BNY Mellon profit falls 20 percent on lower fee revenue
Reuters
Published Apr 17, 2019 06:41AM ET
BNY Mellon profit falls 20 percent on lower fee revenue
(Reuters) - Bank of New York Mellon (NYSE:BK) Corp reported a 20 percent fall in quarterly profit on Wednesday, as the world's largest custodian bank's fee revenue declined.
The bank said net income applicable to common shareholders fell to $910 million, or 94 cents per share, in the first quarter ended March 31, from $1.14 billion, or $1.10 per share, a year earlier. (https://reut.rs/2ZlhuuP)
Total revenue fell 6.7 percent to $3.90 billion.
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Written By: Reuters
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