The two large custody banks grew assets under management, but falling U.S. interest rates continued to batter earnings and revenue. State Street profit slipped 4.8%, while BNY Mellon’s was down 9.3%.
The two large custody banks grew assets under management, but falling U.S. interest rates continued to batter earnings and revenue. State Street profit slipped 4.8%, while BNY Mellon’s was down 9.3%.