Bank of New York Mellon Corporation ( (BK) ) has released its Q4 earnings. Here is a breakdown of the information Bank of New York Mellon Corporation presented to its investors.
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The Bank of New York Mellon Corporation (BNY) is a global financial services company based in New York City, specializing in asset management and custody services, and serving a broad spectrum of clients, including many Fortune 100 companies and top banks worldwide.
In its fourth quarter of 2024, BNY Mellon reported a commendable financial performance with earnings per common share of $1.54, or $1.72 when adjusted. The company achieved record net income of $4.3 billion and revenue of $18.6 billion for the full year, with significant returns to shareholders.
Key financial highlights include total revenue growth of 11% to $4.8 billion for the quarter, driven by a 9% increase in fee revenue and an 8% rise in net interest income. The company maintained a strong return on tangible common equity of 23.3%, and successfully implemented strategic initiatives, including a brand refresh and a new commercial coverage model.
BNY Mellon also reported a 9% increase in assets under custody and administration, reaching $52.1 trillion, and a 3% increase in assets under management to $2 trillion. The company’s solid financial metrics underscore its robust operational execution and strategic positioning.
Looking forward, BNY Mellon’s management remains optimistic about 2025, highlighting momentum and strategic alignment to unlock further opportunities. The company’s focus on innovation and client service is expected to drive continued success in the financial services industry.
