22 Apr 2010

$US1.4 billion profit at Morgan Stanley

6:05 am on 22 April 2010

Morgan Stanley has reported a net profit of $US1.4 billion in the first three months of 2010.

A strong showing from the bank's trading division was credited with much of its earnings - which compared with a loss of $US578 million in the same period last year.

The BBC reports the results follow strong profits at Goldman Sach and JP Morgan Chase as large banks in the United States continue to recover from the financial crisis.

Morgan Stanley made a loss in 2009.