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Financials

BNY Mellon reports 14 pct rise in second-quarter profit

July 19 (Reuters) - Bank of New York Mellon Corp reported a 14 percent rise in second-quarter profit on Thursday, helped by higher fee revenue and lower income tax provision.

The world’s largest custodian bank said net income applicable to common shareholders rose to $1.06 billion, or $1.03 per share, in the quarter ended June 30 from $926 million, or 88 cents per share, a year earlier.

Total revenue rose 4.6 percent to $4.14 billion. (Reporting by Diptendu Lahiri in Bengaluru; Editing by Maju Samuel)

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