• April 21, 2016
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BNY Mellon reports first quarter earnings of $804 million or $0.73 per common share

• Earnings per common share up 9% year-over-year

GENERATED APPROXIMATELY 250 BASIS POINTS OF POSITIVE OPERATING LEVERAGE YEAROVER-YEAR ON AN ADJUSTED BASIS (a)
• Net interest revenue increased 5% and fee and other revenue decreased 1%
• Total noninterest expense decreased 3% on a reported and adjusted basis (a)

EXECUTING ON CAPITAL PLAN AND RETURN OF VALUE TO COMMON SHAREHOLDERS
• Repurchased 16.2 million common shares for $577 million
• Adjusted return on tangible common equity of 21% (a)
• Estimated SLR on a fully phased-in basis exceeded 5% (a)

New York -- The Bank of New York Mellon Corporation (“BNY Mellon”) (NYSE: BK) today reported first quarter net income applicable to common shareholders of $804 million, or $0.73 per diluted common share, compared with net income applicable to common shareholders of $766 million, or $0.67 per diluted common share in the first quarter of 2015. In the fourth quarter of 2015, net income applicable to common shareholders was $637 million, or $0.57 per diluted common share, or $755 million, or $0.68 per diluted common share, adjusted for the impairment charge related to a prior court decision, litigation and restructuring charges. (a)

“In challenging market conditions, we generated solid earnings growth as we executed on our strategic priorities. First quarter earnings per share grew by 9 percent year over year and we generated approximately 250 basis points of positive operating leverage while improving our operating margin to 31 percent,” Gerald L. Hassell, chairman and chief executive officer, said.

“We are intently focused on enhancing the client experience and driving further efficiencies. Our business improvement process has enabled funding for important strategic investments for regulatory compliance and risk management excellence, technology and servicing platform improvements, and the delivery of new solutions for our clients,” Mr. Hassell added.

“We are confident that we are on the right track to achieve our Investor Day targets, delivering value to our clients and our shareholders,” Mr. Hassell concluded.

Re-disseminated by The Asian Banker