Salem Radio Network News Monday, August 3, 2020

Business

BNY Mellon profit surges 67% on one-time gain

(Reuters) – Bank of New York Mellon Corp <BK.N> posted a 67% jump in quarterly profit on Thursday, helped by a one-time gain from the sale of an equity investment.

The bank said net income applicable to common shareholders rose to $1.39 billion, or $1.52 per share, in the fourth quarter ended Dec. 31, from $832 million, or 84 cents per share, a year earlier. (https://reut.rs/36YH8Jb)

(Reporting by Bharath Manjesh in Bengaluru; Editing by Sriraj Kalluvila)

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