Morgan Stanley · NYSE:MS
Morgan Stanley — Q3 2023 Earnings Presentation
11 slides from Morgan Stanley's earnings presentation, Oct 18, 2023
Slide 1: Morgan Stanley Fixed Income Investor Presentation
Morgan Stanley Fixed Income Investor Presentation As of November 22, 2023
Slide 2: Notice
Notice The information provided in this presentation may include certain non-GAAP financial measures. The definition of and/or reconciliation of such measures to the comparable U.S. GAAP figures are included in this presentation, or in the Company’s Annual Report on Form 10-K (‘Form 10-K’), Definiti
Slide 3: Strong Capital Position
Strong Capital Position Net Income(1) ($Bn) Common Equity ($Bn) 15.0 92.5 97.7 91.4 90.5 11.0 11.0 71.7 73.0 8.7 9.0 7.6 Common Tangible Equity 75.9 72.5 67.1 66.6 Common 62.9 63.8 Equity(2) 2018 2019 2020 2021 2022 9M23 2018 2019 2020 2021 2022 3Q23 Standardized Common Equity Tier 1 Ratio (%)(3) Su
Slide 4: Strong Liquidity Position
Strong Liquidity Position Liquidity Coverage Ratio(1) (%) Average Eligible High Quality Liquid Assets(2) ($Bn) 238 239 241 145% 206 134% 129% 134% 132% 195 127% 178 2018 2019 2020 2021 2022 3Q23 2018 2019 2020 2021 2022 3Q23 Average Total Liquidity Resources(3) ($Bn) Liquidity Resources Composition(
Slide 5: Diversified and Durable Funding Mix
Diversified and Durable Funding Mix Morgan Stanley Core Funding Core Funding Overview ($Bn) Total GAAP 854 895 1,116 1,188 1,180 1,169 Shareholders’ Deposits Assets: Equity 85 86 99 74 • Strong capital base • Primarily sourced from • Common stock Wealth Management 238 supplemented by $8.8Bn 233 247
Slide 6: Unsecured Borrowings: Diversified and Durable Funding Structure
Unsecured Borrowings: Diversified and Durable Funding Structure Unsecured Debt Issuance and Maturities(1) 2018-3Q23 Unsecured Debt Issuance (%) ($Bn) 87 By Currency By Tenor 74 2% 61 58 56 5% 8% 45 45 6% 38 38 USD <3yrs 35 16% 35% 29 29 12% EUR 3-5yrs Other 5-7yrs JPY 7-10yrs 6% GBP 10-15yrs ≥15yrs
Slide 7: High Quality Lending Portfolio with Disciplined Growth
High Quality Lending Portfolio with Disciplined Growth Total Loans and Lending Commitments(1) Total Loans, net of ACL(1) ($Bn), Net of ACL 373 ($Bn), As of September 30, 2023 359 IM Loans $0.4Bn 19 336 17 15 42 290 WM Loans 80 ISG Loans $146Bn $79Bn 14 146 18 262 146 13 129 11 232 11 98 Of which ~$7
Slide 8: Credit Ratings
Credit Ratings As of November 22, 2023 Moody’s S&P Fitch Morgan Stanley Outlook Stable Stable Stable Long-Term A1 A- A+ Short-Term P-1 A-2 F1 Subordinated Debt Baa1 BBB+ A- Preferred Stock Baa3 BBB- BBB Morgan Stanley Bank, N.A. Outlook Stable Stable Stable Long-Term Aa3 A+ AA- Morgan Stanley Privat
Slide 9: End Notes
End Notes This presentation may include certain metrics, including non-GAAP financial measures, which we believe to be useful to us, investors, analysts and other stakeholders by providing further transparency about, or an additional means of assessing, our financial condition and operating results.
Slide 10: End Notes (Continued)
End Notes (Continued) These notes refer to the financial metrics presented on slide 3. 1. Net Income Applicable to Morgan Stanley. 2. Tangible Common Equity (‘TCE’) equals common equity less goodwill and intangible assets net of allowable mortgage servicing rights. TCE is a non-GAAP financial measur
Slide 11: Morgan Stanley Fixed Income Investor Presentation
Morgan Stanley Fixed Income Investor Presentation As of November 22, 2023