BNY Mellon profit rises 11 percent in third quarter

Reuters

BNY Mellon Corp said on Wednesday that third-quarter earnings had risen 11 percent, beating analysts' expectations, as the bank got a lift from rising fees for managing money and investment services.

Net income at the world's largest custody bank was $720 million, or 61 cents a share, compared with $651 million, or 53 cents a share, a year earlier.

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Analysts on average had expected the bank to earn 54 cents a share, according to Thomson Reuters I/B/E/S.