BNY Mellon ends 2016 on a high 23 January 2017 New York Reporter: Drew Nicol
Image: Shutterstock
BNY Mellon posted its strongest securities lending revenue of the year in Q4 2016.
The bank raked in $44 million during the final quarter, up from the $42 million achieved in each of the first three quarters.
Q4’s securities lending performance also outdid the bank’s results during the same period in 2015 by 5 percent.
BNY Mellon’s clearing services fees hit $355 million in Q4, representing an increase of 2 percent on Q3 2016 results and 5 percent on Q4 2015 results.
The bank said this was primarily driven by higher money market fees and that the year-over-year increase was partially offset by the impact of “previously disclosed lost business”.
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one securities finance news source this
year, make sure it is your free subscription to Securities Finance Times
Image: Shutterstock 