BNY Reports Third Quarter 2026
The Bank of New York Mellon Corporation (“BNY”) (NYSE: BNY) today has reported financial results for the third quarter of 2026.
CEO COMMENTARY BNY delivered strong results in the third quarter. With broad-based growth across our platforms, we increased revenue by 12% year-over-year, delivering significant operating leverage and earnings per share growth of 24%. For the quarter, we generated a very solid pre-tax margin of 39% and a strong ROTCE of 29%. Our performance in the quarter once again highlights the resilience and durability of our business model against the backdrop of an overall constructive but uneven operating environment. Client demand continued to grow, underpinned by our ongoing work to unlock the value inherent in the combination of BNY’s businesses enabled by our platform operating and commercial models. Sales and pipelines remained very healthy across products, client segments and regions and we launched several solutions during the quarter that are meeting emerging needs in the market. Looking ahead, our teams around the world are energized by BNY’s momentum and excited about the opportunities in front of us to create value for our clients and shareholders. –Robin Vince, Chief Executive Officer
Results • Total revenue of $5.7 billion, increased 12% • Noninterest expense of $3.5 billion, increased 8% • Diluted EPS of $2.34, increased 24% Profitability • Pre-tax operating margin of 38.5% • ROTCE of 29.0% (a) Balance sheet • Average deposits of $311 billion, increased 4% year-over- year and decreased 1% sequentially • Tier 1 leverage ratio of 5.7%, decreased 42 bps year-over-year and 24 bps sequentially Capital distribution • Returned $1.4 billion of capital to common shareholders • $436 million of dividends • $937 million of share repurchases • Total payout ratio of 86% year-to-date
(a) For information on the Non-GAAP measures, see “Explanation of GAAP and Non-GAAP financial measures” beginning on page9. Note: Above comparisons are 3Q26 vs. 3Q25, unless otherwise noted. Media:Anneliese Diedrichs + 1 646 Investors:Marius Merz +1 212 298 468 6026 1480
(a) Operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense.
(b) See “Explanation of GAAP and Non-GAAP financial measures” beginning on page 9for additional information.
• Fee revenue increased 12%, primarily reflecting net new business, higher client activity and higher market values, partially offset by the mix of AUM flows.
• Investment and other revenue decreased primarily reflecting the impact of fixed income and equity trading activity, seed capital results and the absence of a 3Q25 disposal gain, partially offset by other investment gains.
• Net interest income increased 15%, primarily reflecting the reinvestment of investment securities at higher yields and balance sheet growth, partially offset by deposit margin compression.
• Noninterest expense increased 8%, primarily reflecting higher revenue-related expenses and investments, partially offset by efficiency savings.
Assets under custody and/or administration (“AUC/A”) and Assets under management (“AUM”)
• AUC/A increased 10%, primarily reflecting higher market values, net client inflows and net new business, partially offset by the unfavorable impact of a stronger U.S. dollar.
• AUM increased 2%, primarily reflecting higher market values, partially offset by cumulative net outflows and the unfavorable impact of the stronger U.S. dollar.
• $436 million of dividends to common shareholders (a) ; $937 million of common share repurchases.
• Average liquidity coverage ratio (“LCR”) – 111%; Average net stable funding ratio (“NSFR”) – 129%.
(b) See “Explanation of GAAP and Non-GAAP financial measures” beginning on page 9for additional information.
(b) Included in investment services fees reported in the Asset Servicing line of business.
(c) Consists of AUC/A primarily from the Asset Servicing line of business and, to a lesser extent, the Issuer Services line of business. Includes the AUC/A of CIBC Mellon Trust Company (“CIBC Mellon”), a joint venture with the Canadian Imperial Bank of Commerce, of $2.3 trillion at Sept. 30, 2026, $2.2 trillion at June 30, 2026 and $2.1 trillion at Sept. 30, 2025.
(d) Represents the total amount of securities on loan in our agency securities lending program. Excludes securities for which BNY acts as agent on behalf of CIBC Mellon clients, which totaled $72 billion at Sept. 30, 2026, $71 billion at June 30, 2026 and $81 billion at Sept. 30, 2025.
• The drivers of the total revenue variances by line of business are indicated below.
• Asset Servicing – The year-over-year increase primarily reflects higher net interest income, client activity, net new business and market values. The sequential increase primarily reflects higher client activity, partially offset by lower foreign exchange revenue and net interest income.
• Issuer Services – The year-over-year increase primarily reflects higher Corporate Trust revenue. The sequential decrease reflects lower Depositary Receipts revenue, partially offset by higher Corporate Trust revenue.
• Noninterest expense increased year-over-year primarily reflecting higher revenue-related expenses and investments, partially offset by efficiency savings and lower severance expense. The sequential increase primarily reflects higher revenue-related expenses and investments.
(b) Consists of AUC/A from the Clearance and Collateral Management and Wealth Solutions lines of business.
• The drivers of the total revenue variances by line of business are indicated below.
• Wealth Solutions – The year-over-year increase primarily reflects higher net interest income, market values, client activity and net new business.
• Payments and Trade – The year-over-year increase primarily reflects higher net interest income and net new business. The sequential increase primarily reflects higher net new business.
• Clearance and Collateral Management – The year-over-year increase primarily reflects higher collateral balances and clearance volumes.
• Noninterest expense increased year-over-year primarily reflecting higher revenue-related expenses and investments, partially offset by efficiency savings. The sequential increase primarily reflects higher revenue-related expenses.
(b) Investment and other revenue and total fee and other revenue are net of income (loss) attributable to noncontrolling interests related to consolidated investment management funds.
(c) Represents assets managed in the Investment and Wealth Management business segment.
• The drivers of the total revenue variances by line of business are indicated below.
• Investment Management – The year-over-year increase primarily reflects higher market values, partially offset by the mix of AUM flows. The sequential decrease primarily reflects lower seed capital results.
• Wealth Management – The year-over-year and sequential increases primarily reflect higher net interest income and market values.
• Noninterest expense increased year-over-year primarily reflecting higher revenue-related expenses and investments, partially offset by efficiency savings. The sequential decrease primarily reflects lower revenue-related expenses.
The Other segment primarily includes corporate treasury activities, including our investment securities portfolio, derivatives and other trading activity, tax credit investments and other corporate investments, certain business exits and other corporate revenue and expense items.
• Total revenue includes corporate treasury and other investment activity, including hedging activity which has an offsetting impact between fee and other revenue and net interest expense. The year-over-year decrease primarily reflects the absence of 3Q25 gains realized on the sale of real estate, partially offset by a 3Q26 strategic equity investment gain. The sequential increase primarily reflects the strategic equity investment gain.
• Noninterest expense increased year-over-year primarily reflecting the absence of a 3Q25 adjustment for the FDIC special assessment and higher severance expense. The sequential decrease primarily reflects lower staff expense.
(a) Regulatory capital and liquidity ratios for Sept. 30, 2026 are preliminary. For our CET1, Tier 1 capital and Total capital ratios, our effective capital ratios under the U.S. capital rules are the lower of the ratios as calculated under the Standardized and Advanced Approaches, which for the periods presented, was the Standardized Approach.
(b) Tangible book value per common share – Non-GAAP excludes goodwill and intangible assets, net of deferred tax liabilities. See “Explanation of GAAP and Non-GAAP financial measures” beginning on page 9for information on this Non-GAAP measure.
• CET1 capital of $21.0 billion decreased compared with June 30, 2026, primarily reflecting capital returned through common stock repurchases and dividends and a decline in accumulated other comprehensive income, partially offset by capital generated through earnings. The CET1 ratio decreased compared with June 30, 2026, primarily reflecting the decrease in capital, partially offset by lower risk-weighted assets.
• Tier 1 capital of $25.2 billion decreased compared with June 30, 2026, primarily reflecting capital returned through common stock repurchases and dividends, a decline in accumulated other comprehensive income and a preferred stock redemption, net of an issuance, partially offset by capital generated through earnings. The Tier 1 leverage ratio decreased compared with June 30, 2026, primarily reflecting the decrease in capital.
(a) Net interest income (FTE) – Non-GAAP and net interest margin (FTE) – Non- GAAP include the tax equivalent adjustments on tax-exempt income. See “Explanation of GAAP and Non-GAAP financial measures” beginning on page 9for information on this Non-GAAP measure.
• Net interest income increased year-over-year primarily reflecting the reinvestment of investment securities at higher yields and balance sheet growth, partially offset by deposit margin compression.
• Sequentially, net interest income decreased primarily reflecting lower deposit balances, partially offset by the reinvestment of investment securities at higher yields.
BNY has included in this Earnings Release certain Non-GAAP financial measures on a tangible basis as a supplement to GAAP information, which exclude goodwill and intangible assets, net of deferred tax liabilities. We believe that the return on tangible common equity – Non-GAAP is additional useful information for investors because it presents a measure of those assets that can generate income, and the tangible book value per common share – Non-GAAP is additional useful information because it presents the level of tangible assets in relation to shares of common stock outstanding.
Net interest income, on a fully taxable equivalent (“FTE”) basis – Non-GAAP and net interest margin (FTE) – Non-GAAP and other FTE measures include the tax equivalent adjustments on tax-exempt income which allows for the comparison of amounts arising from both taxable and tax-exempt sources and is consistent with industry practice. The adjustment to an FTE basis has no impact on net income.
See “Explanation of GAAP and Non-GAAP Financial Measures” in the Financial Supplement available at www.bny.com for additional reconciliations of Non-GAAP measures.
BNY has also included revenue measures excluding notable items, including disposal gains. Expense measures, excluding notable items, including severance expense, litigation reserves and the FDIC special assessment are also presented. Litigation reserves represent accruals for loss contingencies that are both probable and reasonably estimable, but exclude standard business-related legal fees. Income before taxes, net income applicable to common shareholders of The Bank of New York Mellon Corporation, diluted earnings per share, operating leverage, return on common equity, return on tangible common equity and pre-tax operating margin, excluding the notable items mentioned above, are also provided. These measures are provided to permit investors to view the financial measures on a basis consistent with how management views the businesses.
(b) Severance expense is reflected in Staff expense, Litigation reserves in Other expense and FDIC special assessment in Bank assessment charges, respectively.
(c) Operating leverage is the rate of increase (decrease) in total revenue less the rate of increase (decrease) in total noninterest expense.
Return on common equity and return on tangible common equity reconciliation (dollars in millions) 3Q26 2Q26 3Q25 ────────────────────────────────────────────────────────────────────────────── Net income applicable to common shareholders of The $ 1,608 $ 1,696 $ 1,339 Bank of New York Mellon Corporation – GAAP Add: Amortization of 9 10 12 intangible assets Less: Tax impact of amortization of 2 3 3 intangible assets Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation, $ 1,615 $ 1,703 $ 1,348 excluding amortization of intangible assets – Non-GAAP Impact of notable -17 -7 -21 items(a) Adjusted net income applicable to common shareholders of The Bank of New York Mellon Corporation, $ 1,632 $ 1,710 $ 1,369 excluding amortization of intangible assets and notable items – Non-GAAP Average common $ 39,756 $ 39,535 $ 38,626 shareholders’ equity Less: Average goodwill 16,764 16,768 16,787 Average intangible 2,802 2,809 2,842 assets Add: Deferred tax liability – tax 1,225 1,225 1,236 deductible goodwill Deferred tax liability – intangible 657 659 665 assets Average tangible common shareholders’ $ 22,072 $ 21,842 $ 20,898 equity – Non-GAAP Return on common equity 16.0 % 17.2 % 13.7 % – GAAP(b) Adjusted return on common equity – 16.2 % 17.3 % 14.0 % Non-GAAP(b) Return on tangible common equity – 29.0 % 31.3 % 25.6 % Non-GAAP(b) Adjusted return on tangible common 29.3 % 31.4 % 26.0 % equity – Non-GAAP(b)
A number of statements in this Earnings Release and in our Financial Supplement may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about our strategic priorities, financial performance and financial targets. Preliminary business metrics and regulatory capital ratios are subject to change, possibly materially, as we complete our Quarterly Report on Form 10-Q for the quarter ended Sept. 30, 2026. Forward-looking statements are not guarantees of future results or occurrences, are inherently uncertain and are based upon current beliefs and expectations of future events, many of which are, by their nature, difficult to predict, outside of our control and subject to change.
By identifying these statements for you in this manner, we are alerting you to the possibility that our actual results may differ, possibly materially, from the anticipated results expressed or implied in these forward-looking statements as a result of a number of important factors, including the risk factors and other uncertainties set forth in our Annual Report on Form 10-K for the year ended Dec. 31, 2025 and our other filings with the Securities and Exchange Commission.
You should not place undue reliance on any forward-looking statement. All forward-looking statements speak only as of the date on which they were made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.
BNY is a global financial services platforms company at the heart of the world’s capital markets. For more than 240 years BNY has partnered alongside clients, using its expertise and platforms to help them operate more efficiently and accelerate growth. Today BNY serves over 90% of Fortune 100 companies and nearly all the top 100 banks globally. BNY supports governments in funding local projects and works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals. As of Sept. 30, 2026, BNY oversees $63.4 trillion in assets under custody and/or administration and $2.2 trillion in assets under management.
BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BNY). Headquartered in New York City, BNY has been named among Fortune’s World’s Most Admired Companies and Fast Company’s Best Workplaces for Innovators. Additional information is available on www.bny.com. Follow on LinkedIn or visit the BNY Newsroom for the latest company news.
Robin Vince, Chief Executive Officer, and Dermot McDonogh, Chief Financial Officer, will host a conference call and simultaneous live audio webcast at 11:00 a.m. ET on Oct. 15, 2026. This conference call and audio webcast will include forward-looking statements and may include other material information.
Investors and analysts wishing to access the conference call and audio webcast may do so by dialing +1 800 330-6730 (U.S.) or
+1 646 769-9500 (International), and using the passcode: 200200, or by logging onto www.bny.com/investorrelations . Earnings materials will be available at www.bny.com/investorrelations beginning at approximately 6:30 a.m. ET on Oct. 15, 2026.
An archived version of the third quarter conference call and audio webcast will be available beginning on Oct. 15, 2026 at approximately 3:00 p.m. ET through Nov. 14, 2026 at www.bny.com/investorrelations .
Full text with the tables
3Q26 FINANCIALRESULTS
BNY Reports Third Quarter 2026
Earnings Per Common Share of $2.34
NEW YORK, October 15, 2026 –
The Bank of New York Mellon Corporation (“BNY”) (NYSE: BNY) today has reported
financial results for the third quarter of 2026.
CEO COMMENTARY
BNY delivered strong results in the
third quarter. With broad-based
growth across our platforms, we
increased revenue by 12%
year-over-year, delivering
significant operating leverage and
earnings per share growth of 24%.
For the quarter, we generated a very
solid pre-tax margin of 39% and a
strong ROTCE of 29%.
Our performance in the quarter once
again highlights the resilience and
durability of our business model
against
the backdrop of an overall
constructive
but uneven operating environment.
Client demand continued to grow,
underpinned by our ongoing work to
unlock the value inherent in the
combination of BNY’s businesses
enabled
by our platform operating and
commercial
models. Sales and pipelines remained
very healthy across products, client
segments and regions and we launched
several solutions during the quarter
that are meeting emerging needs in
the
market.
Looking ahead, our teams around the
world are energized by BNY’s
momentum
and excited about the opportunities
in
front of us to create value for our
clients and shareholders.
–Robin Vince, Chief Executive
Officer
EPS Pre-tax margin ROE ROTCE
$2.34 39% 16% 29%(a)
KEY FINANCIAL
INFORMATION
(dollars in
millions, except per
share amounts and
unless otherwise
noted)
3Q26
Selected income 3Q26 vs.
statement data: 2Q26 3Q25
──────────────────────────────────────────────────────────────────────────────
Total fee revenue $ 4,078 1 % 12 %
Investment and other 175 N/M N/M
revenue
Net interest income 1,423 -2 % 15 %
Total revenue $ 5,676 — % 12 %
Provision for credit 1 N/M N/M
losses
Noninterest expense $ 3,489 1 % 8 %
Net income
applicable to common $ 1,608 -5 % 20 %
shareholders
Diluted EPS $ 2.34 -4 % 24 %
Selected metrics:
AUC/A(in trillions) $ 63.4 1 % 10 %
AUM(in trillions) $ 2.2 -2 % 2 %
Financial ratios: 3Q26 2Q26 3Q25
Pre-tax operating 38.5 % 39.8 % 36.4 %
margin
ROE 16.0 % 17.2 % 13.7 %
ROTCE(a) 29.0 % 31.3 % 25.6 %
Capital ratios:
Tier 1 leverage 5.7 % 5.9 % 6.1 %
ratio
CET1 ratio 10.9 % 11.0 % 11.7 %
HIGHLIGHTS
Results • Total revenue of $5.7
billion, increased 12% • Noninterest
expense of $3.5 billion, increased 8%
• Diluted EPS of $2.34, increased 24%
Profitability • Pre-tax operating
margin of 38.5% • ROTCE of 29.0% (a)
Balance sheet • Average deposits of
$311 billion, increased 4% year-over-
year and decreased 1% sequentially •
Tier 1 leverage ratio of 5.7%,
decreased 42 bps year-over-year and 24
bps sequentially Capital distribution
• Returned $1.4 billion of capital to
common shareholders • $436 million of
dividends • $937 million of share
repurchases • Total payout ratio of
86% year-to-date
(a) For information on the Non-GAAP
measures,
see “Explanation of GAAP and
Non-GAAP financial
measures” beginning on page9.
Note:
Above comparisons are 3Q26 vs.
3Q25, unless
otherwise noted.
Media:Anneliese Diedrichs + 1 646 Investors:Marius Merz +1 212 298
468 6026 1480
BNY3Q26Financial Results
CONSOLIDATED FINANCIAL HIGHLIGHTS
(…
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- vs.
N… 3Q… 2Q… 3Q… 2Q… 3Q…
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F… $ 4,… $ 4,… $ 3,… 1 % 12 %
r…
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a… 175 216 208 N/M N…
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a… 4,… 4,… 3,… — 11
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(a) Operating leverage is the rate of increase (decrease) in total revenue less
the rate of increase (decrease) in total noninterest expense.
(b) See “Explanation of GAAP and Non-GAAP financial measures” beginning on page
9for additional information.
bps
–
basis points.
KEY DRIVERS
(comparisons are 3Q26 vs. 3Q25, unless otherwise noted)
• Total revenue increased 12%, primarily reflecting:
• Fee revenue increased 12%, primarily reflecting net new business, higher
client activity and higher market values, partially offset by the mix of AUM
flows.
• Investment and other revenue decreased primarily reflecting the impact of
fixed income and equity trading activity, seed capital results and the absence
of a 3Q25 disposal gain, partially offset by other investment gains.
• Net interest income increased 15%, primarily reflecting the reinvestment of
investment securities at higher yields and balance sheet growth, partially
offset by deposit margin compression.
• Provision for credit losses was $1 million.
• Noninterest expense increased 8%, primarily reflecting higher revenue-related
expenses and investments, partially offset by efficiency savings.
• Effective tax rate of 22.8%.
Assets under custody and/or administration (“AUC/A”) and Assets under management
(“AUM”)
• AUC/A increased 10%, primarily reflecting higher market values, net client
inflows and net new business, partially offset by the unfavorable impact of a
stronger U.S. dollar.
• AUM increased 2%, primarily reflecting higher market values, partially offset
by cumulative net outflows and the unfavorable impact of the stronger U.S.
dollar.
Capital and liquidity
• $436 million of dividends to common shareholders (a) ; $937 million of common
share repurchases.
• Return on common equity (“ROE”) – 16.0%.
• Return on tangible common equity (“ROTCE”) – 29.0% (b) .
• Common Equity Tier 1 (“CET1”) ratio – 10.9%; Tier 1 leverage ratio – 5.7%.
• Average liquidity coverage ratio (“LCR”) – 111%; Average net stable funding
ratio (“NSFR”) – 129%.
• Total Loss Absorbing Capacity (“TLAC”) ratios exceed minimum requirements.
(a) Including dividend equivalents on share-based awards.
(b) See “Explanation of GAAP and Non-GAAP financial measures” beginning on page
9for additional information.
Note: Throughout this document, sequential growth rates are unannualized.
2
BNY3Q26Financial Results
SECURITIES SERVICES BUSINESS SEGMENT HIGHLIGHTS
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──────────────────────────────────────────────────────────────────────────────
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… 78 77 73 1 7
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… $ 92 $ 78 $ 62 18 % … %
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(a) Other fees primarily include financing-related fees.
(b) Included in investment services fees reported in the Asset Servicing line of
business.
(c) Consists of AUC/A primarily from the Asset Servicing line of business and,
to a lesser extent, the Issuer Services line of business. Includes the AUC/A of
CIBC Mellon Trust Company (“CIBC Mellon”), a joint venture with the Canadian
Imperial Bank of Commerce, of $2.3 trillion at Sept. 30, 2026, $2.2 trillion at
June 30, 2026 and $2.1 trillion at Sept. 30, 2025.
(d) Represents the total amount of securities on loan in our agency securities
lending program. Excludes securities for which BNY acts as agent on behalf of
CIBC Mellon clients, which totaled $72 billion at Sept. 30, 2026, $71 billion at
June 30, 2026 and $81 billion at Sept. 30, 2025.
KEY DRIVERS
• The drivers of the total revenue variances by line of business are indicated
below.
• Asset Servicing – The year-over-year increase primarily reflects higher net
interest income, client activity, net new business and market values. The
sequential increase primarily reflects higher client activity, partially offset
by lower foreign exchange revenue and net interest income.
• Issuer Services – The year-over-year increase primarily reflects higher
Corporate Trust revenue. The sequential decrease reflects lower Depositary
Receipts revenue, partially offset by higher Corporate Trust revenue.
• Noninterest expense increased year-over-year primarily reflecting higher
revenue-related expenses and investments, partially offset by efficiency savings
and lower severance expense. The sequential increase primarily reflects higher
revenue-related expenses and investments.
3
BNY3Q26Financial Results
MARKET AND WEALTH SERVICES BUSINESS SEGMENT HIGHLIGHTS
(…
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s… 3Q26
f… 3Q… 2Q… 3Q… 2Q… vs. 3Q…
──────────────────────────────────────────────────────────────────────────────
W… $ 554 $ 551 $ 520 1 % 7 %
S…
P…
a… 232 224 214 4 8
T…
C…
a… 464 453 398 2 17
C…
M…
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c…
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b… $ 1,… $ 1,… $ 870 — % 17 %
t…
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(…
p…
is
p…
(…
(a) Other fees primarily include financing-related fees.
(b) Consists of AUC/A from the Clearance and Collateral Management and Wealth
Solutions lines of business.
KEY DRIVERS
• The drivers of the total revenue variances by line of business are indicated
below.
• Wealth Solutions – The year-over-year increase primarily reflects higher net
interest income, market values, client activity and net new business.
• Payments and Trade – The year-over-year increase primarily reflects higher net
interest income and net new business. The sequential increase primarily reflects
higher net new business.
• Clearance and Collateral Management – The year-over-year increase primarily
reflects higher collateral balances and clearance volumes.
• Noninterest expense increased year-over-year primarily reflecting higher
revenue-related expenses and investments, partially offset by efficiency
savings. The sequential increase primarily reflects higher revenue-related
expenses.
4
BNY3Q26Financial Results
INVESTMENT AND WEALTH MANAGEMENT BUSINESS SEGMENT HIGHLIGHTS
…
3… 2… 3… 2… … …
──────────────────────────────────────────────────────────────────────────────
$ … $ … $ … 1 % 3 %
2 3 6 … N…
… … … 1 3
… … … -1 1
… … … … N…
… … … 1 2
8 … … … N…
… … … -1 2
… … … 9 …
… … … -1 4
… … — … N…
… … … -5 2
$ … $ … $ … 13 % … %
$ … $ … $ … -3 % 1 %
… … … 3 …
$ … $ … $ … -1 % 4 %
… % … % … %
$ … $ … $ … 3 % 5 %
$ … $ … $ … — % 5 %
$ … $ … $ … -2 % 2 %
$ … $ … $ … 2 % 2 %
(a) Other fees primarily include investment services fees.
(b) Investment and other revenue and total fee and other revenue are net of
income (loss) attributable to noncontrolling interests related to consolidated
investment management funds.
(c) Represents assets managed in the Investment and Wealth Management business
segment.
(d) Includes AUM and AUC/A in the Wealth Management line of business.
KEY DRIVERS
• The drivers of the total revenue variances by line of business are indicated
below.
• Investment Management – The year-over-year increase primarily reflects higher
market values, partially offset by the mix of AUM flows. The sequential decrease
primarily reflects lower seed capital results.
• Wealth Management – The year-over-year and sequential increases primarily
reflect higher net interest income and market values.
• Noninterest expense increased year-over-year primarily reflecting higher
revenue-related expenses and investments, partially offset by efficiency
savings. The sequential decrease primarily reflects lower revenue-related
expenses.
5
BNY3Q26Financial Results
OTHER SEGMENT
The Other segment primarily includes corporate treasury activities, including
our investment securities portfolio, derivatives and other trading activity, tax
credit investments and other corporate investments, certain business exits and
other corporate revenue and expense items.
(dollars in millions) 3Q26 2Q26 3Q25
───────────────────────────────────────────────────────────────────────────
Fee revenue $ -27 $ -29 $ -27
Investment and other revenue 53 36 45
Total fee and other revenue 26 7 18
Net interest income (expense) -8 -1 1
Total revenue 18 6 19
Provision for credit losses -1 4 -1
Noninterest expense 63 83 45
Loss before taxes $ -44 $ -81 $ -25
KEY DRIVERS
• Total revenue includes corporate treasury and other investment activity,
including hedging activity which has an offsetting impact between fee and other
revenue and net interest expense. The year-over-year decrease primarily reflects
the absence of 3Q25 gains realized on the sale of real estate, partially offset
by a 3Q26 strategic equity investment gain. The sequential increase primarily
reflects the strategic equity investment gain.
• Noninterest expense increased year-over-year primarily reflecting the absence
of a 3Q25 adjustment for the FDIC special assessment and higher severance
expense. The sequential decrease primarily reflects lower staff expense.
6
BNY3Q26Financial Results
CAPITAL AND LIQUIDITY
Capital
and
liquid… Sept. June 30, Dec. 31,
ratios 30, 2026 2026 2025
──────────────────────────────────────────────────────────────────────────────
Consol…
regula…
capital
ratios…
CET1 10.9 % 11.0 % 11.9 %
ratio
Tier 1
capital 13.1 13.4 14.6
ratio
Total
capital 13.8 14.2 15.4
ratio
Tier 1
levera… 5.7 5.9 6.0
ratio(…
Supple…
levera… 6.0 6.3 6.7
ratio(…
BNY
shareh…
equity
to 8.8 % 8.5 % 9.4 %
total
assets
ratio
BNY
common
shareh…
equity 8.0 % 7.6 % 8.4 %
to
total
assets
ratio
Average 111 % 111 % 112 %
LCR(a)
Average 129 % 130 % 130 %
NSFR(a)
Book
value
per $ 58.43 $ 58.82 $ 57.36
common
share
Tangib…
book
value
per $ 32.22 $ 32.81 $ 31.64
common
share –
Non-GA…
Common
shares 672,898 678,504 688,236
outsta…
thousa…
(a) Regulatory capital and liquidity ratios for Sept. 30, 2026 are preliminary.
For our CET1, Tier 1 capital and Total capital ratios, our effective capital
ratios under the U.S. capital rules are the lower of the ratios as calculated
under the Standardized and Advanced Approaches, which for the periods presented,
was the Standardized Approach.
(b) Tangible book value per common share – Non-GAAP excludes goodwill and
intangible assets, net of deferred tax liabilities. See “Explanation of GAAP and
Non-GAAP financial measures” beginning on page 9for information on this Non-GAAP
measure.
• CET1 capital of $21.0 billion decreased compared with June 30, 2026, primarily
reflecting capital returned through common stock repurchases and dividends and a
decline in accumulated other comprehensive income, partially offset by capital
generated through earnings. The CET1 ratio decreased compared with June 30,
2026, primarily reflecting the decrease in capital, partially offset by lower
risk-weighted assets.
• Tier 1 capital of $25.2 billion decreased compared with June 30, 2026,
primarily reflecting capital returned through common stock repurchases and
dividends, a decline in accumulated other comprehensive income and a preferred
stock redemption, net of an issuance, partially offset by capital generated
through earnings. The Tier 1 leverage ratio decreased compared with June 30,
2026, primarily reflecting the decrease in capital.
NET INTEREST INCOME
Net
in…
in…
(d…
in
mi…
not
me…
- 3Q…
N/… 3Q26 2Q26 3Q25 vs. 2Q26 3Q…
──────────────────────────────────────────────────────────────────────────────
Net
in… $ 1,… $ 1,… $ 1,… (2… 15%
in…
Ad…
Tax 1 — — N/M N/M
eq…
ad…
Net
in…
in…
on
a
fu… $ 1,… $ 1,… $ 1,… (2… 15%
ta…
eq…
(“…
ba…
–
No…
Av…
in… $ 39… $ 39… $ 37… —% 6%
as…
Net
in… 1.… % 1.… % 1.… % -2 bps 12 bps
ma…
Net
in…
ma… 1.… % 1.… % 1.… % -2 bps 12 bps
(F…
–
No…
(a) Net interest income (FTE) – Non-GAAP and net interest margin (FTE) – Non-
GAAP include the tax equivalent adjustments on tax-exempt income. See
“Explanation of GAAP and Non-GAAP financial measures” beginning on page 9for
information on this Non-GAAP measure.
bps – basis points.
• Net interest income increased year-over-year primarily reflecting the
reinvestment of investment securities at higher yields and balance sheet growth,
partially offset by deposit margin compression.
• Sequentially, net interest income decreased primarily reflecting lower deposit
balances, partially offset by the reinvestment of investment securities at
higher yields.
7
BNY3Q26Financial Results
THE BANK OF NEW YORK MELLON CORPORATION
Condensed Consolidated Income Statement
(… Se… Ju… Se… Se… Se…
in 30, Qu… 30, 30, 30, 30,
m… 20… en… 20… 20… 20… Ye… 20…
──────────────────────────────────────────────────────────────────────────────
F…
a…
o…
r…
I…
s… $ 2,… $ 2,… $ 2,… $ 8,… $ 7,5…
f…
I…
m…
a… 803 796 782 2,… 2,2…
p…
f…
F…
e… 198 229 166 659 535
r…
F… 66 64 67 192 178
f…
D…
a… 38 38 37 113 110
s…
f…
T…
f… 4,… 4,… 3,… 11… 10,…
r…
I…
a… 175 216 208 662 622
o…
r…
T…
f…
a… 4,… 4,… 3,… 12… 11,…
o…
r…
N…
i…
i…
I… 5,… 5,… 6,… 17… 19,…
i…
I… 4,… 4,… 5,… 13… 15,…
e…
N…
i… 1,… 1,… 1,… 4,… 3,5…
i…
T… 5,… 5,… 5,… 16… 14,…
r…
P…
f… 1 -8 -7 -14 -6
c…
l…
N…
e…
S… 1,… 1,… 1,… 5,… 5,3…
S…
a… 593 569 542 1,… 1,5…
e…
P…
l…
a… 474 441 404 1,… 1,1…
o…
p…
s…
S…
a… 168 162 141 481 422
c…
N… 141 143 140 407 408
o…
D…
a… 78 76 68 227 196
s…
B… 58 68 45 176 146
d…
B…
a… 27 32 6 83 66
c…
A…
of 9 10 12 28 34
i…
a…
O… 136 153 133 427 335
T…
n… 3,… 3,… 3,… 10… 9,6…
e…
I…
I…
b… 2,… 2,… 1,… 6,… 5,2…
t…
P…
f… 499 475 395 1,… 1,0…
i…
t…
N… 1,… 1,… 1,… 5,… 4,1…
i…
N…
(…
l…
a…
to
n…
i… 3 -31 -12 -26 -26
r…
to
c…
i…
m…
f…
N…
i…
a…
to
s…
of
T… 1,… 1,… 1,… 5,… 4,0…
B…
of
N…
Y…
M…
C…
P…
s… -82 -65 -1… -2… -209
d…
N…
i…
a…
to
c…
s…
of $ 1,… $ 1,… $ 1,… $ 4,… $ 3,8…
T…
B…
of
N…
Y…
M…
C…
E…
p…
s…
a…
to
t…
c…
s…
of
T…
B…
of
N…
Y… Se… Ju… Se… Se… Sep…
M… 30, Qu… 30, 30, 30, 30,
C… 20… en… 20… 20… 20… Ye… 2025
──────────────────────────────────────────────────────────────────────────────
(…
d…
B… $ 2.… $ 2.… $ 1.… $ 7.… $ 5.…
D… $ 2.… $ 2.… $ 1.… $ 7.… $ 5.…
8
BNY3Q26Financial Results
EXPLANATION OF GAAP AND NON-GAAP FINANCIAL MEASURES
BNY has included in this Earnings Release certain Non-GAAP financial measures on
a tangible basis as a supplement to GAAP information, which exclude goodwill and
intangible assets, net of deferred tax liabilities. We believe that the return
on tangible common equity – Non-GAAP is additional useful information for
investors because it presents a measure of those assets that can generate
income, and the tangible book value per common share – Non-GAAP is additional
useful information because it presents the level of tangible assets in relation
to shares of common stock outstanding.
Net interest income, on a fully taxable equivalent (“FTE”) basis – Non-GAAP and
net interest margin (FTE) – Non-GAAP and other FTE measures include the tax
equivalent adjustments on tax-exempt income which allows for the comparison of
amounts arising from both taxable and tax-exempt sources and is consistent with
industry practice. The adjustment to an FTE basis has no impact on net income.
See “Explanation of GAAP and Non-GAAP Financial Measures” in the Financial
Supplement available at www.bny.com for additional reconciliations of Non-GAAP
measures.
BNY has also included revenue measures excluding notable items, including
disposal gains. Expense measures, excluding notable items, including severance
expense, litigation reserves and the FDIC special assessment are also presented.
Litigation reserves represent accruals for loss contingencies that are both
probable and reasonably estimable, but exclude standard business-related legal
fees. Income before taxes, net income applicable to common shareholders of The
Bank of New York Mellon Corporation, diluted earnings per share, operating
leverage, return on common equity, return on tangible common equity and pre-tax
operating margin, excluding the notable items mentioned above, are also
provided. These measures are provided to permit investors to view the financial
measures on a basis consistent with how management views the businesses.
R…
of
N…
m…
e…
n…
i…
(…
in
m…
e…
p… 3Q…
s… vs.
a… 3Q… 2Q… 3Q… 2Q… 3…
──────────────────────────────────────────────────────────────────────────────
T…
r… $ 5,… $ 5,… $ 5,… — % 12 %
–
G…
L…
D… — — 12
g…
(…
A…
t…
r… $ 5,… $ 5,… $ 5,… — % 12 %
–
N…
T…
n…
e… $ 3,… $ 3,… $ 3,… 1 % 8 %
–
G…
L…
S… 23 6 50
e…
L… -1 2 3
r…
F…
s… — — -14
a…
A…
t…
n… $ 3,… $ 3,… $ 3,… 1 % 8 %
e…
–
N…
N…
i…
a…
to
c…
s…
of
T… $ 1,… $ 1,… $ 1,… (5… 20 %
B…
of
N…
Y…
M…
C…
–
G…
L…
D… — — 9
g…
(…
S… -18 -5 -39
e…
L… 1 -2 -2
r…
F…
s… — — 11
a…
A…
n…
i…
a…
to
c…
s…
of
T… $ 1,… $ 1,… $ 1,… (5… 19 %
B…
of
N…
Y…
M…
C…
–
N…
D…
e…
p…
c… $ 2.… $ 2.… $ 1.… (4… 24 %
s…
–
G…
L…
D… — — 0.…
g…
(…
S… -0… -0… -0…
e…
L… — — —
r…
F…
s… — — 0.…
a…
T…
d…
e…
p…
c… -0… -0… -0…
s…
i…
of
n…
i…
A…
d…
e…
p… $ 2.… $ 2.… $ 1.… (4… 24 %
c…
s…
–
N…
O…
l… -… bps 389 b…
–
G…
A…
o…
l… -… bps 353 b…
–
N…
(a) Reflected in Investment and other revenue.
(b) Severance expense is reflected in Staff expense, Litigation reserves in
Other expense and FDIC special assessment in Bank assessment charges,
respectively.
(c) Operating leverage is the rate of increase (decrease) in total revenue less
the rate of increase (decrease) in total noninterest expense.
bps - basis points.
9
BNY3Q26Financial Results
Pre-tax operating margin
reconciliation
(dollars in millions) 3Q26 2Q26 3Q25
──────────────────────────────────────────────────────────────────────────────
Income before taxes – GAAP $ 2,186 $ 2,267 $ 1,852
Less: Impact of notable -22 -8 -27
items(a)
Adjusted income before
taxes, excluding $ 2,208 $ 2,275 $ 1,879
notable items – Non-GAAP
Total revenue – GAAP $ 5,676 $ 5,698 $ 5,081
Impact of notable items(a) — — 12
Adjusted total revenue,
excluding $ 5,676 $ 5,698 $ 5,069
notable items – Non-GAAP
Pre-tax operating margin – 38.5 % 39.8 % 36.4 %
GAAP(b)
Adjusted pre-tax operating
margin – 38.9 % 39.9 % 37.1 %
Non-GAAP(b)
(a) See page 9for details of notable items and line items impacted.
(b) Income before taxes divided by total revenue.
Return on common equity
and return on tangible
common equity
reconciliation
(dollars in millions) 3Q26 2Q26 3Q25
──────────────────────────────────────────────────────────────────────────────
Net income applicable
to common
shareholders of The $ 1,608 $ 1,696 $ 1,339
Bank of New York
Mellon Corporation –
GAAP
Add: Amortization of 9 10 12
intangible assets
Less: Tax impact of
amortization of 2 3 3
intangible assets
Adjusted net income
applicable to common
shareholders of The
Bank of New York
Mellon Corporation, $ 1,615 $ 1,703 $ 1,348
excluding
amortization of
intangible assets –
Non-GAAP
Impact of notable -17 -7 -21
items(a)
Adjusted net income
applicable to common
shareholders of The
Bank of New York
Mellon Corporation, $ 1,632 $ 1,710 $ 1,369
excluding
amortization of
intangible assets and
notable items –
Non-GAAP
Average common $ 39,756 $ 39,535 $ 38,626
shareholders’ equity
Less: Average goodwill 16,764 16,768 16,787
Average intangible 2,802 2,809 2,842
assets
Add: Deferred tax
liability – tax 1,225 1,225 1,236
deductible goodwill
Deferred tax liability
– intangible 657 659 665
assets
Average tangible common
shareholders’ $ 22,072 $ 21,842 $ 20,898
equity – Non-GAAP
Return on common equity 16.0 % 17.2 % 13.7 %
– GAAP(b)
Adjusted return on
common equity – 16.2 % 17.3 % 14.0 %
Non-GAAP(b)
Return on tangible
common equity – 29.0 % 31.3 % 25.6 %
Non-GAAP(b)
Adjusted return on
tangible common 29.3 % 31.4 % 26.0 %
equity – Non-GAAP(b)
(a) See page 9for details of notable items and line items impacted.
(b) Returns are annualized.
CAUTIONARY STATEMENT ON FORWARD-LOOKING STATEMENTS
A number of statements in this Earnings Release and in our Financial Supplement
may constitute “forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements about our
strategic priorities, financial performance and financial targets. Preliminary
business metrics and regulatory capital ratios are subject to change, possibly
materially, as we complete our Quarterly Report on Form 10-Q for the quarter
ended Sept. 30, 2026. Forward-looking statements are not guarantees of future
results or occurrences, are inherently uncertain and are based upon current
beliefs and expectations of future events, many of which are, by their nature,
difficult to predict, outside of our control and subject to change.
By identifying these statements for you in this manner, we are alerting you to
the possibility that our actual results may differ, possibly materially, from
the anticipated results expressed or implied in these forward-looking statements
as a result of a number of important factors, including the risk factors and
other uncertainties set forth in our Annual Report on Form 10-K for the year
ended Dec. 31, 2025 and our other filings with the Securities and Exchange
Commission.
You should not place undue reliance on any forward-looking statement. All
forward-looking statements speak only as of the date on which they were made,
and we undertake no obligation to update any forward-looking statement to
reflect events or circumstances after such date or to reflect the occurrence of
unanticipated events.
10
BNY3Q26Financial Results
ABOUT BNY
BNY is a global financial services platforms company at the heart of the world’s
capital markets. For more than 240 years BNY has partnered alongside clients,
using its expertise and platforms to help them operate more efficiently and
accelerate growth. Today BNY serves over 90% of Fortune 100 companies and nearly
all the top 100 banks globally. BNY supports governments in funding local
projects and works with over 90% of the top 100 pension plans to safeguard
investments for millions of individuals. As of Sept. 30, 2026, BNY oversees
$63.4 trillion in assets under custody and/or administration and $2.2 trillion
in assets under management.
BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE:
BNY). Headquartered in New York City, BNY has been named among Fortune’s World’s
Most Admired Companies and Fast Company’s Best Workplaces for Innovators.
Additional information is available on www.bny.com. Follow on LinkedIn or visit
the BNY Newsroom for the latest company news.
CONFERENCE CALL INFORMATION
Robin Vince, Chief Executive Officer, and Dermot McDonogh, Chief Financial
Officer, will host a conference call and simultaneous live audio webcast at
11:00 a.m. ET on Oct. 15, 2026. This conference call and audio webcast will
include forward-looking statements and may include other material information.
Investors and analysts wishing to access the conference call and audio webcast
may do so by dialing +1 800 330-6730 (U.S.) or
+1 646 769-9500 (International), and using the passcode: 200200, or by logging
onto www.bny.com/investorrelations . Earnings materials will be available at
www.bny.com/investorrelations beginning at approximately 6:30 a.m. ET on Oct.
15, 2026.
An archived version of the third quarter conference call and audio webcast will
be available beginning on Oct. 15, 2026 at approximately 3:00 p.m. ET through
Nov. 14, 2026 at www.bny.com/investorrelations .
11