BNY Mellon posts YoY securities lending revenue decline
20 April 2021 US
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BNY Mellon posted a decline in its securities lending revenue for Q1, compared to the same period in 2020.
Revenue for the bank’s securities lending business, which sits under its investment services business, came in at $41 million in its first quarter, down 11 per cent from $46 million reported in Q1 2020.
But, revenue for Q1 was up 14 per cent from 2020 Q4 which took in $36 million.
Elsewhere, BNY Mellon’s clearance and collateral management business saw earnings drop from $300 million in Q1 2020 to $281 million Q1 2021.
But the bank’s clearance and collateral management business increased between Q4 2020 to Q1 2021 — from $275 million to $281 million.
The bank attributed the year-over-year decrease to lower interest rates and intraday credit fees, while the sequential increase primarily reflects higher clearance volumes.
Revenue for the bank’s securities lending business, which sits under its investment services business, came in at $41 million in its first quarter, down 11 per cent from $46 million reported in Q1 2020.
But, revenue for Q1 was up 14 per cent from 2020 Q4 which took in $36 million.
Elsewhere, BNY Mellon’s clearance and collateral management business saw earnings drop from $300 million in Q1 2020 to $281 million Q1 2021.
But the bank’s clearance and collateral management business increased between Q4 2020 to Q1 2021 — from $275 million to $281 million.
The bank attributed the year-over-year decrease to lower interest rates and intraday credit fees, while the sequential increase primarily reflects higher clearance volumes.
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