The Bank of New York Mellon Corporation (NYSE:BK) reported first-quarter 2026 results that exceeded analyst expectations, supported by strong fee growth and higher net interest income.
The company posted adjusted earnings per share of $2.25, beating the consensus estimate of $1.93, while revenue reached a record $5.41 billion, above the $5.17 billion forecast and up 13% from $4.79 billion in the prior-year period.
Fee revenue increased 11% year over year to $3.77 billion, driven by higher client activity, net new business, elevated market levels, and foreign exchange revenue.
Net interest income rose 18% to $1.37 billion, reflecting reinvestment of securities at higher yields and balance sheet growth, partially offset by compression in deposit margins.
Adjusted EPS increased 42% from $1.58 in the prior year. The pre-tax operating margin improved to 37% from 32%, while return on tangible common equity reached 29.3%.
Assets under custody and administration rose 12% year over year to $59.4 trillion, and assets under management increased 6% to $2.1 trillion.
