Wednesday, May 16, 2012

BNY Mellon Financial Performance Rebounds

BNY Mellon ($BK) reported Q1 2012 financial results on Wednesday, April 18, 2012.

BNY Mellon Summary Q1 2012 Q1 financial performance rebounded from the poor Q4 results. Financial position continues strong. CEO Gerald Hassell explained, "We enjoyed solid sequential growth in investment management and services fees, as we benefited from new business wins and improved equity values".

BNY Mellon Income Statement Q1 2012 Net revenues were $3.65 billion, net income $631 million, and earnings per share $0.52. From the prior quarter Q4 2011, these were +3%, +321%, and +24%, respectively. From the prior year Q1 2011, these were 0.00%, -6%, and +4%, respectively. Both the operating margin of 24.27% and the net margin of 17.31% increased QoQ and decreased YoY. The operating expense ratio, traditionally high, decreased to 75.59%.

BNY Mellon Balance Sheet Q1 2012 Total assets dropped to $300.17 billion, mostly the result of a decrease in non-interest bearing deposits. The capital ratio increased to 11.60% and is strong. Return on assets decreased again,but is still a respectable +0.83%. Net Loans are only 14% of the asset mix while Cash & Investments are 67% of total assets.

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