, the largest U.S. bank, also suffered from the well-flagged slowdown from last year's record-breaking trading results. L4N2OP27H
Investment banking revenue rose 16% at Morgan Stanley to $2.38 billion, largely driven by gains from advising on deals and equity underwriting. The investment banking boost pushed Morgan Stanley's net income applicable to common shareholders to $3.4 billion in the second quarter ended June 30 from $3.05 billion a year earlier.
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