LONDON (ShareCast) - (ShareCast News) - Bank of New York Mellon reported its final quarter earnings for 2016 on Thursday, with the company revealing its net income rose to $822m during the period.
Earnings per share for BNY Mellon was 77 cents, an increase in the net profit from the year before, which was $637m, or 57 cents per share.

The bank said that for the year in total during 2016, it registered a profit of $3.43bn, or $3.15 per share, an increase compared with the previous figures in 2015 of $3.05bn and $2.71 per share.

"We delivered strong fourth-quarter results, capping another year of solid execution against our three-year strategic plan," said chairman and chief executive officer Gerald Hassell.

"For full-year 2016, our earnings per share increased significantly as we delivered a strong return on capital. In the fourth quarter, we also generated substantial positive operating leverage, as the Investment Services business performed well and our business improvement process helped reduce structural costs."

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