The Bank of New York Mellon Corporation has announced fourth quarter 2010 income from continuing operations applicable to common shareholders of $690 million, or $0.55 per common share, compared with $712 million, or $0.59 per common share, in the fourth quarter of 2009, and $625 million, or $0.51 per common share, in the third quarter of 2010.
Total revenue of $3.8 billion in 2010 was up 14% year-on-year, with securities servicing fees specially up 8% over 2009. Asset & wealth management fees (15%) and FX trading revenue (29%) were also up.
BNY Mellon reported record levels of assets under management and assets under custody or administration, and had $15 billion of net flows in Q4 2010.
Asset quality was exceptionally strong throughout the year, and our regulatory capital ratios grew, reflecting our strong capital generation, says Robert P. Kelly, chairman and CEO of BNY Mellon. I would like to thank our staff for all that they have accomplished for our clients and shareholders during the past year.
Net income from continuing operations applicable to common shareholders totaled $2.584 billion, or $2.11 per common share, for the full-year 2010 compared to a net loss of $1.097 billion, or $0.93 per common share, for the full-year 2009. Net income applicable to common shareholders, including discontinued operations, for the full-year 2010 totaled $2.518 billion, or $2.05 per common share, compared to a net loss of $1.367 billion, or $1.16 per common share, for the full-year 2009.