit GetInternet.gov.

For more information, click here to see a map of funding and announced projects in New Mexico through the Infrastructure Law.

Find a fact sheet of the investments New Mexico has received through the Infrastructure Law here.

MIL OSI USA News –

January 25, 2025

MIL-OSI Banking: Kid Witness News (KWN) Global Summit 2024—Announcement of Award Results

Source: Panasonic

Headline: Kid Witness News (KWN) Global Summit 2024—Announcement of Award Results

Participating countries (11 countries)
Brazil, Cambodia, China, India, Indonesia, Japan, Malaysia, Philippines, United Arab Emirates, United States, Vietnam
* Presented in alphabetical order* Participants will be able to view a live stream of the summit on the day of the summit.

MIL OSI Global Banks –

January 25, 2025

MIL-OSI: Amundi: Third quarter and nine-month 2024 results

Source: GlobeNewswire (MIL-OSI)

Amundi: Third quarter and nine-month 2024 results

Net income¹^,²up +16% Q3/Q3 and record assets under management at €2.2 trillion

Strong growth in earnings and revenues		Q3 – adjusted net income¹^,² at €337m, fast-growing: +16.1% Q3/Q3 Thanks to revenue growth (+10.5%) and positive jaws effect Q3/Q3 cost/income ratio improvement at 52.9%³ 9 months – adjusted net income¹^,² at €1,005m, up +10.4% 9M/9M Earnings per share²: €1.65 for Q3, €4.91 for 9M

Record AuM & dynamic MLT inflows⁵		Record assets under management³: €2,192bn at 30 September 2024, up +11% year-on-year Q3 net inflows³ of +€2.9bn, or +€14.5bn excluding the exit from a large, low-income institutional mandate⁴ +€9.1bn in MLT assets⁴^,⁵^,⁶ Solid commercial momentum of Asian JVs: +€5.3bn

Continued strategic progress		ETFs⁶: +€8bn in Q3 net inflows, now more than €250bn in assets under management Third-party distribution: +€7bn Q3 net inflows, with contribution from all regions and asset classes Asia: +€7bn in Q3 net inflows, from JVs and direct distribution in Japan, Singapore, Hong Kong, Taiwan and China Technology: revenues +42% Q3/Q3 Victory Capital: approval⁷ of the partnership with Amundi secured at EGM, transaction expected to close in Q1 2025

Paris, 30 October 2024

Amundi’s Board of Directors met on 29 October 2024 under the chairmanship of Philippe Brassac, and reviewed the financial statements for the third quarter and the first 9 months of 2024.

Valérie Baudson, Chief Executive Officer, said:
« Amundi’s results in the third quarter of 2024 demonstrate our ongoing strategic progress and continued growth potential. Our Q3 net profit¹^,²of €337m, increased by +16% compared to the same period in 2023 and exceeded one billion euros over 9 months. Assets under management reached a record level of €2.2 trillion.

We have been able to support our clients whatever their profile and needs, which has resulted in a high level of net inflows in our strategic development areas, namely Asia, Third-Party Distributors, and ETFs.

By putting clients at the heart of our strategy and by continuing to develop the areas of expertise that primarily seek to meet their needs, we are ideally positioned to seize growth opportunities in the savings industry. »

* * * * *

Further progress in achieving our 2025 Ambitions plan

Q3 2024 saw key areas of focus under the “2025 Strategic Ambitions” plan contribute to activity and earnings growth.

ETFs exceeded €250bn in assets under management at the end of September, up +31% year-on-year, thanks in particular to very dynamic net inflows reaching +€17bn over 9 months, including +€8bn in Q3. This places Amundi in second place in the European market in terms of net inflows this quarter⁸. these inflows are well diversified across equity and fixed income products, with a high share of products classified as responsible investment⁹ in net inflows (+€3bn, or 34% market share in flows in this market segment). Amundi has had many commercial successes this quarter: for example, the Amundi ETF Stoxx Europe 600 is the best-selling (+€0.85bn) European equity ETFs in Q3, the Amundi ETF Euro Government Tilted Green Bond, launched last year, saw its assets under management exceed €3bn after gathering +€1.1bn since the beginning of the year, and the Amundi ETF Prime ACWI exceeded €1bn in assets under management 8 months after its launch.
Third-Party Distribution reached €377bn in assets under management at the end of September, up +24% year-on-year, with net inflows +€19bn for 9 months 2024, and +€7bn in Q3, thanks to contributions from all regions and asset classes, from ETFs, treasury products and active management;
Asia assets under management increased by +17% year-on-year to €458bn; net inflows for 9 months 2024 stood at +€30bn with a significant contribution from Amundi’s Indian JV SBI MF, which now has €278bn in assets, up +19% year-on-year (+€18bn in net inflows); €103bn of total Asian assets under management come from direct distribution excluding JVs (+20% year-on-year), with net inflows for 9 months 2024 standing at +€3bn in Japan, +€2.4bn Singapore, +€1.4bn Hong Kong and also +€1.7bn in China outside the two JVs, mainly with institutional clients;
The Technology & Services offering is also experiencing strong growth, with technology revenues of €54m over 9 months, up +28% compared to the same period in 2023, and even +42% Q3/Q3; the Fund Channel fund distribution platform exceeded €490bn in assets at the end of September 2024; during the quarter it signed a distribution agreement with ING Germany and integrated the fintech AirFund into its ecosystem to digitise access to private markets; Fund Channel was also ranked “Best Distribution Platform” for the third consecutive year by the consulting and research firm Platforum;
In fixed income expertise, Amundi now manages €1,160bn in assets¹⁰ across a wide range of solutions, from treasury products to target maturity funds, offering attractive returns and capital protection; fixed income net inflows stood at +€46bn¹⁰ over 9 months and +€14bn¹⁰ in Q3 thanks to sustained activity in active bond strategies (+€11bn excluding JV) and ETFs (+€2.5bn);
The partnership project with Victory Capital reached an important milestone with shareholder approval of resolutions⁷ necessary to finalise the transactions, expected in Q1 2025. As a reminder, this partnership aims at creating a larger US investment platform, via the contribution of Amundi US to Victory Capital in return for Amundi taking a 26%-stake of the combined entity as well as 15-year distribution agreements, to serve the clients of both companies; Amundi would thus have a greater number of US and global management expertise to offer its clients. The transaction, which involves no disbursement of cash, is expected to bring a low single-digit accretion for Amundi shareholders, with an increase in the contribution of our US operations to the adjusted net income and EPS.

Activity

Market environment

In the third quarter of 2024, equity markets¹¹ increased by +1.1% in average compared to the previous quarter and by +15.6% compared to Q3 2023. The European bond markets¹² also rose, reflecting the shift in monetary policy and the ECB’s decision to cut rates. Year-on-year, our benchmark index¹² increased by +6.3% in Q3 2024 compared to Q3 2023 and by +2.1% compared to Q2 2024. The market effect is therefore positive on the evolution of Amundi’s revenues and net income.

When compared to the 2021 averages used as a reference for the 2025 Ambitions plan, the market effect is only slightly positive.

The European asset management market continues its gradual recovery. Open-ended fund volumes¹³, at +€213bn in the third quarter, continued to be driven by treasury products (+€93bn) and passive management (+€75bn). Nevertheless, the third quarter recorded positive flows in medium- to long-term active management for the second quarter in a row (+€45bn), driven by fixed income strategies (+€69bn).

High level of activity over the quarter in MLT assets⁵, assets under management at a record level of €2.2tn

Activity this quarter continues to be marked, like the rest of the European market, by risk aversion among retail clients. However, Amundi performed well, driven in particular by ETFs, bond solutions, third-party distributors and Asia. Excluding the exceptional exit from a low-income insurance mandate⁴, net inflows were positive in all major medium- to long-term areas of expertise (passive, active, structured products and real assets), in all client segments (Retail, Institutional and JV), and in all major markets (France, Italy, Germany, Asia and the United States).

Amundi’s assets under management at 30 September 2024 increased by +11.1% year-on-year (compared to the end of September 2023) and by +1.6% quarter-on-quarter (compared to the end of June 2024), to €2,192bn, an all-time high.

In the third quarter of 2024, the market and currency effect amounted to +€32.5bn (+€175.9bn over a year) and Amundi generated positive net inflows of +€2.9bn. As announced at the time of the second quarter results publication, this amount includes the exit of a low-income multi-asset mandate⁴ with a European insurer, of €11.6bn.

Adjusted for this exit⁴, net inflows for the quarter were +€14.4bn of which +€9.1bn in MLT Assets⁵. It was positive in active management (+€4.3bn) and ETFs (+€7.8bn), partially offset by outflows from index strategies. Structured products and real and alternative assets also recorded positive net inflows (+€0.8bn), while treasury products were flat (+€0.1bn).

Finally, the JVs¹⁴continued their solid commercial momentum, with net inflows of +€5.3bn, reflecting a positive contribution from India (SBI MF, +€6.0bn) and South Korea (NH-Amundi, +€0.4bn), partially offset this quarter by slight net outflows in China (ABC-CA) despite continued open-ended net inflows.

By Client Segment, Retail recorded net inflows of +€6.3bn, of which +€1.3bn in MLT assets⁵, with contrasting developments according to the sub-segments:

Third-Party Distributors had another very good quarter in terms of total net inflows (+€6.8bn); all regions contributed to these inflows, which were highly diversified across asset classes, with positive contributions from ETFs, treasury products but also active management (+€1.5bn);
Risk aversion has a larger impact on the activity of partner network clients in France (+€1.1bn) and outside France excluding Amundi BOC WM (-€0.9bn), despite the good performance of structured and treasury products as well as bond strategies; Sabadell’s network in Spain continues its sales momentum (+€0.4bn);
In China, Amundi BOC WM posted net outflows this quarter (-€0.7bn), as the maturities of fixed-term funds were not offset by open-ended fund subscriptions.

Excluding the loss of the low-income insurance mandate already mentioned⁴, the Institutional segment recorded very positive inflows in MLT Assets⁵(+€7.8bn), in all sub-segments: Institutional & Sovereigns with +€4.4bn, CA & SG insurance mandates with +€2.4bn thanks to the continued recovery of the traditional life insurance Euro contracts this quarter, Corporates and Employee Savings (+€1.0bn) thanks to net inflows in short-term bond products from corporates. Net outflows in Treasury Products (-€4.9bn) are to a large extent seasonal.

Results

Sustained growth in net income, +16% Q3/Q3 to €337m, and more than €1bn in the 9 months of 2024

Adjusted data²

In the third quarter of 2024, adjusted net income²reached €337m, up +16.1% compared to the third quarter of 2023. Since the second quarter, it includes Alpha Associates, whose acquisition was finalised in early April.

The growth in net income was mainly due to organic revenue growth, amplified by operating efficiency, which led to a positive jaws effect, and by the very strong momentum of Asian JVs. These results were achieved against the backdrop of continued client risk aversion, and inflation.

Adjusted net revenues² reached €862m, up +10.5% compared to the third quarter of 2023.

The sustained growth in net management fees, up +9.2% compared to the third quarter of 2023, to €805m, reflects the good level of activity and the increase in average assets under management excluding JVs (+8.6% over the same period);
Performance fees (€20m) doubled compared to the third quarter of 2023 (€10m), a low basis of comparison; however, they were down compared to the second quarter of 2024 (€50m) due to the lower level of crystallisation¹⁵ in the third quarter than in the second and fourth quarters, as it does every year; however, the performance of Amundi’s management is at a good level, with more than 71% of assets under management ranked in the first or second quartiles according to Morningstar¹⁶ over 1, 3 or 5 years and 257 Amundi funds rated 4 or 5 stars by Morningstar as of 30 September;
Amundi Technology’s revenues, at €20m, continued to grow steadily (+41.8% compared to the third quarter of 2023; +13.0% compared to the second quarter of 2024), confirming the development of this business;
Finally, the Financial and other income² amounted to €17m, down slightly compared to the third quarter of 2023 and previous quarters.

The increase in operating expenses², by +7.4% compared to the third quarter of 2023, to €456m, remains lower than the increase in revenues (+10.5%) over the same period, thus generating a positive jaws effect which reflects the Group’s operational efficiency.

The increase is mainly due to:

the first consolidation of Alpha Associates;
the provision for individual variable remuneration in line with the increase in results;
and finally the acceleration of investments in development initiatives according to the axes of the 2025 Ambitions Plan, particularly in technology.

The Cost income ratio improved to 52.9% in adjusted data² compared to the same quarter last year, and remains in line with the 2025 target and at the best level in the industry.

The Adjusted gross operating income²(EBIT) amounted to €406m, up +14.2% compared to the third quarter of 2023, reflecting double-digit revenue growth amplified by operational efficiency.

Income from equity-accounted companies, which reflects Amundi’s share of the net income of minority JVs in India (SBI MF), China (ABC-CA), South Korea (NH-Amundi) and Morocco (Wafa Gestion), was up +36.5% compared to the third quarter of 2023, to €33m, representing 10% of adjusted net income, reflecting the good level of activity in India and Korea.

Adjusted earnings per share²in the third quarter of 2024 reached €1.65, up +16.0%.

Accounting data in the third quarter of 2024

Accounting Net income Group share amounted to €320m and includes non-cash charges related to acquisitions, in particular the amortisation of intangible assets related to distribution and client contracts (-€24m before tax in the quarter including the corresponding new charges related to Alpha Associates, see details in p. 11), representing a total of -€17m after tax.

Accounting earnings per share in the third quarter of 2024 reached €1.56.

In the first 9 months of 2024, adjusted net income²amounted to €1,005m, up +10.4%, reflecting the same trends as in the third quarter:

Adjusted net revenues² grew by +7.3% compared to the first 9 months of 2023, to €2,573m, reflecting as in the quarter the sustained growth in management fees (+6.6%) and the strong increase in Amundi Technology’s revenues (€54m, +28.2%) and financial and other income² (€67m, +38.2%); performance fees, on the other hand, were down by -2.0% to €88m;
Adjusted operating expenses² are well controlled with an increase of +5.9% compared to the first 9 months of 2023, at €1,356m, resulting in a positive jaws effect;
Adjusted cost income ratio² stands at 52.7%.

Adjusted gross operating income² was €1,217m, up +8,9% compared to the first 9 months of 2023, showing a higher growth rate than revenue growth thanks to operating efficiency.

Income from equity-accounted companies increased by +28.6% compared to the first 9 months of 2023, to €94m.

Adjusted earnings per share²for the first 9 months of 2024 reached €4.91, up +10.1% compared to the first 9 months of 2023.

Accounting data for the first 9 months of 2024

Accounting Net income Group share amounted to €956m and includes non-cash charges related to acquisitions, in particular the amortisation of intangible assets related to distribution and client contracts (-€68m before tax in the 9 months including the corresponding new charges related to Alpha Associates, see details on p. 11), representing a total of -€49m after tax in the first 9 months of 2024.

Accounting earnings per share for the first 9 months of 2024 reached €4.67.

To be noted for the fourth quarter and full-year 2024

Success of the capital increase reserved for employees – The capital increase reserved for employees “We Share Amundi”, announced on 23 September 2024, is expected to be completed tomorrow, 31 October 2024. This operation offered for the seventh consecutive year a subscription of shares at a discount.

It was once again a great success this year: more than 2,000 employees in 15 countries subscribed to this capital increase, for a total amount of €36.3m. This represents nearly two out of three employees in France and more than two out of five worldwide.
This transaction, which is in line with the existing legal authorisations voted by the Shareholders’ Meeting on 12 May 2023, reflects Amundi’s desire to involve its employees not only in the development of the Company but also in the creation of economic value.

The impact of this transaction on earnings per share will be very limited: the number of shares to be created will be 771,628 (i.e. ~0.4% of the share capital before the transaction).
This issue will bring the number of shares making up Amundi’s share capital to 205,419,262 as of 31 October 2024, i.e. a share capital increased to €513,548,155.
Employees will now hold around 1.7% of Amundi’s capital, compared to 1.3% before the transaction. In the fourth quarter of 2024, the Amundi Group will record in its consolidated financial statements a charge relating to the subscription discount of €12.3m before tax.

On the basis of the Finance Bill presented by the French government, an exceptional tax contribution on the profits of large companies would apply to Amundi, whose turnover in France for tax purposes is more than €3bn.

* * * * *

APPENDICES

Adjusted income statement²of the first 9 months of 2024 and 2023

(€m)	9M 2024	9M 2023	% chg. 9M/9M

Net revenue – Adjusted	2,573	2,397	+7.3%
Management fees	2,364	2,217	+6.6%
Performance fees	88	89	-2.0%
Technology	54	42	+28.2%
Net financial & other net income	67	49	+38.2%
Operating expenses – Adjusted	(1,356)	(1,280)	+5.9%
Cost income ratio – Adjusted (%)	52.7%	53.4%	-0.7pp
Gross operating income – Adjusted	1,217,	1,117,	+8.9%
Cost of risk & other	(7)	(5)	+24.5%
Equity-accounted companies	94	73	+28.6%
Income before tax – Adjusted	1,305	1,185	+10.1%
Corporate tax	(302)	(277)	+8.8%
Non-controlling interests	2	3	-25.2%
Net income, Group share – Adjusted	1,005	910	+10.4%
Depreciation of intangible assets after tax	(49)	(44)	+11.6%
Integration costs net of tax	0	0	NS
Net income, Group share	956	866	+10.3%
Earnings per share (€)	4.67	4.25	+10.0%
Earnings per share – Adjusted (€)	4.91	4.46	+10.1%

Adjusted income statement²of the third quarter of 2024

(€m)	Q3 2024	Q3 2023	% chg. Q3/Q3	Q2 2024	% chg. Q3/Q2

Net revenue – Adjusted	862	780	+10.5%	887	-2.9%
Management fees	805	737	+9.2%	794	+1.3%
Performance fees	20	10	+97.3%	50	-58.9%
Technology	20	14	+41.8%	17	+13.0%
Net financial & other net income	17	19	-10.6%	26	-34.0%
Operating expenses – Adjusted	(456)	(424)	+7.4%	(461)	-1.1%
Cost income ratio – Adjusted (%)	52.9%	54.4%	-1.5pp	51.9%	+1.0pp
Gross operating income – Adjusted	406	356	+14.2%	426	-4.8%
Cost of risk & other	(2)	(3)	-36.0%	(5)	-63.4%
Equity-accounted companies	33	24	+36.5%	33	-0.1%
Income before tax – Adjusted	437	377	+15.9%	454	-3.9%
Corporate tax	(101)	(88)	+14.9%	(105)	-3.8%
Non-controlling interests	1	1	-23.5%	0	NS
Net income, Group share – Adjusted	337	290	+16.1%	350	-3.7%
Depreciation of intangible assets after tax	(17)	(15)	+17.9%	(17)	+1.2%
Integration costs net of tax	0	0	NS	0	NS
Net income, Group share	320	276	+16.0%	333	-4.0%
Earnings per share (€)	1.56	1.35	+15.9%	1.63	-4.0%
Earnings per share – Adjusted (€)	1.65	1.42	+16.0%	1.71	-3.7%

Evolution of assets under management from the end of 2020 to the end of September 2024¹⁷

(€bn)	Assets under management	Net inflows	Market & Forex Effect	Scope effect			Change in AuM vs. previous quarter
As of 31/12/2020	1,729				/	+4.0%
Q1 2021		-12.7	+39.3		/
As of 31/03/2021	1,755				/	+1.5%
Q2 2021		+7.2	+31.4		/
As of 30/06/2021	1,794				/	+2.2%
Q3 2021		+0.2	+17.0		/
As of 30/09/2021	1,811				/	+1.0%
Q4 2021		+65.6	+39.1		+148¹⁸
As of 31/12/2021	2,064				/	+14%
Q1 2022		+3.2	-46.4		/
As of 31/03/2022	2,021				/	-2.1%
Q2 2022		+1.8	-97.75		/
As of 30/06/2022	1,925				/	-4.8%
Q3 2022		-12.9	-16.3		/
As of 30/09/2022	1,895				/	-1.6%
Q4 2022		+15.0	-6.2		/
As of 31/12/2022	1,904				/	+0.5%
Q1 2023		-11.1	+40.9		/
As of 31/03/2023	1,934				/	+1.6%
Q2 2023		+3.7	+23.8		/
As of 31/06/2023	1,961				/	+1.4%
Q3 2023		+13.7	-1.7		/
As of 30/09/2023	1,973				/	+0.6%
Q4 2023		+19.5	+63.8		-20
As of 31/12/2023	2,037				/	+3.2%
Q1 2024		+16.6	+63.0		/
As of 31/03/2024	2,116				/	+3.9%
Q2 2024		+15.5	+16.6		+8
30/06/2024	2,156					+1.9%
Q3 2024		+2.9	+32.5		/
30/09/2024	2,192					+1.6%

Total over one year between September 30, 2023 and September 30, 2024: +11.1%

Net inflows +€54.5bn
Market & exchange rate effects +€175.9bn
Scope effects -€12.2bn
(disposal of Lyxor Inc. in Q4 2023, first consolidation of Alpha Associates in Q2 2024)

Details of assets under management and net inflows by client segments¹⁹

(€bn)	AuM 30.09.2024	AuM 30.09.2023	% change /30.09.2023	Net flows Q3 2024	Net flows Q3 2023	Net flows 9M 2024	Net flows 9M 2023
French networks	138	126	+9.1%	+1.1	+0.9	+0.3	+4.6
International networks	167	156	+7.1%	-1.6	-1.0	-4.4	-3.2
o/w Amundi BOC WM	3	4	-26.9%	-0.7	-0.5	-0.5	-3.3
Third-party distributors	377	305	+23.5%	+6.8	+2.1	+19.2	+4.1
Retail	681	587	+16.1%	+6.3	+2.0	+15.1	+5.6
Institutional & Sovereigns (*)	518	489	+6.0%	-9.3	+17.9	+1.4	+14.4
Corporates	113	97	+16.0%	+2.3	-3.8	-5.8	-7.4
Employee savings plans	92	84	+9.8%	-0.5	-0.9	+2.5	+2.6
CA & SG insurers	428	406	+5.3%	-1.2	-3.9	+0.5	-9.6
Institutional	1,151	1,076	+6.9%	-8.7	+9.3	-1.4	+0.0
JVs	360	310	+16.0%	+5.3	+2.4	+21.3	+0.7
Total	2,192	1,973	+11.1%	+2.9	+13.7	+35.0	+6.3

Details of assets under management and net inflows by asset classes¹⁹

(€bn)	AuM 30.09.2024	AuM 30.09.2023	% change /30.09.2023	Net flows Q3 2024	Net flows Q3 2023	Net flows 9M 2024	Net flows 9M 2023
Equity	527	443	+18.9%	-0.7	+7.0	+0.0	+2.0
Multi-assets	274	274	-0.0%	-15.4	-5.9	-22.3	-17.0
Bonds	732	624	+17.3%	+12.8	+7.7	+36.8	+10.1
Real, alternative & structured assets	114	124	-8.3%	+0.8	-1.1	+1.5	+2.4
MLT ASSETS excl. JVs	1,647	1,465	+12.4%	-2.5	+7.8	+16.1	-2.4
Treasury products excl. JVs	185	198	-6.5%	+0.1	+3.5	-2.4	+8.0
Assets excl. JVs	1,832	1,663	+10.1%	-2.4	+11.3	+13.6	+5.6
JVs	360	310	+16.0%	+5.3	+2.4	+21.3	+0.7
TOTAL	2,192	1,973	+11.1%	+2.9	+13.7	+35.0	+6.3
*o/w MLT assets*	*1,973*	*1,745*	*+13.1%*	*+3.4*	*+11.3*	*+34.9*	*-0.7*
*o/w Treasury products*	*219*	*229*	*-4.2%*	*-0.5*	*+2.5*	*+0.1*	*+7.1*

Details of assets under management and net inflows by management type and asset classes¹⁹

(€bn)	AuM 30.09.2024	AuM 30.09.2023	% change /30.09.2023	Net flows Q3 2024	Net flows Q3 2023	Net flows 9M 2024	Net flows 9M 2023
Active management	1,136	1,022	+11.1%	-7.1	-1.9	+2.2	-15.6
Equity	208	187	+11.4%	-2.3	-1.6	-5.4	-2.5
Multi-assets	263	265	-0.9%	-15.7	-6.3	-23.4	-18.2
Bonds	665	570	+16.6%	+10.8	+6.1	+31.0	+5.1
Structured products	43	35	+22.3%	+0.8	-0.2	+2.7	+2.9
Passive management	397	319	+24.5%	+3.8	+10.8	+12.4	+10.8
ETFs & ETC	251	192	+31.1%	+7.8	+3.6	+17.3	+8.0
Index & Smart Beta	146	127	+14.5%	-4.0	+7.2	-5.0	+2.8
Real & alternative assets	71	89	-20.5%	+0.0	-0.9	-1.2	-0.5
Real assets	67	63	+4.8%	+0.2	-0.3	-0.1	+0.2
Alternative assets	4	25	-83.8%	-0.2	-0.6	-1.1	-0.7
MLT ASSETS excl. JVs	1,647	1,465	+12.4%	-2.5	+7.8	+16.1	-2.4
Treasury products excl. JVs	185	198	-6.5%	+0.1	+3.5	-2.4	+8.0
TOTAL ASSETS excl. JVs	1,832	1,663	+10.1%	-2.4	+11.3	+13.6	+5.6
JVs	360	310	+16.0%	+5.3	+2.4	+21.3	+0.7
TOTAL	2,192	1,973	+11.1%	+2.9	+13.7	+35.0	+6.3

Details of assets under management and net inflows by geographical areas¹⁹

(€bn)	AuM 30.09.2024	AuM 30.09.2023	% change /30.09.2023	Net flows Q3 2024	Net flows Q3 2023	Net flows 9M 2024	Net flows 9M 2023
France	987	903	+9.3%	+2.8	+4.1	+12.8	-1.2
Italy	202	197	+2.7%	-10.8	-1.5	-13.8	-2.2
Europe excl. France & Italy	421	353	+19.2%	+1.9	-0.8	+6.0	+6.0
Asia	458	392	+17.0%	+7.4	+3.4	+29.6	-0.3
Rest of the world	124	129	-4.3%	+1.7	+8.4	+0.4	+4.0
TOTAL	2,192	1,973	+11.1%	+2.9	+13.7	+35.0	+6.3
*TOTAL outside France*	1,204	1,070	+12.5%	+0.1	+9.6	+22.2	+7.5

Methodology Appendix

Accounting & adjusted data

Accounting data – These include the amortization of intangible assets, recorded as other income, and since Q2 2024, other non-cash expenses spread according to the schedule of payments of the earn-out until the end of 2029; these expenses are recognized as deductions from net income, in finance costs.

The aggregate amounts of these items are as follows for the different periods under review:

Q1 2023: -€20m before tax and -€15m after tax
Q2 2023: -€20m before tax and -€15m after tax
Q3 2023: -€20m before tax and -€15m after tax
9M 2023: -€61m before tax and -€44m after tax
2023: -€82m before tax and -€59m after tax
Q1 2024: -€20m before tax and -€15m after tax
Q2 2024: -€24m before tax and -€17m after tax
Q3 2024: -€24m pre-tax and -€17m after tax
9M 2024: -€68m before tax and -€49m after tax

There were no significant integration costs recorded in the third quarter as a result of the acquisition of Alpha Associates

Adjusted data – in order to present an income statement closer to economic reality, the following adjustments are made: restatement of the amortization of distribution contracts with Bawag, UniCredit and Banco Sabadell, intangible assets representing the client contracts of Lyxor and, since the second quarter of 2024, Alpha Associates, as well as other non-cash charges related to the acquisition of Alpha Associates; such depreciation and amortization and non-cash expenses are recorded as a deduction from net revenues.

Acquisition of Alpha Associates

In accordance with IFRS 3, recognition of Amundi’s balance sheet as at 01/04/2024:

goodwill of €290m;
an intangible asset of €50m representing client contracts, depreciable on a straight-line basis until the end of 2030;
a liability representing the conditional earn-out not yet paid, for €160m, including an actuarial discount of -€30m, which will be amortized over 6 years.

In the Group’s income statement, the following is recorded:

amortization of intangible assets for a full-year expense of -€7.6m (-€6.1m after tax)
other non-cash expenses spread according to the schedule of payments of the earn-out until the end of 2029; These expenses are recorded as deductions from net income, as finance costs.

In Q3 2024, the amortization of intangible assets was -€1.9m before tax (-€1.5m after tax) and non-cash expenses were -€1.4m before tax (i.e. -€1.1m after tax). Over the first 9 months of 2024, these expenses are respectively -€3.8m and -€2.9m (-€6.6m in total), since they only started in Q2.

Alternative Performance Measures²⁰

In order to present an income statement that is closer to economic reality, Amundi publishes adjusted data that excludes the depreciation of intangible assets and, since the second quarter of 2024, Alpha Associates, as well as other non-cash charges related to the acquisition of Alpha Associates.
Adjusted, normalized data are reconciled with accounting data as follows:

= accounting data

= adjusted data

(m€)	9M 2024	9M 2023	Q3 2024	Q3 2023	Q2 2024

Net operating income	2,452	2,307	825	747	844
Technology	54	42	20	14	17
Net financial income and other income	(1)	(13)	(6)	(1)	3
Adjusted net financial income and other income	67	49	17	19	26

Net revenues (a)	2,505	2,336	838	760,	864,
– Depreciation of intangible assets before tax	(65)	(61)	(22)	(20)	(22)
– other non-cash charges relating to Alpha Associates	(3)	0	(1)	0	(1)
Net revenues – Adjusted (b)	2,573	2,397	862,	780,	887

Operating expenses (c)	(1,356)	(1,280)	(456)	(424)	(461)
– Integration costs before tax	0	0	0	0	0
Operating expenses – Adjusted (d)	(1,356)	(1,280)	(456)	(424)	(461)

Gross operating income (e) = (a) + (c)	1,149	1,056	382	335	403
Gross operating income – Adjusted (f) = (b) + (d)	1,217	1,117	406	356	426
Cost-income ratio (%) -(c)/(a)	54.1%	54.8%	54.4%	55.9%	53.4%
Cost-income ratio – Adjusted (%) -(d)/(b)	52.7%	53.4%	52.9%	54.4%	51.9%
Cost of risk & other (g)	(7)	(5)	(2)	(3)	(5)
Equity-accounted companies (h)	94	73	33	24	33
Income before tax (i) = (e) + (g) + (h)	1,237	1,124	413	356	431
Income before tax – Adjusted (j) = (f) + (g) + (h)	1,305	1,185	437	377	454
Income tax (k)	(283)	(260)	(94)	(82)	(98)
Income tax – Adjusted (l)	(302)	(277)	(101)	(88)	(105)
Non-controlling interests (m)	2	3	1	1	0
Net income, Group share (o) = (i)+(k)+(m)	956	866	320	276	333
Net income, Group share – Adjusted (p) = (j)+(l)+(m)	1,005	910	337	290	350

Earnings per share (€)	4.67	4.25	1.56	1.35	1.63
Adjusted earnings per share (€)	4.91	4.46	1.65	1.42	1.71

Shareholding

	30 September 2023		31 December 2023		30 September 2024
(units)	Number of shares	% of share capital	Number of shares	% of share capital	Number of shares	% of share capital
Crédit Agricole Group	141,057,399	68.93%	141,057,399	68.93%	141,057,399	68.93%
Employees	3,042,292	1.49%	2,918,391	1.43%	2,751,891	1.34%
Treasury shares	1,297,231	0.63%	1,247,998	0.61%	958,031	0.47%
Free float	59,250,712	28.95%	59,423,846	29.04%	59,880,313	29.26%

Number of shares at end of period	204,647,634	100.0%	204,647,634	100.0%	204,647,634	100.0%
Average number of shares year-to-date	204,050,516	–	204,201,023	–	204,647,634	–
Average number of shares quarter-to-date	204,425,079	–	204,647,634	–	204,647,634	–

Average number of shares on a pro rata basis.

The average number of shares is unchanged between Q2 and Q3 2024, it increased by +0.1% between Q3 2023 and Q3 2024 and by +0.3% between the first 9 months of 2023 and the same period of 2024;
A capital increase reserved for employees will be carried out on October 31, 2024. 771,628 shares were created (approximately 0.4% of the share capital before the transaction), bringing the share of employees to about 1.7% of the capital, compared to 1.34% at September 30, 2024, before the transaction.

Financial communication calendar

Q4 and Full Year 2024 Results: February 4, 2025
Q1 2025 earnings release: April 29, 2025
Annual General Meeting: May 27, 2025
Q2 and H1 2025 earnings release: July 29, 2025
Q3 and 9-month 2025 results: October 28, 2025

About Amundi

Amundi, the leading European asset manager, ranking among the top 10 global players²¹, offers its 100 million clients – retail, institutional and corporate – a complete range of savings and investment solutions in active and passive management, in traditional or real assets. This offering is enhanced with IT tools and services to cover the entire savings value chain. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages close to €2.2 trillion of assets²².

With its six international investment hubs²³, financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape.

Amundi clients benefit from the expertise and advice of 5,500 employees in 35 countries.

Amundi, a trusted partner, working every day in the interest of its clients and society.

www.amundi.com

Press contacts:
Natacha Andermahr
Tel. +33 1 76 37 86 05
natacha.andermahr@amundi.com

Corentin Henry
Tel. +33 1 76 36 26 96
corentin.henry@amundi.com

Investor contacts:
Cyril Meilland, CFA
Tel. +33 1 76 32 62 67
cyril.meilland@amundi.com

Thomas Lapeyre
Tel. +33 1 76 33 70 54
thomas.lapeyre@amundi.com

Annabelle Wiriath

Tel. + 33 1 76 32 43 92

annabelle.wiriath@amundi.com

WARNING

This document does not constitute an offer or invitation to sell or purchase, or any solicitation of any offer to purchase or subscribe for, any securities of Amundi in the United States of America or in France. Securities may not be offered, subscribed or sold in the United States of America absent registration under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements thereof. The securities of Amundi have not been and will not be registered under the U.S. Securities Act and Amundi does not intend to make a public offer of its securities in the United States of America or in France.

This document may contain forward looking statements concerning Amundi’s financial position and results. The data provided do not constitute a profit “forecast” or “estimate” as defined in Commission Delegated Regulation (EU) 2019/980.

These forward looking statements include projections and financial estimates based on scenarios that employ a number of economic assumptions in a given competitive and regulatory context, assumptions regarding plans, objectives and expectations in connection with future events, transactions, products and services, and assumptions in terms of future performance and synergies. By their very nature, they are therefore subject to known and unknown risks and uncertainties, which could lead to their non-fulfilment. Consequently, no assurance can be given that these forward looking statement will come to fruition, and Amundi’s actual financial position and results may differ materially from those projected or implied in these forward looking statements. [In particular, conditions to completion of the announced transaction between Amundi and Victory Capital, may not be satisfied and such transaction may not be completed on schedule, or at all; risks relating to the expected benefits or impact of the transaction on Victory Capital’s and Amundi’s respective businesses are contained in their respective public filings.]

Amundi undertakes no obligation to publicly revise or update any forward looking statements provided as at the date of this document. Risks that may affect Amundi’s financial position and results are further detailed in the “Risk Factors” section of our Universal Registration Document filed with the French Autorité des Marchés Financiers. The reader should take all these uncertainties and risks into consideration before forming their own opinion.

The figures presented were prepared in accordance with applicable prudential regulations and IFRS guidelines, as adopted by the European Union and applicable at that date. The financial information set out herein do not constitute a set of financial statements for an interim period as defined by IAS 34 “Interim Financial Reporting” and has not been audited.

Unless otherwise specified, sources for rankings and market positions are internal. The information contained in this document, to the extent that it relates to parties other than Amundi or comes from external sources, has not been verified by a supervisory authority or, more generally, subject to independent verification, and no representation or warranty has been expressed as to, nor should any reliance be placed on, the fairness, accuracy, correctness or completeness of the information or opinions contained herein. Neither Amundi nor its representatives can be held liable for any decision made, negligence or loss that may result from the use of this document or its contents, or anything related to them, or any document or information to which this document may refer.

The sum of values set out in the tables and analyses may differ slightly from the total reported due to rounding.

¹        Net income Group share
²        Adjusted data: excluding amortisation of intangible assets relating to distribution and client contracts as well as other non-cash charges relating to the acquisition of Alpha Associates recorded in net financial income (see note p. 11)
³        Assets under management and flows including assets under advisory, marketed assets and funds of funds, and taking into account 100% of Asian JV’s assets and flows; for Wafa Gestion in Morocco, they are reported in proportion to Amundi’s holding in the capital of the JV
⁴        As announced at the time of the publication of the Q2 results, exit in Q3 from a large low-income mandate (€11.6 billion) with a European insurer, in multi-asset; including this exit, net inflows were positive by +€2.9bn in Q3 and +€35bn over 9 months
⁵        Medium-Long Term Assets
⁶        Excluding JVs
⁷        Extraordinary General Meeting of Shareholders of Victory Capital, held on 11 October 2024
⁸        Source: TrackInsight Q3 2024
⁹        Classified as article 8 or 9 of the SFDR regulation of the European Union
¹⁰        Including JV: €234bn in assets, +€12bn net inflows over 9 months and +€1bn in Q3
¹¹        50% MSCI World + 50% Eurostoxx 600 composite index for equity markets, average values over each period considered
¹²        Bloomberg Euro Aggregate for bond markets, average values over each reporting period
¹³        Source: Morningstar FundFile, ETFGI. European & cross-border open-ended funds (excluding mandates and dedicated funds). Data as of the end of June 2024.
¹⁴        Assets under management and flows including assets under advisory, marketed assets and funds of funds, and taking into account 100% of Asian JV’s assets and flows; for Wafa Gestion in Morocco, they are reported in proportion to Amundi’s holding in the capital of the JV
¹⁵        Anniversary dates of the funds triggering the recognition of these fees
¹⁶        Source: Morningstar Direct, Broadridge FundFile – Open-ended funds and ETFs, global fund scope, September 2024; as a percentage of the assets under management of the funds in question; the number of Amundi open-ended funds rated by Morningstar was 1063 at the end of September 2024. © 2024 Morningstar, all rights reserved
¹⁷        Assets under management and flows including assets under advisory, marketed assets and funds of funds, and taking into account 100% of Asian JV’s assets and flows; for Wafa Gestion in Morocco, they are reported in proportion to Amundi’s holding in the capital of the JV
¹⁸        Lyxor, integrated as of 31/12/2021
¹⁹        Assets under management and flows including assets under advisory, marketed assets and funds of funds, and taking into account 100% of Asian JV’s assets and flows; for Wafa Gestion in Morocco, they are reported in proportion to Amundi’s holding in the capital of the JV; as of 01/01/2024, reclassification of short-term bond strategies (€30 billion in outstandings) as Bonds previously classified as Treasury until that date; Outstanding amounts up to that date have not been reclassified in these tables
²⁰        See also the section 4.3 of the 2023 Universal Registration Document filed with the AMF on April 18, 2024
²¹Source: IPE “Top 500 Asset Managers” published in June 2024, based on assets under management as at 31/12/2023
²²Amundi data at 30/09/2024
²³Boston, Dublin, London, Milan, Paris and Tokyo

Attachment

Amundi PR results Q3&9M 2024

The MIL Network –

January 25, 2025

MIL-OSI Economics: Result of the Overnight Variable Rate Reverse Repo (VRRR) auction held on October 30, 2024

Source: Reserve Bank of India

Tenor	1-day
Notified Amount (in ₹ crore)	75,000
Total amount of offers received (in ₹ crore)	35,525
Amount accepted (in ₹ crore)	35,525
Cut off Rate (%)	6.49
Weighted Average Rate (%)	6.49
Partial Acceptance Percentage of offers received at cut off rate	NA

Ajit Prasad
Deputy General Manager
(Communications)

Press Release: 2024-2025/1399

MIL OSI Economics –

January 25, 2025

MIL-OSI Asia-Pac: Minister of State Sh. Kirti Vardhan Singh Highlights India’s Commitment to Global Biodiversity Conservation at COP16 in Colombia

Source: Government of India

Minister of State Sh. Kirti Vardhan Singh Highlights India’s Commitment to Global Biodiversity Conservation at COP16 in Colombia

India Advocates for Global Conservation with ‘Plant4Mother’ Campaign at COP16 in Colombia

Posted On: 30 OCT 2024 4:30PM by PIB Delhi

Union Minister of State for Environment, Forests and Climate Change, Shri Kirti Vardhan Singh delivered the national statement regarding the conservation of biological resources in the High Level Segment of the ongoing 16^th meeting of the Conference of Parties (CoP) to the Convention on Biological Diversity, in Cali, Colombia on 29^th October 2024.

Had the privilege of delivering India’s national statement during the plenary session of UNCBD COP16 at Cali, Colombia. India has been at the forefront of taking initiatives, executing programs and fostering collaborations to conserve our rich biodiversity. Mission LiFE,… pic.twitter.com/YNV2Me69nw

— Kirti Vardhan Singh (@KVSinghMPGonda) October 30, 2024

MoS Shri Singh congratulated Ms. Susana Muhamad, Minister of Environment of Colombia on taking over the COP Presidency from the longest serving COP President Mr. Huang Runqiu of China.

Speaking on the occasion, Shri Singh said that India has a rich culture and tradition of worshipping Mother Earth and of living in harmony with Nature. India is one of the world’s 17 Mega-diverse rich Nations housing four out of the 36 globally recognised biodiversity Hotspots. He said, “To honour Mother Earth as we honour our own Mothers, our Prime Minister this year launched a nation-wide tree plantation campaign ‘Ek Ped Maa Ke Naam’ or ‘Plant4Mother’ on the occasion of World Environment Day in our collective efforts to restore and protect our biodiversity.”

The Minister highlighted that ‘Peace with Nature’ has been part of India’s rich cultural heritage since ancient the Vedic age. The theme resonates with India’s mission of ‘Lifestyle for the Environment (LiFE)” an India led Global mass movement for adopting environment friendly lifestyles.

India has taken significant step in global wildlife conservation by establishing the International Big Cat Alliance (IBCA) aimed at protecting the world’s seven major big cat species, as their presence is indicative of a healthy ecosystems and rich biodiversity, Shri Singh informed.

The Minister said that India’s efforts in rejuvenating our sacred river Ganga through ‘Namami Gange’ Mission was duly recognized by United Nations as one of the top 10 World Restoration Flagships to revive the riverine ecosystem. He informed that India’s Ramsar sites has risen from 26 to 85 since 2014 and this number is shortly going to reach 100.

Shri Singh reiterated that India adopted a ‘Whole of Government’ and ‘Whole of Society’ approach while updating the National Biodiversity Strategy and Action Plan (NBSAP) with its targets aligned with the Kunming-Montreal Global Biodiversity Framework (KMGBF). He said that the Ministry would be releasing updated NBSAP on 30.10.2024 at Cali.

The Minister said that it is necessary to provide means of implementation including financial resources, as laid down in target 19 of the KMGBF as well as from DSI, for implementation of the NBSAP. Lot of ground needs to be covered in providing easily accessible means of implementation i.e. financial resources, technology and capacity building needs with the requisite Speed, Scope and Scale.

Shri Singh concluded by re-iterating India’s commitment towards protecting its own as well as global biodiversity for the present and future generations, in the true spirit of ‘Vasudhaiv Kutubakam – One Earth, One Family, One Future’.

*****

VM/GS

(Release ID: 2069563) Visitor Counter : 33

MIL OSI Asia Pacific News –

January 25, 2025

MIL-OSI Asia-Pac: Ministry of Civil Aviation Reaffirms Commitment to Unity and Accessibility on Rashtriya Ekta Diwas

Source: Government of India (2)

Posted On: 30 OCT 2024 3:54PM by PIB Delhi

On the eve of Rashtriya Ekta Diwas (National Unity Day), the Ministry of Civil Aviation came together to celebrate the birth anniversary of Sardar Vallabhbhai Patel, honoring his visionary efforts in unifying the nation. Leading the commemoration, Secretary of the Ministry of Civil Aviation Shri Vumlunmang Vualnam, along with senior officials and ministry staff, gathered at Rajiv Gandhi Bhawan to take a pledge to uphold the values of unity and integrity.

Following the pledge ceremony, a ‘Run for Unity’ was organised, with ministry officials and staff participating enthusiastically. The event symbolized the Ministry’s dedication to national integration and collective progress.

The Ministry of Civil Aviation remains steadfast in its commitment to promote national unity by ensuring that every citizen, regardless of region, culture, or language, has equal access to affordable and efficient air travel across India

PSF/DK

(Release ID: 2069544) Visitor Counter : 57

MIL OSI Asia Pacific News –

January 25, 2025

MIL-OSI Asia-Pac: When it comes to innovation and technology, Indian youth are among the best: PM

Source: Government of India (2)

Posted On: 30 OCT 2024 3:51PM by PIB Delhi

The Prime Minister Shri Narendra Modi today quoted GitHub CEO Thomas Dohmke, who lauded India for being the fastest growing developer population on the planet, calling the country’s rise as a global tech titan “inexorable”.

Shri Modi hailed the youth of India for their accomplishments in innovation and technology.

The Prime Minister posted on X:

“When it comes to innovation and technology, Indian youth are among the best!”

***

MJPS/RT

(Release ID: 2069539) Visitor Counter : 80

MIL OSI Asia Pacific News –

January 25, 2025

MIL-OSI Asia-Pac: Prime Minister Shri Narendra Modi pays homage to Shri Pasumpon Muthuramalinga Thevar

Source: Government of India

Posted On: 30 OCT 2024 3:38PM by PIB Delhi

The Prime Minister Shri Narendra Modi paid tributes to Shri Pasumpon Muthuramalinga Thevar on the occasion of his Guru Pooja today.

Shri Modi hailed his thoughts and teachings, adding that he always worked to to uplift society.

The Prime Minister posted on X:

“Paying homage to the widely respected Pasumpon Muthuramalinga Thevar Ji on the occasion of his Guru Pooja. Countless people derive strength from his thoughts and teachings. He devoted himself to making our society better, with a focus on poverty alleviation, spirituality and welfare of farmers. We will keep working to realise his vision.”

Paying homage to the widely respected Pasumpon Muthuramalinga Thevar Ji on the occasion of his Guru Pooja. Countless people derive strength from his thoughts and teachings. He devoted himself to making our society better, with a focus on poverty alleviation, spirituality and…

— Narendra Modi (@narendramodi) October 30, 2024

***

MJPS/RT

(Release ID: 2069528) Visitor Counter : 69

MIL OSI Asia Pacific News –

January 25, 2025

MIL-OSI Asia-Pac: Special Campaign 4.0 is in full swing in Department of Personnel & Training to achieve efficiency in decision making and disposal of pending items.

Source: Government of India (2)

Posted On: 30 OCT 2024 3:06PM by PIB Delhi

Drawing inspiration from the Prime Minister Shri Narendra Modi’s National vision to institutionalize Swachhata and enhance workplace efficiency, Department of Personnel & Training (DOPT), along with its Attached/ Sub- ordinate organizations, is actively participating in the main phase of Special Campaign 4.0. This campaign, which commenced on 2nd October and will continue through 31st October 2024, aims to make impactful, focused and significant improvements in Cleanliness and reducing pendency in office matters.

Enthusiastic participation has been witnessed from all the Attached and Subordinate offices functioning under the administrative control of DoPT across the country. Till date, more than 250 cleanliness sites have been covered.

Large scale awareness and Campaign advocacy through Social Media with several Tweets and posts on other platforms like X and Facebook leading to #SpecialCampaign4 has been gaining lot of attraction on Social Media.

During the campaign, focused attention has been accorded for bringing about overall improvement in working environment and improve office experience for the staff.

Records are being reviewed for digitization, preservation and weeding out. Secretary, DOPT visited the Record Room & Store Rooms of the Department and issued instructions for review and weeding out of records/stores in a time bound manner.

Records Management

Since the beginning of the Special Campaign 4.0 on 02^nd October, 2024, more than 31,000 physical files and more than 4800 e-files have been reviewed. Approx. 10,000 files have been identified for weeding out, 3500 filed weeded out and 90 files have been sent to National Archives of India. More than 1500 e-files have been closed so far.

Besides the above parameters, overall cleanliness of government offices with special focus on space management and enhancing work place experience of field offices was undertaken. 258 cleanliness campaign were conducted for cleaning of the offices in DoPT along with its Attached and Subordinate offices. The revenue of Rs. 96,516/- was generated by disposal of waste/scrapes. About 1400 Sq ft space has been freed due to scrap disposal and weeding of files.

Disposal of pendency

245 Public Grievances, 12 MP References, 3 IMC References (Cabinet Proposals), 68 State Government References, 2 PMO References, 57 Public Grievance Appeals have been disposed of during this period.

Special Activities / Events during the Special Campaign 4.0

Following activities have also been undertaken by this Department so far during the Special Campaign 4.0 for cleanliness and speedy disposal of the pendency:

Secretary, DoPT led the swachhtadrive on Swachh Bharat Diwas, 2^nd October, 2024 at Grih Kalyan Kendra, Lodhi Road, New Delhi with all the officers and staff of DoPT, GKK and CCSCSB. He also led a plantation drive on this occasion. All the officers planted a tree under the special campaign-Ek Ped Maake Naam. All safaimitras and school children received gifts on this occasions.
A workshop on Cyber Security was organized in DoPT during the preparatory phase of Special Campaign 4.0 on 30/09/2024 to spread Cyber Swachhta Awareness for the employees.
A Workshop for CISOs on Cyber Awareness/Security for various offices under the DoPT was conducted as part of Special Campaign 4.0 on 7^th October, 2024.
A workshop was conducted on 10^th October, 2024 by DoPT in coordination with ISTM on RTI Act, 2005.

The Special Campaign 4.0 is helping to bring about greater degree of awareness to maintain clean office environment and the need for overall environmental protection. Department of Personnel & Training is committed to achieve the targets identified during the preparatory phase.

****

NKR/KS/AG

(Release ID: 2069508) Visitor Counter : 60

MIL OSI Asia Pacific News –

January 25, 2025

MIL-OSI Asia-Pac: Second train with 840 metric tonnes of onion arrives in Delhi

Source: Government of India (2)

Second train with 840 metric tonnes of onion arrives in Delhi

Onions to be released in Azadpur Mandi to augment availability, part stock to retail for Rs 35 per kg

Train carrying another 840 metric tonnes of onion from Nashik to reach Guwahati

Posted On: 30 OCT 2024 2:49PM by PIB Delhi

Today another 840 MT of onions procured by National Agricultural Cooperative Marketing Federation of India (NAFED) under the price stabilization fund of Department of Consumer Affairs has arrived at Kishanganj Railway Station of Delhi for disposal in Delhi-NCR. This is the second bulk transportation of onions by train to Delhi-NCR after NCCF brought 1,600 MT of onions to Kishanganj Station on 20^th October, 2024 by Kanda express. Most of the onions will be released in Azadpur Mandi to augment overall availability in the market while part of the stock will go for retail sale at Rs 35 per kg.

The impact of bulk disposal of onion at Azadpur Mandi may be seen at graph given below:

Bulk transportation of onions by rail rake has been adopted, for the first time, for a timely, reliable and cost-effective delivery of onions to various regions. NAFED had earlier transported 840 MT of onions by rail rake from Nashik which arrived at Chennai on 26^th October, 2024. Another rail rake from Nashik to Guwahati has left Nashik early this morning with 840 MT of onions procured by NCCF. Bulk shipments by rail augments the continuous transportation of onions by trucks across the country.

The government had procured 4.7 lakh tons of rabi onion for the price stabilization buffer this year, and started the release from 5^th September, 2024 through retail sale at Rs 35 per kg and also through bulk sales in major mandis across the country. Till date over 1.40 lakh tonnes of onion in the buffer have been dispatched from Nashik and other source centres to consuming centres through trucks by road transport. As on date, NCCF has covered 104 destinations in 22 States and NAFED covered 52 destinations in 16 States in their onion disposal. The agencies have also partnered with retail chains such as SAFAL, Kendriya Bhandar and Reliance Retail for distribution of onions to retail consumers at Rs 35 per kg. In addition, 86,500 MT of onion has been allotted to 9 States Governments/Cooperative Societies for retail distribution.

Since the start of onion disposal till date, the retail prices of onion have substantially stabilized in major States such as Andhra Pradesh, Maharashtra, Karnataka, UP, Tamil Nadu and Delhi. All-India average retail prices remained largely stable during October. The onion shipment by rail to Guwahati will enhance availability in North-eastern States and is expected have dampening impact on prices in the region and also on the all-India average. Mandi prices in Nashik mandi also declined from the peak of Rs.47 per kg on 24^th September and is currently at 40 kg on 29^th October, 2024.

***

AD/AM

(Release ID: 2069506) Visitor Counter : 74

MIL OSI Asia Pacific News –

January 25, 2025

MIL-OSI Asia-Pac: Rajasthan CM calls on Prime Minister Shri Narendra Modi

Source: Government of India

Posted On: 30 OCT 2024 3:24PM by PIB Delhi

The Chief Minister of Rajasthan Bhajan Lal Sharma called on the Prime Minister Shri Narendra Modi today.

The Prime Minister’s Office (PMO) posted on X:

“Chief Minister of Rajasthan, Shri @BhajanlalBjp, met Prime Minister @narendramodi.”

***

MJPS/RT

(Release ID: 2069513) Visitor Counter : 63

MIL OSI Asia Pacific News –

January 25, 2025

MIL-OSI Asia-Pac: Shri Shailesh Kumar Singh, Secretary chaired the inter-ministerial meeting to bolster support for the Ministry of Rural Development’s Nayi Chetna 3.0 Campaign Against Gender-Based Violence

Source: Government of India

Shri Shailesh Kumar Singh, Secretary chaired the inter-ministerial meeting to bolster support for the Ministry of Rural Development’s Nayi Chetna 3.0 Campaign Against Gender-Based Violence

Campaign to be launched on 25 November 2024, the International Day for the Elimination of Violence Against Women

The month long campaign will run across all Indian States and Union Territories until December 23, 2024

The initiative will be led by DAY-NRLM’s Self-Help Group network

Posted On: 30 OCT 2024 2:31PM by PIB Delhi

The Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM) under the Ministry of Rural Development convened an inter-ministerial meeting yesterday to outline the strategic roadmap for ‘Nayi Chetna 3.0’ – the third edition of its National Campaign Against Gender-Based Violence.

Chaired by Shri Shailesh Kumar Singh, Secretary, Rural Development, the meeting brought together representatives from seven line ministries to discuss collaboration and action plans to raise awareness and reinforce response mechanisms against gender-based violence nationwide.

Smt. Smriti Sharan, Joint Secretary, Rural Development, commenced the meeting by presenting key findings from previous editions of the Nayi Chetna Campaign emphasizing the need for collaborative efforts, followed by an overview of the goals and structure for Nayi Chetna-3.0.

The month-long campaign will launch on November 25, 2024 and will run across all Indian States and Union Territories until December 23, 2024. The initiative will be led by DAY-NRLM’s Self-Help Group (SHG) network, embodying the spirit of Jan Andolan (people’s movement)

Led by the Ministry of Rural Development, the meeting saw participation from line ministries including the Ministries of Health and Family Welfare, Information and Broadcasting, Women and Child Development, Panchayati Raj, Youth Affairs, Social Justice and Empowerment and the Department of Justice. Discussions focused on fostering convergence to strengthen preventive efforts, improve access to support systems, and leverage each ministry’s expertise to drive the campaign’s objectives. A draft joint advisory delineating each ministry’s role was discussed and reviewed. The discussion threw light on the different forms of violence that could be prioritized and steps that could be taken to address these barriers.

In his remarks, Shri Charanjit Singh, Additional Secretary, Rural Development, commended the suggestions made during the meeting and called for formalizing the advisory to drive the campaign in mission mode.

In his closing remarks, Shri Shailesh Kumar Singh emphasized the necessity for a united approach across ministries to combat gender-based violence, fostering widespread social change.

The Nayi Chetna Campaign seeks to amplify awareness and drive informed action to address gender-based violence through grassroots initiatives. Since its inception, Nayi Chetna has mobilized millions nationwide, creating a substantial movement for gender equality and women’s empowerment. In its first year, the campaign reached 3.5 crore people, supported by multiple line ministries, while the second edition, Nayi Chetna 2.0, involved 5.5 crore participants across 31 States and Union Territories, with over 9 lakh awareness activities on gender-based violence conducted nationwide.

*****

SS

(Release ID: 2069503) Visitor Counter : 23

Read this release in: Hindi

MIL OSI Asia Pacific News –

January 25, 2025

MIL-OSI Asia-Pac: World Stroke Day 2024 celebrated by organizing Nation-wide programmes at National Institutes and Regional Centres under DEPwD

Source: Government of India (2)

World Stroke Day 2024 celebrated by organizing Nation-wide programmes at National Institutes and Regional Centres under DEPwD

Objective – Raise Awareness on Stroke and reduce restorant Disability and Mortality Rates

Posted On: 30 OCT 2024 2:15PM by PIB Delhi

On the occasion of World Stroke Day (29^th October 2024), National Institutes and Composite Regional Centres under the Department of Empowerment of Persons with Disabilities (DEPwD) organized various programmes, to raise awareness about the severity of stroke, its prevention, and treatment. This year’s objective is to reduce disability and mortality rates caused by stroke.

According to statistics, stroke is the second leading cause of death globally and the third leading cause of disability. Every year, nearly 1.8 million people are affected by stroke. In light of this critical issue, awareness programs were organized nationwide by DEPwD to address the impact of stroke.

The National Institute for Locomotor Disabilities (NILD) in Kolkata conducted street plays and awareness sessions aimed at educating the public about stroke. In these sessions, experts discussed the symptoms, risks, and preventive measures associated with stroke.

The Composite Regional Center (CRC) in Nellore held an awareness session where they discussed the importance of World Stroke Day, causes of stroke, and its effects. Experts highlighted that timely response and proper treatment can save many lives. Additionally, the CRC provided information on services available for those affected by stroke.

Other CRCs in Kullu, Bolangir, Rajnandgaon, and other locations also organized awareness programmes, focusing on educating people about recognizing early symptoms of stroke and seeking timely medical help.

Through these initiatives, the DEPwD aims to increase awareness about stroke and emphasize that with the right knowledge and vigilance, the risks associated with stroke can be significantly reduced. Through the World Stroke Day programs, the department reaffirms its commitment to making the public more aware of stroke and its implications.

*****

VM

(Release ID: 2069499) Visitor Counter : 28

MIL OSI Asia Pacific News –

January 25, 2025

MIL-OSI Asia-Pac: Special Campaign 4.0 – 2nd October, 2024 to 31st October, 2024

Source: Government of India (2)

Posted On: 30 OCT 2024 1:53PM by PIB Delhi

The objective of this campaign is to minimize pendency, institutionalize swachhata, and strengthen internal monitoring mechanisms, digitization of physical records and monitoring mechanisms for swachhata. Sanitization and cleanliness is going on priority basis under Swachhata Campaign 4.0.

On 2^nd October, 2024 on the occasion of Mahatma Gandhi Jayanti and Swachh Bharat Diwas a Shramdaan event has been organized in the premises of Shastri Bhawan led by Shri Udaya Kuamara, Additional Secretary, Shri R.K. Pattanayak, Joint Secretary/Nodal Officer, Dr. K.V. Kumar, Joint Secretary and other senior officers and staff including Safai Karmacharis of this Department and attached offices. In addition to that Shri Udaya Kumara, Additiaonal Secretary and Shri R.K. Pattanayak, Joint Secretary/Nodal Officer have also visited all the Sections and corridors/toilets etc. and reviewed the ongoing campaign.

On 3^rd October, 2024 Dr. Rajiv Mani, Secretary Legislative Department along with Shri R.K. Pattanayak, JS&LC/Nodal Officer, Smt. Rakhi Biswas, Under Secretary, Shri Prashant Bhardwaj, Section Officer, Shri Sushil Kumar, Dealing Head visited Record Room, Digitization Unit and Sectons to review progress of the Campaign. 57,988 files/office records were digitized and 32 files were reviewed and weeded /shredded.

On 12^th October, 2024 Admn. II Section has been renovated and open up space and Cleanliness drive has been undertaken by the Department in corridors and sections. During the Campaign, One of the best practices viz beautification of walls (wall art) in the corridors/premises housed by Legislative Department was carried out.

The internal mechanized cleanliness in workplace on 15^th October, 2024, were made such as cleaning activities, dusting, sanitizing surfaces, and proper waste disposal to ensure a hygienic workspace, to identification of unwanted records and article in sections for weeding out, preparing a list of obsolete items for auction under the supervision of Shri R.K. Pattanayak, Nodal Officers/JS&LC in the Legislative Department were also made.

During the Campaign, on 20^th October, 2024 the Legislative Department organized a shramdaan event at a black spot i.e. Ghazipur, round about, East Delhi which was identified by the Department for cleanliness drive and to spread the message of cleanliness and hygiene. The event of sharmdaan was led by Dr. Rajiv Mani, Secretary Legislative Department along with other senior officers of the Legislative Department namely Shri Udaya Kumara, Additional Secretary, Shri R.K. Pattanayak, JS&LC/Nodal Officer, Dr. K.V. Kumar, JS&LC and Shri Dhruv Kumar Singh, CCA along with several officers and staff of the Department including attached offices and the Department of Legal Affairs. On the occasion, Secretary (LD) distributed Swachhata Kit/ T-Shirt/ Cap to the Safai Karamchari and emphasized upon the importance of the Campaign, the overall benefit of the society and the nation.

On 22^nd October 2024, Legislative Department has successfully completed e-Auction for old and obsolete items in presence of Auction Committee and earned revenue of Rs. 5,01,000/- and cleanliness drive undertaken by the Department under the supervision of Shri R.K Pattanayak, JS&LC/Nodal Officer.

On 26^th October, 2024 experts hired by the department for weeded/shredded out of unwanted files/records of the Legislative Department in the supervision of Shri R.K. Pattanayak, JS&LC/Nodal Officer.

On 28^th October 2024, circular has been issued to all sections of the Legislative Department including attached offices i.e. Official Language Wing and Vidhi Sahitya Prakashan for providing information reducing pendency of the Department and thereafter all sections have been instructed to dispose of pending matters of Special Campaign 4.0.

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SB/DP/ARJ

(Release ID: 2069494) Visitor Counter : 62

MIL OSI Asia Pacific News –

January 25, 2025

MIL-OSI Asia-Pac: National Internet Exchange of India unveils new office at World Trade Centre, New Delhi along with its new initiatives

Source: Government of India (2)

National Internet Exchange of India unveils new office at World Trade Centre, New Delhi along with its new initiatives

MeitY Secretary unveils NIXI’s latest digital initiatives for a Secure and Inclusive Internet; Festive Offer for .in Accredited Registrars, to drive adoption of .in domain

NIXI and TCIL sign Strategic Agreement to bolster user trust with SSL Certificates

Posted On: 30 OCT 2024 1:51PM by PIB Delhi

The National Internet Exchange of India (NIXI) today celebrated the grand inauguration of its new office at the World Trade Centre, Nauroji Nagar, New Delhi. The event was presided over by Sh. S Krishnan, Secretary, Ministry of Electronics and Information Technology (MeitY) and Chairman, NIXI along with Shri Bhuvnesh Kumar, Additional Secretary, MeitY, Shri Sushil Pal, Joint Secretary, MeitY, and Shri Rajesh Singh, Joint Secretary and Financial Adviser, MeitY. This event marked a significant step in NIXI’s ongoing efforts to strengthen India’s internet infrastructure and foster digital growth.

As part of the event, Secretary MeitY also unveiled a few of the initiatives undertaken by NIXI, such as a Festive Offer for .in Accredited Registrars, aimed at accelerating the adoption of the .in domain across the users. He mentioned that NIXI has a very important role to play in the field of Internet, not just at national level but also globally. NIXI is ready to make a difference in this field as its role is being redefined right now, he added.

NIXI’s CSR Impact Report for FY 23-24

The ceremony also featured the launch of NIXI’s CSR Impact Report for FY 23-24, highlighting the organization’s achievements in the realm of corporate social responsibility. The report showcased NIXI’s work in promoting digital literacy, expanding internet accessibility, and contributing to community development. It also outlined future goals, reaffirming NIXI’s commitment to supporting India’s digital economy and social empowerment initiatives.

Strategic Agreement with TCIL

The event was also marked by the signing of a strategic agreement with M/s Telecommunications Consultants India Ltd (TCIL) for the implementation of NIXI SSL Certificate Authority (SSL CA). This partnership will enhance internet security across India by providing trusted SSL certification services, ensuring safe online transactions and bolstering user trust.

On this occasion, Dr. Devesh Tyagi, CEO NIXI said that as of now we have booked 41 lakh domains and our next target is to reach 50 lakh which will be a very significant target. We have 77 exchange points across the country which have proven helpful in keeping our data within the country. We are also planning to bring a new scheme to increase these exchange points.

About NIXI

Set up on 19th June 2003, the National Internet Exchange of India (NIXI) is a not-for-profit (Section 8) company under the aegis of the Ministry of Electronics and Information Technology, Government of India. It is tasked with increasing internet penetration and adoption in India by facilitating various infrastructure aspects to enable the internet ecosystem to be managed and used by the masses.

The four services under NIXI include: Internet Exchange Points (IXPs) for building Internet Exchange Points, .IN Registry for building the .in domain digital identity, IRINN for IPv4 and IPv6 addresses adoption, and Data Centre services under NIXI-CSC for data storage services.

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Dharmendra Tewari/Kshitij Singha

(Release ID: 2069493) Visitor Counter : 65

MIL OSI Asia Pacific News –

January 25, 2025

MIL-OSI Asia-Pac: TRAI releases Consultation Paper on ‘Framework for Service Authorizations for provision of Broadcasting Services under the Telecommunications Act, 2023’

Source: Government of India (2)

Posted On: 30 OCT 2024 1:06PM by PIB Delhi

The Telecom Regulatory Authority of India (TRAI) has today released a Consultation Paper on ‘Framework for Service Authorizations for provision of Broadcasting Services under the Telecommunications Act, 2023’.

The Ministry of Information and Broadcasting (MIB) through a letter dated 25^th July 2024, sent a reference to TRAI informing that the Telecommunications Act, 2023 has been published in the Official Gazette of India. Section 3(1)(a) of the Telecommunications Act, 2023, which is yet to be notified, provides for obtaining an authorization by any entity/ person intending to provide telecommunication services, subject to such terms and conditions, including fees or charges, as may be prescribed.

In respect of the broadcasting services, the reference has apprised that many broadcasting platforms (which employ radio waves and spectrum for offering services) viz. DTH, HITS, IPTV, Uplinking/Downlinking of television channels (including teleports), SNG, DSNG, Community Radio, FM Radio etc. are issued license/ permission/ registration by MIB under Section 4 of the Indian Telegraph Act, 1885, which is replaced by the Telecommunications Act, 2023.

The Ministry also shared a background note providing the details of the policy guidelines of various licenses/ permissions/ registrations issued by MIB and the relevant sections of the Telecommunications Act, 2023 that may have a bearing on the terms and conditions of authorizations.

MIB, through the said letter dated 25.07.2024, under Section 11(1)(a) of the TRAI Act, 1997, requested TRAI to provide its recommendations on the terms and conditions, including fees or charges; for authorization to provide broadcasting services, with the objective of aligning it to the Telecommunications Act, 2023 and harmonizing the terms and conditions across various service providers, so that the terms and conditions for the authorizations of broadcasting services may be notified as Rules under the Telecommunications Act, 2023.

Accordingly, a Consultation Paper on ‘Framework for Service Authorizations for provision of Broadcasting Services under the Telecommunications Act, 2023’ has been placed on the TRAI’s website (www.trai.gov.in) for seeking comments/ counter comments from the stakeholders. Written comments on the issues raised in the Consultation Paper are invited from stakeholders by 20^th November 2024 and counter-comments by 27^th November 2024, respectively.

The comments/ counter-comments may be sent, preferably by email to advbcs-2@trai.gov.in and jtadvisor-bcs@trai.gov.in. For any clarification/ information, Shri Deepak Sharma, Advisor (Broadcasting & Cable Services), TRAI may be contacted at Tel. No. +91-11- 20907774.

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SB/DP/ARJ

(Release ID: 2069479) Visitor Counter : 81

MIL OSI Asia Pacific News –

January 25, 2025

MIL-OSI Asia-Pac: India’s ‘Ek Ped Maa Ke Naam’ Campaign gains Global Momentum with Plantation Drive in Colombia

Source: Government of India (2)

India’s ‘Ek Ped Maa Ke Naam’ Campaign gains Global Momentum with Plantation Drive in Colombia

Minister of State Shri Kirti Vardhan Singh leads Plantation Drive in Colombia to promote ‘#Plant4Mother’ Initiative

Posted On: 30 OCT 2024 1:02PM by PIB Delhi

On the side lines of the 16th Meeting of the Conference of Parties (COP 16) to the UN Convention on Biological Diversity (UNCBD), the Union Minister of State for Environment, Forest and Climate Change, Shri Kirti Vardhan Singh, led a plantation drive under the framework of ‘Ek Ped Maa Ke Naam (#Plant4Mother)’ Campaign in University of Valle, Cali, Colombia on 29th October 2024. The plantation drive was graced by His Excellency Mr. Vanlalhuma, Ambassador of India to Colombia; Ms. Mónica García Solarte, Vice Rector, University of Valle; and Mr. Guillermo Murillo Vargas, Rector, University of Valle, along with the participation of faculty members and students. A sapling was also planted in the University on the name of mother of Shri Tanmay Kumar, Special Secretary, Ministry of Environment, Forests and Climate Change.
During the plantation drive, the Rector; Vice Rector and Director of International Cooperation of the University of Valle, also planted saplings on the name of their mother.

On the occasion, Shri Kirti Vardhan Singh interacted with the faculty members and students of the University and encouraged them to embrace sustainable practices in their daily lives and emphasized on involvement of youth in environmental conservation. More than 30 students and faculty members enthusiastically participated the plantation drive.

The campaign ‘Ek Ped Maa Ke Naam (#Plant4Mother)’ was launched on Word Environment Day this year, by Prime Minister of India Shri Narendra Modi. It is a unique initiative combining environmental responsibility with a heartfelt tribute to mothers. This campaign was inaugurated with the planting of a Peepal tree by the Prime Minister.

During the launch of this Campaign, Shri Modi emphasized on the involvement of citizens worldwide and importance of collective efforts to improve the environment and spoke of India’s strides in increasing forest cover over the past decade. This campaign aligns with the Nation’s quest for sustainable development.

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VM/GS

(Release ID: 2069475) Visitor Counter : 28

MIL OSI Asia Pacific News –

January 25, 2025

MIL-OSI Asia-Pac: Model developed to understand equatorial ionospheric processes important for GNSS-based navigation

Source: Government of India

Posted On: 30 OCT 2024 12:38PM by PIB Delhi

Scientists tracking a very narrow band of intense electric current in the earth’s ionosphere called Equatorial ElectroJet through ground-based magnetometers in India’s southern tip have developed an empirical model to understand the equatorial electrodynamical processes that can impact satellite orbital dynamics, Global Positioning Systems and other satellite communication links as well as electrical power grids.

Earth’s geomagnetic equator passes very close to the southern tip of India, where a unique and very strong current of the order of 100 kA known as Equatorial ElectroJet (EEJ), flows at around 105-110 km height in the upper atmosphere. Due to this intense current jet, the geomagnetic field near the equator is uniquely enhanced by a few tens to a few hundreds of nano tesla (nT).

Measuring this current intensity through the geomagnetic field enhancement provides an important understanding of the variation of ionospheric electric field. Therefore, understanding and modelling of EEJ variations would have important applications in assessing the satellite orbital dynamics, Global Positioning Systems and other satellite communication links, electrical power grids, etc.

IIG regularly measures this EEJ current using ground-based magnetometers located at an equatorial station Tirunelveli, very close to the southern tip of India.

Understanding the EEJ variations from long-term observations for more than two decades, scientists from Indian Institute of Geomagnetism (IIG) Navi Mumbai, an autonomous institute of Department of Science and Technology, have developed an empirical model that can predict the EEJ current very accurately. The research has been published in the journal Space Weather.

This model, named “Indian Equatorial Electrojet (IEEJ) Model” is the first empirical model that can accurately predict the Equatorial Electrojet over the Indian sector and has been made publicly available. The model’s web interface facilitates the user to simulate the EEJ for any given date and solar activity conditions; and enables to obtain output in ASCII and/or PNG graphical formats.

The model can be used to understand the unique equatorial ionospheric processes and can have applications in GNSS-based navigation/positioning, transmission lines, and the oil/gas industry that uses long-distance pipelines.

The web-portal for the Indian Equatorial Electrojet Model (IIGM), https://iigm.res.in/system/files/IEEJ_model.html

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NKR/KS/AG

(Release ID: 2069472) Visitor Counter : 62

MIL OSI Asia Pacific News –

January 25, 2025

MIL-OSI Asia-Pac: RAJBHASHA PRIZE DISTRIBUTION CEREMONY 2024

Source: Government of India (2)

Posted On: 29 OCT 2024 7:00PM by PIB Delhi

Naval Headquarters conducted Rajbhasha Prize Distribution Ceremony – 2024 on 24 October 2024 at NCS Delhi auditorium, Chanakya Bagh. V Adm Vineet McCarty, Controller Personnel Services graced the occasion as Chief Guest and gave away prizes to the winners. This ceremony marks the culmination of Hindi Fortnight activities which were held from 18 – 30 Sep 24 this year. Over 200 personnel from different directorates attended the event which saw presentation of 60 awards in different categories. Renowned poet Rear Admiral Khurram Shehzad Noor (Retd) participated in the event as Guest of Honour and enthralled the audience with his poems. The coveted Rajbhasha Rolling Trophies were awarded to the Directorate of Naval Design (Submarine Design Group), Directorate of Logistics Support and Directorate of Aircraft Acquisition and for doing maximum work

MIL OSI Asia Pacific News –

January 25, 2025

MIL-OSI Asia-Pac: Anti-counterfeiting ink developed using luminescent nanomaterials can curb document duplication

Source: Government of India

Posted On: 30 OCT 2024 12:37PM by PIB Delhi

A novel ink with enhanced security features developed with luminescent nanomaterials can help stop counterfeiting in currency, certificates, branded goods and medicines.

Counterfeiting is a growing problem worldwide and researchers are trying to find unique ways to prevent it. Luminescent properties of rare earth ions and the characteristic emissions of bismuth have long been known.

Scientists at the Institute of Nano Science and Technology (INST), an autonomous institute of Department of Science and Technology, have used this property of rare earth materials, to synthesis a first of its kind security ink based on luminescent nanomaterials with rare earth doping, enabling excitation dependent luminescence (Under both UV and NIR light it gives Visible emission).

The ink can overcome the limitations of current covert tags, which are security features usually visible only under UV light and can be easily duplicated.

The new ink offers enhanced security features through its ability to display different colours under various light wavelengths. Specifically, the ink appears vibrant blue under 365 nm light, pink under 395 nm light, and orange-red under 980 nm near-infrared (NIR) light and remains effective under a range of light, temperature, and humidity conditions.

The luminescent nanomaterial was synthesised using a simple co-precipitation method at 120°C. After synthesis, the nanomaterials were dispersed into commercially available PVC ink using sonication (process of dispersing nanoparticles into solvent by applying sound energy).

This mixture was then used to create patterns and letters through a screen-printing technique. These printed patterns, when exposed to different wavelengths of light, clearly showed the desired colour changes, proving the effectiveness of the ink.

By combining rare earth ions with well-known luminescent properties and bismuth with characteristic emissions the team was able to enhance the encryption and decryption capabilities of the ink, improving its security potential.

The luminescent ink made from these nanomaterials has significant potential to combat counterfeiting. It can be applied to fake-proof various items, including currency, certificates, medicines, and branded products. This allows both consumers and manufacturers to easily verify the authenticity of their items, providing a simple yet powerful tool to detect counterfeits.

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NKR/KS/AG

(Release ID: 2069470) Visitor Counter : 55

MIL OSI Asia Pacific News –

January 25, 2025

MIL-OSI Asia-Pac: On the eve of Rashtriya Ekta Diwas, Union Health Minister Shri JP Nadda Leads Pledge for National Unity

Source: Government of India (2)

Posted On: 30 OCT 2024 10:50AM by PIB Delhi

On the eve of Rashtriya Ekta Diwas (National Unity Day), Union Health Minister Shri Jagat Prakash Nadda, led a gathering of officials and staff from the Union Health Ministry in a pledge to strengthen the unity and integrity of India, here in Nirman Bhawan today. Shri Prataprao Jadhav, Union MoS for Health and Family Welfare and Smt. Punya Salila Srivastava, Union Health Secretary were also present. The event aimed to honour the legacy of Sardar Vallabhbhai Patel, whose vision and leadership played a pivotal role in unifying the nation.

During the ceremony, the Union Health Minister emphasized the importance of national unity in fostering a cohesive and progressive society. He stated, “Today, we reaffirm our commitment to the principles of unity and integrity that Sardar Patel championed. It is our collective responsibility to ensure that our actions and policies reflect the spirit of inclusiveness and diversity that makes India unique.”

The event included a reading of the pledge, where all participants vowed to work towards strengthening the bonds of unity among the diverse cultures, languages, and traditions of India.

The Union Health Ministry remains committed to its mission of improving public health and ensuring that the principles of unity and equality are upheld in all its initiatives.

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MV

HFW/ HFM Unity Pledge /30^th October 2024/1

(Release ID: 2069446) Visitor Counter : 60

MIL OSI Asia Pacific News –

January 25, 2025

MIL-OSI USA: Does Daylight Saving Time Actually Save? Research Shows Costs Outweigh Benefits

Source: US State of Connecticut

As we prepare to fall back once again this year on Sunday, Nov. 3, debates over the costs and benefits of Daylight Saving Time are sure to reemerge.

A bill to permanently end the practice passed in the Senate in 2022 and awaits further movement through the House of Representatives, indicating the argument to overturn the century-old policy is heating up.

Shinsuke Tanaka, assistant professor and director of graduate studies in the Department of Agricultural and Resource Economics, has published work that helps inform this policy debate with evidence about the costs of Daylight Saving Time (DST).

When Tanaka, who is originally from Japan, first came to the U.S., Daylight Saving Time felt like a shock, as Japan does not engage in the practice.

An expert in environmental and health economics, Tanaka decided to look into the costs and benefits of DST. He found that many other researchers had been questioning the economic, environmental, and health impacts as well.

DST was first implemented during World War I as an energy saving policy. However, recent studies have found that people actually consume more energy during DST, because with more daylight, people run air conditioners for longer, even if their lights aren’t on for as long.

“The cooling consumes more energy, and the studies have shown that the energy consumption overall increases during Daylight Saving Time,” Tanaka says.

People also go out more often during the extended daylight, usually in cars, which increases carbon emissions.

For his research, Tanaka focuses on Indiana, because until 2006, only some counties in Indiana participated in Daylight Saving Time. This means Tanaka can look at data from before 2006 and after and get a clear picture of any changes that may be related to the start of participating in the policy.

Shinsuke Tanaka, assistant professor of agricultural and resource economics. (Contributed photo)

“This creates the change in policy,” Tanaka says. “So, I can see what happened without DST in the previous year, and then I can see what happened to some outcome after they adopted DST.”

Tanaka focuses on heart attacks, one of the most serious health impacts related to DST. Previous studies demonstrated that the number of heart attacks increases after the time change in spring, when clocks move forward one hour.

This may be because people lose an hour of sleep in the spring transition, which has many negative health impacts. Our internal clocks also become misaligned with the external environment.

“There is no clear mechanism in the medical literature,” Tanaka says. “But the evidence shows that sleep is important for cardiovascular diseases, and people do lose one hour of sleep during the spring forward, so then we can infer that this is one of the mechanisms.”

Tanaka found a 27% increase in the number of heart attacks in Indiana for two weeks after springing ahead when the entire state started practicing DST compared to the year before, while no significant impact was observed at the fall transition. This increase at the spring transition was substantially higher than other studies which had found more modest changes, closer to 5%, in other countries.

Tanaka explains this difference may be due to differences in physical environments and lifestyle habits between countries. Tanaka was also better able to control for seasonality because he compared data from before and after the transition to practicing DST.

“Indeed, we found that heart attacks would have declined without DST, and that’s not quite controlled for in the medical literature,” Tanaka says. “In my own study, we can see what happened without practicing DST at this time of year so we can better control for that and then we find much bigger impacts.”

Some have argued that this short-term negative health impact is offset by the opportunity to engage in more outdoor physical activity in the extended daylight. Tanaka, however, has shown that this is not the case. His research presents the first comprehensive evidence examining the overall impacts during Daylight Saving Time, countering the notion that the benefits of increased daylight could compensate for these harms.

“That’s an important piece of evidence when it comes to the policy debate because people don’t just worry about the short-term impacts, but what is the overall impact,” Tanaka says. “So that’s what we need to understand.”

Tanaka found that the increase in the number of heart attacks remained relatively consistent from year-to-year, indicating that it was just a shock from starting the practice for the first time in 2006.

“It’s hard to justify this policy at this point,” Tanaka says. “There’s no such big benefit that can justify the significant costs that we see in many aspects.”

This work relates to CAHNR’s Strategic Vision area focused on Enhancing Health and Well-Being Locally, Nationally, and Globally.

Follow UConn CAHNR on social media

MIL OSI USA News –

January 25, 2025

MIL-OSI: Stock Yards Bancorp to Participate in the 2024 Hovde Group Financial Services Conference

Source: GlobeNewswire (MIL-OSI)

LOUISVILLE, Ky., Oct. 30, 2024 (GLOBE NEWSWIRE) — Stock Yards Bancorp, Inc. (NASDAQ: SYBT), parent company of Stock Yards Bank & Trust Company, with offices in Louisville, central, eastern and northern Kentucky, as well as the Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets, today announced that Ja Hillebrand, Chairman and CEO and T. Clay Stinnett, EVP and CFO will participate in the 2024 Hovde Group Financial Services Conference to be held November 6^th through November 8^th, and will participate in a series of meetings with institutional investors.

Management’s discussion materials to be used at this conference will be posted to the investor section of the Company’s website, www.syb.com, on or before November 6, 2024.

Louisville, Kentucky-based Stock Yards Bancorp, Inc., with $8.4 billion in assets, was incorporated in 1988 as a bank holding company. It is the parent company of Stock Yards Bank & Trust Company, which was established in 1904. The Company’s common shares trade on The Nasdaq Stock Market under the symbol “SYBT.”

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

The MIL Network –

January 25, 2025

MIL-OSI Economics: RBI to conduct 14-day Variable Rate Reverse Repo (VRRR) auction under LAF on October 31, 2024

Source: Reserve Bank of India

On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on October 31, 2024, Thursday, as under:

Sl. No.	Notified Amount (₹ crore)	Tenor (day)	Window Timing	Date of Reversal
1	1,75,000	14	10:30 AM to 11:00 AM	November 14, 2024 (Thursday)

2. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same.

Ajit Prasad
Deputy General Manager
(Communications)

Press Release: 2024-2025/1403

MIL OSI Economics –

January 25, 2025

MIL-OSI USA: Disaster Recovery Center Opening in McCormick County

Source: US Federal Emergency Management Agency

Headline: Disaster Recovery Center Opening in McCormick County

Disaster Recovery Center Opening in McCormick County

COLUMBIA, S.C. – A Disaster Recovery Center will open in McCormick County to provide in-person assistance to South Carolinians affected by Hurricane Helene. McCormick CountyMcCormick County Library 201 Railroad Ave. McCormick, SC 29835Open Oct. 30 – Nov. 5, 8 a.m.- 7 p.m. Additional Disaster Recovery Centers are scheduled to open in other South Carolina counties. Click here to find centers that are already open in South Carolina. You can visit any open center to meet with representatives of FEMA, the state of South Carolina and the U.S. Small Business Administration. No appointment is needed. To find all other center locations, including those in other states, go to fema.gov/drc or text “DRC” and a Zip Code to 43362. Homeowners and renters in Abbeville, Aiken, Allendale, Anderson, Bamberg, Barnwell, Beaufort, Cherokee, Chester, Edgefield, Fairfield, Greenville, Greenwood, Hampton, Jasper, Kershaw, Laurens, Lexington, McCormick, Newberry, Oconee, Orangeburg, Pickens, Richland, Saluda, Spartanburg, Union and York counties and the Catawba Indian Nation can apply for federal assistance.The quickest way to apply is to go online to DisasterAssistance.gov. You can also apply using the FEMA App for mobile devices or calling toll-free 800-621-3362. The telephone line is open every day and help is available in many languages. If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA your number for that service. For a video with American Sign Language, voiceover and open captions about how to apply for FEMA assistance, select this link.FEMA programs are accessible to survivors with disabilities and others with access and functional needs.
gerard.hammink
Wed, 10/30/2024 – 14:08

MIL OSI USA News –

January 25, 2025

MIL-OSI USA: Rep. Banks Introduces End Executive Branch Amnesty Act to Reform TPS and CHNV

Source: United States House of Representatives – Congressman Jim Banks (IN-03)

Today, Rep. Jim Banks (IN-03) introduced the End Executive Branch Amnesty Act, extensive immigration legislation to secure our border by stopping the Biden-Harris administration’s abuse of Temporary Protected Status and the CHNV Parole Program, limiting the use of immigration parole, banning the use of the CBP One application as a form of identification, and reforming treatment of unaccompanied minors. Read the bill text HERE and a one pager HERE.

Said Rep. Banks: “Small towns across our nation like Logansport, Indiana, are bearing the brunt of the Biden-Harris White House’s reckless open border policies. It’s time for Congress to secure our border once and for all.”

“The Biden-Harris administration has abused the laws on the books to grant millions of non-citizens legal status. Republicans must restore our immigration system to Congress’s original intent and ensure parole is only used as a last-ditch humanitarian measure to help foreign nationals in times of catastrophe. Over the past three years, millions of foreigners have made the dangerous and illegal journey across our southern border because of the Biden-Harris administration’s promise of future amnesty. Democrats broke our immigration system, and my bill would help fix it by ending mass parole and other magnets drawing people here illegally.”

Background:

Logansport, Indiana, a small town of just 18,000 residents, has recently been overwhelmed by an influx of an estimated 5,000 Haitian migrants in just two years. Logansport resident Candice Espinoza told Fox News that, “We don’t have space for everybody, so the housing has been taken over and our schools have been taken over; pretty much the whole town has been taken over.”

The Biden-Harris administration has granted parole to over 2.1 million foreigners since October 2021.

Currently over 850,000 foreign migrants from sixteen different nations are protected from deportation and authorized to work in the U.S. through Temporary Protected Status.

The Biden-Harris administration’s Cuba, Haiti, Nicaragua, and Venezuela Parole Program (CHNV), which was never authorized by Congress, has flown over 520,000 foreign nationals into America since January 2024. An internal report by USCIS found rampant fraud in the CHNV Parole Program. As a result, the CHNV Parole Program was paused in July 2024, before the Biden-Harris administration restarted it several weeks later.

In 2023, the Biden-Harris administration began allowing illegal aliens to use the CBP One mobile app to submit identification and schedule appointments at ports of entries to be processed and then released into the U.S. A DHS OIG report from September 2024 found widespread fraud on the application.

The Biden-Harris administration has lost track of 325,000 unaccompanied migrant children.

MIL OSI USA News –

January 25, 2025

MIL-OSI United Kingdom: UKHSA detects first case of Clade Ib mpox

Source: United Kingdom – Government Statements

The UK Health Security Agency (UKHSA) has detected a single confirmed human case of Clade Ib mpox.

The UK Health Security Agency (UKHSA) has detected a single confirmed human case of Clade Ib mpox. The risk to the UK population remains low.

This is the first detection of this Clade of mpox in the UK. It is different from mpox Clade II that has been circulating at low levels in the UK since 2022, primarily among gay, bisexual and other men-who-have-sex-with-men (GBMSM).

UKHSA, the NHS and partner organisations have well tested capabilities to detect, contain and treat novel infectious diseases, and while this is the first confirmed case of mpox Clade Ib in the UK, there has been extensive planning underway to ensure healthcare professionals are equipped and prepared to respond to any confirmed cases.

The case was detected in London and the individual has been transferred to the Royal Free Hospital High Consequence Infectious Diseases unit. They had recently travelled to countries in Africa that are seeing community cases of Clade Ib mpox. The UKHSA and NHS will not be disclosing any further details about the individual.

Close contacts of the case are being followed up by UKHSA and partner organisations. Any contacts will be offered testing and vaccination as needed and advised on any necessary further care if they have symptoms or test positive.

UKHSA is working closely with the NHS and academic partners to determine the characteristics of the pathogen and further assess the risk to human health. While the existing evidence suggests mpox Clade Ib causes more severe disease than Clade II, we will continue to monitor and learn more about the severity, transmission and control measures. We will initially manage Clade Ib as a high consequence infectious disease (HCID) whilst we are learning more about the virus.

Professor Susan Hopkins, Chief Medical Adviser at UKHSA, said:

It is thanks to our surveillance that we have been able to detect this virus. This is the first time we have detected this Clade of mpox in the UK, though other cases have been confirmed abroad.

The risk to the UK population remains low, and we are working rapidly to trace close contacts and reduce the risk of any potential spread. In accordance with established protocols, investigations are underway to learn how the individual acquired the infection and to assess whether there are any further associated cases.

Health and Social Care Secretary Wes Streeting, said:

I am extremely grateful to the healthcare professionals who are carrying out incredible work to support and care for the patient affected.

The overall risk to the UK population currently remains low and the government is working alongside UKHSA and the NHS to protect the public and prevent transmission.

This includes securing vaccines and equipping healthcare professionals with the guidance and tools they need to respond to cases safely.

We are also working with our international partners to support affected countries to prevent further outbreaks.

Steve Russell, NHS national director for vaccination and screening, said:

The NHS is fully prepared to respond to the first confirmed case of this clade of mpox.

Since mpox first became present in England, local services have pulled out all the stops to vaccinate those eligible, with tens of thousands in priority groups having already come forward to get protected, and while the risk of catching mpox in the UK remains low, if required the NHS has plans in place to expand the roll out of vaccines quickly in line with supply.

Clade Ib mpox has been widely circulating in the Democratic Republic of Congo (DRC) in recent months and there have been cases reported in Burundi, Rwanda, Uganda, Kenya, Sweden, India and Germany.

Clade Ib mpox was detected by UKHSA using polymerase chain reaction (PCR) testing.

Common symptoms of mpox include a skin rash or pus-filled lesions which can last 2 to 4 weeks. It can also cause fever, headaches, muscle aches, back pain, low energy and swollen lymph nodes.

The infection can be passed on through close person-to-person contact with someone who has the infection or with infected animals and through contact with contaminated materials. Anyone with symptoms should continue to avoid contact with other people while symptoms persist.

The UK has an existing stock of mpox vaccines and last month announced further vaccines are being procured to support a routine immunisation programme to provide additional resilience in the UK. This is in line with more recent independent JCVI advice.

Working alongside international partners, UKHSA has been monitoring Clade Ib mpox closely since the outbreak in DRC first emerged, publishing regular risk assessment updates.

The wider risk to the UK population remains low.

UKHSA has published its first technical briefing on clade I mpox which provides further information on the current situation and UK preparedness and response.

Published 30 October 2024

MIL OSI United Kingdom –

January 25, 2025

MIL-OSI Russia: The Secret of Creativity: What is Needed for Industry Development

Translation. Region: Russian Federation –

Source: State University Higher School of Economics – State University Higher School of Economics –

On the first day of the conference, four thematic sessions were held. The first was dedicated to creative cities. “This is a complex topic, and now in Russia it is very acute, very relevant, popular. In 2020, this was completely different, four years have changed everything. Our measurements show that creative industries are incredibly unevenly distributed across regions and cities and are concentrated in certain places. That is, they are very selective. This is very important knowledge, and of course, I want to understand what kind of cities and spaces are that attract the creative industry, and what their secret is,” shared the session moderator, Director Center “Russian Cluster Observatory” Evgeny Kutsenko, Institute for Statistical Studies and Economics of Knowledge, National Research University Higher School of Economics.

Head of Department “Creative Industries Research Laboratory” Victoria Boos, Institute for Statistical Studies and Economics of Knowledge, National Research University Higher School of Economics, presented Rating of innovative attractiveness of world citieswith an analysis of the distribution of creative industries around the world.

“The key feature of our rating is that it provides an information base for making management decisions in the field of urban management. Another feature is a truly unique system of indicators: we do not use municipal statistics, we do not use expert assessments, we use data from independent platforms that aggregate information about the best representatives of creative industries, that is, about the leaders of creative industries,” she said.

The study included eight industries that together account for about 90% of the income of the entire creative sector in the world. These are cinema and animation, computer games, music, fashion, advertising and PR, architecture, industrial design and art, which includes literature, performing arts and contemporary art.

The top 5 cities with the highest concentration of creative industry leaders include London, New York, Tokyo, Los Angeles and Paris. “If we look at this rating, we will see that in the top twenty there is parity between the East and the West, and in the top thirty there are more Western cities. Accordingly, we can say that the East is declaring itself as a full-fledged participant in the creative industries market,” Victoria Boos noted.

At the same time, the study showed that the top five cities are distinguished by a very large gap from all other cities. “You shouldn’t think that mega-creative cities only do what they do, pull creative leaders away from other settlements. The fact is that these mega-creative cities develop themselves and create creative leaders themselves,” the speaker emphasized.

The researchers also noted that over the past two years, the proportion between developed countries and the Global South in terms of the number of creative industry representatives has changed. Today, every tenth artist who has released the most downloaded music tracks is a representative of Latin America, while 150 of the most popular fashion brands, designers, and architectural firms are concentrated in the countries of North Africa and West Asia.

Creative industries are also developing in small towns – they have their own special style of creativity. It turned out that in some industries, more than 5% of stars are concentrated in cities with a population of less than 250 thousand people.

Over the past year, many cities have shown impressive dynamics, the speaker noted. For example, Dubai rose from 76th to 38th place, and Tokyo entered the top three. Victoria Boos emphasized that creative support measures are needed to develop creative industries. For example, a special economic zone for creative industries is being developed in Dubai. Similar zones have recently begun to appear and develop in China. In Australia, there are three professional associations in the field of architecture and sustainable construction. In Chile, localized music streaming services are developing. Korea subsidizes cable TV prices. India and Russia are creating film cities.

Also speaking at the session were the Chairperson of the Board of Trustees of the Creative Initiatives and Cultural Heritage Foundation (Kazakhstan) Dina Abdrakhmet, the co-founder and Chairman of the Expert Council of the Agency for Strategic Development “CENTER” Sergey Georgievsky and the Chairman of RuGBC Guy Ims.

The second session was devoted to the management of creative industries in Russia, the third to strategic planning of creative industries and best global practices, and the fourth to education and skills in this area.

On the second day of the session, October 31, the IV International Forum of Young Researchers of the Creative Economy will take place. The authors of scientific papers that have passed the competitive selection will present their reports.

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

MIL OSI Russia News –

January 25, 2025

Category: India

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Minister of State Sh. Kirti Vardhan Singh Highlights India’s Commitment to Global Biodiversity Conservation at COP16 in Colombia

India Advocates for Global Conservation with ‘Plant4Mother’ Campaign at COP16 in Colombia

Second train with 840 metric tonnes of onion arrives in Delhi

Onions to be released in Azadpur Mandi to augment availability, part stock to retail for Rs 35 per kg

World Stroke Day 2024 celebrated by organizing Nation-wide programmes at National Institutes and Regional Centres under DEPwD

Objective – Raise Awareness on Stroke and reduce restorant Disability and Mortality Rates

India’s ‘Ek Ped Maa Ke Naam’ Campaign gains Global Momentum with Plantation Drive in Colombia

Minister of State Shri Kirti Vardhan Singh leads Plantation Drive in Colombia to promote ‘#Plant4Mother’ Initiative