BNY Mellon sees Q1 lending boost
20 April 2020 London
Image: Uthaipr/Shutterstock.com
BNY Mellon posted modest growth in its securities lending revenue for Q1, compared to the same period in 2019.
Revenue for the bank鈥檚 agency lending business, which sits under its investment services business, came in at $46 million for the first three months of the year, up 5 percent from $44 million reported in Q1 2019.
Securities lending revenue for Q1 was also up 15 percent from Q4 2019.
BNY Mellon鈥檚 agency lending business reported a market value of securities on-loan of $389 billion, up from $377 billion in Q1 2019 and $378 billion Q4 2019.
These on-loan figures do not include securities for which BNY Mellon acts as agent on behalf of CIBC Mellon clients, which represents $59 billion in Q1, down from $62 billion during the same period 2019.
Elsewhere, BNY Mellon鈥檚 clearance and collateral management business saw earnings increase 9 percent in Q1, compared to the equivalent period in the year prior.
Revenue for the past quarter hit $300 million, up from $276 million in Q1 2019 and $280 million in Q4 2019.
In its report, BNY Mellon says both increases primarily reflect growth in collateral management and clearance volumes and higher net interest revenue.
Revenue for the bank鈥檚 agency lending business, which sits under its investment services business, came in at $46 million for the first three months of the year, up 5 percent from $44 million reported in Q1 2019.
Securities lending revenue for Q1 was also up 15 percent from Q4 2019.
BNY Mellon鈥檚 agency lending business reported a market value of securities on-loan of $389 billion, up from $377 billion in Q1 2019 and $378 billion Q4 2019.
These on-loan figures do not include securities for which BNY Mellon acts as agent on behalf of CIBC Mellon clients, which represents $59 billion in Q1, down from $62 billion during the same period 2019.
Elsewhere, BNY Mellon鈥檚 clearance and collateral management business saw earnings increase 9 percent in Q1, compared to the equivalent period in the year prior.
Revenue for the past quarter hit $300 million, up from $276 million in Q1 2019 and $280 million in Q4 2019.
In its report, BNY Mellon says both increases primarily reflect growth in collateral management and clearance volumes and higher net interest revenue.
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