Goldman Sachs Group, Inc. (the) · NYSE:GS
Goldman Sachs Group, Inc. (the) — Q2 2023 Earnings Presentation
15 slides from Goldman Sachs Group, Inc. (the)'s earnings presentation, Jul 19, 2023
Slide 1: Second Quarter 2023 Earnings Results Presentation
Exhibit 99.2 Second Quarter 2023 Earnings Results Presentation July 19, 2023
Slide 2: Results Snapshot
Results Snapshot Net Revenues Net Earnings EPS 2Q23 $10.90 billion 2Q23 $1.22 billion 2Q23 $3.08 2Q23 YTD $23.12 billion 2Q23 YTD $4.45 billion 2Q23 YTD $11.91 1 1 Annualized ROE Annualized ROTE Book Value Per Share 2Q23 4.0% 2Q23 4.4% 2Q23 $309.33 2Q23 YTD 7.8% 2Q23 YTD 8.5% YTD Growth 1.9% 5 Highl
Slide 3: Financial Overview
Financial Overview Financial Results Financial Overview Highlights vs.n 2Q23 results included EPS of $3.08 and ROE of 4.0% vs. vs. 2Q23 2Q22 $ in millions, — 2Q23 net revenues were lower YoY in Global Banking & Markets and Asset & Wealth except per share amounts 2Q23 1Q23 2Q22 YTD YTD Management and
Slide 4: Global Banking & Markets
Global Banking & Markets Financial Results Global Banking & Markets Highlights vs.n 2Q23 net revenues were lower YoY vs. vs. 2Q23 2Q22 — Investment banking fees primarily reflected significantly lower net revenues in Advisory, $ in millions 2Q23 1Q23 2Q22 YTD YTD partially offset by significantly hi
Slide 5: Global Banking & Markets – Net Revenues
Global Banking & Markets – Net Revenues Net Revenues Global Banking & Markets Net Revenues Highlights vs.n 2Q23 Investment banking fees were significantly lower YoY vs. vs. 2Q23 2Q22 — Advisory reflected a significant decline in industry-wide completed mergers and acquisitions $ in millions 2Q23 1Q2
Slide 6: Asset & Wealth Management
Asset & Wealth Management Financial Results Asset & Wealth Management Highlights vs.n 2Q23 net revenues were slightly lower YoY — Record Management and other fees primarily reflected the impact of higher average AUS vs. vs. 2Q23 2Q22 $ in millions — Incentive fees were significantly lower, driven by
Slide 7: Assets Under Supervision
Assets Under Supervision 3,4 3,4 AUS Rollforward AUS Highlights n During the quarter, AUS increased $42 billion to a record $2.71 trillion $ in billions 2Q23 1Q23 2Q22 — Net market appreciation of $30 billion, driven by net appreciation in equity assets Beginning balance $ 2,672 $ 2,547 $ 2,394 — Lo
Slide 8: Asset & Wealth Management – Alternative Investments
Asset & Wealth Management – Alternative Investments 4 4 Alternative Investments AUS and Effective Fees Alternative Investments Highlights n 2Q23 Management and other fees from alternative investments were $521 million, up 12% compared with 2Q22 2Q23 n During the quarter, alternative investments AUS
Slide 9: Platform Solutions
Platform Solutions Financial Results Platform Solutions Highlights vs.n 2Q23 net revenues were higher YoY vs. vs. 2Q23 2Q22 — Consumer platforms primarily reflected significantly higher average credit card balances and $ in millions 2Q23 1Q23 2Q22 YTD YTD higher average point-of-sale loan balances —
Slide 10: Loans and Net Interest Income
Loans and Net Interest Income 4 4 Loans by Segment ($ in billions) Loans by Type 2Q23 Metrics $178 $178 $ in billions 2Q23 1Q23 2Q22 $176 3.0% ALLL to Total Corporate $ 38 $ 40 $ 41 Gross Loans, at Amortized Cost Commercial real estate 28 29 32 Global Banking Residential real estate 24 22 26 1.7% $1
Slide 11: Commercial Real Estate (CRE)
Commercial Real Estate (CRE) 4 4 2Q23 Firmwide Loans, Net of ALLL 2Q23 AWM On-Balance Sheet Alternative Investments $ in billions $ in billions CRE-related Office-related 2Q23 Warehouse / other indirect $11 Equity securities $ 4.2 $ 0.4 Industrials $4 Multifamily $3 $27 Hospitality $2 Loans (include
Slide 12: Expenses
Expenses Financial Results Expense Highlights n 2Q23 total operating expenses increased YoY vs. vs. vs. 2Q23 2Q22 — Non-compensation expenses were significantly higher, reflecting: 2Q23 1Q23 2Q22 YTD YTD $ in millions o An impairment of goodwill of $504 million related to Consumer platforms (in depr
Slide 13: Capital and Balance Sheet
Capital and Balance Sheet 3,4 3,4 Capital Capital and Balance Sheet Highlights n Standardized CET1 capital ratio increased slightly QoQ, primarily reflecting an increase in CET1 capital 2Q23 1Q23 4Q22 n Advanced CET1 capital ratio decreased slightly QoQ, primarily reflecting an increase in market St
Slide 14: 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 15: 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