Reported 5 months ago
Northern Trust, an asset and wealth manager, reported over a two-fold increase in second-quarter profit due to higher fee income and an accounting gain from a stock exchange deal with Visa. The company's profit surge was driven by a rise in assets under custody, with fees from managing and servicing client assets being the main revenue source. Additionally, increased net interest income, higher foreign exchange trading income, and favorable performance in various financial aspects contributed to the strong financial results.
Source: YAHOO