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State Street's profit rises 24 pct in 3rd quarter
October 23, 2017 / 11:03 AM / a month ago

State Street's profit rises 24 pct in 3rd quarter

Oct 23 (Reuters) - State Street Corp’s profit rose 24 percent in the third quarter, as the bank benefited from higher interest rates.

State Street said on Monday net income attributable to common shareholders rose to $629 million or $1.66 per share in the quarter ended Sept. 30, from $507 million or $1.29 per share, a year earlier.

Analysts on average had expected third-quarter earnings of $1.62 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the numbers were comparable.

Net interest revenue climbed 12.3 percent to $603 million. (Reporting By Aparajita Saxena in Bengaluru; Editing by Sai Sachin Ravikumar)

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