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BANK OF NEW YORK MELLON - Q4 Results


Investor relations: https://www.bnymellon.com/us/en/investor-relations/index.jsp

Q4 2017 Financial Results Thursday, January 18, 2018 Webcast: https://services.choruscall.com/links/bk180118GJTckIHm.html


BNY MELLON REPORTS FOURTH QUARTER EARNINGS OF $1.13 BILLION
OR $1.08 PER COMMON SHARE
Fourth quarter results include:
• U.S. tax legislation estimated net benefit of $427 million, or $0.41 per common share
• Severance, litigation and other charges of $246 million, or $0.24 per common share (a)
TOTAL REVENUE OF $3.7 BILLION, DECREASED 2%
• Includes $320 million negative impact related to U.S. tax legislation and other charges (a); which decreased
total revenue growth by 8%
• Investment management and performance fees increased 13%
• Investment services fees increased 5%; Asset servicing fees increased 6%
TOTAL EXPENSE OF $3.0 BILLION, INCREASED 14%
• Includes $282 million (pre-tax) for severance, litigation and other charges (a); which increased total
expense growth by 11%
FULL-YEAR 2017 EARNINGS OF $3.9 BILLION, OR $3.72 PER COMMON SHARE, AN INCREASE OF 18%
• Total revenue up 2% and total expense up 4%
• Includes impact of U.S. tax legislation, severance, litigation and other charges (a); which decreased revenue
growth by 2% and increased expense growth by 3%
• These items increased earnings per share growth by 5%
EXECUTING ON CAPITAL PLAN
• Returned nearly $900 million through share repurchases and dividends and $3.6 billion in full-year 2017






COMMENTS:

Wall Street Journal:  BNY Mellon to Raise Wages for 1,000 Employees Following Tax Overhaul   https://www.wsj.com/articles/bny-mellon-to-raise-wages-for-1-000-employees-following-tax-overhaul-1516299504


Pittsburg Post-Gazette: Net income rose to $1.13 billion, or $1.08 per share, up from $822 million, or 77 cents, in the same quarter a year earlier, the New York-based bank said Thursday. http://www.post-gazette.com/business/pittsburgh-company-news/2018/01/18/Bank-of-New-York-Mellon-s-profits-surge-in-fourth-quarter-pittsburgh/stories/201801180100