State Street fourth quarter profit up 24 percent

BOSTON (Bloomberg) — State Street Corp.’s fourth- quarter profit rose 24 percent on increased fee revenue from managing money and processing stock, bond and currency trades. Net income rose to $148.2 million, or 90 cents a share, from profit from operations of $119 million, or 73 cents, in the fourth quarter of 1999. Total revenue rose 9 percent to $894 million. The company said adjusted for the creation of CitiStreet, a joint venture between Citigroup Inc. and State Street Corp., revenue rose 15 percent.