The Bank of America and Morgan Stanley quarterly reports close the banking season American
In the end they are Bank of America, the second largest bank in the United States, Morgan Stanley and Wells Fargo to keep the bank’s engine running at the same revs throughout 2021, 12 months that for the stars and stripes credit institutions have registered thanks to jump in investment fees it’s at loan losses lower than expected, record results.
Yes, because in the banking season which ended today at Wall Street, in which large American groups have lifted the veil on the overall balance sheet data last year, i competitor JPMorgan Chase, Goldman Sachs and Citigroup Both reported a decline in fourth quarter profits, again with a record full-year result.
The last line of the income statement for the last quarter of Bank of America And Morgan Stanley highlights a positive profit trend, with data beyond Wall Street expectations. Specifically, BofA’s fourth-quarter profit increased 28% year-on-year, although revenues fell short of expectations, with growth in loans and deposits helping to strengthen net interest income despite the challenging environment. interest rates. The group reported a profit of $ 7.01 billion for the quarter, compared with $ 5.47 billion posted a year earlier.
Earnings per share are 82 cents, above the estimate of 77 cents provided by the analysts contacted by FactSet. Revenues also grew, reaching $ 22.06 billion (+ 10% year-on-year), although they missed the estimate of $ 22.18 billion drawn up by analysts. Considering the performance of the whole year, Bank of America earned $ 31.98 billion in 2021, compared to $ 17.89 billion in 2020. Also for Morgan Stanley the fourth quarter closed with a 9% increase in profit.
Specifically, the last line of the US bank’s income statement stood at $ 3.7 billion, or $ 2.01 per share, exceeding the forecasts of analysts contacted by FactSet at $ 1.94. Turnover also grew, with an increase of 7% to 14.5 billion dollars, disappointing however the expectations of the consensus.
At the level of the whole of 2021, Morgan Stanley posted record profits, benefiting from affluent client activities and the excitement surrounding the Wall Street transaction market. The revenues of investment banking grew by 6% in the fourth quarter, in line with performance of the other rivals Goldman Sachs, Jp Morgan and Citigroup, benefiting from a boom in M&A business and robust commissions from operations adviser business. Like the competitor in fact Morgan Stanley rode thewave ofBUT advising on several major corporate mergers, following some of the largest stock market listings and helping to fine-tune transactions related to various Spac. On the other hand, revenue generated from trading stocks and bonds fell by 6%.
Also Wells Fargo, more concentrated than its rivals on traditional credit activities, on the contrary (results communicated on January 14) recorded an increase in profits in the three months of 86% to 5.75 billion. After the quarterly, on Wall Street Bank of America increases by 1.7%, while Morgan Stanley earn 2%.
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