Despite a surge in profits from two of its larger competitors, Northern Trust Corp. reported that its second quarter results tumbled as a result of declines in fee revenue and some nonperforming loans.
Northern Trust reported a profit of $199.6 million, or 82 cents a share, down 36% from a year earlier. Revenue declined 7% to $973.8 million. The results beat analyst estimate by eight centers, according to Thomson Reuters.
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