UPDATE 2-BNY Mellon expects net interest revenue to drop again, shares slide [Reuters]
The Bank of New York Mellon Corporation (BK)
Last the bank of new york mellon corporation earnings: 4/16 06:30 am
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US:NYSE Investor Relations:
bnymellon.com/us/en/investor-relations/index.jsp
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Source: Reuters
BNY Mellon expects net interest revenue to drop again, shares slide (Reuters) - Bank of New York Mellon Corp said on Wednesday it expects net interest revenue to decline again in the current quarter as the world’s largest custodian bank pays higher interest rates to attract deposits, sending its shares down 9 percent. The U.S. Federal Reserve in March did an about-turn on its campaign to raise interest rates and now sees no hikes this year on risks to the economy from a global slowdown. “While the current expectations for the yield curve will likely negatively impact our revenue growth for the next several quarters, we will remain disciplined on expenses..,” said Chief Executive Officer Charlie Scharf. Scharf said competition for deposits was still high, and that the bank expected the rate it paid on deposits to increase a little. The bank, which gets bulk of its revenue from managing money of clients such as big banks and hedge funds, said it expects second-quarter net interest reven
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BK
Earnings
- 4/16/24 - Beat
BK
Sec Filings
- 5/3/24 - Form 10-Q
- 5/2/24 - Form 497K
- 5/2/24 - Form 497
- BK's page on the SEC website