Major US banks announced their balance sheets – Last Minute Economy, World News
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US investment banks Morgan Stanley and Bank of America announced their balance sheets for the January-March period. According to the statement made by Morgan Stanley, the bank’s net profit in the first quarter of this year increased by 14.4 percent compared to the same period last year, reaching 3.4 billion dollars. The company made a net profit of $ 3 billion in the first quarter of 2023.
The company’s profit per share, which was 1.70 dollars in the first quarter of last year, was 2.02 dollars in the same period this year.
Morgan Stanley’s revenue in the first quarter of this year increased by 4.1 percent compared to the same period last year, reaching 15.1 billion dollars. The bank’s income was recorded as 14.5 billion dollars in the first quarter of 2023.
According to the statement made by Bank of America, the bank’s net profit in the first quarter of the year decreased by 18 percent compared to the same period last year, falling to 6.7 billion dollars, due to the decrease in interest income. The bank announced a net profit of $8.2 billion in the first quarter of 2023.
The company’s profit per share fell to 0.76 cents in the first quarter of this year. The bank’s profit per share was 0.94 cents in the same period of 2023.
The bank’s income in the first quarter of this year decreased by 2 percent compared to the same period last year, falling to 25.8 billion dollars. The bank had a revenue of $26.26 billion in the same period of 2023.
The bank’s net interest income decreased by 3 percent in the first quarter compared to the same period of the previous year, falling to 14 billion dollars.
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