Goldman Sachs Group, Inc. (the) · NYSE:GS
Goldman Sachs Group, Inc. (the) — Q3 2022 Earnings Presentation
21 slides from Goldman Sachs Group, Inc. (the)'s earnings presentation, Oct 18, 2022
Slide 1: Third Quarter 2022 Earnings Results Presentation
Exhibit 99.2 Third Quarter 2022 Earnings Results Presentation October 18, 2022
Slide 2: Results Snapshot
Results Snapshot Net Revenues Net Earnings EPS 3Q22 $11.98 billion 3Q22 $3.07 billion 3Q22 $8.25 3Q22 YTD $36.77 billion 3Q22 YTD $9.94 billion 3Q22 YTD $26.71 1 1 Annualized ROE Annualized ROTE Book Value Per Share 3Q22 11.0% 3Q22 12.0% 3Q22 $308.22 3Q22 YTD 12.2% 3Q22 YTD 13.1% YTD Growth 8.4% Hig
Slide 3: One Goldman Sachs Ethos Driving Outperformance
One Goldman Sachs Ethos Driving Outperformance 2 #1 Global Investment Bank World Class Active Asset Manager A Leading Global Markets Franchise Premier UHNW Wealth Manager Best-in-Class Share Gains and Growth Since Investor Day 2020 +320bps +320bps ~40% Investment Banking Global Markets BVPS Growth R
Slide 4: The Next Step in Our Strategic Evolution
The Next Step in Our Strategic Evolution Clear Strategic New Operating Segments Direction Grow and Strengthen Existing Businesses Asset & Wealth Global Banking Platform Management & Markets Solutions Diversify our Products and Services Fully scaled and integrated Driving industry-leading Embedding d
Slide 5: Platform Solutions: Embedding Best-in-Class Financial Products in Clients' Ecosystems
Platform Solutions: Embedding Best-in-Class Financial Products in Clients’ Ecosystems Platform Solutions Consumer Partnerships Transaction Banking + GreenSky Enhancing our focus on building platforms that deliver digital financial services to corporate and institutional clients 4
Slide 6: We Have Made Significant Progress Building Our Consumer Franchise
We Have Made Significant Progress Building Our Consumer Franchise $110bn+ ~$19bn 15mm+ deposits loans active customers As of 3Q22 +95% $2.2bn 3Q22 YoY net revenue growth LTM net revenues 5
Slide 7: Purposeful Shift in Our Customer Acquisition Strategy
Purposeful Shift in Our Customer Acquisition Strategy Forward Direct-to-Consumer Strategy ~500 Companies served Consumer Workplace & ~60% Banking Personal Wealth Fortune 100 Products 9mm+ Eligible employees 6
Slide 8: Amplifying Our Strengths and Unlocking Shareholder Value
Amplifying Our Strengths and Unlocking Shareholder Value Clear Strategic Our Key Priorities Direction Grow and Strengthen 1 2 3 Existing Businesses Maximize wallet Scale Platform Grow management Diversify our Products share and grow Solutions to deliver fees and Services financing activities pre-tax
Slide 9: Financial Overview
Financial Overview Financial Results Financial Overview Highlights vs. n 3Q22 results included EPS of $8.25 and ROE of 11.0% vs. vs. 3Q22 3Q21 $ in millions, except per share amounts 3Q22 2Q22 3Q21 YTD YTD — 3Q22 net revenues were lower compared with a strong 3Q21 o Significantly lower net revenues
Slide 10: Investment Banking Financial Results
Investment Banking Financial Results Investment Banking Highlights vs. n 3Q22 net revenues were significantly lower compared with a strong 3Q21 vs. vs. 3Q22 3Q21 $ in millions 3Q22 2Q22 3Q21 YTD YTD — Financial advisory net revenues reflected a significant decline in industry-wide completed mergers
Slide 11: Global Markets Financial Results
Global Markets Financial Results Global Markets Highlights vs. n 3Q22 net revenues were higher YoY vs. vs. 3Q22 3Q21 $ in millions 3Q22 2Q22 3Q21 YTD YTD — FICC net revenues reflected significantly higher net revenues in both intermediation and financing FICC $ 3,525 (2)% 41% $ 11,855 36% — Equities
Slide 12: Global Markets – FICC & Equities
Global Markets – FICC & Equities FICC Net Revenues Equities Net Revenues vs. vs. vs. vs. 3Q22 3Q21 vs. vs. 3Q22 3Q21 $ in millions 3Q22 2Q22 3Q21 YTD YTD $ in millions 3Q22 2Q22 3Q21 YTD YTD FICC intermediation $ 2,800 (1)% 40% $ 9,677 32% Equities intermediation $ 1,549 (11)% (19)% $ 5,444 (13)% FI
Slide 13: Asset Management Financial Results
Asset Management Financial Results Asset Management Highlights vs. n 3Q22 net revenues were significantly lower YoY reflecting significantly lower net revenues in vs. vs. 3Q22 3Q21 Equity investments and Lending and debt investments $ in millions 3Q22 2Q22 3Q21 YTD YTD — Management and other fees re
Slide 14: Asset Management – Asset Mix
Asset Management – Asset Mix 5 5 Equity Investments of $16 billion Lending and Debt Investments of $24 billion ~$13 billion Private, ~$3 billion Public 4% 4% 17% 7% By Vintage By Region 27% 10% 45% 66% 2019-thereafter Americas By Industry Loan Portfolio $12 billion 25% 18% Loans 11% 2016-2018 Asia 3
Slide 15: Consumer & Wealth Management Financial Results
Consumer & Wealth Management Financial Results Consumer & Wealth Management Highlights vs. n 3Q22 net revenues were a record and higher YoY vs. vs. 3Q22 3Q21 $ in millions 3Q22 2Q22 3Q21 YTD YTD — Wealth management net revenues were essentially unchanged o Management and other fees were essentially
Slide 16: Asset Management and Consumer & Wealth Management Details
Asset Management and Consumer & Wealth Management Details 4,5 4,5 Firmwide Assets Under Supervision Highlights n Firmwide AUS decreased $68 billion during the quarter, as Asset Management AUS decreased $ in billions 3Q22 2Q22 3Q21 $64 billion and Consumer & Wealth Management AUS decreased $4 billion
Slide 17: Net Interest Income and Loans
Net Interest Income and Loans 5 Net Interest Income by Segment ($ in millions) Loans Metrics $ in billions 3Q22 2Q22 3Q21 Corporate $ 63 $ 62 $ 54 $2,043 2.9% ALLL to Total Wealth management 50 48 42 $1,734 Gross Loans, at $1,564 Amortized Cost Commercial real estate 26 28 22 $1,208 $974 $690 Reside
Slide 18: Expenses Financial Results
Expenses Financial Results Expense Highlights vs. n 3Q22 total operating expenses increased YoY vs. vs. 3Q22 3Q21 — Compensation and benefits expenses were higher, reflecting a smaller reduction in the 3Q22 2Q22 3Q21 YTD YTD $ in millions year-to-date ratio of compensation and benefits to net revenu
Slide 19: Capital and Balance Sheet
Capital and Balance Sheet 4,5 Capital Capital and Balance Sheet Highlights n Both Standardized and Advanced CET1 capital ratios increased QoQ $ in billions 3Q22 2Q22 3Q21 — CET1 capital increased, reflecting net earnings in excess of share repurchases and Common Equity Tier 1 (CET1) capital $ 98.7 $
Slide 20: 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 21: 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