Bank of New York Mellon significantly exceeds profit expectations

(Boursier.com) — Bank of New York Mellon announced for its third fiscal quarter adjusted earnings per share of $1.27 and revenues of $4.4 billion. The consensus was for $1.15 in adjusted earnings per share on $4.33 billion in revenue. The group benefited, like other American banks, from the rise in interest rates. Thus, the establishment’s net interest income increased by 10% year-on-year, supporting performance over the period. The firm’s CET1 ratio at the end of the period was 11.4% versus 11% consensus. The level of assets under management, of approximately $1,820 billion, is, however, lower than expected.