Revenue rises 13% to $5.7 billion as fee and interest income climb
Bank of New York Mellon posted net income of $1.7 billion, or $2.45 per share, for the three months ended June 30, compared with $1.39 billion, or $1.93 per share, in the same period a year earlier, the bank said Wednesday. Adjusted earnings, which exclude one-time items, came in at $2.46 per share, topping the $2.23 consensus estimate from analysts surveyed by FactSet.
Total revenue climbed 13% to $5.7 billion, well above the $5.4 billion analysts had expected. The bank said fee revenue grew 11% to $4.04 billion, driven by net new business, higher market values, and elevated client activity, which more than offset negative shifts in flows of assets under management.
Net interest income, the gap between what the bank earns on loans and securities and what it pays on deposits, advanced 20% to $1.45 billion. BNY Mellon attributed the increase to growth in its balance sheet and the continued reinvestment of maturing investment securities at higher yields.
The results add to a string of above-forecast earnings from major U.S. banks in 2026, as rising markets and elevated interest rates have boosted both fee-based revenue streams and lending income.