Market Updates
Bank of New York Assets Under Management Fell 17%
Scott Peters
15 Jul, 2022
New York City
Bank of New York said revenues in the second quarter ending in June increased 7% to $4.3 billion driven by an increase of 4% in fees and 28% in net interest income.
Assets under management declined 17% to $1.9 trillion and under custody fell 4% to $43.0 trillion.
Net income declined 16% to $835 million or $1.03 a diluted share from $991 million or $1.13 a diluted share a year ago.
The company lifted its quarterly dividend by 9% to 37 cents a share.
Bank of New York Mellon added 4.8% to $42.37.
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