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Funds News

State Street profit falls 23.7% on lower fees

Oct 18 (Reuters) - Custodian bank State Street Corp posted a 23.7% fall in third-quarter profit on Friday, as it earned less from asset servicing and management fees.

Net income fell to $583 million, or $1.42 per share, in the quarter ended Sept. 30 from $764 million, or $1.87 per share, a year earlier. (reut.rs/2BpbF4I)

Total revenue fell 2.9% to $2.9 billion. (Reporting by Bharath Manjesh in Bengaluru; Editing by Aditya Soni )

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