Bank of NY Mellon Posts Higher Operating Profits
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Bank of New York Mellon Corp , created this month from the merger of Bank of New York Co. and Mellon Financial Corp., on Thursday said rising fees from holding securities and processing trades helped boost operating profit at the former Bank of New York and Mellon.
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Fourth-quarter profit at the Bank of New York Mellon declined 68 percent because of its exposure to assets backed by mortgages and a strong quarter a year ago, when the bank gained $1.4 billion after unloading its retail operations.
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Bank of New York Mellon Corp  said on Thursday fourth-quarter profit fell 72 percent, reflecting a one-time gain a year earlier, and a write-down for collateralized debt obligations.
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Citigroup Inc. , the world&#039;s  largest bank by market value, on Monday said second-quarter  profit rose, helped by growth in corporate and investment  banking.
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Lehman Brothers Holdings Inc.  on Tuesday said quarterly profit rose 27 percent, beating expectations, on surging revenue from bond underwriting and stock trading.
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Bank of New York Mellon Corp  said on Thursday fourth-quarter profit fell, reflecting a one-time gain a year earlier.
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Goldman Sachs Group Inc.  on Thursday said fourth-quarter profit rose as its fixed-income, currency and commodities business soared while a rebounding stock market boosted investment banking.
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U.S. stocks climbed on Tuesday,  boosted by financial stocks after several banks, including Bank  of America Corp. BAC.N, posted higher fourth-quarter profits.
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Bank of New York Co. BK.N, which  operates the oldest U.S. bank, on Wednesday said third-quarter  profit rose 36 percent, helped by cost-cutting in what it  termed a weak capital markets environment.
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U.S. investment bank Morgan Stanley   on Wednesday said its second-quarter earnings more than  doubled, trouncing expectations amid strong increases in  underwriting and trading revenue.
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Morgan Stanley  on Wednesday said its second-quarter earnings rose 41 percent to a new record, beating expectations on higher trading and investment banking results.
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U.S. investment bank Lehman Brothers  Holdings Inc.  on Thursday said its fiscal  fourth-quarter profit rose 22 percent on increased income from  mergers, offerings and trading.
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Citigroup Inc. , the largest U.S. bank, said on Friday that strong international and investment banking growth fueled a higher-than-expected 18 percent increase in quarterly profit.
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TORONTO (CP) - Bank of Nova Scotia reported record annual profits Tuesday and raised its dividend after the bank benefited from solid gains in mortgage and consumer lending as well as international operations.
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The Bank of New York Mellon Corp.'s fourth-quarter profit tumbled 68 percent due to its exposure to assets backed by mortgages and a tough comparison to last year, when the bank sold its retail operations for about $1.4 billion.
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Bank of New York Co.  on Monday agreed to buy Mellon Financial Corp. , for $16.5 billion, combining two storied names in American finance to create a powerhouse in asset management and custody services for institutional investors.
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Morgan Stanley  on Wednesday  said its second-quarter earnings rose 41 percent to a new  record, beating expectations on higher trading and investment  banking results.