Brands
Caller of the Wild: Truecaller Rings in Record Growth with 15m New Users
MUMBAI: Truecaller has dialled into another stellar quarter and this time, it’s all about strong signals and even stronger numbers. The Swedish platform, best known for helping users identify who’s calling and block the rest, has reported a 21 per cent surge in net sales (in constant currencies) for Q2 2025, clocking in at SEK 496.4 million which is around 47 million dollars.
Even in Swedish Krona, which saw a sharp rally, growth was a healthy 9 per cent. The company’s EBITDA margin (excluding incentive costs) rose to a punchy 42.6 per cent, with absolute EBITDA at SEK 211.6 million up 20 per cent year-on-year.
More than just the money, the momentum was visible in user growth: Truecaller added 15 million monthly active users this quarter alone, pushing its non-iOS MAUs to 426.6 million. That’s a 55.3 million jump from Q2 2024, a clear sign that spam isn’t winning.
Subscriptions were on a tear too, with paying users now crossing the 3 million mark including 1 million on iOS. Subscription revenues shot up by 48 per cent in constant currency, while Truecaller for Business climbed 53 per cent. Advertising revenue, despite currency drag, held steady with 11 per cent growth in constant terms.
To boost its ads play, the company launched the Truecaller Masthead and Truecaller Play, expanding its video and display offerings. It also introduced an in-house AI recommendation engine, tested with Uber and Bajaj Auto, which showed promising upticks in click-throughs and conversions.
India, its biggest market, recorded a 5 per cent growth in Q2 net sales. But the Middle East and Africa (MEA) stole the spotlight with a 23 per cent jump, followed by an 18 per cent rise in the rest of the world.
Still, it wasn’t all sunshine profit after tax dipped to SEK 118 million (from 123 million), thanks in part to the strong Krona. Yet Truecaller CEO Rishit Jhunjhunwala remains upbeat: “We’re solving everyday communication problems and building long-term value. The future looks bright and spam-free.”
With AI-fuelled growth, a booming subscriber base and a sharp eye on regional expansion, Truecaller’s trajectory might just be the one call everyone wants to answer.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
