Morgan Stanley closed the third quarter with earnings up 32% to $3.19 billion, above analysts’ expectations. Revenues elevated by 16% to fifteen.38 billion.
The particulars of the Third Quarter
Earnings per share rose from $1.38 in 2023 to $1.88. Return on tangible capital (Rotce) stood at 17.5%, within the quarter, and 18.2% yr to this point. During the quarter, defined a notice taken from the Radiocor company, the group elevated its Common Equity Tier 1 capital by 2.1 billion {dollars}, closing the interval with a Standardized Common Equity Tier 1 capital ratio of 15.1%. «The financial institution recorded a strong third quarter in a good surroundings for all our workplaces globally – commented CEO Ted Pick – Institutional Securities noticed momentum within the markets and in underwriting actions because of strong shopper engagement .
A strong financial institution
Total property managed on behalf of purchasers exceeded $7.5 trillion within the Wealth and Investment Management sectors, because of the great efficiency of the inventory markets and the online influx of property. «Our enterprise mannequin is delivering robust returns whereas being capital accretive, producing a ROTC of 18.2% within the first three quarters of 2024. Our administration continues to deal with sustained development and the belief of long-term returns for our shareholders” concluded Pick. The Institutional Securities business posted net revenues of $6.8 billion in the quarter (up from $5.6 billion a year ago) and Investment Banking nearly reached $1.5 billion (up from $938 million a year ago ).
The bank’s shares gained more than 3% at the opening on Wall Street and moved into record territory.
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