The Bank of New York Mellon(US:BK)2025-01-15 18:39Financial Performance - Full Year 2024 - Record net income of $4.3 billion on record revenue of $18.6 billion[8] - Total revenue increased by 5% year-over-year[10] - Net income increased by 41% year-over-year, or 13% excluding notable items[10] - Expenses decreased by 4% year-over-year, or increased by 1% excluding notable items, reaching $12.7 billion[10] - The company returned $4.4 billion to common shareholders, including $1.3 billion in dividends and $3.1 billion in share repurchases[10] Financial Performance - 4Q24 - Total revenue increased by 11% year-over-year to $4.8 billion[23] - Adjusted expenses increased by 2% year-over-year[23] - Adjusted EPS increased by 33% year-over-year[23] - The company returned $1.1 billion to common shareholders, including $349 million in dividends and $750 million in share repurchases[25] Strategic Initiatives - Approximately 25% of employees transitioned into the Platforms Operating Model by year-end 2024[7] - The company realized approximately $500 million of efficiency savings in 2024[7] - Wove momentum accelerating with $29 million revenue booked in 2024, and an exit rate of ~$75 million at year-end[12] 2025 Outlook - Net Interest Income is expected to increase by mid-single-digits % year-over-year[57] - Expenses (excluding notable items) are expected to increase by 1 – 2% year-over-year[57]