Goldman Sachs plans to double loans to wealthy private banking clients.

Gelonghui Finance ·  Jun 13 22:33
On June 13th, Guosen Securities reported that the head of Goldman Sachs's private banking business stated that the bank plans to double loans to super-rich private banking clients with account balances exceeding 10 million US dollars in the next five years. Goldman Sachs hopes to provide more loans to wealthy individuals and families for large purchases such as luxury homes and sports teams as part of its strategy to strengthen its wealth management business. Goldman Sachs refused to quantify the total amount of loans it extended to wealthy clients, whose net assets are typically at least 30 million US dollars. The bank's outstanding loans in the first quarter were 33 billion US dollars, not including other undisclosed commitments; total deposits soared to 441 billion US dollars, of which more than 39% came from consumer accounts.

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