BNY's First-Quarter 2025 Market, Wealth Services Income Rises

Tom Burroughes

17 April 2025

The market and wealth services business segment of BNY, the New York-headquartered group, said it logged pre-tax income in the first quarter of 2025 of $816 million, up 20 per cent on the same period a year earlier.

The market and wealth services business includes the Pershing business, which provides investment servicing and other services to wealth managers, family offices, and other financial institutions.

Total revenue stood at $1.686 billion in Q1 2025, rising 11 per cent on a year earlier, BNY said in a statement late last week.

Assets under custody/administration at the end of March were $14.7 trillion, rising 12 per cent.

In the securities services business segment, pre-tax income stood at $708 million, rising 20 per cent.

Across the whole of BNY, it had assets under management of $2 trillion, little changed on a year earlier. Diluted earnings were $1.58 per share in Q1 2025, rising 26 per cent, it said. The pre-tax operating margin was 32 per cent.

At the end of March, BNY had a Common Equity Tier 1 ratio of 11.5 per cent, up from 10.8 per cent a year earlier. The ratio is a standard international yardstick of a bank’s capital shock absorber. BNY returned $1.1 billion of capital to common shareholders through a mix of buybacks and dividend payments.

“Our work to operate BNY as a more platforms-oriented company, combined with our highly capitalized, liquid and lower credit risk balance sheet, positions us to manage dynamically and act as a source of strength as we support our clients in navigating the current environment,” Robin Vince, CEO, said in a statement.