STATE STREET CORP Annual Report, Year Ended Dec 31, 2024

State Street Corporation (STT) reported strong financial performance for the year ended December 31, 2024, with diluted Earnings Per Share (EPS) reaching $8.21, a significant increase from $5.58 in 2023. This improvement was driven by a 9% rise in total revenue, largely due to higher fee revenue and net interest income, coupled with a 1% decrease in total expenses. The company's investment servicing segment saw a 5% increase in total fee revenue, while investment management experienced a 13% uplift, primarily attributed to higher market levels and net inflows. State Street continued to return capital to shareholders, repurchasing $1.3 billion of common stock and declaring dividends totaling $859 million. The company's Assets Under Custody/Administration (AUC/A) grew by 11% to $46.56 trillion, and Assets Under Management (AUM) increased by 15% to $4.72 trillion, reflecting positive market trends and client flows. The company highlighted its ongoing efforts in operational efficiency and business model transformation, including the consolidation of its India joint venture. Despite a challenging regulatory and competitive environment, State Street maintained robust capital ratios, with its Common Equity Tier 1 (CET1) capital ratio at 10.9% and Tier 1 leverage ratio at 5.2% as of December 31, 2024, both remaining within or above target ranges. Management expressed confidence in continued strategic execution and financial stability.