Strong Earnings Growth
Earnings per share of $1.93 were up 27% year over year on a reported basis and up 28% excluding notable items. Total revenue was up 9% year over year, exceeding $5 billion for the first time in a quarter.
Positive Operating Leverage
The company generated approximately 500 basis points of positive operating leverage on both reported and operating bases, with a pretax margin of 37% and return on tangible common equity of 28%.
Record Sales and Client Engagement
Achieved a second consecutive quarter of record sales. The number of multiproduct relationships continues to grow, exemplified by the expanded relationship with UK asset manager LionTrust.
Advancements in Digital Assets
The Bank of New York Mellon Corporation was selected as reserve custodian for Societe Generale's first USD stablecoin in Europe and as primary custodian of Ripple's US stablecoin reserves.
Robust Fee Revenue Growth
Fee revenue was up 7%, with significant growth in investment services fees driven by net new business, client activity, and higher market values.
Stable Capital and Liquidity Position
Tier 1 leverage ratio was 6.1%, and CET1 ratio was 11.5%. The company returned $1.2 billion of capital to shareholders, with a total payout ratio of 92% year to date.