The Bank of New York Mellon Corporation Announces Consolidated Earnings Results for the Fourth Quarter and Year-to-Date Ended December 31, 2013; Declares Quarterly Common Stock Dividend, Payable on February 7, 2014
January 17, 2014 at 06:30 am EST
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The Bank of New York Mellon Corporation announced consolidated earnings results for the fourth quarter and year-to-date ended December 31, 2013. For the quarter, the company reported interest revenue of $846 million, net interest revenue of $761 million, income before income taxes of $711 million and net income applicable to common shareholders of the company of $513 million or $0.44 per diluted share compared to interest revenue of $843 million, net interest revenue of $725 million, income before income taxes of $853 million and net income applicable to common shareholders of the company of $622 million or $0.53 per diluted share. Return on common equity - GAAP was 5.7% against 7.1% and return on common equity excluding amortization of intangible assets and M&I, litigation and restructuring charges - Non-GAAP was 6.3% against 8.2% reported last year. Book value per common share was $31.48 against $30.39 and tangible book value per common share - Non-GAAP was $13.97 against $12.82 reported last year. Total revenue - GAAP was $3,594 million against $3,617 million a year ago. Net income applicable to common shareholders of The Bank of New York Mellon Corporation, non-GAAP was $628 million or $0.54 per diluted share.
For the year to date, the company reported interest revenue of $3,352 million, net interest revenue of $3,009 million, income before income taxes of $3,712 million and net income applicable to common shareholders of the company of $2,047 million or $1.74 per diluted share compared to interest revenue of $3,507 million, net interest revenue of $2,973 million, income before income taxes of $3,302 million and net income applicable to common shareholders of the company of $2,427 million or $2.03 per diluted share. Return on common equity - GAAP was 5.9% against 7.1% and return on common equity excluding amortization of intangible assets and M&I, litigation and restructuring charges - Non-GAAP was 8.3% against 8.8% reported last year. Total revenue - GAAP was $14,983 million against $14,555 million a year ago.
The bank has declared a quarterly common stock dividend of $0.15 per common share. This cash dividend is payable on February 7, 2014 to shareholders of record as of the close of business on January 31, 2014.
The Bank of New York Mellon Corporation specializes in asset management and services related to securities. The group offers asset and property management, security conservation and issuance, and cash management services to institutions, businesses, and individuals.
At the end of 2023, The Bank of New York Mellon Corporation had USD 47,800 billion in assets under custody and under administration and USD 1,974billion in assets under management.
The Bank of New York Mellon Corporation Announces Consolidated Earnings Results for the Fourth Quarter and Year-to-Date Ended December 31, 2013; Declares Quarterly Common Stock Dividend, Payable on February 7, 2014