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BNY Mellon has introduced a White Labeling service for its LiquidityDirect platform. This service enables financial institutions to offer their clients liquidity management solutions, including short-term investments, the bank said in a Monday (Oct. 23) press release.
BNY reported earnings today and they have a total revenue growth of only 2% over the prior year. The upfront dividend yield is 4% but the growth prospects are lacking. The Wealth Management division experienced a 4% reduction in revenue YoY.
The investment bank beat estimates on the top and bottom lines. Average loans and deposits fell from the quarter a year ago.
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BNY Mellon (NYSE:BK) reported an earnings beat for the third quarter as its income from loans jumped due to higher interest rates. The New York bank reported a 2% year-over-year increase in revenue from $4.28 billion to $4.37 billion, above the consensus estimate of $4.30 billion.
The Bank of New York Mellon Corporation (BK) came out with quarterly earnings of $1.27 per share, beating the Zacks Consensus Estimate of $1.14 per share. This compares to earnings of $1.21 per share a year ago.
BNY Mellon (BK) records a rise in revenues and lower expenses in the third quarter of 2023.
Bank of New York Mellon reported earnings of $1.22 a share on revenue of $4.4 billion in the third quarter.
A year-over-year decline in earnings but slightly higher revenue are expected from BNY Mellon (NYSE:BK) when it reports its third quarter earnings before the stock market opens on Tuesday, October 17. Wall Street analysts, on average, expect the bank to report earnings per share of $1.14 on revenue of $4.30 billion for the quarter ending in September.
BNY Mellon's (BK) interest income is expected to have increased in the third quarter of 2023, supported by higher interest rates.