Northern Trust sees custody earnings increase 27 October 2017Chacago Reporter: Jenna Lomax
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Northern Trust's custody and administration earnings have increased by 13 percent, from $299.4 million in Q3 2016 to $338.1 million last quarter.
This was mainly attributed to new business wins, as well as the favourable impact of movements in foreign exchange rates, and favourable equity markets.
Elsewhere, securities lending activities have remained much the same since Q3 2016.
Northern Trust's securities lending earnings saw just a 1 percent decrease compared to the same period in 2016.
Lending revenue hit $22.8 million last quarter, compared to $23.1 million in Q3 2016.
In its quarterly revenue report, Northern Trust blamed this slight drop on lower spreads and fee splits, although these were partially offset by increased loan volumes in the current quarter.
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