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Morgan Stanley’s profits fall 9% as investment banking revenue falls


Updated October 18, 2023 at 1:29 p.m. ET

Morgan Stanley said third-quarter profit fell 9% from a year ago, hit by a sharp decline in transactions.

Investment bank revenues fell 27%, far worse than those of other banks. In this context, fees related to business advice on mergers and acquisitions have decreased by more than 30%. The same was true for income from subscription bond issues.

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