Summary by Futu AI
On January 12, 2024, The Bank of New York Mellon Corporation (BNY Mellon) reported its financial results for the fourth quarter of 2023, which ended on December 31, 2023. The report revealed earnings per common share of $0.33, or $1.28 as adjusted, and full-year earnings per common share of $4.00, or $5.05 as adjusted. BNY Mellon highlighted its resilience and ability to perform in challenging environments, noting a year-over-year increase of 38% on a reported basis and 10% on an adjusted basis for full-year earnings per share. The bank also reported improvements in pre-tax margin and return on tangible common equity (ROTCE), as well as a strong capital return to shareholders, amounting to $3.9 billion or 123% of earnings for the year. The financial results were accompanied by...Show More