Goldman Sachs warns of hit to third-quarter earnings on deal to offload GreenSky

Published 9 mins agosaid Wednesday that it agreed to sell its fintech lending platform GreenSky to a group of investors led by private equity firm Sixth Street.

The deal, which includes a book of loans created by Goldman, will result in a 19 cents per share reduction in third-quarter results, Goldman said in the statement. Goldman Sachs, the most Wall Street-dependent of large American banks, is scheduled to post results on Tuesday. "This transaction demonstrates our continued progress in narrowing the focus of our consumer business," CEO David Solomon said in the release. The bank is now focused on its core investment banking, trading and asset and wealth management operations after pivoting away from an ill-fated push into consumer finance, he said.

Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly

Ireland Ireland Latest News, Ireland Ireland Headlines

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

Goldman Sachs says Japan is a 'bright spot' right now and reveals some top stocksGoldman Sachs says one Japanese sector looks particularly good value, and its top picks include one stock on its conviction list.
Source: CNBC - 🏆 12. / 72 Read more »

Here are 20 stocks I'm watching Tuesday, including Lilly, AMD and Goldman SachsThese are some of the tickers on Jim’s radar for Tuesday, Oct. 10, taken directly from his reporter’s notebook.
Source: NBCLA - 🏆 319. / 59 Read more »