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Mar 31, 2022
Northern Trust Q1 2022 Earnings Report
Reported first quarter net income with revenue increase driven by trust, investment, and servicing fees, alongside net interest income growth.
Key Takeaways
Northern Trust Corporation reported a first-quarter net income of $389.3 million, with earnings per diluted common share at $1.77. Total revenue reached $1.7 billion, reflecting a 9% increase compared to the previous year. The growth was fueled by a 10% rise in trust, investment, and other servicing fees, and a 12% increase in net interest income.
Net income was $389.3 million, up from $375.1 million in the prior-year quarter.
Revenue increased by 9% year-over-year, driven by growth in trust, investment and servicing fees, and net interest income.
Return on average common equity was 14.2%.
Expense grew 8% compared to the prior year due to business growth, investment, and inflationary pressures.
Northern Trust
Northern Trust
Forward Guidance
This release may include statements which constitute “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.