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BK · Bank of New York Mellon Corp

50 filings

10-Q

BK 10-Q Quarterly Reports

Bank of New York Mellon Corp - 50 quarterly reports

Filing record · 2016–202610-K1110-Q328-K189

BK filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 189 current reports (8-K) between 2016 and 2026.

  1. FY2018 annual report10-K · Feb ’19Feb ’19
  2. Leadership change8-K · Mar ’22Mar ’22
  3. Leadership change8-K · Dec ’25Dec ’25
  1. 2026-Q2

    Bank of New York Mellon Corp Quarterly Report for Q2 Ended Jun 30, 2026

    Bank of New York Mellon Corporation (BK) reported strong financial results for the second quarter of 2026, demonstrating robust growth across its business segments. Total revenue increased by 13% year-over-year, driven by a 15% increase in revenue from its Securities Services segment, a 12% increase from Market and Wealth Services, and an 8% increase from Investment and Wealth Management. Net interest income saw a significant 20% increase, primarily due to higher yields on investment securities and balance sheet growth, although this was partially offset by deposit margin compression. The company also announced a substantial 19% increase in its quarterly cash dividend to $0.63 per share, signaling confidence in its financial health and commitment to returning capital to shareholders. Assets under custody and/or administration (AUC/A) grew by 12% to $62.6 trillion, reflecting higher market values and net client inflows. Assets under management (AUM) increased by 6% to $2.2 trillion, also driven by market appreciation, though partially impacted by net outflows and a stronger US dollar. The company maintained a strong capital position with a CET1 ratio of 11.0% under the Standardized Approach, consistent with the previous quarter. Overall, the results highlight BNY Mellon's continued strength in serving global capital markets, with positive performance across key metrics and a favorable outlook supported by strategic growth initiatives and shareholder return policies.

    Jul 31, 2026
  2. 2026-Q1

    Bank of New York Mellon Corp Quarterly Report for Q1 Ended Mar 31, 2026

    The Bank of New York Mellon Corporation (BK) reported a strong first quarter of 2026, with net income applicable to common shareholders of $1.56 billion, or $2.24 per diluted share, a significant increase from $1.15 billion, or $1.58 per diluted share, in the first quarter of 2025. Excluding notable items, adjusted net income was $1.57 billion, or $2.25 per diluted share, also demonstrating robust year-over-year growth. This performance was driven by a 13% increase in total revenue, primarily due to a 11% rise in fee revenue and an 18% increase in net interest income. Fee revenue benefited from higher client activity, net new business, improved market values, and favorable foreign exchange impacts, while net interest income was boosted by higher yields on reinvested securities and balance sheet growth. The company's key metrics also showed positive momentum. Assets under custody and/or administration (AUC/A) grew by 12% to $59.4 trillion, and assets under management (AUM) increased by 6% to $2.1 trillion. These increases reflect strong client inflows, higher market valuations, and the positive impact of a weaker US dollar. The company also returned $1.4 billion to shareholders through repurchases and dividends, underscoring its commitment to capital return. Despite a slight decrease in CET1 ratio to 11.0% from 11.9% due to higher risk-weighted assets, BNY Mellon maintained its 'well capitalized' status, demonstrating a solid capital and liquidity position.

    May 1, 2026
  3. 2025-Q3

    Bank of New York Mellon Corp Quarterly Report for Q3 Ended Sep 30, 2025

    The Bank of New York Mellon Corporation (BK) reported solid results for the third quarter of 2025, demonstrating continued growth and profitability. Total revenue saw a notable increase of 9% year-over-year, driven by a 7% rise in fee revenue and an 18% surge in net interest income. This growth was fueled by increased client activity, favorable market values, and the reinvestment of maturing securities at higher yields. The company also announced a 13% increase in its quarterly cash dividend, underscoring its commitment to returning capital to shareholders. BNY Mellon's Assets Under Custody/Administration (AUC/A) grew by 11% to $57.8 trillion, highlighting strong client relationships and market growth in its Securities Services segment. While Assets Under Management (AUM) remained flat, this was attributed to a balance between higher market values and net outflows. The company maintained strong capital and liquidity positions, with its CET1 ratio at 11.7%. The positive financial performance, coupled with a shareholder-friendly capital allocation policy, positions BNY Mellon favorably in the current market environment.

    Oct 31, 2025
  4. 2025-Q2

    Bank of New York Mellon Corp Quarterly Report for Q2 Ended Jun 30, 2025

    The Bank of New York Mellon Corporation (BK) reported a strong second quarter of 2025, demonstrating robust revenue growth and improved profitability compared to the prior year. Total revenue increased by 9% year-over-year, driven by a 7% rise in fee revenue and a significant 17% increase in net interest income. This growth was fueled by higher client activity, favorable market values, and the benefit of higher yields on investment securities, partially offset by deposit mix changes. The company also announced a 13% increase in its quarterly cash dividend to $0.53 per share, reflecting confidence in its financial performance and commitment to shareholder returns. Net income applicable to common shareholders rose to $1,391 million ($1.93 per diluted share), up from $1,143 million ($1.52 per diluted share) in the second quarter of 2024. Excluding notable items, adjusted net income was $1,397 million ($1.94 per diluted share). The company's operational efficiency was also evident in its expense management, with non-interest expense increasing by a more modest 4% year-over-year, driven by investments and employee costs, but offset by efficiency savings. Key metrics like Assets Under Custody/Administration (AUC/A) grew by 13% to $55.8 trillion, and Assets Under Management (AUM) increased by 3% to $2.1 trillion, underscoring BNY Mellon's continued market leadership.

    Aug 1, 2025
  5. 2025-Q1

    Bank of New York Mellon Corp Quarterly Report for Q1 Ended Mar 31, 2025

    Bank of New York Mellon Corporation (BK) reported a solid first quarter for 2025, with net income applicable to common shareholders of $1,149 million, or $1.58 per diluted common share. Excluding notable items, adjusted net income was $1,148 million, or $1.58 per diluted common share, demonstrating stable operational performance year-over-year. Total revenue saw a healthy 6% increase, primarily driven by a 3% rise in fee revenue and a significant 11% increase in net interest income, benefiting from higher yields on investment securities. This growth was supported by a 9% increase in assets under custody and/or administration (AUC/A) to $53.1 trillion, although assets under management (AUM) remained flat at $2.0 trillion due to net outflows offsetting market value gains.

    May 2, 2025
  6. 2024-Q3

    Bank of New York Mellon Corp Quarterly Report for Q3 Ended Sep 30, 2024

    The Bank of New York Mellon Corporation (BK) reported solid financial results for the third quarter of 2024, demonstrating resilience and strategic growth. Total revenue increased by 6% year-over-year, driven by a 5% rise in fee revenue, primarily due to higher market values, net new business, and improved foreign exchange revenue. Net interest income also saw a 3% increase, benefiting from improved investment securities portfolio yields and balance sheet growth. BNY Mellon's assets under custody and/or administration (AUC/A) grew by 14% to $52.1 trillion, and assets under management (AUM) increased by 18% to $2.1 trillion, reflecting strong market performance and client inflows. The company also continued its commitment to shareholders, increasing its quarterly cash dividend by 12% and repurchasing $725 million in common shares. Capital ratios remain robust, with a CET1 ratio of 11.9% under the Standardized Approach, well above regulatory minimums. The acquisition of Archer Holdco, LLC, closed on November 1, 2024, further strengthening BNY Mellon's managed account solutions capabilities.

    Nov 1, 2024
  7. 2024-Q2

    Bank of New York Mellon Corp Quarterly Report for Q2 Ended Jun 30, 2024

    The Bank of New York Mellon Corporation (BK) reported solid results for the second quarter of 2024, demonstrating resilience and growth across its key business segments. Total revenue saw a 2% increase year-over-year, driven by a 4% rise in fee revenue, attributed to higher market values, net new business, and increased client activity. Investment services fees, in particular, grew by 5%. Despite a 6% decrease in net interest income, primarily due to balance sheet mix changes, the company managed noninterest expenses effectively, reporting a 1% decrease year-over-year, aided by efficiency savings and reduced FDIC special assessments. This cost management, coupled with revenue growth, resulted in a net income applicable to common shareholders of $1,143 million, or $1.52 per diluted share, up from $1.31 per diluted share in the prior year. The company also announced a 12% increase in its quarterly cash dividend to $0.47 per share, underscoring its commitment to returning capital to shareholders. Furthermore, BNY Mellon maintained strong capital ratios, with a CET1 ratio of 11.4%, well above regulatory minimums.

    Aug 2, 2024
  8. 2024-Q1

    Bank of New York Mellon Corp Quarterly Report for Q1 Ended Mar 31, 2024

    Bank of New York Mellon Corporation (BK) reported its first quarter 2024 results, demonstrating growth in fee and other revenue, driven by higher market values and client activity, while navigating a decrease in net interest income due to balance sheet mix changes, partially offset by higher interest rates. The company's Assets Under Custody/Administration (AUC/A) increased by 5% to $48.8 trillion, and Assets Under Management (AUM) grew by 6% to $2.0 trillion, both primarily attributed to higher market values. BNY Mellon returned $1.3 billion to shareholders through share repurchases and dividends, underscoring a commitment to capital return. The company maintained strong capital ratios, with its CET1 ratio under the Standardized Approach at 10.8%, exceeding regulatory minimums. While noninterest expense saw a slight increase driven by investments and severance, adjusted noninterest expense grew by a more modest 1%, reflecting ongoing efficiency efforts. The provision for credit losses increased, primarily due to reserve increases related to commercial real estate exposure, highlighting a key area of focus for risk management.

    May 3, 2024
  9. 2023-Q3

    Bank of New York Mellon Corp Quarterly Report for Q3 Ended Sep 30, 2023

    The Bank of New York Mellon Corporation (BK) reported its third quarter 2023 results, demonstrating resilience and strategic execution. Total revenue reached $4.4 billion, a 2% increase year-over-year, primarily driven by a 10% rise in net interest revenue, benefiting from higher interest rates. Fee revenue remained flat, reflecting mixed impacts from market values, new business, currency fluctuations, and divestitures. The company managed expenses effectively, with total noninterest expense decreasing by 16% year-over-year, largely due to the prior year's goodwill impairment charge. Excluding notable items, adjusted noninterest expense increased by 3%, reflecting investments in growth and inflation impacts, partially offset by efficiency savings. BNY Mellon also returned capital to shareholders through a 14% increase in its quarterly cash dividend to $0.42 per share and $783 million in total capital returned, including $450 million in share repurchases. The company maintained strong capital and liquidity positions, with its CET1 ratio at 11.4% and a Tier 1 leverage ratio of 6.1%. Assets Under Custody/Administration (AUC/A) grew 8% to $45.7 trillion, and Assets Under Management (AUM) increased 3% to $1.8 trillion, indicating continued client trust and market presence. The results highlight BNY Mellon's ability to navigate a complex economic environment while investing in its business and rewarding shareholders.

    Nov 3, 2023
  10. 2023-Q2

    Bank of New York Mellon Corp Quarterly Report for Q2 Ended Jun 30, 2023

    Bank of New York Mellon (BK) reported solid results for the second quarter of 2023, with net income applicable to common shareholders reaching $1.0 billion, or $1.30 per diluted common share. This represents a notable increase from the $835 million, or $1.03 per diluted common share, reported in the same quarter last year. Total revenue rose by 5% year-over-year to $4.5 billion, primarily driven by a significant 33% increase in net interest revenue, which benefited from higher interest rates, partially offset by changes in balance sheet size and mix. While fee revenue saw a modest 2% decline due to lower foreign exchange revenue and the impact of a divestiture, this was cushioned by the abatement of money market fee waivers and growth in investment services fees. The company also demonstrated a commitment to shareholder returns by increasing its quarterly cash dividend by 14% to $0.42 per share. From a capital perspective, BNY Mellon maintained strong capital ratios, with its CET1 ratio at 11.1% as of June 30, 2023. Assets Under Custody/Administration (AUC/A) grew 9% to $46.9 trillion, indicating robust client activity and higher market values, though Assets Under Management (AUM) slightly decreased by 2% to $1.9 trillion due to lower market values and a divestiture. The strong performance across key segments, particularly Securities Services and Market and Wealth Services, coupled with prudent capital management and a commitment to shareholder returns, paints a positive picture for investors.

    Aug 4, 2023
  11. 2023-Q1

    Bank of New York Mellon Corp Quarterly Report for Q1 Ended Mar 31, 2023

    Bank of New York Mellon Corporation (BK) reported a net income applicable to common shareholders of $905 million, or $1.12 per diluted common share, for the first quarter of 2023. This represents a significant increase compared to $699 million, or $0.86 per diluted common share, in the first quarter of 2022. The company saw a 11% increase in total revenue, reaching $4.4 billion, primarily driven by a substantial 62% rise in net interest revenue, which benefited from higher interest rates on interest-earning assets. Fee revenue remained flat year-over-year, impacted by various factors including the abatement of money market fee waivers and an $88 million reduction related to the accelerated amortization of deferred costs for depositary receipts services. BNY Mellon returned $1.6 billion to common shareholders through repurchases and dividends, signaling a commitment to capital return while maintaining a strong capital position with a CET1 ratio of 11.0% as of March 31, 2023. The company's core Securities Services segment demonstrated robust growth with a 19% increase in total revenue and a 100% increase in income before taxes, largely due to the prior year's Russia-related charge reversal. The Market and Wealth Services segment also showed healthy growth in revenue and income. Conversely, the Investment and Wealth Management segment experienced a decline in both revenue and income, reflecting lower market values, the impact of a stronger U.S. dollar, and the divestiture of Alcentra. Overall, BNY Mellon navigated a dynamic economic environment, benefiting from rising interest rates while managing expenses effectively. Investors will closely watch the impact of recent banking sector events, such as increased deposit balances and potential FDIC assessments, as well as the company's continued efforts to drive growth across its service lines.

    May 5, 2023
  12. 2022-Q3

    Bank of New York Mellon Corp Quarterly Report for Q3 Ended Sep 30, 2022

    BNY Mellon's third quarter 2022 results show a mixed financial performance impacted by a significant goodwill impairment charge. While net interest revenue saw a substantial increase of 44% year-over-year, driven by higher interest rates, total revenue grew by 6% to $4.3 billion. This growth was primarily supported by the Securities Services and Market and Wealth Services segments, which reported revenue increases of 13% and 17% respectively. However, the Investment and Wealth Management segment experienced a 16% revenue decline. The company recorded a $680 million non-cash goodwill impairment charge in its Investment Management reporting unit, leading to a reported net income applicable to common shareholders of $319 million ($0.39 per diluted share). Excluding notable items, adjusted net income was $983 million ($1.21 per diluted share), representing a decrease from the prior year's adjusted net income of $926 million ($1.09 per diluted share). BNY Mellon's Assets Under Custody/Administration (AUC/A) decreased by 7% to $42.2 trillion, primarily due to lower market values and a stronger U.S. dollar, though partially offset by client inflows. Assets Under Management (AUM) also saw a significant decline of 23% to $1.8 trillion, attributed to the same factors. Despite these challenges, the company increased its quarterly cash dividend by 9% to $0.37 per share and maintained strong capital ratios, with a CET1 ratio of 10.0%.

    Nov 7, 2022
  13. 2022-Q2

    Bank of New York Mellon Corp Quarterly Report for Q2 Ended Jun 30, 2022

    BNY Mellon reported a net income applicable to common shareholders of $835 million, or $1.03 per diluted common share, for the second quarter of 2022. This represents a decrease from the $991 million, or $1.13 per diluted common share, reported in the same quarter of the previous year. Total revenue saw a 7% increase, reaching $4.3 billion, primarily driven by a 28% surge in net interest revenue, benefiting from higher interest rates. Fee and other revenue increased by 3%, supported by lower money market fee waivers and higher client activity, though partially offset by the stronger U.S. dollar and lower market values. The company also announced a 9% increase in its quarterly cash dividend to $0.37 per share, demonstrating a commitment to returning capital to shareholders.

    Aug 5, 2022
  14. 2022-Q1

    Bank of New York Mellon Corp Quarterly Report for Q1 Ended Mar 31, 2022

    BNY Mellon's first quarter 2022 report shows a net income applicable to common shareholders of $699 million, or $0.86 per diluted common share, a decrease from $858 million, or $0.97 per diluted common share, in the prior year's first quarter. Total revenue remained flat at $3.9 billion. Fee and other revenue saw a 3% decrease, primarily impacted by accelerated amortization of deferred costs related to Russia sanctions and the Russia-Ukraine war, which is expected to impact annual revenue by $80 million to $100 million. Net interest revenue increased by 7% year-over-year, driven by higher interest rates. Noninterest expense increased by approximately 5.5%, attributed to investments in growth and infrastructure. The company announced a leadership succession, with Todd Gibbons retiring as CEO in August 2022, and Robin Vince appointed as CEO-Elect. Key capital metrics showed a decrease in the CET1 ratio to 10.1% from 11.2% due to unrealized losses on securities available-for-sale and increased risk-weighted assets, partially offset by earnings. The company repurchased $118 million in common shares and paid $278 million in dividends.

    May 6, 2022
  15. 2021-Q3

    Bank of New York Mellon Corp Quarterly Report for Q3 Ended Sep 30, 2021

    The Bank of New York Mellon Corporation (BK) reported solid results for the third quarter of 2021, with net income applicable to common shareholders reaching $881 million, or $1.04 per diluted common share, an increase from $876 million, or $0.98 per diluted common share, in the third quarter of 2020. Total revenue rose by 5% to $4.0 billion, primarily driven by an 8% increase in fee and other revenue, which benefited from higher markets, increased client volumes, and a weaker U.S. dollar. This growth in fee revenue was partially offset by higher money market fee waivers, a common occurrence in the low-interest-rate environment. Investment Services and Investment and Wealth Management segments both showed strong performance. Investment Services revenue increased by 3%, while Income Before Income Taxes in Investment and Wealth Management saw a substantial 42% increase. The company also demonstrated a commitment to returning capital to shareholders, with the Board of Directors approving a $6.0 billion share repurchase program and a 10% increase in the quarterly cash dividend. Capital ratios remained strong, with a CET1 ratio of 11.7% at the end of the quarter, although slightly down from the previous quarter due to capital deployment via repurchases and dividends.

    Nov 5, 2021
  16. 2021-Q2

    Bank of New York Mellon Corp Quarterly Report for Q2 Ended Jun 30, 2021

    The Bank of New York Mellon Corporation (BK) reported solid results for the second quarter of 2021, demonstrating resilience despite a challenging interest rate environment. Total revenue saw a slight decrease of 1%, primarily due to lower net interest revenue, which was impacted by persistently low interest rates. However, this was offset by a 4% increase in fee revenue, driven by stronger market values and favorable foreign exchange impacts. The company's Investment Services segment experienced a 4% revenue decline but saw a 3% increase in income before taxes, while the Investment and Wealth Management segment posted robust growth with a 13% increase in total revenue and a significant 48% rise in income before taxes. The company also returned capital to shareholders through a 10% increase in its quarterly dividend and announced a substantial $6.0 billion share repurchase program, signaling confidence in its financial position and future outlook. BNY Mellon's capital and liquidity positions remained strong, with a CET1 ratio of 12.6% and a Tier 1 leverage ratio of 6.0% at the end of the quarter.

    Aug 5, 2021
  17. 2021-Q1

    Bank of New York Mellon Corp Quarterly Report for Q1 Ended Mar 31, 2021

    The Bank of New York Mellon Corporation (BK) reported a decrease in net income applicable to common shareholders to $858 million ($0.97 per diluted common share) for the first quarter of 2021, down from $944 million ($1.05 per diluted common share) in the prior year's first quarter. This decline was primarily driven by a 5% decrease in total revenue to $3.9 billion, impacted by a 20% drop in net interest revenue due to lower interest rates, which was only partially offset by growth in fee revenue. The company experienced an 5% increase in noninterest expense, mainly due to higher staff, technology, and unfavorable currency impacts. Despite the year-over-year decline in profitability, the company saw robust growth in Assets Under Custody/Administration (AUC/A) which increased by 18% to $41.7 trillion, and Assets Under Management (AUM) which grew by 23% to $2.2 trillion. The Investment and Wealth Management segment demonstrated strong performance with a 10% revenue increase and a 43% rise in income before taxes. The provision for credit losses benefited the quarter with a $83 million release, reflecting an improved macroeconomic forecast. BNY Mellon also continued its capital return program, repurchasing $699 million of its common stock.

    May 6, 2021
  18. 2020-Q3

    Bank of New York Mellon Corp Quarterly Report for Q3 Ended Sep 30, 2020

    Bank of New York Mellon Corporation (BK) reported a decrease in net income applicable to common shareholders to $876 million ($0.98 per diluted share) in Q3 2020, down from $1.0 billion ($1.07 per diluted share) in Q3 2019. This decline was primarily attributed to lower net interest revenue, which was impacted by prevailing low interest rates, partially offset by higher deposit and securities portfolio balances. Total revenue remained relatively flat, decreasing less than 1%, driven by a slight dip in fee revenue due to higher money market fee waivers, though partially offset by increased client activity and stronger market values. The company maintained a strong capital position with a CET1 ratio of 13.0% at September 30, 2020. During the quarter, BNY Mellon continued its focus on technology investments and prudent balance sheet management amidst the ongoing economic uncertainties, including those stemming from the COVID-19 pandemic. The report also highlighted regulatory developments, including the Federal Reserve's announcement of BNY Mellon's stress capital buffer (SCB) requirement at the regulatory minimum of 2.5%, effective October 1, 2020. However, limitations on common stock repurchases and dividend increases remained in place through the fourth quarter of 2020 due to the Federal Reserve's capital plan review. Despite these restrictions, the company paid its regular quarterly dividend of $0.31 per share. Management expressed an intention to resume common stock repurchases as soon as market conditions and regulatory approvals permit.

    Nov 5, 2020
  19. 2020-Q2

    Bank of New York Mellon Corp Quarterly Report for Q2 Ended Jun 30, 2020

    The Bank of New York Mellon Corporation (BK) reported its second quarter 2020 results, showing resilience amidst a challenging economic environment. Net income applicable to common shareholders was $901 million, or $1.01 per diluted common share, a slight decrease from $969 million, or $1.01 per diluted common share, in the prior year's second quarter. Total revenue increased by 2% year-over-year to $4.0 billion, driven primarily by a 2% increase in fee revenue, which benefited from higher fees in Asset Servicing and Pershing, partially offset by money market fee waivers and lower investment management fees. Net interest revenue saw a 3% decrease due to lower interest rates, though this was partially mitigated by lower funding costs and increased deposits. The company's capital position remained strong, with a CET1 ratio of 12.6% under the Advanced Approaches. BNY Mellon's business segments showed varied performance, with Investment Services revenue up 3% and AUC/A growing 5% to $37.3 trillion, while Investment and Wealth Management revenue decreased 3%, although AUM increased 6% to $2.0 trillion. The company also highlighted its proactive management of the challenging macroeconomic outlook, including increased provision for credit losses and continued investments in technology. Regulatory capital ratios remained robust, comfortably exceeding minimum requirements. Management emphasized its commitment to supporting clients and maintaining capital strength during the ongoing economic uncertainty.

    Aug 6, 2020
  20. 2020-Q1

    Bank of New York Mellon Corp Quarterly Report for Q1 Ended Mar 31, 2020

    In the first quarter of 2020, BNY Mellon reported net income applicable to common shareholders of $944 million, or $1.05 per diluted common share, an increase from $910 million, or $0.94 per diluted common share, in the same period last year. Total revenue rose by 5% to $4.1 billion, primarily driven by a 10% increase in fee revenue, which benefited from higher foreign exchange and other trading revenue, as well as increased transaction volumes in Investment Services. However, net interest revenue decreased by 3%, largely due to lower interest rates. The company also recorded a higher provision for credit losses of $169 million, reflecting the macroeconomic environment and the adoption of the CECL accounting standard. Key events during the quarter included the appointment of Todd Gibbons as CEO and the temporary suspension of share buybacks in response to the COVID-19 pandemic. The company successfully transitioned approximately 95% of its employees to remote work arrangements with minimal disruption. Despite market volatility, BNY Mellon's diversified fee-based business model provided resilience, with Investment Services showing strong revenue growth, while Investment Management experienced a revenue decline. BNY Mellon maintained strong capital and liquidity positions, with a CET1 ratio of 11.3% at the end of the quarter. The company returned capital to shareholders through $985 million in share repurchases and $282 million in dividends, with repurchases completed before the suspension announcement.

    May 7, 2020
  21. 2019-Q3

    Bank of New York Mellon Corp Quarterly Report for Q3 Ended Sep 30, 2019

    The Bank of New York Mellon Corporation (BK) reported its third-quarter 2019 financial results, showing a net income applicable to common shareholders of $1.0 billion, or $1.07 per diluted share, a slight decrease from the prior year's $1.08 billion, or $1.06 per diluted share. Total revenue declined by 5% to $3.9 billion, primarily driven by a 1% decrease in fee revenue and a significant 18% drop in net interest revenue. The decline in net interest revenue was notably impacted by a $70 million lease-related impairment. Despite the revenue pressures, BNY Mellon demonstrated effective expense management, with noninterest expense decreasing by 5% to $2.6 billion, largely due to a reduction in reserves for tax-related exposures and lower litigation expenses. The company also maintained a strong capital position, with a CET1 ratio of 11.1% under the Advanced Approaches, consistent with the previous quarter. During the period, BNY Mellon returned capital to shareholders through $981 million in common stock repurchases and $294 million in dividends.

    Nov 7, 2019
  22. 2019-Q2

    Bank of New York Mellon Corp Quarterly Report for Q2 Ended Jun 30, 2019

    The Bank of New York Mellon Corporation (BK) reported a net income applicable to common shareholders of $969 million, or $1.01 per diluted share, for the second quarter of 2019. This represents a decrease from the $1.06 billion, or $1.03 per diluted share, reported in the same quarter of the prior year. Total revenue declined by 5% to $3.9 billion, primarily due to a 3% decrease in fee revenue and a 12% decrease in net interest revenue. Fee revenue was impacted by AUM outflows, a stronger U.S. dollar, and lower foreign exchange and securities lending revenue, partially offset by increases in Issuer Services and clearance volumes. Net interest revenue declined due to higher funding costs and lower non-interest-bearing deposits, outpacing yield improvements. Despite the revenue pressures, the company demonstrated expense control, with noninterest expense decreasing by 4% to $2.6 billion, driven by lower staff expenses and the favorable impact of a stronger U.S. dollar. The company also returned capital to shareholders, repurchasing $750 million of common stock and increasing its quarterly cash dividend by 11% to $0.31 per share. BNY Mellon maintained a strong capital position, with a CET1 ratio of 11.1% at June 30, 2019.

    Aug 7, 2019
  23. 2019-Q1

    Bank of New York Mellon Corp Quarterly Report for Q1 Ended Mar 31, 2019

    The Bank of New York Mellon Corporation (BK) reported its first quarter 2019 financial results, showing a year-over-year decrease in net income applicable to common shareholders to $910 million, or $0.94 per diluted share, compared to $1.14 billion, or $1.10 per diluted share, in the first quarter of 2018. This decline was primarily driven by a 7% decrease in total revenue, which fell to $3.9 billion. The revenue reduction was attributed to a 9% drop in fee revenue, impacted by foreign currency translation, prior year divestitures, net asset management outflows, and lower foreign exchange revenue. Net interest revenue also decreased by 8% due to lower deposit and loan balances and higher deposit rates. Despite the revenue headwinds, the company managed to reduce non-interest expense by 1% to $2.7 billion, supported by lower incentive and volume-related expenses, although technology investments continued. The CET1 ratio improved to 11.1% from 10.7% at the end of 2018, reflecting solid capital generation. BNY Mellon also returned capital to shareholders through $555 million in common stock repurchases and $270 million in dividends.

    May 8, 2019
  24. 2018-Q3

    Bank of New York Mellon Corp Quarterly Report for Q3 Ended Sep 30, 2018

    Bank of New York Mellon Corporation (BK) reported a net income applicable to common shareholders of $1.08 billion, or $1.06 per diluted common share, for the third quarter of 2018, an increase from $983 million, or $0.94 per diluted common share, in the third quarter of 2017. This improvement was driven by a 1% increase in total revenue to $4.1 billion, primarily due to a 6% rise in net interest revenue, benefiting from higher interest rates, and a 1% increase in fee revenue, supported by higher equity market values and improved collateral management and clearance volumes. Despite a 3% increase in noninterest expense, largely attributed to technology investments and higher litigation expenses, the company maintained a strong capital position with a CET1 ratio of 11.2%. BNY Mellon also returned capital to shareholders through $602 million in common stock repurchases and $283 million in dividends. The results demonstrate resilience and continued strategic investment, positioning the company for ongoing performance in its core Investment Services and Investment Management segments.

    Nov 6, 2018
  25. 2018-Q2

    Bank of New York Mellon Corp Quarterly Report for Q2 Ended Jun 30, 2018

    In the second quarter of 2018, Bank of New York Mellon (BK) demonstrated robust financial performance, driven by an 8% increase in Investment Services revenue and a 3% rise in Investment Management revenue, contributing to a 5% overall revenue increase to $4.1 billion. Net income applicable to common shareholders grew to $1.06 billion, or $1.03 per diluted share, up from $926 million, or $0.88 per diluted share, in the prior year's second quarter. This growth was fueled by higher equity market values, a weaker U.S. dollar, and increased net interest revenue driven by higher rates. The company also strengthened its capital position, with the CET1 ratio improving to 11.0% from 10.7% at the end of the first quarter. BNY Mellon's commitment to shareholder returns was evident with the board approving a significant 17% increase in its quarterly cash dividend on common stock to $0.28 per share, alongside a new $2.4 billion share repurchase program. These capital actions, combined with strong operational performance, highlight the company's focus on enhancing shareholder value. Investments in technology and real estate consolidation were noted as key drivers of a 3% increase in non-interest expense, which the company expects to continue as it enhances its technological infrastructure.

    Aug 3, 2018
  26. 2018-Q1

    Bank of New York Mellon Corp Quarterly Report for Q1 Ended Mar 31, 2018

    The Bank of New York Mellon Corporation (BNY Mellon) reported strong first-quarter 2018 results, with net income applicable to common shareholders rising to $1.14 billion, or $1.10 per diluted share, from $880 million, or $0.83 per diluted share, in the prior year. Total revenue increased by 9% to $4.2 billion, driven by a 10% rise in fee revenue and a 16% increase in net interest revenue. This growth was supported by higher equity market values, a weaker U.S. dollar, and increased interest rates and deposits. The company's two primary segments, Investment Services and Investment Management, both demonstrated robust performance. Investment Services saw an 11% revenue increase and a 22% rise in income before taxes, reaching a record $33.5 trillion in Assets Under Custody/Administration (AUC/A). Investment Management also reported a 13% revenue increase and a significant 38% jump in income before taxes, with Assets Under Management (AUM) growing by 8% to $1.9 trillion. BNY Mellon also highlighted a healthy capital position with a CET1 ratio of 10.7% under the Advanced Approach. The company returned capital to shareholders through $644 million in common stock repurchases and $246 million in dividends. The effective tax rate for the quarter was 19.5%, reflecting the lower federal statutory tax rate from the Tax Cuts and Jobs Act of 2017.

    May 8, 2018
  27. 2017-Q3

    Bank of New York Mellon Corp Quarterly Report for Q3 Ended Sep 30, 2017

    In the third quarter of 2017, Bank of New York Mellon Corporation (BK) demonstrated solid financial performance, with net income applicable to common shareholders rising to $983 million, or $0.94 per diluted common share, up from $974 million, or $0.90 per diluted common share, in the same period of the prior year. The company saw a healthy increase in both Assets Under Custody/Administration (AUC/A) and Assets Under Management (AUM), reaching record levels of $32.2 trillion and $1.8 trillion, respectively. This growth was driven by higher market values, favorable foreign currency movements, and net new business. BNY Mellon also made significant strategic and leadership changes, including the appointment of Charles W. Scharf as CEO and the increase in its quarterly cash dividend to $0.24 per common share, representing a 26% rise. The company continues to focus on enhancing client experience and leveraging its scale and expertise. While most business segments showed revenue growth, the company faced some headwinds, such as lower foreign exchange revenue due to decreased market volatility and a decline in Depositary Receipts revenue. Overall, the quarter reflects a stable performance with positive growth in key AUM metrics and a commitment to shareholder returns.

    Nov 7, 2017
  28. 2017-Q2

    Bank of New York Mellon Corp Quarterly Report for Q2 Ended Jun 30, 2017

    The Bank of New York Mellon Corporation (BK) reported solid results for the second quarter of 2017, with net income applicable to common shareholders reaching $926 million, or $0.88 per diluted share. This represents an increase from both the prior year's second quarter ($825 million, or $0.75 per share) and the prior quarter ($880 million, or $0.83 per share), indicating positive operational momentum. Key drivers of this performance include strong growth in fee and other revenues, particularly from investment services and investment management fees, which benefited from higher market values and net inflows. Net interest revenue also saw a significant increase, up 8% year-over-year, driven by higher interest rates. The company also announced a substantial 26% increase in its quarterly cash dividend, signaling confidence in its financial strength and commitment to returning capital to shareholders. Furthermore, BNY Mellon received regulatory approval for its capital plan, supporting a significant share repurchase program. The company's capital ratios remain robust, with CET1 ratios well above regulatory minimums, demonstrating a strong capital position.

    Aug 3, 2017
  29. 2017-Q1

    Bank of New York Mellon Corp Quarterly Report for Q1 Ended Mar 31, 2017

    Bank of New York Mellon Corporation (BK) reported a solid first quarter for 2017, demonstrating growth in key areas despite a stronger U.S. dollar impacting reported results. Net income applicable to common shareholders was $880 million, or $0.83 per diluted common share, an increase from both the prior year quarter ($804 million) and the preceding quarter ($822 million). The company saw record levels in Assets Under Custody/Administration (AUC/A) at $30.6 trillion, a 5% year-over-year increase, and Assets Under Management (AUM) grew 5% to $1.73 trillion, primarily driven by higher market values. Fee revenues showed resilience, with Investment Services fees up 4% and Investment Management fees up 4% year-over-year, reflecting stronger market values and new business wins, though partially offset by currency headwinds. BNY Mellon maintained a strong capital position with a CET1 ratio of 10.4% under the Advanced Approach (and 11.5% on a fully phased-in basis). Net interest revenue increased 3% year-over-year to $792 million, supported by higher interest rates and hedging activities, though slightly down from the prior quarter due to hedging impacts. Noninterest expense was largely stable year-over-year, with increases in consulting expenses for regulatory compliance offset by other cost reductions and currency impacts. The company also highlighted its ongoing efforts to enhance client experience through digital solutions and maintain financial strength.

    May 8, 2017
  30. 2016-Q3

    Bank of New York Mellon Corp Quarterly Report for Q3 Ended Sep 30, 2016

    The Bank of New York Mellon Corporation (BK) reported solid performance for the third quarter of 2016, with net income applicable to common shareholders increasing to $974 million, or $0.90 per diluted common share, compared to $820 million, or $0.74 per diluted common share, in the same quarter of the prior year. This growth was driven by increases in key fee-based businesses, including investment services and investment management fees. Assets under custody and/or administration (AUC/A) and assets under management (AUM) both saw healthy year-over-year increases of 7% and 6% respectively, reflecting higher market values. Net interest revenue also improved, driven by strategic asset management and higher market interest rates, with the net interest margin (FTE) expanding to 1.06% from 0.98% in the prior year quarter. Key events during the quarter included the issuance of $1 billion in preferred stock and a 12% increase in the common stock dividend, signaling a commitment to returning capital to shareholders. Management highlighted ongoing investments in risk management and regulatory compliance. While the company noted the potential impact of issuing additional debt to satisfy resolution plan requirements, the overall financial results demonstrate continued operational strength and a focus on client value.

    Nov 8, 2016
  31. 2016-Q2

    Bank of New York Mellon Corp Quarterly Report for Q2 Ended Jun 30, 2016

    Bank of New York Mellon Corp. (BK) reported its second quarter 2016 financial results, demonstrating resilience and a commitment to shareholder returns amidst a dynamic market. The company received no objection from the Federal Reserve for its 2016 capital plan, enabling significant shareholder return initiatives, including a substantial common stock repurchase program and an increase in the quarterly cash dividend. Financially, BK's Assets Under Custody/Administration (AUC/A) grew 3% year-over-year to $29.5 trillion, reflecting new business and market value increases. However, Assets Under Management (AUM) saw a slight 2% decrease to $1.66 trillion, impacted by net outflows and a stronger U.S. dollar. Fee and other revenue remained relatively stable year-over-year, with investment services fees showing a slight increase, while investment management and performance fees declined due to outflows and currency impacts. Net interest revenue saw a slight decrease year-over-year, primarily due to hedging activities and premium amortization. Noninterest expense was managed effectively, decreasing 4% year-over-year, driven by cost efficiencies and a stronger U.S. dollar, though the company anticipates increased expenses related to risk management and regulatory compliance. Capital ratios remained robust, with the CET1 ratio under the Advanced Approach at 10.2%. The company's proactive capital management, including the issuance of preferred stock and share repurchases, signals confidence in its financial strength and a strategy focused on enhancing shareholder value.

    Aug 8, 2016
  32. 2016-Q1

    Bank of New York Mellon Corp Quarterly Report for Q1 Ended Mar 31, 2016

    For the first quarter of 2016, Bank of New York Mellon Corporation (BK) reported net income applicable to common shareholders of $804 million, or $0.73 per diluted common share, an increase from $766 million, or $0.67 per diluted common share, in the first quarter of 2015. Assets under custody and/or administration (AUC/A) grew 2% year-over-year to $29.1 trillion, while assets under management (AUM) decreased 5% to $1.64 trillion. Investment services fees increased slightly by 1% year-over-year to $1.77 billion, driven by asset servicing and issuer services, while investment management and performance fees declined 6% to $812 million, primarily due to lower market values and net outflows. Net interest revenue increased by 5% to $766 million, with a net interest margin (FTE) of 1.01%. Noninterest expense decreased 3% year-over-year due to lower staff and other operating costs, partially offset by increased distribution and servicing expenses. BNY Mellon reported a fully phased-in CET1 ratio of 9.8% under the Advanced Approach and 11.0% under the Standardized Approach, indicating strong capital adequacy. The company also completed the acquisition of Atherton Lane Advisers, LLC, adding approximately $2.45 billion in AUM. A significant development noted is the FDIC and Federal Reserve's determination that BNY Mellon's 2015 resolution plan was not credible, requiring remedial actions by October 1, 2016.

    May 10, 2016
  33. 2015-Q3

    Bank of New York Mellon Corp Quarterly Report for Q3 Ended Sep 30, 2015

    Bank of New York Mellon Corp. (BK) reported its third-quarter 2015 results, showing a net income applicable to common shareholders of $820 million, or $0.74 per diluted common share. This represents a decrease from the $1.1 billion reported in the prior year quarter, primarily due to the absence of significant gains from asset sales in the prior year. However, the company saw growth in its Investment Services fees, which increased by 2% year-over-year, driven by net new business and organic growth in key areas like Global Collateral Services and Asset Servicing. Despite a slight decrease in Assets Under Management (AUM) sequentially, year-over-year AUM remained flat at $1.63 trillion, supported by higher market values and the Cutwater acquisition. The company also managed its expenses effectively, with a 10% year-over-year decrease in noninterest expense, partly due to a stronger U.S. dollar and cost-reduction initiatives. BNY Mellon's capital position remains strong, with its estimated CET1 ratio (Advanced Approach, fully phased-in) at 9.3%, although down from the prior quarter. The company also announced the relocation of its corporate headquarters and addressed an operational disruption caused by a SunGard system issue, which is now resolved. Overall, the report indicates a solid operational performance with growth in core fee-based businesses, while managing expenses and maintaining a healthy capital base, despite some headwinds from foreign currency fluctuations and market conditions.

    Nov 6, 2015
  34. 2015-Q2

    Bank of New York Mellon Corp Quarterly Report for Q2 Ended Jun 30, 2015

    Bank of New York Mellon Corp. (BK) reported solid results for the second quarter of 2015, with net income applicable to common shareholders of $830 million, or $0.73 per diluted share. On a non-GAAP basis, which excludes litigation and restructuring charges, net income was $868 million, or $0.77 per diluted share. This represents a significant improvement compared to the second quarter of 2014, where net income was $554 million ($0.48 per share), or $715 million ($0.62 per share) on a non-GAAP basis. Key business segments performed well. Investment Services fees increased by 4% year-over-year, driven by growth in asset servicing and clearing services. Assets under Custody/Administration (AUC/A) remained strong at $28.6 trillion, a slight increase from the prior year, reflecting higher market values and organic growth. Assets Under Management (AUM) also grew to $1.7 trillion, driven by higher market values, net new business, and the acquisition of Cutwater Asset Management. The company also addressed significant legal matters, reaching a settlement in principle for a foreign exchange-related class action lawsuit for $180 million, resulting in a $50 million pre-tax charge. Additionally, a settlement with the UK Financial Conduct Authority resulted in a £126 million ($190 million) fine, which was covered by existing legal reserves. Despite these charges, the company's financial performance remained robust.

    Aug 7, 2015
  35. 2015-Q1

    Bank of New York Mellon Corp Quarterly Report for Q1 Ended Mar 31, 2015

    The Bank of New York Mellon Corporation (BK) reported solid financial performance for the first quarter of 2015, demonstrating growth in key business segments and effective expense management. Net income applicable to common shareholders increased year-over-year to $766 million, or $0.67 per diluted share, compared to $661 million, or $0.57 per diluted share, in the prior year quarter. This improvement was driven by robust growth in assets under custody/administration (AUC/A) and assets under management (AUM), which reached $28.5 trillion and $1.7 trillion, respectively, reflecting higher market values and net new business. Fee and other revenue saw a 4% increase year-over-year, supported by strong performance in investment services and foreign exchange trading. BNY Mellon also made significant strides in its capital management and strategic initiatives. The company received a non-objection from the Federal Reserve for its 2015 capital plan, paving the way for an approved share repurchase program of up to $3.1 billion. Furthermore, the company resolved substantially all foreign exchange-related legal actions for $714 million, which was covered by existing reserves, indicating a proactive approach to managing legal contingencies. While noninterest expense remained controlled, the company continues to invest in compliance and risk functions, reflecting the evolving regulatory landscape.

    May 8, 2015
  36. 2014-Q3

    Bank of New York Mellon Corp Quarterly Report for Q3 Ended Sep 30, 2014

    The Bank of New York Mellon Corporation (BK) reported solid results for the third quarter of 2014, driven by strong performance in its Investment Services and Investment Management businesses. Total revenue saw a significant increase year-over-year, largely due to substantial gains from the sale of its equity investment in Wing Hang Bank and the One Wall Street office building. Fee and other revenue benefited from increases in asset servicing fees and investment management fees, reflecting higher market values and net new business. Net interest revenue experienced a year-over-year decrease due to lower asset yields, although this was partially offset by higher average interest-earning assets. The company also highlighted its strategic exit from the derivatives sales and trading business and the acquisition of Cutwater Asset Management, which is expected to close in early 2015. BNY Mellon maintained strong capital ratios, exceeding regulatory requirements and expressing confidence in its ability to meet upcoming Basel III and Supplementary Leverage Ratio (SLR) requirements.

    Nov 7, 2014
  37. 2014-Q2

    Bank of New York Mellon Corp Quarterly Report for Q2 Ended Jun 30, 2014

    The Bank of New York Mellon Corporation (BK) reported its second quarter 2014 results, showing a net income of $554 million, or $0.48 per diluted share. Excluding specific charges, adjusted net income was $715 million, or $0.62 per diluted share. The company saw significant growth in its assets under custody/administration (AUC/A) and assets under management (AUM), up 9% and 15% year-over-year respectively, driven by higher market values. However, total fee and other revenue decreased by 7% year-over-year, primarily due to a gain on an equity investment in the prior year's quarter and lower foreign exchange trading revenue. Net interest revenue also declined by 5% year-over-year, primarily due to lower yields on investment securities. BNY Mellon continued its strategic initiatives, including the sale of its equity investment in Wing Hang Bank and the sale of its One Wall Street office building, expected to generate significant gains. The company also recorded restructuring charges related to streamlining actions and a charge for administrative errors. Capital ratios remained strong, with estimated CET1 ratios above regulatory requirements.

    Aug 11, 2014
  38. 2014-Q1

    Bank of New York Mellon Corp Quarterly Report for Q1 Ended Mar 31, 2014

    In the first quarter of 2014, The Bank of New York Mellon Corporation (BK) reported a significant turnaround in profitability, posting net income of $661 million, or $0.57 per diluted share, compared to a net loss of $266 million, or $0.23 per diluted share, in the same period of the prior year. This improvement was largely driven by the absence of a substantial charge related to foreign tax credits that impacted Q1 2013 results. Total fee and other revenue saw a modest increase of 1% year-over-year to $2.9 billion, supported by growth in asset servicing and investment management fees. Key operational highlights include a record $1.62 trillion in assets under management (AUM), up 14% year-over-year, and $27.9 trillion in assets under custody and/or administration (AUC/A), up 6% year-over-year, both benefiting from higher market values. The company also announced its 2014 capital plan, receiving no objection from the Federal Reserve, which included a significant share repurchase authorization and a 13% increase in its quarterly common stock dividend, signaling confidence in its financial stability and commitment to shareholder returns.

    May 9, 2014
  39. 2013-Q3

    Bank of New York Mellon Corp Quarterly Report for Q3 Ended Sep 30, 2013

    The Bank of New York Mellon Corporation (BK) reported solid results for the third quarter of 2013, driven by growth in its core businesses and a significant one-time benefit from a favorable tax court ruling. Assets under custody and/or administration (AUC/A) increased to $27.4 trillion, up 4% year-over-year, while assets under management (AUM) reached a record $1.53 trillion, a 13% increase. This growth contributed to higher investment services fees and investment management and performance fees, signaling continued client engagement and market appreciation. The company's net income applicable to common shareholders was $967 million, or $0.82 per diluted share, bolstered by a $261 million after-tax benefit ($0.22 per diluted share) from the U.S. Tax Court's partial reconsideration of a tax decision. Excluding this benefit, adjusted net income was $706 million, or $0.60 per diluted share. The company also maintained a strong capital position, with its estimated Basel III Tier 1 common equity ratio at 10.1% on a fully phased-in basis, indicating a solid buffer against regulatory requirements.

    Nov 8, 2013
  40. 2013-Q2

    Bank of New York Mellon Corp Quarterly Report for Q2 Ended Jun 30, 2013

    In the second quarter of 2013, Bank of New York Mellon Corporation (BK) demonstrated robust performance, driven by increases in key revenue streams and a significant reduction in expenses compared to the prior year. Net income applicable to common shareholders was $833 million, or $0.71 per diluted common share, a substantial improvement from the prior year's $466 million, which was impacted by a significant litigation charge. The company saw strong year-over-year growth in Assets Under Custody/Administration (AUC/A) by 4% to $26.2 trillion and Assets Under Management (AUM) by 10% to $1.43 trillion, reflecting higher market values and net new business. Investment services and management fees also saw healthy increases, supported by higher market values and client inflows. BNY Mellon's operational efficiency was highlighted by a 7% year-over-year decrease in noninterest expense, primarily due to lower litigation charges. The company also benefited from a $109 million after-tax gain from its investment in ConvergEx. Looking ahead, BNY Mellon is navigating evolving regulatory landscapes, including the implementation of Basel III capital rules, and continues to focus on capital management, evidenced by its share repurchase program and dividend increase. The company's capital ratios remain strong, exceeding regulatory requirements.

    Aug 8, 2013
  41. 2013-Q1

    Bank of New York Mellon Corp Quarterly Report for Q1 Ended Mar 31, 2013

    The Bank of New York Mellon Corporation (BK) reported its first quarter 2013 financial results, marked by a net loss of $266 million, or $0.23 per diluted share. This loss was significantly impacted by a substantial $854 million after-tax charge related to a U.S. Tax Court ruling that disallowed certain foreign tax credits for the 2001 and 2002 tax years. Excluding this one-time charge, the company would have reported a net income of $588 million, or $0.50 per diluted share, which is a slight decrease compared to the $619 million in net income reported in the first quarter of 2012. Despite the net loss, key business metrics showed growth. Assets under custody and/or administration (AUC/A) reached $26.3 trillion, a 2% increase year-over-year, driven by new business and market appreciation. Assets under management (AUM) hit a record $1.43 trillion, up 9% year-over-year, also benefiting from net new business and higher market values. Fee and other revenue remained stable year-over-year at $2.8 billion, with growth in investment management and asset servicing fees offsetting declines in other areas. Importantly, the company received Federal Reserve approval for its 2013 capital plan, leading to an increase in share repurchases and a dividend increase.

    May 9, 2013
  42. 2012-Q3

    Bank of New York Mellon Corp Quarterly Report for Q3 Ended Sep 30, 2012

    The Bank of New York Mellon (BK) reported third-quarter 2012 net income applicable to common shareholders of $720 million, or $0.61 per diluted share, up from $651 million ($0.53) a year earlier and $466 million ($0.39) in the second quarter. Results were helped by lower M&I, litigation and restructuring charges (about $26 million versus $378 million in Q2, which included a roughly $350 million Sigma-related charge) and a lower effective tax rate of 23.1%. Underlying revenue was roughly flat year over year: fee and other revenue of $2.9 billion was virtually unchanged, with investment management fees up 7% and issuer services and foreign exchange revenue down. Net interest revenue fell 3% year over year to $749 million, and the net interest margin compressed to 1.20% from 1.30%, reflecting lower reinvestment yields, the loss of interest on ECB deposits and lower accretion. Assets under custody and administration reached a record $27.9 trillion and assets under management a record $1.4 trillion, both driven by higher market values and net new business. Capital strengthened markedly: the estimated Basel III Tier 1 common equity ratio rose to 9.3% from 8.7% in the prior quarter, the Basel I Tier 1 capital ratio reached 15.3%, and the company repurchased 13.4 million shares for $288 million. The unrealized pre-tax gain on the investment securities portfolio grew to $2.5 billion, and the company issued preferred stock. Management flagged ongoing headwinds, including continued run-off of structured debt securitizations in Corporate Trust, pressure on foreign exchange revenue from competition and lower volatility, elevated litigation costs, and an uncertain Hurricane Sandy impact. Subsequent events include the acquisition of the remaining 50% of WestLB Mellon Asset Management. For investors, the quarter shows a return to stronger reported earnings, improved capital ratios and continued growth in client assets, offset by a structurally compressed net interest margin, flat underlying fee growth and significant legal exposures, including a pending Tax Court case with up to about $900 million at stake and securities lending litigation.

    Nov 8, 2012
  43. 2012-Q2

    Bank of New York Mellon Corp Quarterly Report for Q2 Ended Jun 30, 2012

    BNY Mellon's Q2 2012 results were dominated by a one-time litigation charge tied to the Sigma securities lending matter. Net income applicable to common shareholders fell to $466 million, or $0.39 per diluted share, versus $735 million ($0.59) a year earlier and $619 million ($0.52) in Q1. The quarter absorbed a pre-tax charge of roughly $350 million (about $212 million after tax, or $0.18 per share), largely for the $280 million expected payment to settle the CompSource Oklahoma class action over Sigma Finance investments. Excluding that charge, the underlying picture was steadier but weaker in revenue: total fee and other revenue was flat sequentially at $2.8 billion but down 8% year-over-year, and net interest revenue was flat year-over-year at $734 million, while net interest margin compressed to 1.25% from 1.41%. The balance sheet and capital position improved. Total assets reached $330 billion, driven by client deposits, and assets under custody and administration hit a record $27.1 trillion. The estimated Basel III Tier 1 common equity ratio rose to 8.7% under the June 2012 proposed rules, up from 7.6% at March 31 (calculated under prior guidance), and the Basel I Tier 1 capital ratio was 14.7%. Management repurchased 12.2 million shares for $286 million and kept the quarterly dividend at $0.13. Expense discipline was mixed: noninterest expense rose 8% year-over-year to $3.0 billion including the litigation charge, while operational excellence initiatives are on track for $240-260 million of net annualized savings in 2012. Forward-looking pressures include a roughly $20-25 million second-half hit to net interest revenue from the ECB rate cut, continued foreign exchange revenue weakness from competitive pricing pressure and the standing-instruction litigation, and an effective tax rate guided to 27-28% for Q3. The filing also flags a pending Tax Court case over roughly $900 million of foreign tax credits, where a decision could come within 12 months.

    Aug 8, 2012
  44. 2012-Q1

    Bank of New York Mellon Corp Quarterly Report for Q1 Ended Mar 31, 2012

    The Bank of New York Mellon Corporation (BK) reported a solid first quarter in 2012, with net income applicable to common shareholders of $619 million, or $0.52 per diluted share. This represents a slight decrease from the prior year's $625 million but a significant increase from the previous quarter's $505 million. The company achieved record levels in both Assets Under Custody and Administration (AUC/A) at $26.6 trillion and Assets Under Management (AUM) at $1.31 trillion, demonstrating continued growth in its core businesses. Fee and other revenue remained stable year-over-year, supported by strong performance in asset servicing and clearing services, although investment management and performance fees saw a slight decline. Net interest revenue increased year-over-year, driven by higher client deposits and investment securities, though net interest margin slightly compressed. BNY Mellon's capital position remains strong, with its estimated Basel III Tier 1 common equity ratio improving to 7.6%. The company also received Federal Reserve approval for its 2012 capital plan, which includes $1.16 billion in share repurchases and a continued quarterly dividend of $0.13 per share. The company's focus on operational excellence initiatives is expected to yield significant cost savings.

    May 9, 2012
  45. 2011-Q3

    Bank of New York Mellon Corp Quarterly Report for Q3 Ended Sep 30, 2011

    The Bank of New York Mellon's Q3 2011 results show net income applicable to common shareholders of $651 million, or $0.53 per diluted share, down from $735 million ($0.59) in Q2 2011 but up from $622 million ($0.51) in Q3 2010. Year-to-date net income was $2.01 billion ($1.61 per diluted share) versus $1.84 billion ($1.51) a year earlier. Total fee and other revenue was $2.89 billion for the quarter, up 8% year-over-year but down 6% sequentially, while net interest revenue rose to $775 million, driven by a large increase in client deposits invested in low-yielding short-term assets. Net interest margin compressed to 1.30% from 1.67% a year ago, and deposits grew sharply to $210.9 billion from $145.3 billion at year-end 2010. Expenses rose to $2.77 billion, up 6% year-over-year, including $80 million of litigation expense and a $22 million charge tied to the change in executive management when Robert Kelly stepped down and Gerald Hassell became chairman and CEO effective Aug. 31, 2011. Management also announced an expense reduction initiative affecting about 1,500 positions and expects a restructuring charge in Q4. Assets under custody and administration reached $25.9 trillion, up 6% year-over-year, while assets under management were $1.20 trillion, down 6% sequentially on lower equity markets. Capital remained solid under Basel I, with Tier 1 capital at 14.0% and Tier 1 common at 12.5%, but the estimated Basel III Tier 1 common equity ratio was 6.5%, and management now expects it to fall below the 7% previously targeted for year-end 2011. The company repurchased 31.3 million shares year-to-date and paid a $0.13 quarterly dividend. Ongoing risks include European sovereign exposure, pending litigation (including Sentinel, auction rate securities, securities lending, Madoff-related, and foreign exchange matters), and a potential goodwill impairment test in Q4 if share prices remain depressed.

    Nov 8, 2011
  46. 2011-Q2

    Bank of New York Mellon Corp Quarterly Report for Q2 Ended Jun 30, 2011

    BNY Mellon's second quarter 2011 results showed net income applicable to common shareholders of $735 million, or $0.59 per diluted share, up from $625 million ($0.50) in the first quarter and $658 million ($0.54) a year earlier. Return on common equity was 8.8% and total revenue reached a record $3.85 billion, up 15% year over year. Growth was driven largely by the July 2010 Global Investment Servicing and August 2010 BHF Asset Servicing acquisitions, higher market values and net new business, with fee and other revenue up 20% year over year to $3.06 billion. Assets under custody and administration reached a record $26.3 trillion and assets under management a record $1.27 trillion. Profitability pressures remain visible. Net interest revenue rose only modestly to $731 million, and the net interest margin compressed to 1.41% from 1.74% a year earlier because of tighter spreads in the low-rate environment. Noninterest expense climbed 22% year over year to $2.82 billion, reflecting the acquisitions, higher litigation costs and merit increases. Management expects litigation costs to keep running above historical trend. Foreign exchange trading revenue fell 25% year over year as volatility declined, although the quarter benefited from gains on loans retained from a divested subsidiary and from securities sales. Balance sheet and capital metrics strengthened. Total assets rose to $304.7 billion, driven by a sharp increase in deposits to $198.0 billion. The estimated Basel III Tier 1 common equity ratio rose to 6.6% from 6.1% in the first quarter, and the Basel I Tier 1 capital ratio was 14.1%. Pending divestitures of Shareowner Services ($550 million) and the ConvergEx stake are expected to add roughly 35 basis points to the Basel III ratio. Credit quality improved, with no provision for credit losses in the quarter and nonperforming assets declining to $351 million. The company also repurchased 9.8 million shares in the quarter and declared a $0.13 quarterly dividend.

    Aug 8, 2011
  47. 2011-Q1

    Bank of New York Mellon Corp Quarterly Report for Q1 Ended Mar 31, 2011

    Bank of New York Mellon Corporation (BK) reported its first quarter 2011 results, demonstrating solid performance driven by its core Investment Management and Investment Services businesses. Net income applicable to common shareholders was $625 million, or $0.50 per diluted share, representing an increase from the prior year quarter. Total revenue grew to $3.65 billion, primarily fueled by a 12% year-over-year increase in fee and other revenue, reaching $2.84 billion. Assets under custody and administration (AUC) hit a record $25.5 trillion, and assets under management (AUM) also reached a new high of $1.23 trillion, reflecting strong client inflows and positive market performance. Strategically, BNY Mellon announced a definitive agreement to sell its Shareowner Services business to sharpen its focus on its core growth areas and enhance capital ratios. The company also received regulatory approval for a capital plan, leading to a significant 44% increase in its quarterly dividend and expanded share repurchase authorization. These actions underscore BNY Mellon's commitment to returning capital to shareholders while strategically positioning itself for future growth.

    May 9, 2011
  48. 2010-Q3

    Bank of New York Mellon Corp Quarterly Report for Q3 Ended Sep 30, 2010

    The Bank of New York Mellon's third-quarter 2010 10-Q shows a company in an active acquisition and integration phase. Income from continuing operations applicable to common shareholders was $625 million, or $0.51 per diluted share, versus $668 million ($0.55) in the second quarter of 2010 and a $2.4 billion loss in the third quarter of 2009, which was driven by the securities portfolio restructuring. Nine-month results were $1.89 billion net income applicable to common shareholders, compared with a loss of $1.96 billion a year earlier. Total fee and other revenue rose to $2.7 billion for the quarter, and net interest revenue was flat year over year at $718 million, with the net interest margin compressing to 1.67% from 1.85%. Noninterest expense climbed 13% year over year to $2.6 billion, reflecting the Global Investment Servicing (GIS), BHF Asset Servicing (BAS) and Insight acquisitions. Scale and capital are the key themes. Assets under custody and administration reached a record $24.4 trillion and assets under management reached $1.14 trillion, both helped by the acquisitions. Capital ratios declined sequentially, with the Tier 1 capital ratio falling to 12.2% from 13.5% and the tangible common equity ratio falling to 5.3% from 6.3%, mainly because of the cash-funded acquisitions (GIS cost $2.3 billion), partly offset by a $677 million equity raise. Credit quality improved, with a $22 million negative provision for credit losses and criticized assets down 52% year over year. Management expects a 28-30% effective tax rate in the fourth quarter, and it flagged that the Foreign Tax Credit change could raise the 2011 tax rate. Investors should weigh the improved earnings and credit trends against the rising expense base, the thinner margin and capital cushion after the acquisitions, and continued pressure in money market fee waivers, securities lending spreads, and the stagnant securitization market affecting Issuer Services. Litigation costs are expected to run above historical trends, and several legal matters remain open, including the Sentinel, CFTC, Madoff/Ivy and Medical Capital cases.

    Nov 8, 2010
  49. 2010-Q2

    Bank of New York Mellon Corp Quarterly Report for Q2 Ended Jun 30, 2010

    The Bank of New York Mellon's Q2 2010 results show improving profitability. Income from continuing operations applicable to common shareholders was $668 million, or $0.55 per diluted share, up from $601 million ($0.49) in Q1 2010 and $267 million ($0.23) in Q2 2009. GAAP net income applicable to common shareholders was $658 million ($0.54 per diluted share). Total revenue was $3.36 billion, roughly flat sequentially and up 14% year over year. Fee and other revenue made up 77% of total revenue, supported by asset servicing and asset and wealth management fees, while sequential results were pressured by lower market values (the S&P 500 fell 12% in the quarter). Net interest margin compressed to 1.74% from 1.89% in Q1 as the company reduced targeted loan exposure and shortened the duration of placements. Capital and credit metrics strengthened. The Tier 1 capital ratio rose to 13.5% from 13.3%, the Tier 1 common equity ratio reached 11.9%, and the tangible common equity ratio rose to 6.3%. Credit quality improved, with the provision for credit losses falling to $20 million from $61 million a year earlier and nonperforming assets declining 12% sequentially to $406 million. Pre-tax operating margin was 30%, and the company reported a $700 million common equity offering, with a forward sale agreement expected to settle in Q3 2010. The filing also highlights significant post-quarter activity: the July 1, 2010 acquisition of Global Investment Servicing for $2.31 billion, the August 2, 2010 acquisition of BHF Asset Servicing, and the pending I(3) Advisors deal. Management also flagged risks from the newly enacted Dodd-Frank Act, including higher deposit insurance assessments, the phase-out of trust-preferred securities from Tier 1 capital, and a proposed financial crisis responsibility fee estimated at about $200 million annually. Ongoing legal matters, including the Sentinel bankruptcy claim, CFTC inquiries, and securities lending litigation, remain a watch item.

    Aug 6, 2010
  50. 2010-Q1

    Bank of New York Mellon Corp Quarterly Report for Q1 Ended Mar 31, 2010

    The Bank of New York Mellon's first quarter 2010 10-Q shows a company that remains profitable and well capitalized but with mixed underlying trends. Income from continuing operations applicable to common shareholders was $601 million, or $0.49 per diluted share, down from $712 million ($0.59) in the fourth quarter of 2009 and up from $363 million ($0.31) a year earlier. Total revenue rose to $3.38 billion from $2.91 billion a year ago, helped by a swing in investment securities results (net gains of $7 million versus a $295 million loss in Q1 2009). Fee and other revenue grew 5% year over year on higher asset and wealth management fees, which benefited from the Insight acquisition and market appreciation. However, the quarter absorbed a $164 million litigation reserve, which pushed noninterest expense up to $2.46 billion, and net interest revenue slipped to $765 million as narrowing spreads and lower balances offset the benefit of the restructured securities portfolio. Capital and credit metrics improved. The Tier 1 capital ratio rose to 13.3% from 12.1% at year-end, the tangible common equity ratio reached 6.1%, and the provision for credit losses fell to $35 million from $59 million a year earlier. Nonperforming assets declined 17% sequentially to $459 million. Unrealized losses on the investment portfolio narrowed sharply as credit spreads recovered. The company also adopted SFAS 166/167, which added about $13 billion of consolidated assets and is expected to reduce the Tier 1 ratio by roughly 140 basis points on a fully phased-in basis, a point investors should weigh. Looking ahead, management is pursuing two acquisitions, Global Investment Servicing ($2.31 billion cash) and BHF Asset Servicing, both expected to close in the third quarter of 2010 and to be accretive to earnings. Management expects litigation costs above historical trend levels for the rest of 2010 and a sizable net interest revenue contribution (about $320 million for full-year 2010) from the investment portfolio restructuring. Regulatory overhangs include a proposed Financial Crisis Responsibility Fee (about $200 million annually if enacted as proposed) and pending financial reform legislation that could affect trust preferred treatment and the debt ratings uplift the company receives from government support assumptions.

    May 7, 2010