BNY Mellon posts an increase in quarterly profit on higher fee revenue
- BNY Mellon records £760 million in net income in Q1 and makes 84 pence of earnings per share.
- Bank of New York Mellon Corp. posts a 10% increase in fee revenue in the first quarter.
- The U.S bank said it had £28.32 trillion worth of assets under custody at the end of Q1.
Bank of New York Mellon Corp. (NYSE:BK) said on Thursday that its quarterly profit came out stronger than expected. The American worldwide banking company attributed the increase to higher fee revenue as Coronavirus pandemic stirred volatility in the financial markets.
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