Bank of New York Co.

Industry: Money Center Banks

Fortune Rank: 274

For the nine months ended 30 September 2005, The Bank of New York's interest income rose 44% to $2.4B. Net interest income after loan loss provision rose 29% to $1.41B. Net income for the period rose 7% to $1.17B. Net interest income reflects an increase in interest earning assets, partially offset by higher deposit costs. Higher net income was partially offset by higher salaries and employee benefits.

The Bank of New York Company, Inc. is engaged in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company's core competencies are securities servicing, treasury management, investment management, and individual and regional banking services. Its principal subsidiary is The Bank of New York. The Company's products and services include advisory and asset management services to support the investment decision; extensive trade execution, clearance and settlement capabilities; custody, securities lending, accounting and administrative services for investment portfolios, and sophisticated risk and performance measurement tools for analyzing portfolios. It also provides services for issuers of both equity and debt securities. The Company operates in four business segments: Servicing and Fiduciary, Corporate Banking, Retail Banking and Financial Markets.

Bank of New York Co.

Bank of New York Co. achieved revenue of $8,345.00 million in 2010 but posted a loss of $-1,084.00 million.

Bank of New York Co.'s rank changes

The company's ranking in 2010 was a decline from 2009 when it was ranked 156th on the Fortune 500. The Previous ranking was based on its 2009 revenue of $16,355 million (a change of -8 million compared to 2010) and profits of $1,419 million (a change of -2 million compared to 2010).

Another point of view

To many investors, profits are more important than revenue a company earns, If the Fortune 500 was ranked by profits instead of revenue then Bank of New York Co. would be ranked 463rd rather than 274th due to the fact it made a loss of $-1,084 million in 2010.

Bank of New York Co. Revenue* Profit* Fortune Ranking

* US$ Million

USPages Latest Business News At A Glance Business Shortcuts