The company logo for Financial broker Charles Schwab is displayed at a location in the financial district in New York, U.S., March 20, 2023. REUTERS/Brendan McDermid/File Photoposted a smaller-than-expected drop in quarterly profit on Monday as strength in asset management fees softened the blow from a fall in its net interest revenue.
However, it is among various financial firms facing a drop in customer deposits as clients have been reallocating their cash to alternatives with better returns to make the most of a high-interest-rate environment.
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