US banking giant Goldman Sachs boasts best three month revenues in four years

Otmane El Rhazi from Mindful Money » Shares.

US investment banking giant Goldman Sachs has reported that quarterly revenues at the firm jumped to their highest level in four years during the first three months of 2015.

In its latest market update, the group announced it has witnessed net revenues rise to $10.62bn over the period – a 14% year-on-year rise, while net earnings came in at $2.84bn.

The bank’s investment banking arm saw net revenues rise to $1.91bn, its best three-month performance since 2007. The progress in the division not only marked a 7% increase higher on the first quarter of 2014 but a 32% hike on the final three months of last year.

But the top division over the period was market making, where net revenues came in at $3.93bn, up a massive 49% on the same period last year.

Goldman Sachs chairman and chief executive officer Lloyd C. Blankfein said: “We are pleased with our results this quarter and the fact that all of our major businesses contributed. Given more normalized markets and higher levels of client activity, we remain encouraged about the prospects for continued growth.”