(Reuters) -BNY beat third-quarter profit estimates on Friday, boosted by higher investment services fees as assets under its custody and administration exceeded the $50 trillion mark for the first time.

BNY Mellon reported Q3 adjusted earnings per share of $1.52, beating estimates. Noninterest expense remained flat year-over-year, with efficiency savings offsetting higher investments and merit increases. The Bank Of New York Mellon Corporation BK shares are trading higher in the premarket session on Friday after its third-quarter results.

It took BNY Mellon 240 years to pass $50 trillion in assets under custody and administration, reaching 52.1 trillion as of September 30, according to it’s quarterly report out today, and by doing so became the first bank to do so.