BNY Mellon sees marginal securities lending revenue rise
18 January 2018 New York
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BNY Mellon鈥檚 securities lending revenue for Q4 2017 slightly exceeded the previous year鈥檚 quarterly total by $1 million.
The New York-based investment bank reached $45 million last quarter, up from $44 million in Q4 2016.
The asset servicing fees for Q4 2017 overall reached $1.1 billion, a marginal increase on the $1.04 billion during the same period in Q4 2016.
Asset servicing fees increased 6 percent year-over-year and 2 percent sequentially.
The year-over-year increase primarily reflects higher equity market values, net new business, including growth in collateral management, and the favourable impact of the weaker US dollar.
BNY Mellon cited securities lending, net new business, equity market values and money market fees, as the primary drivers of its growth.
Charles Scharf, chair and CEO of BNY Mellon, said: 鈥淥ur fourth quarter results were impacted by new tax legislation and actions that we took to strengthen our firm for the longer term.鈥�
The New York-based investment bank reached $45 million last quarter, up from $44 million in Q4 2016.
The asset servicing fees for Q4 2017 overall reached $1.1 billion, a marginal increase on the $1.04 billion during the same period in Q4 2016.
Asset servicing fees increased 6 percent year-over-year and 2 percent sequentially.
The year-over-year increase primarily reflects higher equity market values, net new business, including growth in collateral management, and the favourable impact of the weaker US dollar.
BNY Mellon cited securities lending, net new business, equity market values and money market fees, as the primary drivers of its growth.
Charles Scharf, chair and CEO of BNY Mellon, said: 鈥淥ur fourth quarter results were impacted by new tax legislation and actions that we took to strengthen our firm for the longer term.鈥�
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