BNY Mellon has revealed assets under custody of $29.1 trillion as well as reporting a 5% increase in net revenue interest.
The AuC represents a 2% increase for BNY and has been put down to net new business and the favourable impact of a weaker US dollar.
Total revenue for the first quarter stood at $804 million compared to $766 million in the same period in 2015.
“In challenging market conditions, we generated solid earnings growth as we executed on our strategic priorities. First quarter earnings per share grew by 9% year over year and we generated approximately 250 basis points of positive operating leverage while improving our operating margin to 31%,” said Gerald L. Hassell, chairman and chief executive officer.
“We are intently focused on enhancing the client experience and driving further efficiencies. Our business improvement process has enabled funding for important strategic investments for regulatory compliance and risk management excellence, technology and servicing platform improvements.”
BNY Mellon increases assets under custody
BNY Mellon has revealed assets under custody of $29.1 trillion as well as reporting a 5% increase in net revenue interest.