Goldman Sachs, in transition, continues to suffer

The US bank posted a profit down 21% in the first quarter. The difficulties in brokerage are still weighing on its results and the efforts of the new management to diversify the sources of revenue are not yet bearing fruit. Its roadmap will not be known until early 2020.

Goldman Sachs is doing the round back. The American investment bank, in a period of transition, released Monday a net profit down 21% year on year, to 2.25 billion dollars. This is certainly higher than the forecasts of analysts thanks to commissions collected in mergers and acquisitions, but insufficient to satisfy the markets, which sanctioned the title at the opening of Wall Street (-2.5%).

Goldman Sachs suffers, like most US banks, the drop in its brokerage business, whose revenues have declined by 18% early this year. A decline comparable to that of JP Morgan Chase (-17%).

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