Sec lending revenue saves BNY Mellon’s Q1 results
22 April 2016 New York
Image: Shutterstock
BNY Mellon’s securities lending revenue reached $50 million in Q1, up from $46 million in the previous quarter.
This year’s first quarterly results also beat the bank’s results from the same time last year, which peaked at $43 million.
Overall, asset servicing fees, which includes securities lending, grew by a modest 1 percent in Q1 2016 from Q4 2015, but remained flat compared to the same time last year.
In its quarterly report, BNY Mellon boasted asset servicing fees of $1 billion so far this year, reflecting net new business and higher securities lending revenue, offset by lower market values.
The report also point the unfavourable impact of a stronger US dollar as another reason for the flat yearly figures.
Clearing services fees contributed $348 million in the first quarter, compared with $342 million the same time last year and $337 million in Q4 2015.
Again, the bank attributed both increases to higher money market fees, partially offset by the impact of lost business.
The quarter-to-quarter increase also reflects higher volumes.
This year’s first quarterly results also beat the bank’s results from the same time last year, which peaked at $43 million.
Overall, asset servicing fees, which includes securities lending, grew by a modest 1 percent in Q1 2016 from Q4 2015, but remained flat compared to the same time last year.
In its quarterly report, BNY Mellon boasted asset servicing fees of $1 billion so far this year, reflecting net new business and higher securities lending revenue, offset by lower market values.
The report also point the unfavourable impact of a stronger US dollar as another reason for the flat yearly figures.
Clearing services fees contributed $348 million in the first quarter, compared with $342 million the same time last year and $337 million in Q4 2015.
Again, the bank attributed both increases to higher money market fees, partially offset by the impact of lost business.
The quarter-to-quarter increase also reflects higher volumes.
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
