BlackRock reaps reward of higher spreads
24 October 2016 London
Image: Shutterstock
BlackRock’s securities lending revenue increased by $27 million in Q3 2016.
The firm surpassed the same period last year, achieving $142 million in total for the quarter.
According to BlackRock, the revenue boost was primarily the result of higher average balances of securities on loan and higher spreads.
Lending revenue was down $9 million, however, from Q2.
For total balance sheet assets, BlackRock recorded $184 billion worth of securities lending agreements, which was up from $182 billion from December 2015.
The firm surpassed the same period last year, achieving $142 million in total for the quarter.
According to BlackRock, the revenue boost was primarily the result of higher average balances of securities on loan and higher spreads.
Lending revenue was down $9 million, however, from Q2.
For total balance sheet assets, BlackRock recorded $184 billion worth of securities lending agreements, which was up from $182 billion from December 2015.
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