Morgan Stanley · NYSE:MS
Morgan Stanley — Q1 2023 Earnings Presentation
11 slides from Morgan Stanley's earnings presentation, Apr 19, 2023
Slide 1: Morgan Stanley Fixed Income Investor Presentation
Morgan Stanley Fixed Income Investor Presentation May 15, 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) 92.5 97.7 92.1 15.0 91.4 71.7 73.0 11.0 11.0 8.7 9.0 Common Tangible 75.9 72.5 67.1 68.0 Equity 62.9 63.8 3.0 Common Equity(2) 2018 2019 2020 2021 2022 1Q23 2018 2019 2020 2021 2022 1Q23 Fully Phased-In Common Equity Tier 1 Ratio (%)(3)
Slide 4: Strong Liquidity Position
Strong Liquidity Position Liquidity Coverage Ratio(1) (%) Average Eligible High Quality Liquid Assets(2) ($Bn) 238 239 244 195 206 145% 178 134% 129% 134% 132% 135% 2018 2019 2020 2021 2022 1Q23 2018 2019 2020 2021 2022 1Q23 Average Total Liquidity Resources(3) ($Bn) Liquidity Resources Composition(
Slide 5: Diversified and Durable Funding Mix
Diversified and Durable Funding Mix Morgan Stanley Core Funding Core Funding Overview ($Bn) Shareholders’ Deposits Total GAAP 854 895 1,116 1,188 1,180 1,200 Equity Assets: 85 86 85 • Strong capital base 74 • Primarily sourced from • Common stock Wealth Management 238 supplemented by $8.8Bn clients
Slide 6: Unsecured Borrowings: Diversified and Durable Funding Structure
Unsecured Borrowings: Diversified and Durable Funding Structure Unsecured Debt Issuance and Maturities(1) 2018-1Q23 Unsecured Debt Issuance (%) ($Bn) By Currency By Tenor 87 2% 74 61 5% 9% 53 56 6% <3yrs 45 USD 38 38 16% 34% 3-5yrs 35 12% EUR 31 29 29 5-7yrs 21 Other 14 6% 7-10yrs JPY 10-15yrs 75% G
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) ($Bn), Net of ACL ($Bn), As of March 31, 2023 IM Loans $0.2Bn 359 363 40 336 17 18 ISG Loans 89 $79Bn 15 WM Loans $144Bn 18 290 14 12 262 144 146 9 13 129 232 Of which $7Bn CRE 11
Slide 8: Credit Ratings
Credit Ratings As of May 15, 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 Private Ban
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
End Notes 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 measure that the F
Slide 11: Morgan Stanley Fixed Income Investor Presentation
Morgan Stanley Fixed Income Investor Presentation May 15, 2023