State Street Corporation

Industry: Regional Banks

Fortune Rank: 249

For the nine months ended 30 September 2005, State Street Corp.'s interest income increased 65% to $2.07B. Net interest income after loan loss provision increased 4% to $665M. Net income from continuing operations increased 13% to $696M. Net interest income reflects higher interest earning asset balances, partially offset by higher interest expense. Earnings benefited from higher management fees, securities lending and trading services.

State Street Corporation is a financial holding company that provides an integrated range of products and services for sophisticated investors worldwide. The Company provides fund accounting, custody, investment management, securities lending, transfer agency services, hedge fund services and operations outsourcing for investment managers. It conducts its business principally through its subsidiary, State Street Bank and Trust Company (State Street Bank or the Bank). The Company has two lines of business: Investment Servicing and Investment Management. For the year ended December 31, 2004 (2004), 84% of State Street's total revenue comprised revenue from Investment Servicing. The remaining 16% comprised revenue from Investment Management. In 2004, the Company had $9.5 trillion of assets under custody and $1.35 trillion of assets under management. Its clients include mutual funds and other collective investment funds, corporate and public pension funds, and investment managers.

State Street Corporation

State Street Corporation achieved revenue of $9,362.00 million in 2010 but posted a loss of $-1,881.00 million.

State Street Corporation's rank changes

The company's ranking in 2010 was a decline from 2009 when it was ranked 206th on the Fortune 500. The Previous ranking was based on its 2009 revenue of $12,922 million (a change of -3 million compared to 2010) and profits of $1,811 million (a change of -2 million compared to 2010).

Another point of view

To many investors, profits are more important than revenue a company earns, If the Fortune 500 was ranked by profits instead of revenue then State Street Corporation would be ranked 482nd rather than 249th due to the fact it made a loss of $-1,881 million in 2010.

State Street Corporation Revenue* Profit* Fortune Ranking

* US$ Million

USPages Latest Business News At A Glance Business Shortcuts