April 19, 2011 / 12:09 PM / 6 years ago

UPDATE 1-Northern Trust net falls; low interest rates hurt

1 Min Read

* EPS 61 cents vs year-ago 64 cents

* Revenue flat at $897.9 million

BOSTON, April 19 (Reuters) - Financial services company Northern Trust Corp (NTRS.O) reported a decline in quarterly profit as low interest rates weighed on securities lending revenue.

Net income slipped to $151 million, or 61 cents a share, from $157.2 million, or 64 cents, a year earlier.

The Chicago-based company said revenue was $897.9 million, unchanged from a year ago. Trust, investment and other serving fees, which make up 57 percent of the company's revenue, were steady at $514.9 million.

Securities lending revenue fell 69 percent to $17.0 million.

Assets under custody grew 17 percent to a record $4.4 trillion. (Reporting by Svea Herbst-Bayliss; editing by John Wallace)

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