BNY (BK.N), opens new tab beat Wall Street’s expectations for second-quarter profit on Friday, as strong investment service fees more than offset lower interest income, sending the world’s largest custodian bank’s shares up more than 3% in premarket trading.
The bank’s assets under management climbed 7% to $2.05 trillion from a year earlier, as more investors aimed to gain from a rally in the U.S. markets, while assets under custody or administration rose 6% to $49.5 trillion.
Source: REUTER
