BNY Mellon's fourth-quarter profit shows modest gain

Fri Jan 17, 2014 6:37am EST

Jan 17 (Reuters) - BNY Mellon Corp said on Friday that its fourth-quarter profit rose slightly as investment services fees increased 5 percent amid a buoyant stock market.

Excluding one-time items, the world's largest custody bank earned $628 million, or 54 cents a share, compared with $622 million, or 53 cents a share, a year earlier.