State Street reports fee revenue growth of 17%

• Total fee revenue rose 17% year-over-year to reach $3.19 billion.
• Shareholders will receive a 10% dividend increase to $0.92 per share.
• Assets under custody climbed to a record $57.9 trillion.

State Street (NYSE:STT) reported a 17% year-over-year increase in total fee revenue to $3.19 billion, supported by growth in both servicing and management fees.

This revenue growth represents a significant rise compared to previous periods, driven primarily by a 13% increase in servicing fees to $1.47 billion and a 29% jump in management fees to $772 million.

The company achieved record levels for its client assets, as Assets under Custody/Administration rose 18% to $57.9 trillion and Assets under Management grew 23% to $6.3 trillion.

The company returned $631 million to shareholders through $400 million in share repurchases and $231 million in dividends.

State Street continues to prioritize its core business of providing financial services, investment management, and data analysis to institutional investors globally.

The firm’s recent strategy has focused on expanding its fee-based income streams while maintaining stable net interest margins through disciplined capital management.