Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
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Over 2021–2023 State Street’s balance sheet contracted modestly: total assets fell from $314,624m in 2021 to $297,258m in 2023 (down ~5.4% cumulatively, with -4.2% in 2022 and -1.4% in 2023). Liabilities tracked that decline (from $287,261m to $273,459m, down ~4.8% cumulative), while stockholders’ equity declined more steeply in percentage terms (from $27,363m to $23,799m, a cumulative drop of ~13.0%), suggesting earnings pressure, capital distributions, or other reductions to equity during that period. The equity-to-assets ratio slipped from ~8.7% in 2021 to ~8.0% in 2023. In 2024 there is a pronounced inflection: assets jumped to $353,240m (+18.9% vs. 2023) and liabilities rose in almost the same magnitude to $327,914m (+19.9%), while equity recovered modestly to $25,326m (+6.4%). Because asset growth far outpaced the equity increase, the equity/asset ratio fell further to ~7.2% in 2024—meaning the balance sheet is larger but relatively more leveraged than at the start of the period. Such a pattern is consistent with custodial/asset-servicing banks like State Street, where client flows, market valuations, and funding changes can drive large swings in assets and matching liabilities; the key takeaway is that 2024’s growth materially increased balance-sheet scale while only partially restoring the previously lost capital cushion. (The 2025 row shows zeros and appears to be missing/incomplete data.)
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.