Srilanka, May 15 -- National Development Bank PLC (NDB) reported a 168 percent year-on-year (YoY) jump in the first quarter net profit to Rs.1.9 billion, supported by lower impairment charges and steady growth in core banking operations.

Total operating income rose 5 percent to Rs.10.6 billion, though net interest income slipped one percent to Rs.8.0 billion, due to a 270-basis-point drop in market interest rates. Net interest margin stood at 3.92 percent.

Net fee and commission income edged down 2 percent to Rs.1.8 billion, as card-related revenues softened, while income from digital and operational services increased. Other income surged to Rs.842.4 million, bolstering the topline growth.

Impairment charges fell 40 percent YoY to Rs...