Goldman Sachs Benefits from M&A Boom
Goldman Sachs, the best-known investment bank on Wall Street, made significantly more profit in the third quarter than a year earlier.
The American bank did excellent business advising on mergers and acquisitions of companies and guiding IPOs worldwide.
Net profit amounted to 5.3 billion dollars, converted almost 4.6 billion euros. As a result, profits rose by 63 percent year on year. Goldman Sachs’ income climbed 26 percent to $13.6 billion.
In the investment banking division, which among other things, is active in advising on acquisitions and mergers and IPOs, revenues rose by 88 percent.
Goldman Sachs claims to be a global leader in these activities. The investment bank also earned considerably more money from trading in shares than a year earlier.