Bank of New York Mellon Corp., the world's biggest custodian of financial assets, revealed its decision to consider other acquisitions in Europe after agreeing to acquire BHF Asset Servicing GmbH in Germany.

The bank will scrutinize acquisition plans that arise in Europe even as the focus remains on organic growth, Michelle Grundmann, Managing Director and Frankfurt branch head at BNY Mellon, quoted in an interview today.

Germany's BHF Asset Servicing GmbH acquisition deal worth $343 million.

New York-based BNY Mellon agreed today to undergo a deal to acquire BHF Asset Servicing for worth 253 million Euros ($346 million) from BHF-Bank AG and Sal. Oppenheim Jr. & Cie.

The combined company will possess 473 billion Euros in assets under custody and administration in Germany and a depot banking volume of 120 billion Euros.

The deal is expected to conclude in the third quarter and will immediately add to the group's GAAP earnings per share.

The combined company foresees a surge in client numbers and volumes and posts its plans to widen its presence in Germany.