Strong equities trading helps Goldman Sachs to solid profit

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 63%

South Africa Headlines News

The bank said equities trading revenue rose 6% from a year ago to $2bn, the second highest in four years

Goldman Sachs Group reported a higher-than-expected quarterly profit on Tuesday as the Wall Street investment bank benefited from higher equities trading revenues and an increase in lending to companies and wealthy clients.

However, Goldman's fixed-income business suffered another disappointing quarter with net revenue falling 13%. The bank said that the decline reflected significantly lower net revenue from interest-rate products and currencies. Institutional client revenue, which includes trading, slipped 3%, while investment banking revenue was down 9%. However, revenue from the bank's investing and lending business rose 16%, its highest quarterly performance in eight years.Evercore ISI analyst Glenn Schorr said Goldman had delivered a"pretty good quarter" with most business lines performing"a little better than expected".

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Second summit planned so gang-plagued communities can have their sayA second summit to address spiralling violent crime in the Western Cape will be held within two weeks.
Source: TimesLIVE - 🏆 28. / 59 Read more »

Johnny Clegg surrounded by family in final moments: 'He fought till the very end''The last few weeks have been very tough for him. He has been very strong.'
Source: TimesLIVE - 🏆 28. / 59 Read more »

43 murders reported in Cape Town over weekend - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Western Cape Premier, Alan Winde says 43 murders have been reported in areas in and around Cape Town over the weekend despite a strong police presence in crime-ridden areas.
Source: SABC News Online - 🏆 32. / 51 Read more »

Roger de Sa on the many battles he enjoyed with Marc BatchelorFormer Bafana Bafana goalkeeper Roger de Sa enjoyed many battles with slain former Kaizer Chiefs and Orlando Pirates striker Marc Batchelor‚ but says his reputation from after his playing days was nothing like his demeanour on the pitch.
Source: TimesLIVE - 🏆 28. / 59 Read more »

Solid cost containment helps Citigroup to better than expected profitCitigroup added loans and deposits in the second quarter, allaying concerns that a weaker economic outlook is hurting consumers’ ability to borrow
Source: BDliveSA - 🏆 12. / 63 Read more »

Global equities struggle as investors await US dataStocks battle to hold on to recent gains while traders await US data, and corporate and bank earnings for clues on the health of the US economy
Source: BDliveSA - 🏆 12. / 63 Read more »