Percent sign. File photoWASHINGTON, Mar 18 Bank of New York Mellon Financial Corp. (BNY Mellon) announced on its website that it is suspending some operations in Russia amid the situation around Ukraine.
"BNY Mellon is halting new banking operations in Russia and is suspending investment activities in the purchase of Russian securities", the bank said in a statement.
According to BNY, government sanctions, as well as this decision, will affect the company's profit: in the first quarter it will be reduced by $ 100 million. The bank also announced that it would donate $1 million for humanitarian aid to Ukraine. Earlier, one of the largest investment banks in the world, JP Morgan Chase (USA) and the American banking and investment giant Goldman Sachs Group Inc, announced that they would stop operations in Russia. According to Bloomberg, Goldman Sachs will continue to trade in Russian-related corporate bonds. BNY Mellon is one of the world's leading asset management and securities services companies. The corporation was formed as a result of the merger of the oldest American bank Bank of New York and Mellon Financial Corporation on July 1, 2007. Many Russian companies with depositary receipt programs are BNY Mellon's clients.