BNY Mellon reports strong Q2 performance with revenue and EPS growth.

From Investing.com: 2024-07-14 12:06:52

BNY Mellon (BNY) reported strong financial performance in Q2 2024, with a 16% YoY increase in EPS to $1.52 and a 2% rise in total revenue to $4.6 billion. The company’s focus on strategic initiatives and commitment to shareholder returns led to this growth. Key highlights include a 5% growth in investment services fees and a 16% increase in foreign exchange revenue. BNY also announced over $900 million returned to shareholders and a CET1 ratio of 11.4%.

Despite a 6% YoY decline in net interest income due to changes in balance sheet mix, BNY secured significant mandates and saw growth in clearance and collateral management volumes. The company is optimistic about the future, expecting growth in the treasury market, with plans to keep expenses flat and return 100% of 2024 earnings to shareholders. Analysts have revised earnings upwards, reflecting positive sentiment towards BNY’s performance. The company’s shares are trading near their 52-week high, with a one-year price total return of 57.42%. Investors are confident in BNY’s momentum and financial strength.



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