BNY Mellon profit rises to $967 million
According to the Pittsburgh Business Times, the Bank of New York Mellon Corp. (BK) recorded a third-quarter profit of $967 million, or 82 cents a share, compared to $720 million, or 61 cents a share, in 3Q 2012. The paper has more:
BNY Mellon said its numbers benefited from the U.S. Tax Court’s partial reconsideration of a tax decision, without which it would have posted net income of $706 million, or 60 cents per share, for the three months ended Sept. 30.
BNY Mellon, based in New York and among the largest banks serving Pittsburgh, reported total revenue of $3.8 billion, down slightly from $3.7 billion in third-quarter 2012.