The Bank of New York Mellon Corporation reported strong financial results for the fourth quarter of 2024, with profit applicable to shareholders reaching $1.27 billion, or $1.72 per share. This represents a 27% increase in profit and a 33% increase in EPS compared to the same period last year, surpassing analyst expectations.
Total fee revenue for Q4 2024 grew by 9% to $3.51 billion, while net interest income (NII) rose by 8% to $1.19 billion, outperforming analyst estimates for NII. Assets under custody and administration (AUC/A) stood at $52.1 trillion, a 9% increase year-over-year, reflecting new client acquisitions and market rallies.
For the full year 2024, BNY Mellon achieved record net income of $4.3 billion on record revenue of $18.6 billion. The company delivered 968 basis points of positive operating leverage on a reported basis, and 288 basis points excluding notable items. Fee revenue grew 6% year-over-year, and BNY Mellon returned 102% of its 2024 earnings to common stockholders, underscoring its robust financial health and commitment to shareholder returns.
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