Chicago, Illinois-based Northern Trust Corporation (NTRS) operates as a holding company, providing wealth management, asset servicing, asset management, and banking solutions for organizations, families, and individuals worldwide. With a market cap of $26 billion, the company operates through Asset Servicing and Wealth Management segments. Companies worth $10 billion or more are generally described as “large-cap stocks.” Northern Trust fits right into that category, with its market cap exceeding this thr ...

CHICAGO, LONDON & MELBOURNE--(BUSINESS WIRE)-- #assetmanagement--Northern Trust announced more than 100 asset servicing mandates across key global markets in 2025, representing more than US$385 billion in assets. ...

Core Insights - Crédit Agricole S.A. reported strong financial results for Q3 2025, with net income group share increasing by 10.2% year-on-year to €1,836 million, driven by high revenues and a controlled cost of risk [32][40][44] - The group achieved revenues of €9,731 million in Q3 2025, reflecting a 5.6% increase compared to Q3 2024, with a gross operating income of €3,944 million, up 8.9% [18][33] - The cost/income ratio improved to 59.5%, down 1.2 percentage points from the previous year, indicating better operational efficiency [18][35] Financial Performance - For Q3 2025, Crédit Agricole S.A. reported revenues of €6,850 million, a 5.6% increase from Q3 2024, with operating expenses rising by 4.0% to €3,837 million [33][34] - The gross operating income for the quarter was €3,013 million, up 7.7% year-on-year, while the cost of risk increased by 13.0% to €489 million [35][37] - In the first nine months of 2025, net income group share reached €7,120 million, a 9.7% increase compared to the same period in 2024 [21][40] Business Lines and Activity - The group experienced sustained activity across all business lines, with significant growth in home loans (+18% year-on-year) and corporate loans (+14% year-on-year) [7][10] - Asset management saw record inflows of €15 billion in Q3 2025, contributing to a total of €2,317 billion in assets under management [11][52] - The insurance segment reported strong performance, with revenues reaching €11.8 billion, up 21.4% compared to Q3 2024 [46][62] Customer Growth and Market Position - Crédit Agricole Group gained 522,000 new customers in Retail Banking during Q3 2025, with total on-balance sheet deposits amounting to €835 billion, reflecting a 0.6% year-on-year increase [10][27] - The group maintained a strong market share in credit, standing at 22.6% as of June 2025, with buoyant loan production driven by home loans and specialized markets [27][10] Risk Management and Solvency - The phased-in CET1 ratio for Crédit Agricole S.A. was reported at 11.7%, while the group’s CET1 ratio stood at 17.6%, indicating strong solvency [3] - The cost of risk for the group was stable at 27 basis points over a rolling four-quarter period, reflecting prudent risk management practices [19][24]

Core Insights - Northern Trust Corporation (NTRS) shares have increased by 18% over the past six months, outperforming the industry which declined by 4.3% [1] - The company's performance is supported by steady organic growth, improving return on equity, manageable debt levels, and impressive capital distribution activities [5][7][9][10] Performance Analysis - NTRS has shown consistent revenue growth with a compound annual growth rate (CAGR) of 7.8% from 2020 to 2024, and net interest income (NII) and non-interest income have continued to grow in the first quarter of 2025 [5] - The loan and lease balance also experienced a CAGR of 6.7% over the last four years, although a reversal was noted in the first quarter of 2025 [6] - The return on equity (ROE) reached 13% in the first quarter of 2025, aligning with the company's long-term target of maintaining ROE between 10% and 15% [7] Financial Health - As of March 31, 2025, Northern Trust held $52 billion in Federal Reserve and Central bank deposits against $12 billion in total debt, indicating a strong liquidity position [9] - The company has a capital distribution strategy that includes a share repurchase program and quarterly dividends, with a current dividend yield of 2.7% [10][11][12] Market Position - NTRS is currently trading at a forward 12-month price-to-earnings (P/E) multiple of 13.2X, which is above the industry average of 10.7X and higher than peers M&T Bank and Fifth Third Bancorp [16] - Analysts have revised earnings estimates for 2025 and 2026 upward, reflecting positive sentiment and encouraging prospects for the company [15] Investment Consideration - Given the premium valuation of NTRS, it is suggested that investors wait for a better entry point to optimize returns, while those who already own the stock may consider holding it for long-term growth [19]

Summary of Northern Trust (NTRS) 2025 Conference Call Company Overview - **Company**: Northern Trust (NTRS) - **Event**: 2025 Conference Call - **Date**: June 10, 2025 Key Points Strategic Priorities and Organizational Changes - Theresa Parker, President of Asset Servicing, emphasized the importance of client service as a differentiator and the focus on driving profitable growth through new client acquisition and existing client retention [6][9][16] - The organization is undergoing changes aimed at enhancing resiliency and productivity in service delivery [6][7] - The focus is on leveraging new technologies, including AI and digital solutions, to improve operational efficiency [9][27][55] Profitability and Growth Opportunities - Northern Trust is targeting profitable growth by focusing on high-margin products in banking and capital markets, as well as enhancing service offerings to existing clients [9][12] - The company is exploring synergies between asset servicing and wealth management, particularly in alternative markets [10][12] - The asset servicing segment is expected to benefit from the growth in private markets and alternatives, which are becoming a larger part of the business [12][84] Financial Performance and Outlook - Deposits saw a spike due to tariff volatility, but levels have remained elevated despite some normalization [35][36] - The net interest income (NII) outlook for 2025 is projected to grow in the low to mid-single digits year-on-year, supported by higher deposit levels and interest rates remaining stable [42][43] - Expense growth is expected to be managed at 5% or less, with a focus on productivity improvements to offset investments [50][52] Technology and Digital Assets - Northern Trust is investing in digital assets and exploring the implications of recent regulatory changes that may accelerate the digitalization of assets [25][26][27] - The company is preparing for potential changes in cash management and settlement systems due to tokenization [27][28] Capital Management and Return Priorities - Northern Trust maintains a strong capital position with a CET1 ratio of 12.9%, above the target range of 11-12% [63][65] - The company is cautious about capital allocation, viewing excess capital as a buffer rather than surplus [62][64] - Dividend policy is aligned with earnings sustainability, with a current payout ratio around 39% [68][69] M&A and Growth Strategy - While M&A opportunities are not a primary focus, Northern Trust is open to potential acquisitions in the wealth and asset management space if they align with strategic goals [72][74] - The company is prioritizing organic growth and enhancing its service offerings to drive future growth [72][73] Conclusion - Northern Trust is strategically positioned to leverage its strengths in client service and technology to drive profitable growth in asset servicing and wealth management, while maintaining a strong financial position and preparing for future market changes [6][9][12][42][63]

NORTHERN TRUST CORPORATION First Quarter 2025 Quarterly Earnings Review northerntrust.com / © 2025 Northern Trust 135 years of strength, stability & stewardship Disciplined, client-centric strategy Highest standards of client service Product leadership & innovative services Solutions-focused technology & integrated operating platform northerntrust.com / © 2025 Northern Trust 2 FINANCIAL HIGHLIGHTS northerntrust.com / © 2023 Northern Trust northerntrust.com / © 2025 Northern Trust 33 Financial Highlights & K ...