(Bloomberg)-- Bank of New York Mellon Corp., the worlds largest custody bank, said fourth-quarter earnings fell 18% because of a loss related to an equity investment.
Net income declined to $513 million, or 44 cents per share, from $622 million, or 53 cents, a year earlier, the New York-based bank said today in a statement. Excluding the $115 million after-tax loss, BNY Mellon earned $628 million, or 54 cents a share, meeting the estimate of 12 analysts in a Bloomberg survey. The bank didnt provide additional details on the investment loss.
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