AI English summary of an SEC filing — figures as filed
BNY Mellon BNYThe company said net income applicable to common shareholders for Q3 2024 was $1.11 billion ($1.50 per diluted common share), and excluding notable items, was $1.13 billion (Non-GAAP, $1.52 per share). It said Q3 2023 net income was $958 million ($1.23 per share).
Key points
AI summaryThe company said net income applicable to common shareholders for Q3 2024 was $1.11 billion ($1.50 per diluted common share), and excluding notable items, was $1.13 billion (Non-GAAP, $1.52 per share). It said Q3 2023 net income was $958 million ($1.23 per share).
BNY said fee revenue rose 5% and net interest income rose 3% compared with Q3 2023. The company cited higher market values, net new business and higher foreign exchange revenue as drivers of the fee revenue increase, and improved investment securities portfolio yields and balance sheet growth for net interest income.
The company said its CET1 ratio under the Standardized Approach was 11.9% on September 30, 2024, up from 11.4% on June 30, 2024. It said it returned $1.1 billion to common shareholders in Q3, of which $725 million was common share repurchases.
The company said it announced a definitive agreement to acquire Archer in September 2024, and that the transaction closed on November 1, 2024. It also said its Board of Directors raised the quarterly cash dividend by 12% in July 2024, from $0.42 to $0.47 per share.
Key figures
Quarter ended September 30, 2024
- Revenue
- $6.7B
- Net income
- $1.2B
- EPS
- $1.50
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.
Q3 2024 Net Income and Earnings per Share
The company said net income applicable to common shareholders for Q3 2024 was $1.11 billion ($1.50 per diluted common share), and excluding notable items, was $1.13 billion (Non-GAAP, $1.52 per share). It said Q3 2023 net income was $958 million ($1.23 per share).
Source · Based on the MD&A text of the filing
Changes in Fee Revenue and Net Interest Income
BNY said fee revenue rose 5% and net interest income rose 3% compared with Q3 2023. The company cited higher market values, net new business and higher foreign exchange revenue as drivers of the fee revenue increase, and improved investment securities portfolio yields and balance sheet growth for net interest income.
Source · Based on the MD&A text of the filing
CET1 Ratio and Shareholder Returns
The company said its CET1 ratio under the Standardized Approach was 11.9% on September 30, 2024, up from 11.4% on June 30, 2024. It said it returned $1.1 billion to common shareholders in Q3, of which $725 million was common share repurchases.
Source · Based on the MD&A text of the filing
Archer Acquisition and Dividend Increase
The company said it announced a definitive agreement to acquire Archer in September 2024, and that the transaction closed on November 1, 2024. It also said its Board of Directors raised the quarterly cash dividend by 12% in July 2024, from $0.42 to $0.47 per share.
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.
Loading the filing text…