Posted on Oct 14, 2021, 5:42 PMUpdated Oct 14, 2021, 6:22 PM
If clouds threaten growth, US banks continue to rake in profits. In the third quarter, they published, Wednesday and Thursday, results that greatly exceed analysts’ forecasts.
For Morgan Stanley, the performances are even historic. The investment bank posted a profit of $ 3.71 billion, up 36%. Above all, the return of optimism generated a wave of acquisitions during the summer, which boosted its investment banking activity. This had the best quarter in its history, generating alone a turnover of 2.85 billion dollars, up 67% year on year. Revenues from the acquisition advisory business more than tripled and IPO fees increased 16%. Trading activities also had a positive impact on results.