Goldman Sachs Group, Inc. (the) · NYSE:GS
Goldman Sachs Group, Inc. (the) — The Goldman Sachs Group — Q2 2021 Earnings Presentation
17 slides from Goldman Sachs Group, Inc. (the)'s earnings presentation, Jul 13, 2021
Slide 1: Second Quarter 2021 Earnings Results Presentation
Second Quarter 2021 Earnings Results Presentation July 13, 2021
Slide 2: Results Snapshot
Results Snapshot Net Revenues Net Earnings EPS 2Q21 $15.39 billion 2Q21 $5.49 billion 2Q21 $15.02 2Q21 YTD $33.09 billion 2Q21 YTD $12.32 billion 2Q21 YTD $33.64 Annualized ROE1 Annualized ROTE1 Book Value 2Q21 23.7% 2Q21 25.1% BVPS $264.90 2Q21 YTD 27.3% 2Q21 YTD 28.9% YTD Growth 12.2% Highlights S
Slide 3: Macro Perspectives
Macro Perspectives Macro Factors Economic Fundamentals GDP Growth Amid Continued Reopenings Economic Growth Expected in 2021 and 2022 GDP Growth: U.S. Global Accommodative Monetary & Fiscal Policy 2021 | 2022 +6.8% | +4.7% +6.6% | +4.8% Improving Fundamentals in 2Q21 Inflation Pickup Expected to be
Slide 4: Financial Overview
Financial Overview Financial Results Financial Overview Highlights vs. $ in millions, vs. vs. 2Q21 2Q20 2Q21 results included EPS of $15.02 and ROE of 23.7% except per share amounts 2Q21 1Q21 2Q20 YTD YTD — 2Q21 net revenues were higher YoY, reflecting significantly higher net revenues in Asset Ma
Slide 5: Investment Banking
Investment Banking Financial Results Investment Banking Highlights vs. vs. vs. 2Q21 2Q20 2Q21 net revenues were significantly higher YoY $ in millions 2Q21 1Q21 2Q20 YTD YTD — Financial advisory net revenues reflected an increase in completed mergers and Financial advisory $ 1,257 13% 83% $ 2,374
Slide 6: Global Markets
Global Markets Financial Results Global Markets Highlights vs. vs. vs. 2Q21 2Q20 2Q21 net revenues were significantly lower YoY compared with a very strong 2Q20, $ in millions 2Q21 1Q21 2Q20 YTD YTD corresponding with lower activity in FICC. The prior year period reflected heightened volatility an
Slide 7: Global Markets – FICC & Equities
Global Markets – FICC & Equities FICC Net Revenues Equities Net Revenues vs. vs. vs. vs. 2Q21 2Q20 vs. vs. 2Q21 2Q20 $ in millions 2Q21 1Q21 2Q20 YTD YTD $ in millions 2Q21 1Q21 2Q20 YTD YTD FICC intermediation $ 1,897 -45% -50% $ 5,348 -15% Equities intermediation $ 1,765 -32% -20% $ 4,351 17% FICC
Slide 8: Asset Management
Asset Management Financial Results Asset Management Highlights vs. vs. vs. 2Q21 2Q20 2Q21 net revenues more than doubled YoY $ in millions 2Q21 1Q21 2Q20 YTD YTD — Management and other fees included higher average AUS and higher other fees, partially offset by fee waivers on money market funds Man
Slide 9: Asset Management – Asset Mix
Asset Management – Asset Mix Equity Investments of $21 billion4 Lending and Debt Investments of $31 billion4 $17 Billion Private, $4 Billion Public 7% 8% 13% By Vintage By Region 8% 29% 42% 53% 2018-present Americas By Industry $16 billion 32% 26% 12% Loan Portfolio 2015-2017 Asia Loans 26% 21% 2014
Slide 10: Asset Management – Harvesting Progress of Balance Sheet Equity Portfolio
Asset Management – Harvesting Progress of Balance Sheet Equity Portfolio Significant progress in asset sales, offset by mark-ups YTD Rollforward ($ in billions) ~$1.5 ~$5.0 $21 $20 ~$(5.5) Net Dispositions: ~$(4.0) 6 YE20 Equity Investments Mark-Ups Additions Dispositions 2Q21 Equity Investments 9
Slide 11: Consumer & Wealth Management
Consumer & Wealth Management Financial Results Consumer & Wealth Management Highlights vs. vs. vs. 2Q21 2Q20 2Q21 net revenues were a record and significantly higher YoY $ in millions 2Q21 1Q21 2Q20 YTD YTD — Wealth management net revenues primarily reflected the impact of higher average AUS and h
Slide 12: Asset Management and Consumer & Wealth Management Details
Asset Management and Consumer & Wealth Management Details Firmwide Assets Under Supervision3,4 Highlights3,4 $ in billions 2Q21 1Q21 2Q20 Firmwide AUS increased $101 billion during the quarter to a record $2.31 trillion, as Asset Management AUS increased $66 billion and Consumer & Wealth Managemen
Slide 13: Net Interest Income and Loans
Net Interest Income and Loans Net Interest Income by Segment ($ in millions) Loans4 Metrics $1,629 $ in billions 2Q21 1Q21 2Q20 $1,482 Corporate $ 48 $ 48 $ 59 2.7% $645 Wealth management 40 36 28 ALLL to Total Gross Loans, at $944 $638 Commercial real estate 20 21 17 Amortized Cost $118 $397 Reside
Slide 14: Expenses
Expenses Financial Results Expense Highlights vs. 2Q21 total operating expenses decreased YoY vs. vs. 2Q21 2Q20 $ in millions 2Q21 1Q21 2Q20 YTD YTD — Non-compensation expenses down 43%, reflecting: Compensation and benefits $ 5,263 -13% 18% $ 11,306 47% o Significantly lower net provisions for li
Slide 15: Capital and Balance Sheet
Capital and Balance Sheet Capital3,4 Capital and Balance Sheet Highlights $ in billions 2Q21 1Q21 2Q20 Standardized CET1 ratio increased QoQ, due to an increase in CET1 capital (reflecting net earnings in excess of share repurchases and dividends) partially offset by higher RWAs Common Equity Tier
Slide 16: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts or statements of current con
Slide 17: Footnotes
Footnotes 1. Annualized return on average common shareholders’ equity (ROE) is calculated by dividing annualized net earnings applicable to common shareholders by average monthly common shareholders’ equity. Annualized return on average tangible common shareholders’ equity (ROTE) is calculated by di
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