23 January 2017
New York
Reporter: Drew Nicol

BNY Mellon ends 2016 on a high

BNY Mellon posted its strongest securities lending revenue of the year in Q4 2016.

The bank raked in $44 million during the final quarter, up from the $42 million achieved in each of the first three quarters.

Q4’s securities lending performance also outdid the bank’s results during the same period in 2015 by 5 percent.

BNY Mellon’s clearing services fees hit $355 million in Q4, representing an increase of 2 percent on Q3 2016 results and 5 percent on Q4 2015 results.

The bank said this was primarily driven by higher money market fees and that the year-over-year increase was partially offset by the impact of “previously disclosed lost business”.

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