Raymond James Financial Reports 4th Quarter and Fiscal Year 2019 Results

Raymond James Financial, Inc. (NYSE: RJF) has reported record net revenues of $2.02 billion and record net income of $265 million for the fiscal fourth quarter ended September 30, 2019. Excluding a $19 million goodwill impairment associated with our Canadian Capital Markets business, adjusted quarterly net income was $284 million. Net revenue growth of 7% over the prior year’s fiscal fourth quarter was largely attributable to higher Private Client Group assets in fee-based accounts and higher net interest income, primarily at Raymond James Bank. The 5% increase in net revenues over the preceding quarter was mostly driven by sequential growth of asset management and related administrative fees, investment banking revenues and tax credit funds revenues.

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