Results for the wealth management side of the business appeared to show a significant gain in the quarter from a year earlier, helped by rising market levels.

Goldman Sachs, which yesterday reported that it was buying a $7 billion venture capital business, also reported a 20 per cent year-on-year rise in net revenues in the third quarter of 2025, to $15.2 billion. 

Within wealth and asset management, total net revenues rose 17 per cent on a year earlier to $4.4 billion. Within that figure private banking/lending revenues rose 40 per cent to $1.057 billion, the US-listed firm said in a statement. 

The increase in management and other fees primarily reflected the impact of higher average assets under supervision, Goldman Sachs said. The rise in private banking and lending net revenues was mostly caused by the payment of interest on a previously impaired loan. 

Across the group, Goldman Sachs said revenues were $15.18 billion in the quarter, rising 20 per cent on a year before. Net earnings applicable to common shareholders rose by 39 per cent. 

At the end of the quarter, the firm said it had a Common Equity Tier 1 ratio, on a standardized basis, of 14.4 per cent, little changed from a year earlier. (The ratio is an international measure of a lender’s capital “shock absorber."