Goldman Sachs Group, Inc. (the) · NYSE:GS
Goldman Sachs Group, Inc. (the) — Q3 2023 Earnings Presentation
15 slides from Goldman Sachs Group, Inc. (the)'s earnings presentation, Oct 17, 2023
Slide 1: Third Quarter 2023 Earnings Results Presentation
Exhibit 99.2 Third Quarter 2023 Earnings Results Presentation October 17, 2023
Slide 2: Results Snapshot
Results Snapshot Net Revenues Net Earnings EPS 3Q23 $11.82 billion 3Q23 $2.06 billion 3Q23 $5.47 3Q23 YTD $34.94 billion 3Q23 YTD $6.51 billion 3Q23 YTD $17.39 1 1 Annualized ROE Annualized ROTE Book Value Per Share 3Q23 7.1% 3Q23 7.7% 3Q23 $313.83 3Q23 YTD 7.6% 3Q23 YTD 8.2% YTD Growth 3.4% 5 Highl
Slide 3: Financial Overview
Financial Overview Financial Results Financial Overview Highlights vs.n 3Q23 results included EPS of $5.47 and ROE of 7.1% vs. vs. 3Q23 3Q22 $ in millions, — 3Q23 net revenues were essentially unchanged YoY reflecting significantly lower net except per share amounts 3Q23 2Q23 3Q22 YTD YTD revenues i
Slide 4: Global Banking & Markets Financial Results
Global Banking & Markets Financial Results Global Banking & Markets Highlights vs.n 3Q23 net revenues were higher YoY vs. vs. 3Q23 3Q22 — Investment banking fees reflected higher net revenues in Debt underwriting and Equity $ in millions 3Q23 2Q23 3Q22 YTD YTD underwriting, offset by lower net reven
Slide 5: Global Banking & Markets – Net Revenues
Global Banking & Markets – Net Revenues Net Revenues Global Banking & Markets Net Revenues Highlights vs.n 3Q23 Investment banking fees were essentially unchanged YoY vs. vs. 3Q23 3Q22 — Advisory reflected a decline in completed mergers and acquisitions transactions $ in millions 3Q23 2Q23 3Q22 YTD
Slide 6: Asset & Wealth Management Financial Results
Asset & Wealth Management Financial Results Asset & Wealth Management Highlights vs.n 3Q23 net revenues were significantly lower YoY vs. vs. 3Q23 3Q22 — Record Management and other fees primarily reflected the impact of higher average AUS $ in millions 3Q23 2Q23 3Q22 YTD YTD — Private banking and le
Slide 7: Asset & Wealth Management – Assets Under Supervision
Asset & Wealth Management – Assets Under Supervision 3,4 3,4 AUS Rollforward AUS Highlights n During the quarter, AUS decreased $34 billion to $2.68 trillion $ in billions 3Q23 2Q23 3Q22 — Long-term net inflows of $7 billion, primarily in fixed income assets Beginning balance $ 2,714 $ 2,672 $ 2,495
Slide 8: Asset & Wealth Management – Alternative Investments
Asset & Wealth Management – Alternative Investments 4 4 Alternative Investments AUS and Effective Fees Alternative Investments Highlights n 3Q23 Management and other fees from alternative investments were $542 million, up 12% compared with 3Q22 3Q23 n Alternative investments AUS ended the quarter at
Slide 9: Platform Solutions Financial Results
Platform Solutions Financial Results Platform Solutions Highlights vs.n 3Q23 net revenues were higher YoY vs. vs. 3Q23 3Q22 — Consumer platforms primarily reflected significantly higher average credit card balances, $ in millions 3Q23 2Q23 3Q22 YTD YTD partially offset by lower net revenues from the
Slide 10: Loans and Net Interest Income
Loans and Net Interest Income 4 4 Loans by Segment ($ in billions) Loans by Type 3Q23 Metrics $178 $178 $ in billions 3Q23 2Q23 3Q22 $177 2.9% ALLL to Total Corporate $ 37 $ 38 $ 40 Gross Loans, at Amortized Cost Commercial real estate 26 28 30 Residential real estate 24 24 24 1.7% $109 $107 $110 Gl
Slide 11: Commercial Real Estate (CRE)
Commercial Real Estate (CRE) 4 4 3Q23 Firmwide Loans, Net of ALLL 3Q23 AWM On-Balance Sheet Alternative Investments $ in billions $ in billions CRE-related Office-related 3Q23 Warehouse / other indirect $10 Loans (included in firmwide loans) $ 2.1 $ 0.2 Industrials $3 Multifamily $3 $xx $25 Hospital
Slide 12: Expenses
Expenses Financial Results Expense Highlights n 3Q23 total operating expenses increased YoY vs. vs. vs. 3Q23 3Q22 — Compensation and benefits expenses were higher, reflecting an increase in 3Q23 in the 3Q23 2Q23 3Q22 YTD YTD $ in millions year-to-date ratio of compensation and benefits to net revenu
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 decreased slightly QoQ, primarily reflecting an increase in credit RWAs on increased exposures, partially offset by a decrease in market RWAs on reduced 3Q23 2Q23 4Q22 exposures Standardi
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