BNY39;s assets under custody and administration at over 50 trillion
Total fee revenue grows 9 to 3.51 billion
Adjusted profit beats expectations; shares up 4.1

Jan 15 Reuters BNY beat profit estimates for the fourth quarter on Wednesday as it earned higher investment services fees from its clients, sending its shares up 4.1 to 79.06 in premarket trading.

The bank39;s fees, typically calculated as a percentage of assets under custody, benefited from the acquisition of new clients, a market rally due to the Federal Reserve39;s interestrate cuts and U.S. Presidentelect Donald Trump39;s election win, which boosted their value.

Economic resilience and expectations of further reductions in borrowing costs prompted clients to keep up their investment activities, bolstering BNY39;s bottom line.

Its total fee revenue grew 9 to 3.51 billion in the reported quarter from a year earlier.

As we turn into the year, there is a little more uncertainty, CEO Robin Vince said in a call with reporters.

Net interest income the spread between earnings from assets and expenditure from liabilities rose 8 to 1.19 billion in the fourth quarter. Analysts had expected about a 5 drop in NII, according to estimates compiled by LSEG.

On an adjusted basis, the New Yorkbased custodian bank reported a profit of 1.72 per share for the three months ended Dec. 31, comfortably beating analysts39; expectation of 1.56 per share, according to data compiled by LSEG.

BNY39;s assets under custody and…