BNY raises 2026 revenue forecast after strong second quarter results

BNY raised its 2026 revenue forecast to 10% to 11% after posting a second quarter that pushed revenue to a record $5.698 billion.

The Bank of New York Mellon posted diluted earnings per share of $2.45 on July 15, while adjusted earnings came to $2.46 a share. Revenue was up 13% from a year earlier and topped the $5.4 billion it posted in the first quarter, which had already been a record, as the firm continued to build on the first quarter of 2025, when revenue first crossed $5 billion. BNY also said pre-tax operating margin was 39.8%, return on equity was 17.2% and return on tangible common equity was 31.3%, even as noninterest expense rose to $3.439 billion.

Net interest income rose 20% in the quarter as higher rates and stronger business activity widened the spread between what BNY earns on assets and what it pays on liabilities. Fee revenue also benefited from rising equity markets, which lifted the value of client assets and increased the base on which custody and administration fees are calculated. Assets under custody and administration climbed 12% to $62.6 trillion, while assets under management held at $2.2 trillion, both records for the business.

The custody and administration increase reflected higher market values and net client inflows, partly offset by a stronger U.S. dollar. Client activity remained strong and corporate earnings were resilient during the quarter.

The company also returned $1.5 billion to shareholders in the period and raised its quarterly common dividend to $0.63 a share, payable August 7 to shareholders of record on July 27. The higher payout followed BNY’s June 12 plan to lift the dividend by 19% from the prior $0.53 rate.