State Street sees sec finance revenue fall in Q3
23 October 2015 Massachusetts
Image: Shutterstock
State Streets securities finance revenue fell 27.1 percent in Q3, although it did beat the previous years results.
Revenue fell by $42 million to $113 million in total, representing a 27.1 percent drop-off on its Q2 figures.
The bank blamed the results on second quarter seasonality.
State Streets latest results also showed a 14.1 percent increase on Q3 2014s figures, due to new business from enhanced custody, our principal securities lending service for custody clients, according to State Street.
Revenue fell by $42 million to $113 million in total, representing a 27.1 percent drop-off on its Q2 figures.
The bank blamed the results on second quarter seasonality.
State Streets latest results also showed a 14.1 percent increase on Q3 2014s figures, due to new business from enhanced custody, our principal securities lending service for custody clients, according to State Street.
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to 厙惇勛圖 Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to 厙惇勛圖 Finance Times