BNY lifts 2026 revenue forecast above estimates after quarterly beat

U.S. stocks rallied in the second quarter, with the S&P 500 and the Nasdaq posting their biggest gains since 2020 as investors looked past volatility sparked by renewed conflict in the Middle East and AI-related swings in technology stocks.

"It's an active period for markets, a lot of things going on," CEO Robin Vince told Reuters. "The fundamental drivers of capital markets have been broadly constructive. Corporate earnings have been resilient."

The custodian bank's net interest income (NII) — the spread between earnings from assets and costs on liabilities — surged 20% in the second quarter.

BNY's assets under custody and administration climbed 12% in the quarter to $62.6 trillion. Its assets under management increased 6% to $2.2 trillion.

Its total fee revenue jumped 11% to $4.04 billion in the three months ended June 30. BNY said the increase reflected net new business as well as higher market values and client activity.