Goldman Sachs Doubles Fourth Quarter Profits

Thanks to its trading and advisory activities, the American giant saw its profit more than double in the fourth quarter. For its part, Bank of America more modestly reported Tuesday a less marked drop than expected, but reduced its provisions for bad debts.

The investment bank has taken advantage of its power in business advisory activities.

The good news continues to fall for Wall Street banks. After JP Morgan last week, Goldman Sachs posted a jump in quarterly profit of no less than 153% from the fourth quarter of 2019 to $ 4.4 billion, a figure well above market expectations.

Despite the health crisis, the establishment benefited from the boom in mergers and acquisitions and the good health of the financial markets, which boosted its trading activities. In total, over the quarter, it recorded net banking income of 11.7 billion, up 18% over one year.

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