Northern Trust posted a net income of $642.9m for the third quarter of 2026, an increase of 40% compared with the $457.6m recorded during the corresponding period of 2025.
Diluted earnings per share reached $3.40, up from $2.29 a year prior, according to a company statement released today.
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Third-quarter earnings included pre-tax gains of $48.7m, translating to $36.8m after tax.
The disposal of the bank’s guardianship services business accounted for $34m of that sum, with the remaining $14.7m stemming from Northern Trust’s participation in Visa’s second exchange offer.
Total revenues increased 13% year-on-year to $2.3bn.
The Chicago-based group’s assets also expanded over the 12-month period from September 2025.
Total assets under management rose 11% to $1.963tn, while assets under custody grew 9% to $15.8tn.
The group’s common equity tier 1 ratio matched the prior-year level of 12.4% on a standardised basis.
In the wealth management segment, trust, investment and other servicing fees rose 9% to $611.5m. This was led by global family office fees, which climbed 16% to $117.2m, while private wealth fees increased 8% to $494.3m.
Northern Trust chairman and CEO Michael O’Grady said: “Northern Trust delivered strong third-quarter results, demonstrating continued progress against our One Northern Trust strategy.
“All three businesses delivered organic trust-fee growth, reflecting strong execution across the company. Market conditions continued to evolve but remained constructive overall. Our diversified business model positions us to perform across a range of environments. Our strong capital position enabled us to return more than $1.5 billion to common shareholders year to date. As we enter the final quarter of the year, we remain focused on supporting our clients, investing in growth and delivering sustainable long-term value to shareholders.”
Notably, earlier this month, UBS reached an agreement to extend its fund administration relationship with Northern Trust and transfer its former Credit Suisse fund administration businesses in Switzerland and Luxembourg.
