• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

BNY fourth-quarter profit rises on boost from higher fee income

by January 15, 2025
written by January 15, 2025

(Reuters) – BNY reported a 27% jump in its fourth-quarter profit on Wednesday as it earned higher investment services fees from its clients.

The bank’s fees, typically calculated as a percentage of assets under custody, benefited from the acquisition of new clients, a market rally due to the Federal Reserve’s interest-rate cuts and U.S. President-elect Donald Trump’s election win, which boosted their value.

Economic resilience and expectations of further reductions in borrowing costs prompted clients to keep up their investment activities, bolstering BNY’s bottom line.

Its total fee revenue grew 9% to $3.51 billion from a year earlier in the reported quarter.

Net interest income – the spread between earnings from assets and expenditure from liabilities – rose 8% to $1.19 billion. Analysts had expected about a 5% drop in NII, according to estimates compiled by LSEG.

Profit applicable to BNY shareholders was $1.27 billion, or $1.72 per share, for the three months ended Dec. 31, compared with $1 billion, or $1.29 per share a year earlier.

BNY’s assets under custody and administration were $52.1 trillion in the fourth quarter, 9% higher than last year.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
EU is fully enforcing social media rules, says digital chief
next post
BlackRock assets hit record $11.6 trillion in fourth quarter of 2024

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • Jana Partners signs up sixth executive as it pushes for changes at Lamb Weston, filing shows
    • Russia resells more gas in Europe after cutting off Austria, sources, data show

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy