The Bank Of New York Mellon Corporation · NYSE:BNY
The Bank Of New York Mellon — Bank of New York Mellon — Q3 2024 Earnings Presentation
15 slides from The Bank Of New York Mellon's earnings presentation, Oct 11, 2024
Slide 1: 3Q24 Financial Highlights
3Q 24 FINANCIAL October 11, 2024 HIGHLIGHTS
Slide 2: 3Q24 Financial Highlights
2 • Revenue Growth: Revenue of $4.6bn up 5% YoY – Investment services fees up 5% YoY – Investment management and performance fees up 2% YoY – Foreign exchange revenue up 14% YoY – Net interest income up 3% YoY • Expense Discipline: Expense of $3.1bn flat YoY; up 1%(b) excluding notable items • Balan
Slide 3: 3Q24 Financial Results
3 3Q24 vs. $mm, except per share data or unless otherwise noted 3Q24 2Q24 3Q23 2Q24 3Q23 Income Statement Investment services fees $2,344 $2,359 $2,230 (1)% 5% Investment management and performance fees 794 761 777 4 2 Foreign exchange revenue 175 184 154 (5) 14 Other fee revenue 91 94 84 (3) 8 Tota
Slide 4: Capital and Liquidity
4 3Q24 2Q24 3Q23 Consolidated regulatory capital ratios(a) Tier 1 capital ($mm) $23,972 $23,006 $22,985 Average assets for Tier 1 leverage ratio ($mm) 398,381 394,672 379,429 Tier 1 leverage ratio 6.0% 5.8% 6.1% Common Equity Tier 1 ("CET1") capital ($mm) $19,687 $18,671 $18,156 Risk-weighted assets
Slide 5: Net Interest Income and Balance Sheet Trends
5 1,016 1,101 1,040 1,030 1,048 3Q23 4Q23 1Q24 2Q24 3Q24 3Q24 vs. 3Q24 2Q24 3Q23 Total assets $416 1% 5% Total interest-earning assets $357 1% 5% Cash and reverse repo 142 — 3 Loans 69 1 8 Investment securities 140 1 6 Noninterest-bearing $48 (2)% (9)% Interest-bearing 237 — 13 Total deposits $285 —
Slide 6: Securities Services
6 3Q24 vs. $mm, unless otherwise noted 3Q24 2Q24 3Q23 Asset Servicing $1,021 —% 5% Issuer Services 285 (11) 1 Total investment services fees $1,306 (3)% 4% Foreign exchange revenue 137 (5) 28 Other fees(a) 57 2 10 Investment and other revenue 105 N/M N/M Net interest income 609 2 2 Total revenue $2,
Slide 7: Market and Wealth Services
7 3Q24 vs. $mm, unless otherwise noted 3Q24 2Q24 3Q23 Pershing $475 —% (1)% Treasury Services 200 (1) 11 Clearance and Collateral Management 354 5 16 Total investment services fees $1,029 1% 7% Foreign exchange revenue 23 — 10 Other fees(a) 58 — 18 Investment and other revenue 20 N/M N/M Net interes
Slide 8: Investment and Wealth Management
8 3Q24 vs. $mm, unless otherwise noted 3Q24 2Q24 3Q23 Investment management fees $782 4% 5% Performance fees 13 N/M N/M Distribution and servicing fees 68 (1) 10 Other fees(a) (68) N/M N/M Investment and other revenue(b) 9 N/M N/M Net interest income 45 5 15 Total revenue $849 3% 2% Provision for cr
Slide 9: Other Segment
9 $mm, unless otherwise noted 3Q24 2Q24 3Q23 Fee revenue $(1) $(4) $6 Investment and other revenue 55 29 74 Net interest (expense) (21) (25) (24) Total revenue $33 $— $56 Provision for credit losses — 1 (13) Noninterest expense 37 15 24 (Loss) income before income taxes $(4) $(16) $45 Other Segment
Slide 10: Appendix
APPENDIX
Slide 11: Footnotes
11 Footnotes Page 4 – Capital and Liquidity (a) Regulatory capital and liquidity ratios for September 30, 2024 are preliminary. For our CET1 ratio, our effective capital ratios under the U.S. capital rules are the lower of the ratios as calculated under the Standardized and Advanced Approaches, whic
Slide 12: Reconciliation of Non-GAAP Measures – Impact of Notable Items
12 Select Income Statement Data Reconciliation of Non-GAAP Measures – Impact of Notable Items 3Q24 vs. $mm, except per share amounts 3Q24 2Q24 3Q23 2Q24 3Q23 Total revenue – GAAP $4,648 $4,597 $4,420 1% 5% Less: Disposal gain(a) — — 2 Adjusted total revenue, ex-notables — Non-GAAP $4,648 $4,597 $4,4
Slide 13: Reconciliation of Non-GAAP Measures – ROTCE
13 $mm 3Q24 2Q24 3Q23 Net income applicable to common shareholders of The Bank of New York Mellon Corporation – GAAP $1,110 $1,143 $958 Add: Amortization of intangible assets 12 13 15 Less: Tax impact of amortization of intangible assets 3 3 3 Adjusted net income applicable to common shareholders of
Slide 14: Forward-looking statements
14 A number of statements in our presentations, the accompanying slides and the responses to questions on our conference call discussing our quarterly results may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements
Slide 15: Slide 15
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