Morgan Stanley, one of the largest US banks, increased net profit in the second quarter of 2024 by 41%, revenue by 12%.
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The bank's net profit in April-June amounted to $3.1 billion compared to $2.2 billion a year earlier.
Earnings per share increased to $1.82 from $1.24.
Morgan Stanley's quarterly revenue was $15.02 billion versus $13.46 billion a year earlier.
Experts' expectations
Experts surveyed by FactSet on average expected the bank's net income to be $1.65 per share, with revenue of $14.322 billion.
The bank's contributions to emergency reserves Loan losses in the last quarter amounted to $76 million compared to $161 million a year earlier.
The income of the Institutional Securities division (services for institutional investors in the securities market) in April-June increased by 23%, to $6. 98 billion. Revenue in the investment banking segment increased by 51%, to $1.62 billion.
Income from operations with fixed income assets increased by 16%, amounting to $2 billion, from operations with shares. by 18%, to $3.02 billion.
Morgan Stanley's revenue in wealth management increased by 2%, to $6.8 billion.
Income in investment management increased by 8%, to $1.39 billion. The volume of assets under management as of June 30 amounted to $1.518 trillion compared to $1.412 trillion a year earlier.
The total volume of Morgan Stanley client assets reached $7.2 trillion, the head of the bank said Ted Peak.
Since the beginning of 2024, Morgan Stanley's capitalization has grown by 12.9%.
- US Banks