Bank of New York Mellon Corp

Latest Results (17.12.2024):

Revenue Growth

In the second quarter of 2024, Bank of New York Mellon Corp reported a total revenue of $4.6 billion, marking a 2% increase compared to the same period in the previous year. This growth was primarily driven by a 4% rise in fee revenue, which was attributed to higher market values, net new business, and increased client activity. However, net interest income saw a 6% decline due to changes in balance sheet mix, despite being partially offset by higher interest rates.

Earnings Per Share

Bank of New York Mellon Corp's earnings per share (EPS) for the second quarter of 2024 stood at $1.52, reflecting a 16% increase year-over-year. When adjusted for notable items, the EPS was $1.51, representing a 9% rise. This improvement in EPS was supported by the company's focus on expense discipline and solid fee growth, contributing to positive operating leverage.

Profitability Metrics

The bank achieved a pre-tax operating margin of 33% in the second quarter of 2024, consistent with the margin excluding notable items. The return on tangible common equity (ROTCE) was reported at 24.6%, or 24.4% when adjusted for notable items. These metrics highlight the bank's strong profitability and efficient management of its operations during the quarter.

Capital Distribution

During the second quarter of 2024, Bank of New York Mellon Corp returned $923 million of capital to common shareholders. This included $322 million in dividends and $601 million in share repurchases, resulting in a total payout ratio of 107% year-to-date. The bank's capital distribution strategy underscores its commitment to delivering value to shareholders.

Assets Under Management

As of the end of the second quarter of 2024, Bank of New York Mellon Corp reported assets under custody and/or administration (AUC/A) of $49.5 trillion, a 6% increase from the previous year. Additionally, assets under management (AUM) rose by 7% to $2.05 trillion, driven by higher market values. These figures reflect the bank's robust asset management capabilities and its ability to attract and retain client assets.