Goldman Sachs Group, Inc. (the) · NYSE:GS
Goldman Sachs Group, Inc. (the) — Q2 2021 Earnings Presentation
17 slides from Goldman Sachs Group, Inc. (the)'s earnings presentation, Jul 13, 2021
Slide 1: Second Quarter 2021 Earnings Results Presentation
Exhibit 99.2 Second Quarter 2021 Earnings Results Presentation July 13, 2021Exhibit 99.2 Second Quarter 2021 Earnings Results Presentation July 13, 2021
Slide 2: Results Snapshot
Results Snapshot Net Revenues Net Earnings EPS 2Q21 $5.49 billion 2Q21 $15.02 2Q21 $15.39 billion 2Q21 YTD $12.32 billion 2Q21 YTD $33.64 2Q21 YTD $33.09 billion 1 1 Annualized ROE Annualized ROTE Book Value 2Q21 23.7% 2Q21 25.1% BVPS $264.90 2Q21 YTD 27.3% 2Q21 YTD 28.9% YTD Growth 12.2% Highlights
Slide 3: Macro Perspectives
Macro Perspectives Macro Factors Economic Fundamentals Economic Growth Expected in 2021 and 2022 GDP Growth Amid Continued Reopenings GDP Growth: U.S. Global Accommodative Monetary & Fiscal Policy 2021 | 2022 +6.8% | +4.7% +6.6% | +4.8% Improving Fundamentals in 2Q21 Inflation Pickup Expected to be
Slide 4: Financial Overview
Financial Overview Financial Results Financial Overview Highlights vs. n 2Q21 results included EPS of $15.02 and ROE of 23.7% $ in millions, vs. vs. 2Q21 2Q20 except per share amounts 2Q21 1Q21 2Q20 YTD YTD — 2Q21 net revenues were higher YoY, reflecting significantly higher net revenues in Asset Ma
Slide 5: Investment Banking Financial Results
Investment Banking Financial Results Investment Banking Highlights vs. n 2Q21 net revenues were significantly higher YoY vs. vs. 2Q21 2Q20 $ in millions 2Q21 1Q21 2Q20 YTD YTD — Financial advisory net revenues reflected an increase in completed mergers and acquisitions transactions Financial advisor
Slide 6: Global Markets Financial Results
Global Markets Financial Results Global Markets Highlights vs. vs. vs. 2Q21 2Q20n 2Q21 net revenues were significantly lower YoY compared with a very strong 2Q20, $ in millions corresponding with lower activity in FICC. The prior year period reflected heightened volatility 2Q21 1Q21 2Q20 YTD YTD and
Slide 7: Global Markets – FICC & Equities
Global Markets – FICC & Equities FICC Net Revenues Equities Net Revenues vs. vs. vs. vs. 2Q21 2Q20 vs. vs. 2Q21 2Q20 $ in millions $ in millions 2Q21 1Q21 2Q20 YTD YTD 2Q21 1Q21 2Q20 YTD YTD $ 1,765 -32% -20% $ 4,351 17% FICC intermediation $ 1,897 -45% -50% $ 5,348 -15% Equities intermediation Equi
Slide 8: Asset Management Financial Results
Asset Management Financial Results Asset Management Highlights vs. n 2Q21 net revenues more than doubled YoY vs. vs. 2Q21 2Q20 $ in millions 2Q21 1Q21 2Q20 YTD YTD — Management and other fees included higher average AUS and higher other fees, partially offset by fee waivers on money market funds Man
Slide 9: Asset Management – Asset Mix
Asset Management – Asset Mix 4 4 Equity Investments of $21 billion Lending and Debt Investments of $31 billion $17 Billion Private, $4 Billion Public 7% 13% 8% By Vintage By Region 29% 8% 42% 53% 2018-present Americas By Industry Loan Portfolio $16 billion 32% 26% 12% Loans 2015-2017 Asia 26% 21% $1
Slide 10: Asset Management – Harvesting Progress of Balance Sheet Equity Portfolio
Asset Management – Harvesting Progress of Balance Sheet Equity Portfolio Significant progress in asset sales, offset by mark-ups YTD Rollforward ($ in billions) ~ ~$1. $1.5 5 ~ ~$5. $5.0 0 $21 $20 $20 ~$(5.5) Net Dispositions: ~$(4.0) 6 YE20 Equity Investments Mark-Ups Additions Dispositions 2Q21 Eq
Slide 11: Consumer & Wealth Management Financial Results
Consumer & Wealth Management Financial Results Consumer & Wealth Management Highlights vs. n 2Q21 net revenues were a record and significantly higher YoY vs. vs. 2Q21 2Q20 $ in millions 2Q21 1Q21 2Q20 YTD YTD — Wealth management net revenues primarily reflected the impact of higher average AUS and h
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 $ in billions 2Q21 1Q21 2Q20 n Firmwide AUS increased $101 billion during the quarter to a record $2.31 trillion, as Asset Management AUS increased $66 billion and Consumer & Wealth Managem
Slide 13: Net Interest Income and Loans
Net Interest Income and Loans 4 Loans Net Interest Income by Segment ($ in millions) Metrics $ in billions 2Q21 1Q21 2Q20 $1,629 $1,482 Corporate $ 48 $ 48 $ 59 2.7% 40 36 28 ALLL to Total Wealth management $645 Gross Loans, at $944 $638 Amortized Cost Commercial real estate 20 21 17 $118 12 9 5 Res
Slide 14: Expenses Financial Results
Expenses Financial Results Expense Highlights vs. n 2Q21 total operating expenses decreased YoY vs. vs. 2Q21 2Q20 2Q21 1Q21 2Q20 YTD YTD $ in millions — Non-compensation expenses down 43%, reflecting: o Significantly lower net provisions for litigation and regulatory proceedings (net Compensation an
Slide 15: Capital and Balance Sheet
Capital and Balance Sheet 3,4 Capital Capital and Balance Sheet Highlights n Standardized CET1 ratio increased QoQ, due to an increase in CET1 capital (reflecting net 2Q21 1Q21 2Q20 $ in billions earnings in excess of share repurchases and dividends) partially offset by higher RWAs Common Equity Tie
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