Bank of New York Mellon on Tuesday reported a Q3 net loss after a charge to restructure its investment portfolio, but earnings excluding one-time items topped expectations and its shares climbed almost 3%, reports Reuters. The world’s largest trust bank took a $4.8bn pretax charge to restructure its investment securities portfolio and said it lost a net $2.5bn in the quarter, compared with earnings of $303m a year earlier.

This entry was posted by Gwen Robinson on Wednesday, October 21st, 2009 at 4:47 and is filed under Capital markets. Tagged with Bank of New York Mellon. Edit this entry.