Goldman Sach (GS) Earnings Q2 2010
Highlights:
- The firm continued its leadership in investment banking, ranking first in worldwide announced and completed mergers and acquisitions for the year-to-date.
- Despite the $1.15 billion of additional expenses related to the U.K. bank payroll tax and the SEC settlement, book value per common share and tangible book value per common share each increased 1 percent during the quarter to $123.73 and $112.82, respectively.
- The firm continues to manage its capital conservatively. The firm's Tier 1 capital ratio under Basel I was 15.2 percent as of June 30, 2010. The firm's Tier 1 common ratio under Basel I was 12.5 percent as of June 30, 2010.
- The firm's global core excess liquidity averaged $163 billion for the second quarter of 2010 and was $168 billion as of June 30, 2010.
- On July 15, 2010, the firm announced a settlement, subject to court approval, to resolve the SEC's pending case against Goldman, Sachs & Co., including the payment of $550 million.
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