OREANDA-NEWS. The Bank of New York Mellon Corporation (“BNY Mellon”) (NYSE: BK) today reported fourth quarter net income applicable to common shareholders of $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 recent court decision, litigation and restructuring charges. In the fourth quarter of 2014, net income applicable to common shareholders was $209 million, or $0.18 per diluted common share, or $667 million, or $0.58 per diluted common share, adjusted for litigation and restructuring charges, offset by the benefit primarily related to a tax carryback claim. In the third quarter of 2015, net income applicable to common shareholders was $820 million, or $0.74 per diluted common share.
“Our results in 2015 demonstrated that our strategic plan has positioned us well to perform in all operating environments. Even with geopolitical instability, emerging market weakness, higher regulatory' compliance requirements and low interest rates, we executed on our strategic priorities and focused on w hat was within our control. For full-year 2015, our earnings per share increased by 19 percent on an adjusted basis as we generated more than 400 basis points of positive operating leverage and achieved a return on tangible common equity of 21 percent. Importantly, we are on track to achieve our three-year goals,” Gerald L. Hassell, chairman and chief executive officer, said, (b)
“In the fourth quarter, we also generated strong positive operating leverage, mainly through our intense focus on our business improvement process, which is creating operating efficiencies for our clients and savings for our shareholders. As we look ahead to 2016, enhancing the client experience continues to be a priority, as we seek to strengthen service quality and productivity by leveraging our investments in industry-leading technologies,” Mr. Hassell added.
“Our focus remains on relentlessly delivering value-added solutions, investment excellence and actionable, data-driven insights to our clients and strong returns to our shareholders. I want to thank our clients for their partnership and confidence in us as well as all our team members around the world for rising to the occasion to meet the heightened expectations of ourselves, our clients and our shareholders,” Mr. Hassell concluded.
In 2015, net income applicable to common shareholders totaled $3.1 billion, or $2.71 per diluted common share, or $3.2 billion, or $2.85 per diluted common share, adjusted for the impairment charge related to a recent court decision, litigation and restructuring charges. In 2014, net income applicable to common shareholders totaled $2.5 billion, or $2.15 per diluted common share, or $2.8 billion, or $2.39 per diluted common share, adjusted for litigation and restructuring charges, the charge related to investment management funds, net of incentives, the gains on the sales of our investment in Wing Hang Bank and the One W'all Street building, and the benefit primarily related to a tax carryback claim.