The Bank of New York Mellon Reports Q1 Results, Expected to Benefit From Rising Rates
<p><a href='https://financialmodelingprep.com/financial-summary/BK'>The Bank of New York Mellon Corporation (NYSE:BK) </a>reported its Q1 results, with EPS of $0.86 coming in slightly better than the street estimate of $0.85. Revenue was $3.9 billion, roughly in-line with the $3.97 billion estimate. </p>
<p>Analysts at RBC Capital provided their views on the company, stating that it will benefit from the expected rise in Federal Funds (FF) in 2022 as net interest income grows at double-digit rates of growth.</p>
<p>Additionally, the brokerage believes the company’s money market fee waivers should melt away in the expected rising rate environment. Market conditions will weigh on fee revenue growth in 2022. As a result, the brokerage believes the full benefit of rising interest rates will not reach the company's bottom line.</p>

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