The Bank of New York Mellon Corp, the world’s biggest custodian bank, reported about losses in Q1 2013. The bank lost $ 237 million during the reporting period. This is $0.23 per share. For comparison sake, in Q1 2012, the bank earned some $631 million or $0,52 per share.
The US authorities didn’t allowed the bank to make use of tax rebates, which resulted in a loss. The quarterly proceeds declined by 1% down to $3.613bn during the reporting period.
In Q4 2012, the Bank of New York Mellon saw its income shrink from $765 million down to $719 million.
At the same time, the asset volume under the bank’s management reached the record-high level of $1400bn, which is a 9% increase as compared to Q1 2012.
The chart below, courtesy of , reflects the current state of affairs in the market of BK. The stock is down by 3.3% today.
