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State Street in 1H17: Total Revenues, Total Expenses, and More

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State Street in 1H17: Total Revenues, Total Expenses, and More PART 1 OF 6

What Led to a Rise in State Street’s Total Fee Revenues?

Rise in management fees

State Street Corporation (STT) has seen a substantial rise in its total fee revenues in 1H17 compared to 1H16. In 1H16, the company reported total fee revenues of ~$4.0 billion and in 1H17, the company posted total fee revenues of ~$4.4 billion, which reflects an increase of 10%. This rise in the company’s total fee revenues was mainly due to its management fees.

What Led to a Rise in State Street’s Total Fee Revenues?

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State Street reported management fees of $563 million in 1H16 and $779 million in 1H17, reflecting an increase of 38%. However, the rise in securities finance revenues and total trading services revenues also contributed to the rise in the company’s total fee revenues.

In 1H16, State Street generated securities finance revenues of $290 million and in 1H17, the company generated securities finance revenues of $312 million, reflecting a rise of 8%. State Street generates trading services revenues from brokerage and other trading services and foreign exchange trading.

Compared to 1H16, the company saw a marginal rise of 5% in its total trading services revenues in 1H17. In 1H16, State Street garnered total trading services revenues of $539 million and in 1H17, the company generated total trading services revenues of $564 million.

Notably, State Street has witnessed a marginal rise of 6% in its service revenues in 1H17 compared to 1H16. In 1H17, the company posted service revenues of ~$2.6 billion compared to ~$2.5 billion in 1H16.

Efficiency ratios

State Street Corporation (STT) had an efficiency ratio of 72.3% on June 30, 2017. Its peers (XLF) had the following efficiency ratios on June 30, 2017:

  • Citigroup (C): 59.0%
  • Bank of America (BAC): 60.1%
  • JPMorgan Chase (JPM): 57.0%
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