BNY Raises 2026 Revenue Outlook as Third-Quarter Revenue Rises 12%

Shares of The Bank of New York Mellon Corporation (BNY) advanced about 3% on Oct. 15 as the bank raised its 2026 revenue outlook, with annual growth projected near the midpoint of a 12% to 13% range, depending on market conditions.

The revenue projection excludes notable items. BNY also expects net interest income to increase 15% for the full year and nearly 500 basis points of positive operating leverage, meaning revenue growth is expected to outpace expense growth. Chief Executive Robin Vince described the operating environment as “overall constructive but uneven.”

For the quarter ended Sept. 30, revenue reached $5.676 billion, 12% above the year-earlier period, while diluted earnings per share increased 24% to $2.34. BNY’s quarterly results also showed adjusted diluted EPS of $2.37, a measure that excludes notable items including $0.03 per share in severance expense.

Fee revenue grew 12% to $4.078 billion. Net interest income totaled $1.423 billion, 15% higher than a year earlier but 2% below the second quarter. Reinvestment of securities at higher yields and balance-sheet growth supported interest income, while deposit margin compression offset part of those gains.

Noninterest expenses reached $3.489 billion, up 8% year over year. The provision for credit losses was $1 million.

At Sept. 30, BNY’s preliminary figures showed $63.4 trillion in assets under custody and/or administration, a 10% increase from a year earlier, and $2.2 trillion in assets under management, up 2%. Higher market values, net client inflows and new business contributed to the increase in custody and administration assets. That measure covers client assets the bank safeguards and services; it does not mean BNY owns or manages the entire amount.

The quarterly results do not separate revenue from digital-asset custody. BNY announced an expansion of the service to select European Union institutions on Oct. 8 under the bloc’s Markets in Crypto-Assets Regulation, following its 2022 launch for select U.S. clients.