Reported about 7 hours ago
BNY (BK) experienced a 27% rise in its fourth-quarter profit, attributing the growth to increased investment services fees from clients, driven by new client acquisitions and a favorable market rally. Total fee revenue grew by 9% to $3.51 billion, while net interest income also rose by 8% to $1.19 billion. BNY's shareholders saw profits of $1.27 billion, or $1.72 per share, compared to $1 billion, or $1.29 per share a year earlier, amidst a backdrop of economic resilience and expectations of further interest rate cuts.
Source: YAHOO