Finance
BNY’s Profit Jumps 21%, Warns of ‘Uncertain’ Outlook Ahead
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Bank of New York Mellon Corp.’s first-quarter net income jumped as the company reinvested maturing securities at higher yields, fueling a 6% increase in revenue.
The bank reported a 21% increase in profit to $1.15 billion, which met analyst estimates. Net interest income, or the difference between what it earns on assets and pays for liabilities, climbed 11%, BNY said Friday in a statement.