BNY Mellon Q2 2022 Earnings Report

BNY Mellon's Q2 2022 results reflected a year-over-year revenue increase, driven by growth in fee and net interest revenue, but were impacted by higher expenses and provisions for credit losses.

Key Takeaways

BNY Mellon reported Q2 2022 financial results with a 7% increase in revenue year-over-year, driven by growth in fee revenue and net interest revenue. However, the company also experienced a rise in expenses and provisions for credit losses, impacting overall profitability.

Revenue increased by 7% year-over-year, with fee revenue up 4% and net interest revenue up 28%.

Expenses rose by 12% year-over-year, or 8% excluding notable items.

Provision for credit losses was $47 million, compared to a provision benefit of $86 million in Q2 2021.

The company returned $0.3 billion to common shareholders in dividends and increased the quarterly dividend by 9% to $0.37 per common share for Q3 2022.

Total Revenue

$4.25B

Previous year: $3.96B