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Stock impact report

BNY Mellon's Earnings Increase Shows Strength of Fee-Based Model [The Motley Fool]

The Bank of New York Mellon Corporation (BK) 
Last the bank of new york mellon corporation earnings: 4/16 06:30 am Check Earnings Report
Company Research Source: The Motley Fool
Over the past two weeks, most of the biggest banks in the U.S. have reported earnings. Every one reported large earnings-per-share declines from increased provisioning for credit losses due to the newcurrent expected credit lossBank of New York Mellon(NYSE:BKImage source: Getty Images.Fee-based revenue saves the dayIn the first quarter of 00, BNY Mellon earned $.0 per share compared to $0.9 in the first quarter of 09. Revenues rose % on a year-over-year basis to $. billion, driven by a 0% increase in fee income and a % decline in net interest income. On the conference call, CEO Thomas Gibbons had this to say about BNY Mellon's model and the current environment:We have a lower risk fee-based business model that positions us relatively well in an environment like this. We perform stress tests regularly as do our regulators. ... We have a highly diversified business model with a conservative risk profile and fees in general are skewed toward recurring revenue streams.Market volatility dr Show less Read more
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