BNY Mellon surpasses $50 trillion in assets under custody as Q3 profit beats estimates and declares dividend ๐Ÿ“ˆ

11:02 AM 11 October 2024

BNY Mellon (BK.US) released its Q3 2024 earnings report today ahead of the Wall Street session, revealing it has become the first bank in history to surpass $50 trillion in assets under custody and administration. The shares gained 1.3% in pre-market. BNY Mellon reported better-than-expected Q3 results in several key areas, including adjusted EPS, revenue, and net interest revenue. The bank's investment services fees rose 5% to $2.34 billion, while income from foreign exchange jumped 14% to $175 million. BNY Mellon's total assets under custody and/or administration reached $52.1 trillion, significantly exceeding analysts' expectations and marking a historic milestone for the banking industry. Implied one day move for the company based on historical data was 3.35%, with an average surprise of 6.57% above consensus for adjusted EPS.ย It has also declared a quarterly common stock dividend of $0.47 per share, payable on November 1, 2024 to shareholders of record as of the close of business on October 21, 2024.

ย 

Highlights

Start investing today or test a free demo

Open real account TRY DEMO Download mobile app Download mobile app
  • Assets under custody and/or administration reached a record $52.1 trillion, becoming the first bank to surpass $50 trillion
  • Assets under management grew to $2.14 trillion, exceeding estimates
  • Adjusted EPS of $1.52, beating expectations
  • Revenue rose to $4.65 billion, surpassing estimates
ย 

BNY Mellon Q3 2024 Results

  • Assets under custody and/or administration: $52.1 trillion vs $51.08 trillion expected
  • Assets under management: $2.14 trillion vs $2.08 trillion expected
  • Adjusted EPS: $1.52 vs $1.42 expected
  • Revenue: $4.65 billion vs $4.55 billion expected
  • Net interest revenue: $1.05 billion vs $1 billion expected

Segment Breakdown

  • Investment services fees: $2.34 billion (+5% YoY)
  • Foreign exchange income: $175 million (+14% YoY)
  • Issuer services fees: $285 million vs $286.6 million expected
  • Treasury services fees: $200 million vs $197.6 million expected

Other Key Metrics

  • Net interest margin: 1.16% vs 1.13% expected
  • Return on equity: 12% vs 11.3% expected
  • Common equity Tier 1 ratio: 11.9% vs 11.5% expected
  • Provision for credit losses: $23 million vs $11.4 million expected
  • Non-interest expenses: $3.10 billion vs $3.07 billion expected
  • Total deposits: $296.44 billion vs $296.46 billion expected
  • Net loans: $69.16 billion vs $70.35 billion expected
  • Liquidity coverage ratio: 116%

Additional Notes

  • BNY Mellon became the first bank in history to surpass $50 trillion in assets under custody and administration
  • The bank's stock is up 76% over the past year, outpacing the average growth of 48% seen by other American banks
  • BNY Mellon recently announced it would custody Washington D.C.-based Wisdom Tree's $80 billion worth of U.S. listed ETFs, including one of the first U.S. bitcoin ETFs
  • The bank's proprietary artificial intelligence is already being used by 14,000 of its 55,000 employees
  • BNY Mellon is in the midst of an overhaul aimed at cutting costs, streamlining operations, and focusing on higher margin-businesses
  • The bank declared a quarterly common stock dividend of $0.47 per share, payable on November 1, 2024

ย 

ย 

Source: xStation

Share:
Back

Join over 1 000 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissรฃo de Valores Mobiliรกrios (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits

We use cookies

By clicking โ€œAccept Allโ€, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

This group contains cookies that are necessary for our websites to work. They take part in functionalities like language preferences, traffic distribution or keeping user session. They cannot be disabled.

Cookie name
Description
SERVERID
userBranchSymbol Expiration date 25 October 2024
test_cookie Expiration date 24 October 2024
adobe_unique_id Expiration date 24 October 2025
__hssc Expiration date 24 October 2024
SESSID Expiration date 2 March 2024
__cf_bm Expiration date 24 October 2024
intercom-id-iojaybix Expiration date 21 July 2025
intercom-session-iojaybix Expiration date 31 October 2024
xtbCookiesSettings Expiration date 24 October 2025
TS5b68a4e1027
countryIsoCode
xtbLanguageSettings Expiration date 24 October 2025
userPreviousBranchSymbol Expiration date 24 October 2025
TS5b68a4e1027
intercom-device-id-iojaybix Expiration date 21 July 2025
__cf_bm Expiration date 24 October 2024
__cfruid
__cfruid
__cf_bm Expiration date 24 October 2024
__cf_bm Expiration date 24 October 2024
_cfuvid
adobe_unique_id Expiration date 24 October 2025
_cfuvid
TS5b68a4e1027
xtbCookiesSettings Expiration date 24 October 2025
SERVERID
TS5b68a4e1027
__hssc Expiration date 24 October 2024
test_cookie Expiration date 1 March 2024
__cf_bm Expiration date 24 October 2024
_cfuvid
_cfuvid
__cf_bm Expiration date 24 October 2024
__cf_bm Expiration date 24 October 2024

We use tools that let us analyze the usage of our page. Such data lets us improve the user experience of our web service.

Cookie name
Description
_gid Expiration date 9 September 2022
_gat_UA-98728395-1 Expiration date 8 September 2022
_gat_UA-121192761-1 Expiration date 8 September 2022
_gcl_au Expiration date 22 January 2025
_ga_CBPL72L2EC Expiration date 24 October 2026
_ga Expiration date 24 October 2026
__hstc Expiration date 22 April 2025
__hssrc
_vwo_uuid_v2 Expiration date 25 October 2025
_ga_TC79BEJ20L Expiration date 24 October 2026
_vwo_uuid Expiration date 16 October 2025
_vwo_ds Expiration date 15 November 2024
_vwo_sn Expiration date 16 October 2024
_vis_opt_s Expiration date 24 January 2025
_vis_opt_test_cookie
af_id Expiration date 23 February 2025
afUserId Expiration date 25 January 2026
af_id Expiration date 24 January 2026
AF_SYNC Expiration date 1 February 2024
_ga Expiration date 24 October 2026
_gid Expiration date 25 October 2024
_ga_CBPL72L2EC Expiration date 24 October 2026
__hstc Expiration date 22 April 2025
__hssrc
_ga_TC79BEJ20L Expiration date 24 October 2026
_gcl_au Expiration date 22 January 2025
AnalyticsSyncHistory Expiration date 31 March 2024

This group of cookies is used to show you ads of topics that you are interested in. It also lets us monitor our marketing activities, it helps to measure the performance of our ads.

Cookie name
Description
MUID Expiration date 18 November 2025
_omappvp Expiration date 6 October 2035
_omappvs Expiration date 24 October 2024
_uetsid Expiration date 25 October 2024
_uetvid Expiration date 18 November 2025
_fbp Expiration date 22 January 2025
fr Expiration date 7 December 2022
_ttp Expiration date 22 January 2025
_tt_enable_cookie Expiration date 22 January 2025
_ttp Expiration date 22 January 2025
hubspotutk Expiration date 22 April 2025
IDE Expiration date 10 November 2025
YSC
VISITOR_INFO1_LIVE Expiration date 22 April 2025
hubspotutk Expiration date 22 April 2025
_omappvp Expiration date 11 February 2035
_omappvs Expiration date 1 March 2024
_uetsid Expiration date 25 October 2024
_uetvid Expiration date 18 November 2025
_ttp Expiration date 22 January 2025
MUID Expiration date 18 November 2025
_fbp Expiration date 22 January 2025
_tt_enable_cookie Expiration date 22 January 2025
_ttp Expiration date 22 January 2025
li_sugr Expiration date 30 May 2024
guest_id_marketing Expiration date 24 October 2026
guest_id_ads Expiration date 24 October 2026
guest_id Expiration date 24 October 2026
muc_ads Expiration date 24 October 2026
VISITOR_PRIVACY_METADATA Expiration date 22 April 2025
MSPTC Expiration date 18 November 2025
IDE Expiration date 18 November 2025
MSPTC Expiration date 18 November 2025

Cookies from this group store your preferences you gave while using the site, so that they will already be here when you visit the page after some time.

Cookie name
Description
bcookie Expiration date 24 October 2025
lidc Expiration date 25 October 2024
UserMatchHistory Expiration date 31 March 2024
bscookie Expiration date 1 March 2025
li_gc Expiration date 22 April 2025
bcookie Expiration date 24 October 2025
li_gc Expiration date 22 April 2025
lidc Expiration date 25 October 2024
personalization_id Expiration date 24 October 2026

This page uses cookies. Cookies are files stored in your browser and are used by most websites to help personalise your web experience. For more information see our Privacy Policy You can manage cookies by clicking "Settings". If you agree to our use of cookies, click "Accept all".

Change region and language
Country of residence
Language