April 11 - BNY reported a 17% jump in

first-quarter profit on Friday as it managed higher assets under

custody that boosted its fee income.

The bank's fees, typically calculated as a percentage of

assets under custody, benefited from the acquisition of new

clients and heightened market volatility that led to investors

aggressively revamping their portfolios to cushion against the

impact.

Adjusted profit applicable to BNY shareholders stood at

$1.15 billion, or $1.58 per share, for the three months ended

March 31, compared with $982 million, or $1.25 per share in the

same period a year earlier.

"Looking ahead, we are prepared for a wide range of

macroeconomic and market scenarios as the outlook for the

operating environment is becoming more uncertain," said Robin

Vince, BNY President and CEO.

Its total fee revenue grew 3% year-on-year to $3.40 billion

in the reporting quarter.

Net interest income - the spread between earnings from

assets and expenditure from liabilities - rose 11% to $1.16

billion.

BNY's assets under custody and administration were $53.1

trillion in the first quarter, 9% higher than last year.