State Street sees Q4 lending revenue increase 24 January 2018Boston Reporter: Zsuzsa Szabo
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State Street earned securities finance revenue of $147 million in Q4 2017, compared to $136 million during the same period in 2016.
The securities finance revenue increased from Q4 2016 by 8 percent, thanks to a boost at the bank in enhanced custody.
State Street attributed an overall increase in revenue to higher client volumes from the agency and enhanced custody businesses, partially offset by spread compression.
Assets under custody and administration at State Street reached $33.12 trillion in Q4 2017, surpassing Q3 2017鈥檚 $32.11 trillion and Q4 2016鈥檚 $28.77 trillion.
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