This will lead to a reduction in the bank’s revenues by $100 million in the first quarter of 2022.
The oldest bank in the USA – Bank of New York Mellon – has decided to suspend investments in Russian securities due to the situation around Ukraine. This is stated in a press release published on his website.
“BNY Mellon has stopped carrying out new banking operations in Russia, as well as suspended investments in Russian securities,” the document says.
It is noted that the refusal to purchase Russian securities will lead to a reduction in the bank’s revenues by $ 100 million in the first quarter of 2022. At the same time, the bank’s total revenue in the fourth quarter of 2021 amounted to $4 billion.
In addition, BNY Mellon will donate $1 million for humanitarian aid to Ukrainian refugees.