BNY 2014 - estimated 2015 net income of $ 820 m , down 23 % YoY , but lower estimates . However , the bank stated that its cost - cutting process was hampered by a summertime financial crisis that forced it to compensate clients .
BNY Mellon - 3Q 2015 net income of $820m, down 23% YoY, but beating estimates. However, the bank stated that its cost-cutting drive was interrupted by a summertime software outage that forced it to compensate clients.