Bank of New York Co. said it has raised a performance estimate and will earmark $500 million for acquisitions this year.

Senior executives at the $63 billion-asset banking company told an annual meeting of Wall Street analysts last month that they have targeted average return on equity of 24% by 2001, compared with the goal of 23% for that year set in 1997.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.