The Bank of New York Mellon Cor (BNY) 10-K Summary — Year Ended Dec 31, 2023
The Bank of New York Mellon Corporation filed its annual report, detailing its financial performance and risk factors. The company reported an increase in revenue compared to the prior period, with net income and operating cash flow also disclosed.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
The Bank of New York Mellon Corporation filed its annual report, detailing its financial performance and risk factors. The company reported an increase in revenue compared to the prior period, with net income and operating cash flow also disclosed.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$17.7B
Revenue reported for the fiscal year.
Operating income
n/a
Income from operations reported for the year.
Net income
$3.3B
Net income reported for the year.
Operating cash flow
$5.9B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $15.9B | n/a |
| Dec 31, 2022 | $16.5B | +3.8% |
| Dec 31, 2023 | $17.7B | +7.1% |
Business overview
The company operates as a financial services institution, providing services such as custody, asset servicing, and treasury management. Its business is subject to extensive government regulation and supervision that impacts its operations.
Financial performance
Revenue increased compared to the prior year, while net income and operating cash flow were reported at specific levels. The trend shows revenue growth over the most recent three reported periods.
Material risks
Operational errors or delays, including those by third parties, could materially harm the business, financial condition, and reputation. Ineffective risk management models or processes may lead to unexpected losses. Cybersecurity incidents or technology failures could result in information loss, unauthorized access, or service disruptions.
Liquidity and capital
The filing does not provide specific details on liquidity or capital allocation strategies beyond the reported operating cash flow.
What to watch
Monitor any changes in regulatory policies that could compel the company to alter how it manages its businesses.