Key TakeawaysBank of New York Mellon Corp. exceeded profit and revenue estimates Friday as it reported that fourth-quarter interest revenue increased.The bank's assets under custody of an administrator and assets under management (AUM) both rose 8% for the latest quarter.Shares of Bank of New York Mellon jumped Friday to their highest price since February 2022.Bank of New York Mellon Corp. (BK) shares advanced roughly 4% Friday afternoon as the bank posted better-than-expected results because of surging net ...

Bank of New York Mellon Corporation’s (BK) fourth-quarter 2023 adjusted earnings of $1.28 per share surpassed the Zacks Consensus Estimate of $1.12. However, the bottom line reflects a fall of 1.5% from the prior-year quarter.Results have been primarily aided by a rise in net interest revenues and fee revenues. The assets under management (AUM) balance witnessed a rise, which was another major positive for the company. However, higher expenses have hurt the results to some extent. Also, the credit quality w ...

4Q FINANCIAL 23 HIGHLIGHTS AGENDA PAGE 1 4Q and FY 2023 Financial Results 1 Financial Outlook 2 • 2024 Outlook 13 ...

The Bank of New York Mellon Corporation (BK) came out with quarterly earnings of $1.28 per share, beating the Zacks Consensus Estimate of $1.12 per share. This compares to earnings of $1.30 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 14.29%. A quarter ago, it was expected that this company would post earnings of $1.14 per share when it actually produced earnings of $1.27, delivering a surprise of 11.40%.Over the last four ...

NEW YORK, Jan. 12, 2024 /PRNewswire/ -- The Bank of New York Mellon Corporation (NYSE: BK) today announced that its Board of Directors declared dividends on its common and preferred stock as follows: Common – a quarterly common stock dividend of $0.42 per share, payable on February 2, 2024 to shareholders of record as of the close of business on January 22, 2024. Preferred – the following dividends for the noncumulative perpetual preferred stock, liquidation preference $100,000 per share, for the dividend p ...

NEW YORK, Jan. 12, 2024 /PRNewswire/ -- BNY Mellon has reported financial results for the fourth quarter 2023. The company's earnings release along with the quarterly financial highlights and other earnings-related documents are available at www.bnymellon.com/investorrelations. Management will host a conference call and simultaneous live audio webcast at 1:00 p.m. ET today. This conference call and audio webcast will include forward-looking statements and may include other material information. Conference C ...

NEW YORK--(BUSINESS WIRE)--BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. (the "Fund") today announced that the Fund's Board of Directors has approved the Fund's quarterly tender offer (the "Tender Offer") with the following terms: Number of Shares 2.5% of the Fund's outstanding shares as of December 31, 2023 Commencement Date January 17, 2024 Expiration Date and Time February 13, 2024 at 5:00 p.m. Eastern Time, unless otherwise extended Price Net asset value per s ...

NEW YORK--(BUSINESS WIRE)--BNY Mellon Municipal Bond Infrastructure Fund, Inc. (NYSE: DMB) today announced a distribution of $0.0300 per share of common stock, payable on February 1, 2024 to shareholders of record at the close of business on January 19, 2024. The ex-dividend date is January 18, 2024. The previous distribution announced in December was $0.0300 per share of common stock. The Fund intends to make regular monthly distributions to its common shareholders at a level rate based on its projected p ...

NEW YORK--(BUSINESS WIRE)--BNY Mellon Investment Adviser, Inc. announced today that BNY Mellon Municipal Income, Inc., BNY Mellon Strategic Municipal Bond Fund, Inc. and BNY Mellon Strategic Municipals, Inc. (each, a "Fund") have declared a monthly distribution for each Fund's common shares as summarized below. The distributions are payable January 31, 2024 to shareholders of record on January 16, 2024, with an ex-dividend date of January 12, 2024.     Fund     Ticker Monthly Distribution ...

Financial Performance - Total revenue for Q3 2023 was $4,374 million, a slight decrease of 1.8% from $4,454 million in Q2 2023 and an increase of 2.2% from $4,279 million in Q3 2022[204]. - Net income applicable to common shareholders for Q3 2023 was $956 million, down 7.3% from $1,031 million in Q2 2023 and up significantly from $319 million in Q3 2022[206]. - Earnings per share (EPS) for Q3 2023 was $1.23 (basic) and $1.22 (diluted), compared to $1.31 (basic) and $1.30 (diluted) in Q2 2023, and $0.39 in Q3 2022[208]. - Comprehensive income applicable to shareholders for Q3 2023 was $835 million, compared to $1,008 million in Q2 2023 and a loss of $932 million in Q3 2022[210]. - Year-to-date net income applicable to common shareholders reached $2,892 million as of September 30, 2023, compared to $1,853 million for the same period in 2022[206]. - Net income for the nine months ended September 30, 2023, was $3,085 million, compared to $2,017 million for the same period in 2022, representing a 53% increase[215]. - Net income for the quarter ending September 30, 2023, was $1,041 million, compared to $1,068 million for the previous quarter, reflecting a decrease of approximately 2.5%[217]. Revenue Sources - Total fee and other revenue for Q3 2023 was $3,355 million, slightly up from $3,353 million in Q3 2022, reflecting a growth of 0.1%[289]. - Investment services fees for Q3 2023 amounted to $1,259 million, an increase from $1,233 million in Q3 2022, marking a growth of 2.1%[289]. - Total fee and other revenue for the third quarter of 2023 was $4,511 million, compared to $3,082 million in the same quarter of 2022, representing an increase of 46.3%[298]. - Net interest revenue for the third quarter of 2023 was $1,016 million, compared to $926 million in the same quarter of 2022, reflecting a year-over-year increase of 9.7%[298]. Expenses and Provisions - Total noninterest expense for Q3 2023 was $3,089 million, a slight decrease from $3,111 million in Q2 2023 and a significant decrease from $3,679 million in Q3 2022[204]. - The provision for credit losses was $3 million in Q3 2023, compared to $5 million in Q2 2023 and a recovery of $30 million in Q3 2022[204]. - The provision for credit losses for the quarter was $11 million, reflecting a decrease from $30 million in the previous quarter[249]. - Noninterest expense totaled $3,089 million, with the highest allocation to Securities Services at $1,585 million[400]. Assets and Liabilities - Total assets as of September 30, 2023, were $405,248 million, slightly down from $405,783 million at the end of 2022[213]. - Total liabilities decreased to $364,117 million from $364,933 million, reflecting a reduction of about 0.2%[213]. - Total deposits decreased to $277,467 million from $278,970 million, a decline of approximately 0.5%[213]. - Total permanent equity as of September 30, 2023, was $41,022 million, an increase from $40,998 million at June 30, 2023[218]. Securities and Investments - Total available-for-sale securities as of September 30, 2023, amounted to $83,074 million, with gross unrealized losses of $6,170 million[228]. - The total fair value of held-to-maturity securities was $51,007 million, reflecting gross unrealized losses of $6,798 million[228]. - The total market value of securities received that can be sold or repledged was $191 billion as of September 30, 2023, compared to $115 billion at December 31, 2022, showing a significant increase of 66.96%[243]. - The total amount of available-for-sale securities was $77.22 billion with an average yield of 2.97% as of September 30, 2023[242]. Credit Quality and Losses - The allowance for credit losses increased to $211 million from $176 million, indicating a rise in provisions for potential loan defaults[213]. - Nonperforming loans totaled $46 million as of September 30, 2023, compared to $107 million as of December 31, 2022[253]. - The total allowance for loan losses was $191 million, an increase from $164 million in the previous quarter[250]. - The total allowance for credit losses for the nine months ended September 30, 2023, was $254 million[251]. Shareholder Returns - The company repurchased $450 million of common stock during the quarter, contributing to a total treasury stock of $(26,696) million[217]. - Dividends paid on common stock were $333 million at a rate of $0.42 per share for the quarter ending September 30, 2023[217]. - Common stock dividends amounted to $860 million at a rate of $1.05 per share[222]. Tax and Regulatory Matters - The effective tax rate for the third quarter of 2023 was 18.8%, down from 38.4% in the same quarter of 2022[302]. - The company’s total tax reserves as of September 30, 2023, were $109 million, compared to $106 million at December 31, 2022[303]. - The company is cooperating with inquiries from the SEC and the Commodity Futures Trading Commission regarding compliance with recordkeeping obligations[393]. Legal and Compliance Issues - BNY Mellon is currently unable to estimate a range of reasonably possible loss for certain legal matters, but the aggregate range of reasonably possible loss is up to $590 million in excess of any accrued liability[389]. - In a lawsuit filed by Postalis, a judgment of approximately $2 million was entered against DTVM and Ativos, which is currently under appeal[390]. - The German tax authorities have issued secondary liability notices totaling approximately $150 million related to pre-acquisition activities in various funds[392].