Northern Trust Corporation ( (NTRS) ) has released its Q3 earnings. Here is a breakdown of the information Northern Trust Corporation presented to its investors.
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Northern Trust Corporation is a leading provider of wealth management, asset servicing, asset management, and banking services to corporations, institutions, affluent families, and individuals, with a global presence and a history of over 135 years.
In its latest earnings report, Northern Trust Corporation announced a third-quarter net income of $457.6 million, with earnings per diluted common share of $2.29, reflecting a steady performance compared to previous quarters.
The company reported a 3% increase in total revenue compared to the same quarter last year, driven by growth in trust, investment, and other servicing fees, as well as net interest income. Trust fees saw a 6% increase, while net interest income rose by 5% year-over-year. The company also highlighted a strong return on average common equity of 14.8%.
Northern Trust’s assets under custody/administration grew by 5% from the previous year, reaching $18.2 trillion, while assets under management increased by 9% to $1.8 trillion, supported by favorable market conditions and net new business.
Looking ahead, Northern Trust remains focused on executing its strategic initiatives under the ‘One Northern Trust’ strategy, aiming to continue delivering value to its clients and shareholders as it closes out the year.