Northern Trust sees securities lending revenue increase
23 January 2020 Chicago
Image: Shutterstock
Northern Trust saw a 4 percent increase in its securities lending revenue in Q4 2019, compared to the same period in the year prior.
Fee revenue from the bank’s agency lending business, which comes under the umbrella of its corporate and institutional services trust (C&IS trust) arm, hit $22.6 million in the last quarter of 2019, up from $21.7 million in Q4 2018 and $20.1 million in Q3 2019.
In its quarterly report, the bank says the revenue increase primarily reflects higher spreads over the quarter.
Overall, Northern Trust’s C&IS business brought in $992.2 million in Q4 2019, an increase of 2 percent from Q4 2018’s $933.9 million.
The bank’s assets under custody and administration ended 2019 at $12.1 trillion, up 19 percent from the prior year, while assets under management ended the year at $1.2 trillion, representing an increase of 15 percent from 2018.
Total fees from custody and fund administration were recorded at $396.9 million to Q4 2019, up 6 percent from the same period in 2018.
Custody and fund administration fees increased primarily due to favourable currency translation and markets, the bank says.
Fee revenue from the bank’s agency lending business, which comes under the umbrella of its corporate and institutional services trust (C&IS trust) arm, hit $22.6 million in the last quarter of 2019, up from $21.7 million in Q4 2018 and $20.1 million in Q3 2019.
In its quarterly report, the bank says the revenue increase primarily reflects higher spreads over the quarter.
Overall, Northern Trust’s C&IS business brought in $992.2 million in Q4 2019, an increase of 2 percent from Q4 2018’s $933.9 million.
The bank’s assets under custody and administration ended 2019 at $12.1 trillion, up 19 percent from the prior year, while assets under management ended the year at $1.2 trillion, representing an increase of 15 percent from 2018.
Total fees from custody and fund administration were recorded at $396.9 million to Q4 2019, up 6 percent from the same period in 2018.
Custody and fund administration fees increased primarily due to favourable currency translation and markets, the bank says.
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