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Morgan Stanley’s net income surges to record high in 2020

MOSCOW, 20 Jan – PRIME. Morgan Stanley’s 2020 net income climbed 22% year-on-year to $ 10.996 billion, the finance corporation reported. Bank of America’s net profit declines 34.7% in 2020 Net income attributable to shareholders increased by 23% to $ 10.5 billion. Diluted earnings per share were $ 6.46 versus $ 5.19 in 2019. Consolidated net revenue of Morgan Stanley for the reporting period amounted to 48.198 billion dollars, an increase of 16% over the previous year. The release notes that net income and revenues for the year ($ 11 and 48 billion, respectively) have become record. Morgan Stanley’s net profit for the fourth quarter of 2020 rose one and a half times in annual terms and reached $ 3.385 billion. Net income attributable to shareholders rose 1.6 times to $ 3.266 billion. Diluted earnings per share were $ 1.81 versus $ 1.3, and adjusted earnings per share were $ 1.92, while analysts had expected a reading of $ 1.3. Revenue amounted to $ 13.64 billion, 26% higher than the previous year, which was better than the forecast of analysts expecting the figure at the level of 11.5 billion. Morgan Stanley Bank was founded in 1935. One of the main areas of activity is asset management. The financial company operates in more than 40 countries.

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