BNY Mellon Profit Rises 79% as Stock-Market Rally Boosts Assets

BNY Mellon Profit Rises 79% as Stock-Market Rally Boosts Assets

Guy Calaf/Bloomberg

BNY Mellon has struggled to boost profits over the past two years as near-zero interest rates have held down revenues from securities lending, cut yields on its investment portfolio and forced it to waive fees on money funds.