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Bank Morgan Stanley bypassed by Goldman Sachs profits

20 july 2017 - Fx4News
Bank Morgan Stanley bypassed by Goldman Sachs profits

According to Morgan Stanley bank statements, its profit has increased significantly and exceeded the forecasts, helped by the improvement in the investment business and the division of wealth management. 

Thus, the bank's profit for the second quarter rose to $ 1.76 billion. Thus, the profit amounted to 87 cents per share, while the forecast it was expected to reach 76 cents. Revenues were $ 9.5 billion vs. $ 9.09 billion,

 

 

Share price Morgan Stanley increased by 2.5% to $ 46.29 per share in early trading. 

According to the bank asset management division showed the best quarterly performance in a fairly significant period - more than three years. Revenue increased 8.9% to $ 4.15 billion. 

The business, which the lender built for regular inflow of return, formed a 25% margin before tax and reaffirmed the stated purpose of the executive director of the bank. 


Investment division earned income is 25% higher and amounted to $ 1.53 billion. 

At the same time the total income from trading fell, but the decline was not as significant as that of a competitor bank Goldman Sachs. Thus, trading income fell by almost 4%, while income from bond trading fell by 4.5%. 

These figures are minimum among the other banks, for example, Goldman Sachs announced losses of 40% of revenue from transactions with bonds. 

Good results are loss of revenue on trade brought the reforms in this area. As the bank has appointed new management, and reduce staff. 

The bank also reported a high performance in equity trading income rose to $ 2.2 billion. 

It is noteworthy that the result of the yield on equity has reached the planned indicators by the end of the year. Now it is 9.1%. 

Earnings applicable to shareholders increased to $ 1.59 billion in the second quarter, which ended June 30. 

Non-interest expenses Morgan Stanley increased by 6.8% to $ 6.86 billion, while bank and seeks to minimize their costs. 

Net revenue increased by 6.6% to $ 9.5 billion compared with the average of $ 9.09 billion.

 

Based on materials WELTRADE

 

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