Deposits provide better-than-expected results at State Street americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.
Boston-based custody giant State Street benefitted from rising interest rates, which helped offset choppy financial markets and a decline in fee income.
The Boston company is forecasting larger earnings growth in the first year after closing its $3.5 billion deal than it projected in September. On the flip side, the acquisition will take longer to close than initially expected.