State Street (STT) Rides on Expansion Efforts Despite Cost Woes

State Street (STT) is poised for growth on the back of business servicing wins, synergies from strategic buyouts, a global footprint and high interest rates. However, persistently elevated expenses and a challenging operating backdrop that is likely to hamper fee income growth are major headwinds.State Street has witnessed a decent increase in net interest revenues (NIR) and net interest margin (NIM) on the back of higher interest rates. NIR recorded a three-year (ended 2023) compound annual growth rate (CA ...