BNY Mellon Q2 2022 Earnings Report
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.
BNY Mellon
BNY Mellon
Forward Guidance
Cautionary statement indicates that a number of statements are forward-looking and based on assumptions that involve risks and uncertainties.