Goldman Sachs to post $400 million hit to third-quarter results as it unwinds consumer business

  • 📰 NBCNewYork
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 63%

News Nachrichten

Deutschland Neuesten Nachrichten,Deutschland Schlagzeilen

In late 2022, Goldman Sachs began to pivot away from its consumer operations, beginning a series of writedowns related to selling chunks of the business.

Goldman Sachs will post a roughly $400 million pretax hit to third-quarter results as the bank continues to unwind its ill-fated consumer business.

CEO David Solomon said Monday at a conference that by unloading Goldman's GM Card business, as well as a separate portfolio of loans, the bank would post a hit to revenues next month. Solomon also said that trading revenue for the quarter was headed for a 10% decline because of a tough year-over-year comparison and difficult trading conditions in August for fixed-income markets.will post a roughly $400 million pretax hit to third-quarter results as the bank continues to unwind its ill-fated consumer business.

Goldman is instead focusing on asset and wealth management to help drive growth. The bank was in talks to sell the GM Card platform toSolomon also said Monday that trading revenue for the quarter was headed for a 10% decline because of a tough year-over-year comparison and difficult trading conditions in August for fixed-income markets.Celebrity News

 

Vielen Dank für Ihren Kommentar.Ihr Kommentar wird nach Prüfung veröffentlicht.
Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

 /  🏆 270. in DE

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen