The bank’s total profit was $2.99-billion, or $8.40 per share, for the three months ended Sept. 30, compared with $2.06-billion, or $5.47 per share, a year ago
profit jumped 45 per cent in the third quarter as the investment bank benefited from a rebound in deal making., which also gained from an investment banking revival, as corporate clients became more confident in the economic outlook, spurring debt and equity offerings.
Goldman’s investment banking fees jumped 20 per cent to $1.87-billion. Leveraged finance, which refers to loans made to risky ventures like funding buyouts, and investment-grade activity powered a jump in debt underwriting. The bank, however, booked $397-million in provisions for credit losses compared with $7-million a year ago, driven by higher charge-offs in its credit card portfolio.
Total profit was $2.99-billion, or $8.40 per share, for the three months ended Sept. 30, compared with $2.06-billion, or $5.47 per share, a year ago.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Goldman Sachs profit jumps 45% on investment banking strengthIt joined JPMorgan Chase, which also gained from an investment banking revival, as corporate clients became more confident in the economic outlook, spurring ...
Read more »
Goldman profits surge 45% as dealmaking stages comebackGoldman Sachs third-quarter profits rose 45% from a year ago as a rise in dealmaking lifted the Wall Street giant.
Read more »
Goldman Sachs Upgrades China Growth Forecasts on Latest Stimulus(Bloomberg) -- Goldman Sachs Group Inc. upgraded its forecasts for China’s economic growth in 2024 and 2025 after Beijing unveiled a series of measures to...
Read more »
Goldman Sachs Releases Conviction List Focusing on AI, Consumer Trends, and SustainabilityGoldman Sachs Director of Americas Equity Research Steve Kron discusses the firm's latest conviction list, highlighting three key areas: artificial intelligence, consumer trends, and sustainability. The list aims to help investors identify stocks with the highest potential for outperformance.
Read more »
Hurricane Milton could cost Disney $200M in Q4: Goldman SachsHurricane Milton is expected to make landfall in Florida on Wednesday. The storm's impact could extend beyond immediate safety concerns, potentially...
Read more »
Hedge funds switch to buying banks, insurance and trading firms, says Goldman SachsBanks, insurance and trading firms returned to favour as hedge funds last week snapped up these company stocks at the fastest pace since June 2023, a Goldman...
Read more »