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BlackRock profit drops 19% as Fink cites ‘crisis of confidence’ in banking sector

The world's largest asset manager saw net income drop to $1.16bn between January and March

Significantly lower markets and dollar appreciation weigh on BlackRock's results
Significantly lower markets and dollar appreciation weigh on BlackRock's results Photo: Getty Images

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BlackRock's profit fell nearly 20% in the first quarter, despite pulling in $110bn of new money and increasing its overall assets under management.

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