BNY-Mellon: Q1 net income down 9%
(CercleFinance.com) - BNY-Mellon has reported a 9% decline in net income for the first three months of 2021 to 858 million dollars, or 97 cents per share, on revenues that are down 5% to 3.
92 billion dollars, which were weighed on by a 20% fall in net interest income.
The New York-based bank said it had reversed 83 million dollars in credit loss provisions over the period, although its non-interest expenses rose 5% to 2.85 billion dollars, with higher staff costs and the weak dollar.
After closing down 1.3% on Thursday, the share is currently up about 1% in pre-market trading.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
92 billion dollars, which were weighed on by a 20% fall in net interest income.
The New York-based bank said it had reversed 83 million dollars in credit loss provisions over the period, although its non-interest expenses rose 5% to 2.85 billion dollars, with higher staff costs and the weak dollar.
After closing down 1.3% on Thursday, the share is currently up about 1% in pre-market trading.
Copyright (c) 2021 CercleFinance.com. All rights reserved.