U.S. investment bank Morgan Stanley posted an attributable profit of $11.029 billion (€10.182 billion) for the full year 2022, down 27 percent year-on-year, it said Tuesday.
The bank’s revenues fell 10.2 percent last year, to 53.668 billion dollars (49.545 billion euros). Of that figure, net interest income grew 16 percent to 9.327 billion dollars (8.610 billion euros).
Morgan Stanley also recorded income of 5,599 million dollars (5,169 million euros) from its investment banking activity, down 49 percent, while commissions generated 4,938 million dollars (4,558 million euros), down 11 percent, and income from asset management fell 2 percent to 19,578 million dollars (18,074 million euros).
Between October and December, Morgan Stanley’s attributable net profit fell 40 percent from the same period in 2021, to 2.236 billion dollars (2.064 billion euros), while quarterly revenue fell 12.2 percent to 12.749 billion dollars (11.77 billion euros).
In the last quarter, the bank’s net interest income totaled 2,319 million dollars (2,141 million euros), 11 percent more than a year earlier, while the investment banking business saw its activity fall 49 percent, to 1,318 million dollars (1,217 million euros).
Likewise, fee and commission income in the fourth quarter fell 11 percent to 1.169 billion dollars (1.079 billion euros) and income from asset management totaled 4.803 billion dollars (4.434 billion euros), down 11 percent.
«Overall, 2022 was a solid year for the firm,» said James P. Gorman, Morgan Stanley’s chairman and CEO.
Source: (EUROPA PRESS)
