...A. Highlights: Net income $14.3b. 1. 2. EPS $4.50. 3. Revenue $33.1b. 4. Return on tangible common equity 29%. 5. Included in aforementioned results are two significant items: $5.2b of net credit reserve releases. a. b. $550m contribution to firm's foundation in form of equity investments. 6. Saw another strong qtr. in CIB. Net income was all-time record with IB fees up 57% YonY, reflecting continued robust activity and markets up 25% YonY as environment remained favorable in Jan. and Feb., although, it did start to normalize in March. a. 7. In AWM, Co. had record net long-term inflows of $48b this qtr. a. Deposits $2.2t, up 36% YonY and 5% sequentially as fed balance sheet continues to expand. b. Loan growth remains muted, up 1% YonY and 2% QonQ with bright spots being AWM and secured lending in CIB. B. Results: When looking at this qtr.'s performance, there is lot of noise in YonY comparisons, particularly given what happened in March last year. 1. 2. March 2020 key points: Effectively,...
