BNY Mellon (BK) Rides on High Rates Despite Expense Woes [Yahoo! Finance]
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: Yahoo! Finance
However, an elevated expense base and concentrated revenues from fee income are concerns. High interest rates continue to support BNY Mellon's net interest revenues (NIR) and net interest margin (NIM), though a rise in funding costs exerts pressure on both. The company's NIR witnessed a compound annual growth rate (CAGR) of 3.8% over the five years ended 2023. Likewise, NIM improved to 1.25% in 2023 from 0.97% in 2022, 0.68% in 2021 and 0.84% in 2020. Though NIR and NIM dipped in the first quarter of 2024 because of higher funding costs, both are expected to stabilize gradually in the upcoming quarters and witness an improvement over time. While we anticipate NIR to decline in 2024, the metric is estimated to recover and grow 2.1% and 6.2% in 2025 and 2026, respectively. NIM is estimated to be 1.11%, 1.12% and 1.19% in 2024, 2025 and 2026, respectively. As of Mar 31, 2024, BK had a total debt of $50.9 billion and cash and due from banks and interest-bearing deposits of $124.5 bi
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BK
Earnings
- 4/16/24 - Beat
BK
Sec Filings
- 5/9/24 - Form 4
- 5/9/24 - Form 4
- 5/8/24 - Form 144
- BK's page on the SEC website