Bank of New York Mellon Corp. on Thursday reported a 9.9% rise in second-quarter profit.
The New York City-based company's earnings per share were $1.13, up from $1.01 in the comparable quarter a year ago and a consensus of $1 taken from FactSet and based on 17 analysts forecasts.
Net income attributable to shareholders was $991 million, compared with $901 million a year ago.
The bank booked a provision benefit against credit losses of $86 million compared with a negative $143 million for the second quarter of 2020.
Net interest income fell to $645 million from $780 million. Its Common Equity Tier 1 ratio--a measure of financial of strength--was unchanged at 12.6%.
The bank's board approved a $6 billion stock-repurchase plan through to the fourth quarter of next year, the bank said, and its quarterly dividend increased by 10%, to 34 cents a share.