**Goldman Sachs Reports Strong 2025 Financial Results Driven by Global Banking & Markets**

Goldman Sachs Group Inc. reported its financial results for the fiscal year ended December 31, 2025, showcasing a net earnings of $17.18 billion, a notable increase from $14.28 billion in 2024. This translated to a diluted earnings per common share (EPS) of $51.32, up from $40.54 in the previous year. The company's return on average common shareholders' equity (ROE) also improved to 15.0% compared to 12.7% in 2024. As of the end of 2025, the book value per common share stood at $357.60, marking a 6.2% increase from the previous year.

The firm's total net revenues for 2025 reached $58.28 billion, reflecting a 9% increase compared to $53.51 billion in 2024. This growth was primarily fueled by strong performance in the Global Banking & Markets segment, which saw higher revenues from investment banking fees, and fixed income, currency and commodities (FICC) and equities intermediation and financing activities. However, this was partially offset by a significant decrease in net revenues from the Platform Solutions segment, primarily due to markdowns on the Apple Card program. The provision for credit losses showed a net benefit of $1.11 billion, a stark contrast to the $1.35 billion in net provisions recorded in 2024, largely due to the Apple Card loan portfolio transfer.

Strategic developments during the year included changes to the firm's business segments, with the transaction banking business moving to Global Banking & Markets and a shift towards third-party funds in Asset & Wealth Management. The company also entered into an agreement to transition the Apple Card program to another issuer, expected to be completed within 24 months, and sold the General Motors (GM) credit card program. These actions reflect a narrowing of focus on consumer-related activities. The firm also announced a strategic collaboration with T. Rowe Price to deliver diversified investment solutions.

Operationally, Goldman Sachs reported a global headcount of 47,400 as of December 2025, with a strategic distribution of employees across the Americas (50%), Europe, Middle East and Africa (20%), and Asia (30%). The firm continued to invest in strategic locations, with 45% of employees working in these locations. The company also emphasized its commitment to sustainability, having met its 2019 goal to deploy $750 billion in sustainable financing, investing, and advisory activity by the beginning of 2030. Looking ahead, the firm is targeting ROE within a range of 14% to 16% and ROTE within a range of 15% to 17%, and is targeting to grow its total credit alternative assets to $750 billion by the end of 2028.

About GOLDMAN SACHS GROUP INC

Goldman Sachs is a leading global financial services firm providing investment banking, asset and wealth management, and platform solutions. It offers advisory, underwriting, market-making, trading, private banking, and consumer banking services. Serving corporations, governments, institutions, and individuals worldwide, it leverages its expertise, extensive client relationships, and innovative financial products to support economic growth and financial opportunity. Its core value lies in delivering comprehensive, client-centric financial solutions across markets.

This description was generated via AI from an annual report. Updated 8 months ago.

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