Bank of New York Mellon (BNY) Q3 2026 Earnings Report

The call was strongly positive. BNY reported broad-based double-digit revenue growth, higher earnings and profitability, 15 consecutive quarters of sales growth, strong segment performance, continued platform and AI deployment, and a raised full-year operating outlook. The main challenges were an uneven market backdrop, AUM outflows, seasonal deposit and net interest income declines, higher expenses, lower capital ratios and ongoing AI governance requirements, but these were outweighed by the company's reported momentum and improved guidance.

For full year 2026, BNY expects to generate nearly 500 basis points of positive operating leverage, with total revenue growth, excluding notable items, to land somewhere around the middle of a 12% to 13% range, market dependent, net interest income to be up 15% year-over-year, and expense growth, excluding notable items, somewhere around the middle of a 7% to 8% range; its central case assumes current market implied forward interest rates and that the operating environment remains broadly constructive, while deposits are expected to pick up into Q4 a little relative to Q3, roughly $5 billion of securities are rolling off per quarter, the medium-term outlook for Wealth Solutions is mid-single digits of net new assets, and the capital management philosophy remains a Tier 1 leverage ratio of 5.5% to 6%.