Bank of New York Mellon Corporation
The Bank of New York Mellon Corporation Announces Third Quarter 2024 Financial Results
Summary
The Bank of New York Mellon Corporation (BNY) reported financial results for the third quarter of 2024, showing a 22% increase in earnings per share to $1.50, driven by growth across its three business segments. Total revenue increased by 5% to $4.6 billion, with fee revenue rising 5% and investment and other revenue also increasing. BNY's assets under custody and administration exceeded $50 trillion for the first time. The company also announced a conference call to discuss these results on October 11, 2024.
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About Bank of New York Mellon Corporation
Bank of New York Mellon Corporation, commonly known as BNY Mellon, is a prominent financial services company that provides investment management and investment services around the globe. Founded in 1784, it is one of the oldest banking institutions in the United States, with a rich history and a significant role in the evolution of global finance. BNY Mellon specializes in asset servicing, wealth management, and issuer services, catering to a broad spectrum of clients that include financial institutions, corporations, and high-net-worth individuals. The corporation plays a critical role in the financial markets through its custody and administration services, safeguarding trillions of dollars in assets. By leveraging its advanced technology and global reach, BNY Mellon ensures efficient capital flow and security. Its leadership in providing solutions tailored to the evolving needs of its clients enhances market structure and stability. Headquartered in New York City, BNY Mellon is an influential entity in shaping the financial landscape, promoting liquidity, and supporting operational efficiency across diverse sectors and markets.
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