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Tag Archives: Goldman Sachs

FDIC Suit Revived Against Deutsche, Goldman, and RBS

Lawsuits filed by the Federal Deposit Insurance Corp., accusing Deutsche Bank, Goldman Sachs, and the Royal Bank of Scotland of fraud with regards to $840 million worth of mortgage-backed securities have been revived by the 5th U.S. Circuit Court of Appeals in New Orleans.

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Goldman Reports Highest Q2 Net Income in Five Years; Citigroup Rises to $4.8 Billion

Investment banking firm, Goldman Sachs reported their highest first half net revenues in five years at $9.07 billion, according to the firm’s Q2 2015 earning statement released Thursday. Citigroup also experienced significant year-over-year growth in their net income with revenue reaching $4.8 billion for the bank, compared to $181 million for the same quarter last year, according to the bank’s earnings statement also released on Thursday.

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Goldman Sachs to Pay Australian Bank $100 Million

Goldman Sachs has been ordered by arbitrators to pay approximately $100 million to National Australia Bank (NAB) for a "conflict of interest" regarding mortgage-backed securities sales in the run-up to the mortgage meltdown, according to media reports.

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First Quarter Earnings Reports Robust for Nation’s Largest Financial Firms

For San Francisco-based Wells Fargo in Q1, revenues increased by 3 percent year-over-year up to $21.3 billion. Although net income slightly declined from the same quarter a year ago from $5.9 billion to $5.8 billion, noninterest income for the bank jumped by $29 million up to $10.3 billion. The bank received higher income in Q1 from trading activities, debt security gains, mortgage origination gains, and insurance, but the higher income was offset by lower income in mortgage servicing, which was at $108 million for Q1 compared to $235 million for Q4 2014. Wells Fargo posted mortgage banking noninterest income of $1.5 billion for Q1.

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Goldman Sachs, Citigroup Report Strong First Quarters

Goldman CEO Lloyd Blankfein said he was pleased with the fact that “all of our major businesses contributed” to the strong first quarter. “Given more normalized markets and higher levels of client activity, we remain encouraged about the prospects for continued growth,” he said.

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Citi, Goldman, UBS to Pay $235M in RMBS Settlement

According to the class-action lawsuit, which was originally filed in September 2008, the underwriters made "material misstatements and omissions of material facts" in the offering documents, which was in violation of the Securities Act.

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Fourth-Quarter Earnings Down at Goldman Sachs

New York-based investment bank Goldman Sachs reported a slight year-over-year decline in Q4 2014 net earnings, but for the whole year of 2014 the firm reported a slight uptick from 2013, according to the firm's Q4 and year-end earnings statement released on Friday.

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Goldman Sachs Sees Boost in Profits

The Goldman Sachs Group, Inc. reported a third quarter net revenue of $8.39 billion and net earnings of $2.24 billion, according to the company's Q3 earnings statement released on Thursday.

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