Bank of New York Mellon's Q1 2025 earnings report and management commentary

Bank of New York Mellon Q4 Earnings Beat with $1.72 EPS, $4.85B Revenue, Boosted by Higher Interest Rates

Jan 15, 2025, 11:45 AM

Bank of New York Mellon Corp. reported its fourth-quarter earnings for 2024, surpassing analyst expectations with an adjusted earnings per share (EPS) of $1.72, compared to the estimated $1.58. The bank's total revenue reached $4.85 billion, exceeding the forecast of $4.68 billion, marking an 11% increase year-over-year. Net interest revenue was reported at $1.19 billion, above the expected $1.06 billion, with an 8% year-over-year growth. Net loans stood at $71.28 billion, higher than the anticipated $69.46 billion. The company's assets under management (AUM) were reported at $2.03 trillion, falling short of the $2.16 trillion estimate. The bank's return on equity (ROE) for the quarter was 12.2%, and pretax profit was $1.47 billion. Fee revenue amounted to $3.51 billion, and average deposits increased to $286 billion. CEO comments highlighted a strong performance closing out 2024, with positive momentum entering 2025. The earnings were bolstered by higher-for-longer interest rates, which improved the bank's margins.