Goldman’s profit collapsed in Q2 due to GreenSky’s write-down, deal contraction
July 19 (Reuters) – Banking group Goldman Sachs Group’s second-quarter profit fell more than 60% as the Wall Street giant wrote off $504m related to its GreenSky unit and investment banking was hit by a decline in deal volume.
The U.S. bank posted earnings of $1.07 billion, or $3.08 a share, on Wednesday, compared with $2.79 billion, or $7.73 a share, a year earlier.
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(Niket Nishant and Noor Zainab Hussain in Bangalore and Saeed Azhar in New York)
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