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BNY quarterly profit rises on investment service fee boost

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Custodian Bank Nouvelles

Investment Service,Net Profit,Assets Under Management

The bank's assets under management (AUM) climbed 7% to $2.05 trillion from a year earlier, as more investors aimed to gain from a rally in the U.S. markets, ...

- BNY posted a 10% rise in second-quarter net profit on Friday, as higher investment service fees more than offset the world's largest custodian bank's lower interest income.

The benchmark S&P 500 index rose about 11% in the last three months on hopes of a soft landing for the economy. BNY's net income for the second quarter rose to $1.14 billion, or $1.52 per share, from $1.04 billion, or $1.31 per share, a year earlier, while revenue rose 2% to $4.6 billion. Kevin O'Leary says court ruling will have 'major impact' on energy sector — how to get in on the actionA Dividend Giant I’d Buy Over Fortis Stock

 

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