Trust Updates Archive
(Dec. 12, 2007--Chicago, IL)--While credit problems crimped bank earnings, fiduciary revenue growth remained strong in the third quarter of 2007. Fiduciary asset growth was skewed to the larger institutions, but there were some notable exceptions.
In addition to asset growth, the third quarter saw a number of large mergers. The largest of these resulted in State Street regaining its long-held no. 1 position. State Street was toppled in 2006 by JPMorgan Chase.
Average asset growth in the first nine months of 2007 increased to 7 percent compared to 6 percent in the first half of the year.
For the same time periods, average income growth slowed to 8 percent, down by 2 percentage points . However, median income growth remained at 10 percent suggesting that over half of all institutions are still seeing income rise faster than assets. Median asset growth was 7 percent.
For more on this topic, see the current quarterly issue of Trust Performance Report.
(TPR is a sister publication of TRN. For more information on TPR 2007
go to http://www.trustupdates.com/TPR2007sample.pdf.)
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