Northern Trust announced net income per common share of $.67 for the third quarter, an increase of 29% from $.52 per share a year ago. Net income also increased 29% to $147.7 million, up from $114.7 million earned in the third quarter of last year.
The performance resulted in a return on average common equity of 16.83%.
Double digit revenue growth was driven by an increase in trust, investment and other servicing fees and net interest income.
Northern Trust achieved record assets under custody, which rose 22% to $2.8 trillion, and record assets under management, which increased 14% to $607 billion. Assets under custody include $1.18 trillion of global custody assets, an increase of 41% compared with a year ago.