Bank of New York Mellon Corp said its profit for the third quarter had climbed 11% helped in part from its sale of assets.

BNY Mellon net income reached $1.07 billion for the quarter equal to 93 cents per share from last year during the same quarter of $962 million equal 82 cents per share.

Excluding special items, the bank’s earnings were 64 cents per share, which beat the Wall Street estimate of 61 cents per share.

Gerald Hassell the CEO has sold assets and lowered costs to help offset the drag that was caused by interest rates remaining low on its investment income and revenue from securities lending.

Trian an activist investment firm that Nelson Peltz co-founded said last June that it had acquired a stake in BNY Mellon and wanted talks with the banks management.

BNY Mellon shares were up 0.1% on Friday morning. Prior to Friday, the shares were only up 3.5% in 2014, compared to a 5.6% decline in the SP index of 18 companies of custody banks and asset managers.

Custody banks maintain records, lend securities for institutional investors and track performance. BNY Mellon also manages investments for individuals and institutions.

The bank announced that its fees for asset servicing were up 6.1% from the same period one year ago to end the quarter at $1.03 billion. Performance and investment management fees were up 7.3% to end the quarter at $881 million.

BNY Mellon during the third quarter recorded it gained on the sale of its headquarters at 1 Wall Street to a Macklowe Properties joint venture for $585 million.

By making the relocation, bank officials set it would cuts use of its office space in New York.

BNY Mellon booked another gain in a sale of its share in Wing Hang Bank Ltd, a bank based in Hong Kong, which it announced back in May.

BNY Mellon like other institutions that are custody banks has been hurt from the low rates of interest, which cut its income from an investment portfolio, holds down revenue from its securities lending and forces the bank to waive its fees on its money market funds.

BNY Mellon’s interest margin, which is its spread the bank earns on loans compared to what it is paying out on borrowings. Expressed by a percentage, it fell 22 basis points for the third quarter to 94 basis points.

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