Goldman Sachs Group, Inc. (the) · NYSE:GS
Goldman Sachs Group, Inc. (the) — Q1 2021 Earnings Presentation
16 slides from Goldman Sachs Group, Inc. (the)'s earnings presentation, Apr 14, 2021
Slide 1: First Quarter 2021 Earnings Results Presentation
Exhibit 99.2 First Quarter 2021 Earnings Results Presentation April 14, 2021
Slide 2: Results Snapshot
Results Snapshot Net Revenues Net Earnings EPS 1Q21 $17.70 billion 1Q21 $6.84 billion 1Q21 $18.60 1 1 Annualized ROE Annualized ROTE Book Value BVPS $250.81 1Q21 31.0% 1Q21 32.9% YTD Growth 6.2% Highlights Record quarterly net revenues and diluted EPS Record Asset Management net revenues Highest qua
Slide 3: Macro Perspectives
Macro Perspectives Macro Factors Economic Fundamentals Economic Growth Expected in 2021 and 2022 Continued Monetary & Fiscal Stimulus GDP Growth: U.S. Global 2021 | 2022 +7.2% | +4.9% +6.7% | +4.7% COVID-19 Vaccine Rollout Improving Fundamentals Declining U.S. Increasing Rising CEO Increasing Confid
Slide 4: Financial Overview
Financial Overview Financial Results Financial Overview Highlights n 1Q21 results included record EPS of $18.60 and ROE of 31.0% $ in millions, vs. vs. except per share amounts 1Q21 4Q20 1Q20 — 1Q21 net revenues were significantly higher YoY, reflecting higher net revenues across all segments Invest
Slide 5: Investment Banking
Investment Banking Financial Results Investment Banking Highlights vs. vs.n 1Q21 net revenues were significantly higher YoY $ in millions 1Q21 4Q20 1Q20 — Financial advisory net revenues reflected a significant increase in completed mergers and acquisitions transactions Financial advisory $ 1,117 2%
Slide 6: Global Markets
Global Markets Financial Results Global Markets Highlights vs. vs. n 1Q21 net revenues were significantly higher YoY $ in millions 1Q21 4Q20 1Q20 — FICC net revenues reflected significantly higher intermediation net revenues, while financing net revenues were essentially unchanged FICC $ 3,893 107%
Slide 7: Global Markets – FICC & Equities
Global Markets – FICC & Equities FICC Net Revenues Equities Net Revenues vs. vs. vs. vs. $ in millions $ in millions 1Q21 4Q20 1Q20 1Q21 4Q20 1Q20 $ 2,586 44% 69% FICC intermediation $ 3,451 130% 36% Equities intermediation Equities financing 1,102 86% 65% FICC financing 442 16% 2% $ 3,893 107% 31%
Slide 8: Asset Management
Asset Management Financial Results Asset Management Highlights vs. vs.n 1Q21 net revenues were significantly higher YoY, primarily reflecting significant net gains from $ in millions investments, compared with net losses in the prior year period due to a challenging operating 1Q21 4Q20 1Q20 environm
Slide 9: Asset Management – Asset Mix
Asset Management – Asset Mix 4 4 Equity Investments of $20 billion Lending and Debt Investments of $31 billion $17 Billion Private, $3 Billion Public 5% 11% 8% By Vintage By Region 8% 33% 31% 48% 2018-present Americas 8% By Industry Loan Portfolio $16 billion 38% 31% Loans 2015-2017 Asia 31% 21% $15
Slide 10: Consumer & Wealth Management
Consumer & Wealth Management Financial Results Consumer & Wealth Management Highlights vs. vs.n 1Q21 net revenues were higher YoY $ in millions 1Q21 4Q20 1Q20 — Wealth management net revenues were higher Management and other fees $ 1,077 4% 12% o Management and other fees reflected the impact of hig
Slide 11: Asset Management and Consumer & Wealth Management Details
Asset Management and Consumer & Wealth Management Details 2,4 2,4 Firmwide Assets Under Supervision Assets Under Supervision Highlights vs. vs. $ in billions 1Q21 4Q20 1Q20 4Q20 1Q20 n Firmwide AUS increased $59 billion during the quarter to a record $2.20 trillion, as Asset Management AUS increased
Slide 12: Net Interest Income and Loans
Net Interest Income and Loans 4 Loans Net Interest Income by Segment ($ in millions) Metrics $1,482 $1,410 $ in billions 1Q21 4Q20 1Q20 $1,313 Corporate $ 48 $ 49 $ 68 3.3% $638 36 33 29 ALLL to Total Wealth management $618 $493 Gross Loans, at Amortized Cost Commercial real estate 21 20 17 $183 $94
Slide 13: Expenses
Expenses Expense Highlights Financial Results n 1Q21 total operating expenses increased significantly YoY vs. vs. 1Q21 4Q20 1Q20 $ in millions — Compensation and benefits expenses up 87% (reflecting strong performance) — Non-compensation expenses up 5%, reflecting: Compensation and benefits $ 6,043
Slide 14: Capital and Balance Sheet
Capital and Balance Sheet 2,4 Capital Capital and Balance Sheet Highlights n Standardized CET1 ratio decreased QoQ reflecting higher credit and market RWAs driven by 1Q21 4Q20 1Q20 $ in billions increased exposure Common Equity Tier 1 (CET1) capital $ 85.2 $ 81.6 $ 74.6 n Advanced CET1 ratio increas
Slide 15: 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 16: 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