© Reuters. FILE PHOTO: The Morgan Stanley logo appears on the New York Stock Exchange (NYSE) stock market in Manhattan, New York City, US, August 3, 2021. REUTERS / Andrew Kelly
Author Sohini Podder and Matt Scuffham
(Reuters) -Morgan Stanley on Thursday reported a third-quarter profit on the market, as the investment bank closed its grip and made a record $ 1.27 billion from its advisory business in three months.
Global integration has found a new one as $ 1.52 trillion contracts were announced in the last three months on September 27, an increase of 38% since last year and rising more than a quarter according to the Refinitiv data.
Total revenues from the stock, which sells and sells and deposits money in the bank, the largest share of the bank, rose 22% to $ 7.5 billion last year.
Revenue from savings, technology, justice and regulatory businesses came in at $ 2.85 billion, compared to $ 1.71 billion last year.
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Revenue payments amounted to $ 1.01 billion, while the bank was an investor in a few expected companies in the stock market, including a rival to Salesforce Freshworks Inc, a software developer Toast Inc and a shoemaker of Federer On Holding AG.
The Morgan Stanley segment was also boosted by a 25% economic growth in its asset management businesses, driven by the growth of the economy and the growth in overall interest rates, which is due to the acquisition of E * Trade and a strong customer base.
The return on the average fixed rate is 19.6%, more than the two-year bank target between 14% and 16% set in January. The figure measures how the bank uses its capital to make a profit.
With no credit to many retailers, Morgan Stanley was able to cope with the financial crisis of the COVID-19 epidemic.
The bank brought in losses up to $ 24 million in the third quarter from $ 111 million last year.
Total revenues among ordinary people rose to $ 3.58 billion, or $ 1.98 per share, in the three months ended Sept. 30, from $ 2.6 billion, or $ 1.66 billion per share, last year.
Researchers were expecting a profit of $ 1.68 per category, according to Refinitiv’s findings.
Total revenue rose to $ 14.75 billion in the third quarter, compared to $ 11.72 billion last year.
Shares of Morgan Stanley shares for sale in dollars.
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