Goldman Sachs profit jumps 45% on investment banking strength

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Goldman Sachs News

Jpmorgan Chase,Investment Bank

It joined JPMorgan Chase, which also gained from an investment banking revival, as corporate clients became more confident in the economic outlook, spurring ...

The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange in New York City - Goldman Sachs' profit jumped 45% in the third quarter as the investment bank benefited from a rebound in dealmaking.

Goldman's investment banking fees jumped 20% 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. Goldman continues to take a hit from its ill-fated consumer business two years after stepping back from it. The company has since shifted its focus back on traditional mainstays of investment banking and trading.

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