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London, Feb 13: EQONIC Group, the pioneering UK battery technology company developing lithium-free, sodium-free and rare-earth-free battery technology, today announced two significant senior leadership appointments that will strengthen its executive capabilities and governance as it scales up its operations and advance its breakthrough battery technology toward market readiness.

  John Saunders joins as an Executive Director, bringing 30 years of senior leadership across banking, regulation and law. His experience spans acquisitions, new product launches, and leading high-profile business teams, with a strong track record advising boards and senior management. His career includes senior roles at leading institutions including Coutts, Barclays, UBS and Deutsche Bank.

 Angela Knight CBE joins as Non-Executive Director adding significant governance experience and strategic insight to the board. She currently serves on boards spanning high-profile companies, financial services, and listed businesses. Her distinguished career includes serving as Chief Executive of the British Bankers’ Association, Chief Executive of Energy UK, and holding board positions at Taylor Wimpey, Tullett Prebon, Brewin Dolphin, and Arbuthnot Banking Group. She also chaired the Office of Tax Simplification and served on the Transport for London board.

 The appointments come as EQONIC continues to develop its next-generation battery technology that addresses the three critical challenges facing battery and energy storage sector: cost, safety, and sustainability. The company’s proprietary battery technology achieves materials cost savings of c70% compared to lithium batteries.

 Unlike conventional battery technologies that rely on lithium and rare-earth materials, EQONIC’s proprietary composite materials are inherently non-flammable, reducing thermal risk that has effected widespread battery adoption. The technology uses abundant materials with no rare-earth-metals, no lithium and no sodium, addressing critical supply chain vulnerabilities while maintaining complete recyclability.

 John Saunders, Executive Director at EQONIC Group said

 “EQONIC’s breakthrough technology represents a genuine paradigm shift in the battery sector. The combination of cost reduction, enhanced safety, and sustainable materials addresses the fundamental barriers that have constrained the industry. I’m excited to bring my experience to support the company’s growth trajectory as we move toward demonstrating market-ready products and securing strategic partnerships.”

 Angela Knight CBE, Non-Executive Director at EQONIC Group said:

 “EQONIC exemplifies the kind of innovative British technology that can lead global markets. The company’s approach – developing transformative technology first, then building robust commercial frameworks around it, is hugely compelling. Strong governance will be critical as EQONIC scales its business model and establishes partnerships with established OEM’s. I look forward to contributing to the board’s strategic oversight during this pivotal phase.”

 EQONIC’s accelerated R&D roadmap positions the technology to surpass sodium battery performance by 2026, exceed LFP performance by 2027, and achieve industry-leading NMC levels by 2029. The company plans to license its technology and secure collaborations with established OEM’s, reducing substantial capital risk while enabling global deployment across diverse applications and markets.

 Alongside developing its breakthrough technology, EQONIC has established a robust commercial division serving clients across multiple sectors. Demand for the company’s current range of LFP based energy storage systems has resulted in deployment across numerous projects with high-profile clients and a multi-million-pound pipeline.

 Jas Kandola, Founder and CEO of EQONIC Group, said:

 “John and Angela bring exactly the calibre of leadership we need at this critical juncture. John’s regulatory expertise and commercial acumen will be invaluable as we navigate partnerships and licensing arrangements, while Angela’s governance experience across complex, regulated industries will strengthen our board oversight. These appointments reflect our commitment to building a world-class organisation capable of delivering on the enormous potential of our technology.”

 Jas Kandola is an award-winning corporate finance professional turned sustainability entrepreneur, having spent most of his career at Barclays specialising in strategic advice to large corporate and complex markets clients.

 EQONIC’s strategic advisory board already includes Craig Wilson MBE, Non-Executive Director, who brings automotive engineering expertise from Williams Advanced Engineering, Toyota Australia, and TWR Group (Tom Walkinshaw Racing). It also includes Stuart Dyble, Non-Executive Director, with four decades of senior leadership including roles as Ford VP of European Communications and board positions at Aston Martin, Jaguar Land Rover, and Volvo.

 

Mumbai, Feb 13: Arihant Academy Limited, a leader in the education and training industry, today announced its unaudited consolidated financial results for the quarter and nine months ending December 31, 2025. The company reported a robust performance, with significant growth in both revenue and profit.

For the quarter ended December 31, 2025, the company achieved a total revenue of ₹14.54 Cr., a rise by 43% as compared to Rs. 10.14 Cr. for the same period last year. The Profit After Tax (PAT) for the quarter stood at Rs. 1.81 Cr., registering an increase of 60% as against Rs. 1.13 Cr. in Q3FY25, thereby reflecting strong financial performance driven by solid revenue and effective cost management.

For the nine-month period ended December 31, 2025, Arihant Academy reported a total revenue of Rs. 48.75 Cr., a rise of 50% as compared to Rs. 32.56 Cr. last year. The Profit After Tax (PAT) for the nine months period stood at Rs. 5.70 Cr., an increase of 65% as compared Rs. 3.45 Cr. posted in the same quarter of the previous year. This underscores the company’s continued growth and operational efficiency .

Commenting on the results, Mr. Anil Kapasi, Co-Founder & Managing Director of Arihant Academy, said,

“We are pleased to report a strong performance for the quarter and nine months ended December 31, 2025. Our results reflect the consistent execution of our academic and expansion strategy. Compared to Q3 FY25, the Company has delivered an overall income growth of 43%, demonstrating both scale and sustainability in our operations.

Over the period, Arihant Academy has scaled up significantly. We expanded our footprint by opening 7 new centres (4 in Mumbai & 3 in Rajasthan), strengthening our presence across key micro-markets. Our student base increased by approximately 3,500 students’ year-on-year, which translated into a significant rise in academic capacity. This expansion was supported by disciplined cost management and operational efficiency, resulting in healthy margin performance and strong Profit After Tax growth.

Our performance this quarter reinforces the strength of our hybrid academic model, our brand credibility, and the trust placed in us by students and parents. As we move into the next phase of growth, we remain focused on scalable expansion, academic excellence, and delivering sustained value to all stakeholders.”

Arihant Academy: Arihant Academy Limited is one of Mumbai’s most trusted and established coaching institutions, delivering structured academic excellence for over 27 years. Catering to students from Class 8 to 10 (State Board, ICSE, and CBSE) and offering specialised programs for Class 11 & 12 (Science and Commerce streams), the academy provides a strong academic foundation aligned with board and competitive requirements. The institution offers comprehensive preparation for national and state-level competitive examinations including JEE (Main & Advanced), NEET, MHT-CET, CA, and CS, along with its industry-oriented FinTech Analytics Program conducted in collaboration with NSE Academy. With a robust network of 40+ strategically located centres, a thriving community of 12,000+ students, and a legacy built on result-driven methodologies, Arihant Academy Limited delivers an integrated learning experience. Its structured hybrid model seamlessly blends classroom teaching with academic support tools and performance tracking systems, ensuring consistent progress, clarity of concepts, and measurable outcomes for every student.

New Delhi, Feb 13: Eris Lifesciences Limited a leading Indian branded formulations manufacturing company, today announced its earnings for the quarter and nine months ended December 31, 2025.

Q3 and 9M FY2026 Key Financial Highlights:

· The DBF business reported revenue growth of 10% YoY in Q3 FY26 and 9M FY26

· Consolidated Revenue grew 11% YoY during Q3 and 8.4% YoY 9M FY26

· Consol EBITDA was Rs. 282 Cr in Q3, margin of 34.9% and Rs. 847 Cr with a margin of 35.7% during 9M FY26

· Adjusted PAT was Rs. 120 Cr in Q3 FY26, a PAT margin of 14.9%. For 9M FY26, Adj PAT was Rs. 380 Cr, with a 16.0% margin

· Net debt as of December 30, 2025, stood at Rs. 2,270 Cr

Commenting on the results, Mr. Amit Bakshi, Chairman & Managing Director of Eris Lifesciences Ltd, said,

“I am pleased to share that, as per our expectation, we have reached a 25% share in the RHI cartridges market in Dec-25. Eris now services one in every four Indian patients on RHI cartridges. We are well on track to achieve a dominant position in the overall Insulins market including Glargine and several analogues. We are gearing up for our GLP-1 launch in due course and are also launching Esaxerenone, a potential game changer in hypertension management, thereby strengthening our cardiovascular franchise.”

Krishnakumar Vaidyanathan, Executive Director & Chief Operating Officer added,

“Our core Domestic Branded Formulations business is tracking to deliver a 12% revenue growth in FY26 with a 37% EBIDTA margin. Our capital investments in Injectables, Insulins, MABs and GLP-1 in-sourcing continue in line with our guidance. We have strong visibility on FY27 shaping up as a breakout year for our international business with significant contribution expected from our CDMO clients in regulated markets.”

Abu Dhabi, UAE – Feb 13: AD Ports Group (ADX: ADPORTS), a leading global enabler of integrated trade, industry, and logistics solutions, today announced its preliminary unaudited financial results for the fourth quarter and full year ending 31^st December 2025. The Group delivered record revenue and net profit for the full year 2025 and also turned Free Cash Flow (FCF) positive for the year, a first since its 2022 public listing.

Operationally, the strong growth was driven by container terminals throughput, both domestically and internationally, the addition of 3.3 km² of net new industrial land leases in Khalifa Economic Zones – Abu Dhabi (KEZAD) with resulting continued strong demand for warehouses, staff accommodation, and gas provision; strong activity across all maritime businesses – Shipping, Offshore & Subsea, Marine Services, and Drydocking & Shipbuilding – and the launch of the Ro-Ro shipping JV, UGR.

In 2025, AD Ports Group continued executing its disciplined internationalisation strategy launched in 2022, consolidating presence in its existing markets as a corridor-focused global trade enabler. The focus remained on the Middle East, Central Asia, Pakistan, Egypt, Sub-Saharan Africa, and the Mediterranean region, where the Group continued to build operational scale and long-term partnerships. Emphasis was placed on operational stabilisation, developing customer relationships, efficiency gains, service quality, and improving the performance of recently acquired or developed assets.

Against a challenging and complex global geopolitical and macro backdrop, AD Ports Group’s diversified business model, focused strategy, and operational flexibility have proven to be effective, turning risks into differentiated opportunities. Operational progress continued to interconnect the Group’s 34 port terminals in 2025 with associated maritime and logistics services, increasing synergies and enhancing asset utilisation.

The results of that strategy are clear and visible – AD Ports Group increased its customer base by almost 20% in 2025 whilst spending by its top 10 customers increased by 40%, a testament to its synergistic vertically integrated model, and its widening service offering, and geographic expansion, which are all bearing fruit.

The UAE macroeconomic context, and more specifically the signing and implementation of an increasing number of Comprehensive Economic Partnership Agreements (CEPAs), has also been supportive. Since 2022, 29 CEPAs have been signed with 14 implemented by the end of 2025. According to the Central Bank of the UAE, the country recorded GDP growth of approximately 5% in 2025, driven by non-oil expansion in trade, logistics, manufacturing and services. Additionally, UAE non-oil foreign trade exceeded USD 1 trillion (AED 3.8 trillion) in 2025, a 26% increase over 2024, achieving targets five years ahead of schedule and demonstrating the accelerating momentum of the country’s economic diversification strategy. This supportive macro environment in the UAE is largely expected to continue in 2026.

In container shipping, despite a challenging, complex, and volatile environment in 2025, AD Ports Group’s container feeder shipping business showed strong resilience with 38% volume growth and a mere 7% softening in rates on average. Overall, shipping freight rates remain elevated by historical standards, whilst charter rates have strengthened further amidst tight vessel availability. Despite difficult market conditions in 2025, asset-owner AD Ports Group managed to deliver strong results in its container feeder shipping business by proactively managing its service network, leveraging strong demand for services in its key regions of focus – GCC-India, Intra-Asia, Asia-Europe, Asia- Middle East and Asia-Africa, and expanding its relationship with global shippers and complementing their global network with feeder services in the Red Sea and West Africa.

Trade flows continue to be shaped by geopolitical tensions, heightened trade policy uncertainty, and persistent disruption in the Red Sea and through the Suez Canal. Red Sea rerouting remained a defining feature in 2025 and whilst some volumes through the Suez Canal resumed sporadically since the end of last year, the majority of mainliner operators have continued to divert around the Cape of Good Hope. Looking ahead, 2026 is also expected to continue to be a year tempered by volatility, with market outcomes shaped by the trajectory of Red Sea disruptions, the evolution of trade policy, and the industry’s ability to absorb new capacity without eroding rate discipline.

In 2026, Ports and Economic Cities & Free Zones will remain the backbone of the Group’s infrastructure-led growth strategy whilst Maritime & Shipping and Logistics will continue to build scale to connect and support the infrastructure assets and offer customers a one-stop shop with end-to-end solutions. 

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO – AD Ports Group, said:

“2025 was another year of record financial performance for AD Ports Group, underpinned by disciplined execution, operational scale-up, and the continued maturation of our integrated business model. Since our listing in 2022, we have consistently translated growth in volumes, assets, and geographic reach into stronger earnings, cash generation, and capital efficiency. During the year, we strengthened our core infrastructure platforms, advanced our corridor-focused international strategy, and, for the first time since listing, generated positive free cash flow for the full year ahead of guidance, which is a key benchmark of our financial development as an integrated global trade, transport, logistics, and industrial development business. As we enter 2026, the Group is well positioned, under the guidance of our wise leadership, to navigate ongoing market volatility and support the UAE’s economic diversification agenda whilst continuing to innovate unique, end-to-end solutions for our customers, and delivering sustainable, long-term value for our shareholders.”

Operational and Financial Performance

In 2025, AD Ports Group’s underlying operational performance was strong across the Ports, Economic Cities & Free Zones, and Maritime & Shipping Clusters. The Group simplified and streamlined its corporate structure by transforming its Digital Cluster to a federated model in order to better support its growth strategy, efficiency and performance, particularly accelerating AI initiatives and deployment of Agentic AI across its core operations. The vertically integrated and synergistic model is now structured around four Clusters – Ports, Economic Cities & Free Zones (EC&FZ), Maritime & Shipping, and Logistics – with digital services better aligned with business requirements, strengthening the Group’s ability to serve external customers and swiftly adapt to fast-changing market conditions.

In Ports, total container throughput soared 23% YoY to 7.7 million TEUs for the full year, whilst general cargo volumes increased 7% YoY to almost 60 million tons. CMA Terminals Khalifa Port, which started commercial operations at the beginning of 2025, handled over 1.3 million TEUs during the year, implying an impressive utilisation of 74% in its first year of operations.

In Economic Cities & Free Zones, another 900,000 m² of new land leases (net) were signed in Q4 2025, bringing the total land leases signed during the year to 3.3 km². A defining development in 2025 was KEZAD Group’s first land sale transaction in Abu Dhabi with Mira Developments, covering 4.6 km², for AED 2.47 billion. This marked a deliberate evolution of the cluster’s business model, introducing a sale-and-lease development framework alongside traditional long-term leasing. The Group has earmarked an initial 16 km² of KEZAD land for sale, positioning land disposals as another value driver going forward. KEZAD Group also actively started managing its built-assets portfolio to enhance capital efficiency and value creation with the sale of two stabilised, tenanted warehouses – Emtelle and Noon facilities – in November 2025 to Abu Dhabi developer Aldar Properties for AED 570 million. Utilisation in the staff accommodation business, Sdeira Group, continued to improve rapidly, ending the year at 94% vs. 67% in 2024, and 85% in Q3 2025.

In Maritime & Shipping, container feeder shipping volumes rose 38% YoY to 3.35 million TEUs in 2025, driven by increased services and capacity, whilst the bulk, multipurpose, and Ro-Ro shipping vessel fleet reached 60, up from 28 at the end of 2024, mainly on capacity expansion for UGR, which added 11 vessels last year. The marine services vessel fleet expanded as well, to 81 vessels in 2025, up from 66 in 2024.

In Logistics, the year was characterised by a challenging global freight environment, rising operational costs, and one-time commercial settlement obligations. At the same time, 2025 was a pivotal transition year during which the Logistics Cluster put in place a new global senior management team with deep industry expertise. The new leadership initiated a comprehensive transformation programme aimed at reshaping the operating model into a product-led, standardised, and technology-enabled global logistics platform to reposition the Cluster for sustainable growth and profitability.

On the Balance Sheet front, AD Ports Group’s capital structure was relatively stable with a Net Debt of AED 20.6 billion (vs. AED 18.6 billion in 2024) and a Net Leverage of 4.1x (stable vs. 2024).

Cash Flows from Operations increased sharply to AED 5.05 billion in 2025, +28% YoY, on steady growth in operating profit from core operations as well as asset monetisation transactions, implying an adjusted Cash Conversion Ratio of over 80%. Despite an increase in annual organic CapEx to AED 5.5 billion, the Group turned Free Cash Flow to the Firm (FCFF) positive for the first time since its listing in 2022, ahead of its guidance set for 2026.

In 2025, AD Ports Group revamped its ESG strategy and is now focused on accelerating decarbonisation plans through ISSB‑ and TCFD‑aligned governance, scaling low‑emission assets, and delivering measurable environmental and social outcomes while sustaining resilient, long‑term value creation in a rapidly evolving and volatile global context. The Double Materiality Assessment conducted in 2025 identified 12 priorities for AD Ports Group’s key stakeholders and for each material topic the Group has established clear, time‑bound targets that define the outcomes it is committed to achieving. For example, for greenhouse gas emissions, it aims to reduce group-level scope 1, 2, and 3 emissions by 22% by 2034 (from the 2024 baseline).

 

Q4 & FY 2025 Financial KPIs

1)    EBITDA is calculated by taking net profit and adding depreciation and amortization, finance costs, income tax expense, impairment of investment properties and subtracting government grants, fair value gain on pre-existing interest in a joint venture and finance income.

2)   Based on the weighted average number of shares for the period.

 

Key Developments in Q4 2025

 

Group

• Sold 9.77% stake in NMDC to Alpha Dhabi Holding for AED 1.6 billion.

 

Ports Cluster

• Signed agreements with Nimex Terminals to establish LNG and LPG terminals hubs at Khalifa Port in a deal valued at over AED 30 billion.
• Concluded third partnership with CMA CGM Group with the acquisition of a 20% stake in the Latakia International Container Terminal (LICT) in Syria for AED 81 million.
• Signed agreement with CMA CGM Group to expand its container terminal capacity at Khalifa Port to 2.7 million TEUs less than a year after the terminal started operations.
• Acquired the 19.328% stake held by the Saudi Egyptian Investment Company (SEIC), a PIF company, in Alexandria Container & Cargo Handling Co. (ALCN), one of Egypt’s largest container terminal operators, for EGP 13.2 billion.
• Announced intention to launch a cash Mandatory Tender Offer (MTO) to acquire an additional stake in Egypt’s ALCN, which would give AD Ports Group majority ownership and control.
• Karachi Gateway Terminal Multipurpose Limited (KGTML), part of Noatum Ports, the international ports operating arm of AD Ports Group, and Louis Dreyfus Company Pakistan, a subsidiary of leading global merchant and agricultural goods processor Louis Dreyfus Company (LDC), signed a long-term commercial agreement to develop and operate a modern clean bulk handling and storage facility for agricultural goods at Karachi Port.

Economic Cities & Free Zones Cluster

• Signed an AED 2.47 billion land sale agreement with Mira Developments for a 4.6 km² plot located within the 16 km² KEZAD Town Centre.
• Signed a 50-year land lease with China Southern Glass (CSG) for a 95,000 m² plot within ICAD 1, Mussafah, with an investment value of AED 300 million into a facility of high-performance energy-saving glass.
• Sold two built-to-suit warehouses in KEZAD Abu Dhabi to Aldar Properties for AED 570 million.
• Signed two 50-year land leases with Indian firms Jindal SAW Group and Haldiram Group for a total plot of over 500,000 m² in KEZAD Abu Dhabi with a total investment value of over AED 1 billion into food and metal manufacturing facilities.
• Signed a second 50-year land lease with Azizi Developments for a 440,000 m² plot in KEZAD Abu Dhabi, with an investment value of AED 2 billion , to build 12 factories and associated logistics capabilities.

 

Maritime & Shipping Cluster

• Noatum Maritime and Bapco Upstream signed a five-year agreement for Marine Services at Bahrain LNG Terminal.

Logistics Cluster

• Appointed Jochen Thewes as CEO of the Logistics Cluster. Thewes served as CEO and Management Board Chairman of DB Schenker for nearly a decade.
• Established a 51%-owned JV with AVESTO Group, one of Tajikistan’s largest private industrial conglomerates, to deliver integrated logistics and freight forwarding services across the country.
• Formed a 51%-owned JV with CEI Supply Chain to offer logistics capabilities in Pakistan.

 

Key Developments Post Q4 2025

• Signed an AED 840 million land sale agreement with Danube Properties for a 1.0 km² plot located within the 16 km² KEZAD Town Centre.
• SAFEEN Drydocks, part of Noatum Maritime, acquired 100% ownership of Balenciaga Astilleros Shipyard, one of Spain’s most established and technologically advanced shipbuilding and repair facilities, for a total consideration of EUR 11.2 million.
• Sold KEZAD Logistics Park – KLP Free Zone 3 (FZ3) in Abu Dhabi, a free zone industrial and logistics group of warehouse assets to MAIR Group for AED 295 million.
• Launched the 450,000 m² Metal Park, the world’s first pay-as-you-grow metals ecosystem in Abu Dhabi.
• Signed a 30-year concession agreement with Aqaba Development Corporation to manage and operate the brownfield Aqaba multipurpose port in Jordan.
• Joined Africa Ports Development’s (APD) 30-Year Concession for a New Dry Bulk Terminal in Douala Port – Cameroon, through an effective economic interest of 51%.

Feb 13: Urban Co-operative Banks (UCBs) are strengthening their position in India’s credit ecosystem, supported by steady balance growth, improving asset quality, and rising demand across both retail and small business segments.

Outstanding credit balances of UCBs stood at ₹3.4 lakh crore as of September 2025, representing a 1.9x increase over the last five years, according to Sahakaar Trends, a joint publication by the National Urban Co-operative Finance and Development Corporation (NUCFDC) and TransUnion CIBIL, India’s pioneer information and insights company.

While UCBs continue to hold a modest share of overall industry credit at around 1.8%, the data shows a system that is expanding in scale while adapting to changing borrower profiles, competitive dynamics, and regulatory expectations.

“UCBs are expanding more widely into Bharat, extending formal credit beyond large urban centres to households and small businesses in semi-urban and emerging regions. Their proximity to local communities allows them to serve borrowers where local context and relationships matter, helping bring more of Bharat into the formal credit system. As these banks expand their reach across retail and small-business lending, sustaining credit quality while broadening access will remain central to their role in supporting more balanced and inclusive economic participation,” said Mr. Bhavesh Jain, MD and CEO, TransUnion CIBIL.

“The expanding credit footprint of UCBs reflects strong borrower trust, particularly in semi-urban and emerging regions where access to formal credit remains critical. As these banks scale up, the focus must remain on strengthening institutional capacity, improving operational efficiency, and building resilient governance frameworks. Supporting UCBs through this transition is essential to ensuring that their growth continues to translate into meaningful financial participation and long-term economic stability,” said Shri Prabhat Chaturvedi, CEO, NUCFDC.

UCB Lending Remains Concentrated in Eight Core Products

Commercial loans, housing loans, retail business loans, loan against property, gold loans, personal loans, auto loans and loans against bank deposits dominate UCB balance sheets. As of September 2025, these products together accounted for nearly 83% of UCBs’ total outstanding balances, reflecting a continued emphasis on collateral-backed retail lending and credit to small enterprises.

The average housing loan ticket sizes for UCBs stood at around ₹23 lakh, compared to ₹26 lakh for housing finance companies. For gold loans, the average ticket size is ₹1.3 lakh for UCBs, compared to ₹2.3 lakh for PSU banks. In contrast, average commercial loan ticket sizes for UCBs were approximately ₹50 lakh, higher than ₹37 lakh for Public Sector Banks (PSUs), while personal loan ticket sizes averaged about ₹4.7 lakh, compared to ₹2 lakh for Non-Banking Financial Companies (NBFCs).

Gold Loans Present Growth Opportunity for UCBs

Gold loans account for about 5% of UCBs’ overall credit portfolio. Although they cater to a relatively higher share of below-prime borrowers in this segment compared with PSU banks, credit performance indicators have improved, with the balance-level delinquencies, measured as balances 90 days past due or more, declining steadily in recent periods.

Commercial Loans Account for Largest Share of UCBs’ Portfolio

Commercial loans account for the largest share of the total outstanding balances for UCBs, as of September 2025. Indexed to September 2020 as 100, enquiry-level data shows a sharper rise in commercial loan demand for UCBs by September 2025.

While UCBs recorded a higher conversion rate from enquiry to origination compared with PSU banks during the three months ended June 2025, the pace of disbursement remains slower, with 45% of originations disbursed within 15 days, compared with 61% for PSU banks. UCBs also cater to a higher share of entities with credit exposure exceeding ₹1 crore and also have a higher share of low-risk borrowers at 49% compared to 45% medium-risk borrowers and 6% high-risk borrowers1.

Housing Loan Demand Higher in Metro and Semi-Urban Regions

Housing loans constitute the second largest share of total outstanding balances for UCBs. Demand for housing loans has remained stable with UCBs recording 2x growth in the last five years attracting younger consumers, women, and New-to-Credit borrowers. Additionally, the growth has also been greater in urban and semi-urban regions.

The credit performance for housing loans has improved, with 90+ DPD balance-level delinquencies falling to 2.8% as of September 2025, from 3.2% in September 2024.

Customer Profile of Personal Loan Borrowers Has Improved for UCBs

Personal loan demand at UCBs has strengthened in recent periods. UCBs recorded higher conversion rates for personal loan enquiries at 39%, compared to 22% for NBFCs during the three months ended August 2025, although only 42% of these loans were disbursed within five days, compared with 68% for NBFCs. Additionally, the balance-level delinquencies for personal loans have steadily improved for UCBs and have been consistent for recent periods. The personal loan delinquencies (90+ DPD) declined from about 4.5% in September 2020 to approximately 2.1% by September 2025.

Opportunity Exists for UCBs to Expand Credit Reach

The data also points to a gap in portfolio deepening. As of March 2025, UCBs had approximately 30 lakh live retail borrowers, of which around 1.7 lakh, or about 6%, also had a commercial credit footprint. During April to September 2025, nearly 3,000 such borrowers sourced new commercial loans from PSU banks, with total sanctioned amounts of about ₹724 crore, including approximately ₹442 crore extended to low- and medium-risk borrowers.

Overall, the sustained growth of UCBs reflects a sector that is strengthening its balance sheets while accelerating efforts to modernise its operations and risk frameworks. Backed by improving asset quality, disciplined credit expansion, and rising adoption of technology‑enabled processes, UCBs are increasingly well positioned to serve their core constituencies with greater efficiency and resilience.

“As UCBs continue to balance their community-rooted strengths with data‑led decisioning and regulatory alignment, they are set to play an increasingly meaningful role in supporting inclusive economic growth and deepening formal credit penetration across India’s urban and semi‑urban landscape,” Mr. Jain said.

Feb, 13 : The Indian School of Business (ISB) has announced the DSP Scholarship Programme for students of its Post Graduate Programme in Management for Young Leaders (PGP YL), supported by a multi-year CSR gift from DSP Asset Managers Private Limited (DSPAM). The need-cum merit scholarship will provide 100% tuition fee waivers to recipients over multiple years, beginning with the current academic year.

Under the DSP Scholarship Programme, two PGP YL students from the current class will be supported, followed subsequently by five students each year. This sustained commitment reflects DSPAM’s focus on enabling access to high-quality management education for talented young individuals at an early stage of their academic and professional journeys.

The MoU for this scholarship was exchanged in the presence of Aditi Kothari Desai, Chairperson, DSP Asset Managers Private Limited; Dean Madan Pillutla; Kalpen Parekh, Managing Director & CEO, DSP Mutual Fund; and DNV Kumara Guru, Senior Director – Advancement, Alumni Engagement and External Relations, ISB.

The PGP YL is ISB’s early-entry management programme, designed to nurture high-potential students through a rigorous, globally benchmarked curriculum and immersive learning experiences. By easing financial constraints, the DSP Scholarship Programme will enable recipients to focus fully on their academic development, leadership growth, and long-term aspirations.

Commenting on the initiative, Aditi Kothari Desai, Chairperson, DSP Asset Managers Private Limited, said

“At DSP, we strongly believe that leadership development begins early, and that access to high-quality education should never be limited by financial constraints. Through this multi-year scholarship program with ISB, we are investing in young leaders at a formative stage of their journey, enabling them to focus on learning, self-discovery, and long-term impact. This initiative reflects our commitment to building a strong and inclusive foundation for future leadership in India.”

Adding to this, Ravi Patodi, Head – Human Resources, DSP Asset Managers, said

“The scholarship program with ISB reflects DSP’s long-standing belief that access to quality education can shape long-term outcomes for individuals and for institutions. We see this as an investment in potential at a formative stage of leadership development. Our continued engagement with educational initiatives, including our support for the MVBS Hostel in Dadar which provides boarding and scholarship assistance to college students, stems from the same philosophy enabling talent with continuity, care, and a long-term perspective.”

Welcoming the support from DSPAM, Professor Madan Pillutla, Dean, Indian School of Business, said

The DSP Scholarship Program adds to ISB’s growing portfolio of merit and need-based scholarships for the recently launched PGP YL, reinforcing the School’s commitment to inclusion and access as it prepares the next generation of responsible business leaders.