State Street has posted a net income available to common shareholders of $584m for the second quarter of 2017, a marginal fall of 0.2% compared $585m a year ago.
The company’s quarterly revenue was $2.81bn, up 9.2% compared to $2.57bn in the second quarter of 2016.
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Net interest income increased 10.4% to $575m from $521m in the previous year.
The firm’s return on average common equity stood at 12.6%, versus 12.4% in the corresponding year ago period.
State Street’s assets under management stood $2.6 trillion as at 30 June 2017, a 13.3% rise compared to $2.3 trillion a year ago. Assets under custody and administration increased 11.7% year-on-year to $31 trillion.
State Street chairman and CEO Joseph Hooley said: “We are very pleased with our second-quarter results, delivering a record level of quarterly earnings per share that reflect continued strength in global equity markets as well as momentum in our asset servicing and asset management businesses.
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By GlobalData“We also for the first time exceeded $31 trillion in assets under custody and administration this quarter fueled by a combination of new business activity and higher equity markets.”
