Morgan Stanley's Institutional Securities Reports Record Net Revenues in Q1 2021

Morgan Stanley​ (NYSE: MS) has posted solid earnings results​ for the first quarter of 2021, with net revenues of the Institutional Securities reaching a record level of $8.6 billion, up 66% compared to the $5.2 billion for the same period of 2020.

In Q1 2021, the Wall Street giant reported net revenues of $15.7 billion across all segments, including Institutional Securities, Wealth Management and Investment Management. This figure was significantly higher than the previous year's figure of $9.8 billion.

During the period, net income applicable to Morgan Stanley was $4.1 billion, or $2.19 per diluted share, compared with net income of $1.7 billion, or $1.01 per diluted share, for the same period a year ago.

Wealth Management reported net revenues for the quarter ended March 31, 2021 of $6.0 billion compared with $4.1 billion from a year ago. Additionally, Investment Management reported net revenues of $1.3 billion compared with $692 million a year ago.

Morgan Stanley resumed its Share Repurchase Program and repurchased $2.1 billion of its outstanding common stock in the first quarter of 2021, subject to limitations on distributions from the Federal Reserve.

The US investment banking giant also became the first big US bank to offer its wealthy clients access to bitcoin funds in Q1 2021. In addition, Morgan Stanley was rumored to acquire Bithumb​, the top cryptocurrency exchange in Korea this March.