Goldman says it is ahead of schedule on $5 billion revenue goal

FAN Editor
The Goldman Sachs company logo is seen in the company's space on the floor of the NYSE in New York
The Goldman Sachs company logo is seen in the company’s space on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., April 17, 2018. REUTERS/Brendan McDermid

November 5, 2018

By Matt Scuffham

(Reuters) – Goldman Sachs Group Inc <GS.N> is ahead of its goal to generate $5 billion in additional annual revenue by 2020, having already achieved half that amount in the first nine months of this year, the Wall Street bank said on Monday.

Goldman has made headway on plans to lend more to consumers and big businesses, and improve revenue from trading, investment banking and asset management, according to a presentation given by Chief Financial Officer Stephen Scherr at an industry conference in New York. The $5 billion target is “not the limit” of the bank’s ambitions, he said, citing other growth opportunities.

(Reporting by Matt Scuffham; Writing by Lauren Tara LaCapra; Editing by Chizu Nomiyama)

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