Morgan Stanley reported fourth quarter income from continuing operations applicable to Morgan Stanley of $867m or $0.43 per share, compared to $460m, or $0.18 per share in the same quarter a year ago.
Net revenues for the quarter were $7.8bn, compared to $6.8bn last year.
In addition, results for the current quarter included a pre-tax gain of $668m, or $0.17 per diluted share, from the sale of the firm’s investment in China International Capital Corporation Limited (CICC).
Institutional Securities reported pre-tax income from continuing operations of $437m compared with pretax income from continuing operations of $461m in the fourth quarter of last year.
Global Wealth Management Group reported pre-tax income from continuing operations of $390m compared with pre-tax income from continuing operations of $231m in the fourth quarter of last year.
Asset Management reported pre-tax income from continuing operations of $356m compared with a pre-tax loss from continuing operations of $37m in last year’s fourth quarter.
Morgan Stanley’s Tier 1 capital ratio, under Basel I, was approximately 16% and Tier 1 common ratio was approximately 10.5%.9. The return on average common equity from continuing operations for the full year was 8.5%.
Morgan Stanley has reported income of $4.5bn, or $2.44 per diluted share, from continuing operations applicable to Morgan Stanley for the year ended 31 December 2010, compared with income of $1.3bn, or a loss of $0.82 per diluted share, a year ago.
