AI English summary of an SEC filing — figures as filed
BNY Mellon BNYThe company said net income applicable to common shareholders was $1,143 million, or $1.52 per diluted common share, in Q2 2024. Excluding notable items, it was $1,136 million (Non-GAAP), or $1.51 (Non-GAAP) per diluted common share. Net income applicable to common shareholders was $1,036 million, or $1.31 per diluted common share, in Q2 2023.
Key points
AI summaryThe company said net income applicable to common shareholders was $1,143 million, or $1.52 per diluted common share, in Q2 2024. Excluding notable items, it was $1,136 million (Non-GAAP), or $1.51 (Non-GAAP) per diluted common share. Net income applicable to common shareholders was $1,036 million, or $1.31 per diluted common share, in Q2 2023.
BNY said fee revenue increased 4% compared with Q2 2023 and net interest income decreased 6%. The company cited higher market values, net new business, higher foreign exchange revenue and higher client activity as drivers of the fee revenue increase, and changes in balance sheet mix as the reason for the decline in net interest income.
The company said its CETCET1 ratio under the Standardized Approach was 11.4% on June 30, 2024, up from 10.8% on March 31, 2024, and that it returned $923 million to common shareholders in Q2, including $601 million of common share repurchases.
The company said its Board of Directors approved a 12% increase in the quarterly cash dividend on common stock, from $0.42 to $0.47 per share, in July 2024, and that the increased dividend was paid on August 2, 2024.
Key figures
Quarter ended June 30, 2024
- Revenue
- $6.4B
- Net income
- $1.2B
- EPS
- $1.52
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Net income applicable to common shareholders for Q2
The company said net income applicable to common shareholders was $1,143 million, or $1.52 per diluted common share, in Q2 2024. Excluding notable items, it was $1,136 million (Non-GAAP), or $1.51 (Non-GAAP) per diluted common share. Net income applicable to common shareholders was $1,036 million, or $1.31 per diluted common share, in Q2 2023.
Source · Based on the MD&A text of the filing
Fee revenue and net interest income changes
BNY said fee revenue increased 4% compared with Q2 2023 and net interest income decreased 6%. The company cited higher market values, net new business, higher foreign exchange revenue and higher client activity as drivers of the fee revenue increase, and changes in balance sheet mix as the reason for the decline in net interest income.
Source · Based on the MD&A text of the filing
Capital ratio and shareholder returns
The company said its CETCET1 ratio under the Standardized Approach was 11.4% on June 30, 2024, up from 10.8% on March 31, 2024, and that it returned $923 million to common shareholders in Q2, including $601 million of common share repurchases.
Source · Based on the MD&A text of the filing
Quarterly dividend increase
The company said its Board of Directors approved a 12% increase in the quarterly cash dividend on common stock, from $0.42 to $0.47 per share, in July 2024, and that the increased dividend was paid on August 2, 2024.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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