YES Bank Shares Dip 3% Post Q3 Results, ICICI Securities Raises Target Price

• YES Bank shares fell 3% to Rs 22.73 on January 19 after its December quarter results, despite a 55% year-on-year net profit jump to Rs 951.6 crore.
• Net Interest Income (NII) grew 11% to Rs 2,465.6 crore, and Net Interest Margin (NIM) improved from 2.4% to 2.6%.
• ICICI Securities maintained a 'HOLD' rating, calling Q3 a "healthy quarter," and raised the target price from Rs 22 to Rs 24.
• The bank's profit was boosted by negligible credit costs, improved slippages, and Rs 550 crore provision reversals from SR redemptions.
• Asset quality improved with slippages at an eight-quarter low of 1.6%, and Return on Assets (RoA) reached a multi-quarter high of 0.9%.

Why It Matters: Despite a share price dip post-Q3 results, YES Bank reported strong profit growth and improved asset quality, leading ICICI Securities to raise its target price.