News about NTRS

Northern Trust reported third-quarter net income of $642.9 million, up 40% year over year, driven by fee growth across all three business segments and a 14% rise in net interest income to $679.1 million. Assets under custody and administration reached $19.9 trillion, up 9%, and assets under management hit $1.96 trillion, up 11%. The company returned $514.2 million to shareholders in the quarter, including $352.3 million in buybacks and $161.9 million in dividends, with a Common Equity Tier 1 ratio of 12.4%. Risks include a $5 million reserve build tied to one commercial loan charge-off, a 5% sequential decline in asset servicing deposits to $95.8 billion, and a money market fund repricing that cut revenue by $2 million per month. For the fourth quarter, management guided to 8% to 9% net interest income growth and 6% to 7% revenue growth.