Home Business NewsBusiness Morgan Stanley sees profits soar

Morgan Stanley sees profits soar

by LLB Reporter
19th Apr 17 3:15 pm

These are the figures

Morgan Stanley saw its profits rise massively in the first quarter.

Profits were up 74 per cent to $1.84bn (£1.4bn) for the three months against the same quarter last year.

This increase came about as investment banking and bond trading revenues rose. The bank was also able to set aside less money for credit losses.

Chief executive James Gorman said: “We reported one of our strongest quarters in recent years,”

“All our businesses performed well in improved market conditions. We are confident in our business model and the opportunities ahead, while recognizing that the environment remains uncertain.”

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