Goldman Sachs Group, Inc. (the) · NYSE:GS
Goldman Sachs Group, Inc. (the) — Q3 2021 Earnings Presentation
17 slides from Goldman Sachs Group, Inc. (the)'s earnings presentation, Oct 15, 2021
Slide 1: Third Quarter 2021 Earnings Results Presentation
Exhibit 99.2 Third Quarter 2021 Earnings Results Presentation October 15, 2021
Slide 2: Results Snapshot
Results Snapshot Net Revenues Net Earnings EPS 3Q21 $14.93 3Q21 $13.61 billion 3Q21 $5.38 billion 3Q21 YTD $48.59 3Q21 YTD $46.70 billion 3Q21 YTD $17.70 billion 1 1 Annualized ROE Annualized ROTE Book Value Per Share 3Q21 22.5% 3Q21 23.8% 3Q21 $277.25 3Q21 YTD 25.7% 3Q21 YTD 27.2% YTD Growth 17.4%
Slide 3: Macro Perspectives
Macro Perspectives Macro Factors Economic Fundamentals Economic Growth Expected in 2022 Continued economic recovery amid vaccination progress U.S. Global Increased likelihood of tightening monetary policy in the 2022 GDP Growth: +4.0% +4.6% near-term, reflecting inflationary pressures Relatively Sol
Slide 4: Financial Overview
Financial Overview Financial Results Financial Overview Highlights vs. n 3Q21 results included EPS of $14.93 and ROE of 22.5% $ in millions, vs. vs. 3Q21 3Q20 except per share amounts 3Q21 2Q21 3Q20 YTD YTD — 3Q21 net revenues were significantly higher YoY, reflecting significantly higher net revenu
Slide 5: Investment Banking Financial Results
Investment Banking Financial Results Investment Banking Highlights vs. n 3Q21 net revenues were significantly higher YoY vs. vs. 3Q21 3Q20 $ in millions 3Q21 2Q21 3Q20 YTD YTD — Financial advisory net revenues were a record and reflected an increase in completed mergers and acquisitions volumes Fina
Slide 6: Global Markets Financial Results
Global Markets Financial Results Global Markets Highlights vs. vs. vs. 3Q21 3Q20n 3Q21 net revenues were significantly higher YoY $ in millions 3Q21 2Q21 3Q20 YTD YTD — FICC net revenues were essentially unchanged, reflecting significantly higher financing net FICC $ 2,508 8% –% $ 8,721 -10% revenue
Slide 7: Global Markets – FICC & Equities
Global Markets – FICC & Equities FICC Net Revenues Equities Net Revenues vs. vs. vs. vs. 3Q21 3Q20 vs. vs. 3Q21 3Q20 $ in millions $ in millions 3Q21 2Q21 3Q20 YTD YTD 3Q21 2Q21 3Q20 YTD YTD $ 1,920 9% 31% $ 6,271 21% FICC intermediation $ 1,995 5% -8% $ 7,343 -14% Equities intermediation Equities f
Slide 8: Asset Management Financial Results
Asset Management Financial Results Asset Management Highlights vs. n 3Q21 net revenues were lower YoY vs. vs. 3Q21 3Q20 $ in millions 3Q21 2Q21 3Q20 YTD YTD — Management and other fees primarily reflected higher fee waivers on money market funds, offset by the impact of higher average AUS Management
Slide 9: Asset Management – Asset Mix
Asset Management – Asset Mix 4 4 Lending and Debt Investments of $30 billion Equity Investments of $20 billion $16 Billion Private, $4 Billion Public 7% 15% By Vintage By Region 8% 31% 9% 41% 57% 2018-thereafter Americas By Industry Loan Portfolio $16 billion 34% 20% Loans 10% 2015-2017 Asia 25% 23%
Slide 10: Asset Management – Harvesting Progress of Balance Sheet Equity Portfolio
Asset Management – Harvesting Progress of Balance Sheet Equity Portfolio Since Investor Day 2020 Significant progress in asset sales over the past seven quarters, offset by mark-ups Rollforward ($ in billions) ~$5 ~$9 $22 $20 ~$(16) Net Dispositions: ~$(11) 6 YE19 Equity Investments Mark-Ups Additio
Slide 11: Consumer & Wealth Management Financial Results
Consumer & Wealth Management Financial Results Consumer & Wealth Management Highlights vs. n 3Q21 net revenues were a record and significantly higher YoY vs. vs. 3Q21 3Q20 $ in millions 3Q21 2Q21 3Q20 YTD YTD — Wealth management net revenues primarily reflected the impact of higher average AUS, sign
Slide 12: Asset Management and Consumer & Wealth Management Details
Asset Management and Consumer & Wealth Management Details 3,4 3,4 Firmwide Assets Under Supervision Highlights n Firmwide AUS increased $67 billion during the quarter to a record $2.37 trillion, as Asset $ in billions 3Q21 2Q21 3Q20 Management AUS increased $45 billion and Consumer & Wealth Manageme
Slide 13: Net Interest Income and Loans
Net Interest Income and Loans 4 Loans Net Interest Income by Segment ($ in millions) Metrics $1,629 $ in billions $1,564 3Q21 2Q21 3Q20 Corporate $ 54 $ 48 $ 52 2.6% $645 42 40 30 ALLL to Total Wealth management $690 $1,084 Gross Loans, at Amortized Cost Commercial real estate 22 20 18 $118 13 12 5
Slide 14: Expenses
Expenses Financial Results Expense Highlights vs. n 3Q21 total operating expenses increased YoY vs. vs. 3Q21 3Q20 3Q21 2Q21 3Q20 YTD YTD $ in millions — Non-compensation expenses up 11%, reflecting: o Higher technology expenses, professional fees, transaction based expenses and Compensation and bene
Slide 15: Capital and Balance Sheet
Capital and Balance Sheet 3,4 Capital Capital and Balance Sheet Highlights 7 n Standardized CET1 capital ratio decreased QoQ, due to higher credit RWAs $ in billions 3Q21 2Q21 3Q20 n Advanced CET1 capital ratio increased QoQ, due to an increase in CET1 capital reflecting net Common Equity Tier 1 (CE
Slide 16: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts or statements of current con
Slide 17: Footnotes
Footnotes 1. Annualized return on average common shareholders’ equity (ROE) is calculated by dividing annualized net earnings applicable to common shareholders by average monthly common shareholders’ equity. Annualized return on average tangible common shareholders’ equity (ROTE) is calculated by di