Reported 16 days ago
Bank of America and Morgan Stanley reported third-quarter profit increases of 23% and 45%, respectively, fueled by a surge in mergers and IPOs, which led to significant gains in dealmaking fees and trading revenues. Bank of America's net income reached $8.47 billion, while Morgan Stanley's hit $4.6 billion, both exceeding analysts' expectations. This positive trend mirrored broader results from major US banks, reflecting robust performance in a thriving investment climate.
Source: YAHOO