Morgan Stanley‘s remarkable performance in 2024 highlights its resilience and growth, driven by external investment management.
In a remarkable display of financial prowess, Morgan Stanley has reported a staggering 50% increase in its net attributable profit for the year 2024, heralded as “one of the strongest years in its history.” The private bank’s income from the management of external investments surged to an impressive $22.499 billion, reflecting a 15% increase compared to 2019.
For the entirety of the fiscal year, Morgan Stanley achieved a net profit of $12.8 billion (€12.425 billion), a figure that underscores a significant enhancement over the profits recorded in 2023. The bank’s annual financial statements reveal a robust turnover of $61.761 billion (€59.952 billion), marking a 14% rise from the previous year. This growth trajectory includes a commendable 5% increase in interest income, which reached $8.611 billion (€8.359 billion).
The primary catalyst for Morgan Stanley‘s impressive performance has been the buoyant state of the financial markets throughout 2024. As a direct consequence of the favorable investment climate, revenue from asset management experienced a notable 15% uptick, amounting to $22.499 billion (€21.840 billion). Furthermore, the investment banking sector witnessed a remarkable 36% growth, culminating in revenues of $6.705 billion (€6.509 billion).
Additionally, fee income rose by 12% year-on-year, totaling $5.094 billion (€4.945 billion), while trading income reached $16.763 billion (€16.272 billion), reflecting a 10% increase. In a noteworthy development, provisions for credit losses saw a dramatic decline of 50%, settling at $264 million (€256 million) for the year, which included $115 million (€112 million) in the fourth quarter alone.
In quarterly terms, the fourth quarter of 2024 proved particularly fruitful for Morgan Stanley, as the firm reported a net attributable profit of $3.564 billion (€3.460 billion), representing an astonishing 158% increase compared to the same period in the previous year. The entity’s turnover during this quarter soared to $16.223 billion (€15.748 billion), up 25.8%, buoyed by a remarkable 35% growth in interest income, which amounted to $2.552 billion (€2.477 billion).
Morgan Stanley‘s financial results for 2024 not only reflect a robust recovery and growth trajectory but also highlight the institution’s adeptness in navigating the complexities of the financial landscape, all while delivering substantial returns to its stakeholders.