Less profit for Goldman Sachs

goldman sachs 150x100 Less profit for Goldman SachsLast quarter Goldman Sachs made 7 percent less profit than a year earlier.

Like the big peers Bank of America, JPMorgan Chase and Citigroup, the bank saw its income decrease from own trading.

Friday Goldman Sachs reported a net profit of $ 2.17 billion in the fourth quarter which was $ 2.33 billion a year earlier. This profit decline was not unexpected and was slightly narrower than analysts had predicted.

Like its competitors Goldman Sachs competed against the turmoil in the financial markets last quarter, which, among other things, turned into a huge drop in oil prices and ever lower interest rates on bonds.

Throughout 2014, Goldman Sachs posted a profit of $ 8.5 billion, compared to $ 8 billion in 2013. Given the changing economic and financial conditions these gains satisfied CEO Lloyd Blankfein.

He expects that conditions will improve in 2015 thanks to a further recovery of the international economy.