Goldman Sachs cuts quarterly earnings citing legal provisions

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 66%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Goldman Sachs Group Inc on Friday lowered its previously stated quarterly net earnings applicable to common shareholders to US$197 million from US$2.

FILE PHOTO: The Goldman Sachs logo is displayed on a post above the floor of the New York Stock Exchange, September 11, 2013.

Lucas Jackson/File PhotoThe bank said in a filing it had set aside US$2.96 billion for potential legal and regulatory costs, up from the US$945 million announced on July 15 with its second-quarter earnings.On July 24, the bank agreed to pay the Malaysia government US$3.9 billion to settle a criminal probe over its role in the multibillion-dollar 1MDB scandal.

 

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:

 /  🏆 6. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines