Bank of New York Mellon, the world’s largest custody bank, said first-quarter earnings fell 1 percent as revenue lost from the sale of a unit and lower foreign-exchange trading offset gains from rising assets.

Net income fell to $619 million, or 52 cents a share, from $625 million, or 50 cents, a year earlier, BNY Mellon said. Analysts had expected the company to report a profit of 51 cents a share.

BNY Mellon said revenue from foreign exchange trading, the subject of lawsuits against the bank, declined 21 percent from a year earlier.

Shares fell 3 percent to $23.08.