US - Northern Trust posted strong earnings and dividends compared to 2006 despite global unease stemming from the sub-prime crisis and the credit crunch, its Q4 2007 financial results revealed.
In terms of full-year results, Northern Trust increased revenues by 9% to $726.9m, up from $665.4m last year. Net operating earnings per share increased 22% to $3.66 while overall net operating earnings 23% to $821.1m from $665.4m.
In 2007, Northern Trust saw double-digit growth in client assets. Year-on-year, assets under custody grew 17% to $4.1trn, global custody assets grew 23% to $2.1trn and assets under management grew 9% to $757.2bn.
Frederick H. Waddell, president and chief executive officer, said: "Our focused business model continued to generate excellent results in the fourth quarter amidst a challenging capital and credit market environment. We enter 2008 in excellent financial condition with a continued focus on serving the needs of personal and institutional clients."
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