Goldman Sachs has posted net revenues of $7.27bn for the fourth quarter of 2015, down 5% from $7.68bn a year ago.
The group’s net earnings for the quarter were $765m, while diluted earnings per common share were $1.27 compared with $4.38 for the fourth quarter of 2014.
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The firm said that net provisions for litigation and regulatory proceedings for the fourth quarter of 2015 were $1.95bn compared with $161m for the fourth quarter of 2014.
The investment management business of the bank reported net revenues of $1.55bn for the fourth quarter of 2015, essentially
unchanged compared with year ago quarter. Also, management and other fees remained unchanged compared with the fourth quarter of 2014.
For the quarter ended 31 December 2015, the unit’s total assets under supervision increased $64bn to $1.25 trillion.
Long-term assets under supervision at the unit increased $16bn, including net inflows of $9bn, spread across all asset classes, and net market appreciation of $7bn, reflecting appreciation in equity assets. In addition, liquidity products increased $48bn, the bank said in its financial statement.
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By GlobalDataGoldman Sachs chairman and CEO Lloyd Blankfein said: "We are pleased that our diversified business mix allowed us to deliver solid results in a year characterized by uneven global economic activity. Looking ahead, we believe our strong global client franchise leaves us well positioned to generate superior returns over the long term."
