Morgan Stanley reported 60% profit growth in Q1 2015

Noam Stiekema

The US investment bank Morgan Stanley reported 60% profit growth in first quarter of 2015, boosted by higher revenues from trading in shares and bonds. The net profit of the lender rose to 2.31 billion USD, or 1.18 USD per share for the first quarter ended on March 31st. An year earlier Morgan Stanley reported […]

Morgan Stanley

Morgan StanleyThe US investment bank Morgan Stanley reported 60% profit growth in first quarter of 2015, boosted by higher revenues from trading in shares and bonds. The net profit of the lender rose to 2.31 billion USD, or 1.18 USD per share for the first quarter ended on March 31st. An year earlier Morgan Stanley reported a profit of 1.45 billion USD, or 0.74 USD per share.

Excluding one-off effects, the bank earned 1.14 USD per share. The analysts expected earnings of 0.78 USD per share.

Meanwhile it became clear that Morgan Stanley is in talks to pay 500 million USD to settle an investigation by the New York judicial authorities, as to whether the investment bank misled investors when selling mortgage bonds that have lost value during the financial crisis. According to the The Wall Street Journal deal with the prosecutor in New York Eric Schneiderman is discussed at the moment, as conditions have changed. Morgan Stanley, however, will have to raise its legal reserves could eventually reach an agreement with the judicial authorities. Earlier, the office of the Prosecutor General Schneiderman indicated that Morgan Stanley had omitted key details on the assets that were secured bonds. The bank countered, however, that do not agree with the allegations. However, in March, Reuters reported that Morgan Stanley is in talks to reach an agreement.

Employees of the investment bank were not available for comment.

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