Goldman return to profit

" Goldman Sachs swung to a profit in the third quarter, posting $1.46bn worth of profits after revenues from investment banking and trading recovered. "

" Total net revenues in the three months to September more than doubled to $8.35bn, helping boost net income to $1.46bn compared with a loss of $428m in the same period last year. " 

" This year’s third quarter stands in stark contrast to the same period last year, when frozen markets led to a $428m net loss at the bank – only the second time that Goldman failed to produce a profit since going public in 1999. " 

" “This quarter’s performance was generally solid in the context of a still challenging economic environment,” Lloyd Blankfein, chief executive, said in a statement. "

" Goldman’s return on equity – a key measure of its ability to generate profits – was 8.6 per cent in the period. That was an improvement from the 5.45 per cent reported in the same period last year, but still a far cry from the level of more than 30 per cent reported before the financial crisis. "

ENG:

One of the most criticized banks after the financial collapse of the 2008, is back in business, and in a huge way for the weak financial period that we live.

In fact Goldman scored a strong profit, more than expected by analysts, after bouyant bond markets helped boost its investment banking and trading divisions. Now net revenues in investment banking have jumped 49%t to $1.16bn, and income from  currency and commodities have jumped 28% to $2.22bn in the period.

Thank to this trend that Goldman has posted a net income of $1.46bn, that compared with a loss of $428m in the same period last year, means an huge break from the past and a clear  reversal trend.

As we all know this is a tough time for banks, and for those reasons that Wall Street banks are still struggling to redefine their ways to do business with muted markets and new regulations which limit their ability to make money.

Is that the indicator for a new recovery of the global economy? We hope so

ITA:

Una delle banche più criticate dopo il crollo finanziario del 2008, è tornata in business, e in maniera pesante tenuto conto del periodo di debolezza finanziaria che viviamo da quattro anni a questa parte.

Infatti Goldman ha ottenuto un profitto decisamente elevato, battendo le stime effettuate dagli analisti, dopo che i mercati obbligazionari hanno aiutato ad incrementare pesantemente aumentare le sue attività di investment banking e le divisioni commerciali. Ora i ricavi netti del periodo relativi all'investment banking sono balzati del 49% ,toccando quota $ 1.16bn, e i ricavi derivanti da valute e commodities sono incrementati  del 28% per cento a $ 2.22bn.

Grazie a questo andamento positivo Goldman Sachs ha ottenuto un utile netto di $ 1.46bn, che a fronte di una perdita di $ 428m nello stesso periodo dello scorso anno, dando il via ad una evidente inversione di tendenza.

Come tutti sappiamo questo è un momento difficile per le banche e per il business in generale, ed è per questi motivi che le banche di Wall Street stanno lottando duramente per ridefinire i loro modi di fare affari con mercati tenui e caratterizzati da nuovi regolamenti che limitano la loro capacità di creare profitti.

Potrà essere l'indicatore per una nuova ripresa dell'economia mondiale? Lo speriamo assolutamente

Financial Times article here