Asset and wealth management net revenues rose 20 per cent year-on-year in Q2 this year to $4.60 billion. The increase reflected higher management and other fees, and higher net revenues in investments which were partly offset by lower net revenues in private banking and lending, the New York-listed group said in a statement this week.

The increase in management and other fees primarily reflected the impact of higher average assets under supervision. Goldmans said the fall in private banking and lending net revenues was caused by lower net interest margins related to deposits in its Marcus business channel, partially offset by higher average Marcus and private bank deposit balances.

At the group level, operating expenses were $11.67 billion for the second quarter of 2026, 26 per cent higher than the second quarter of 2025 and 12 per cent higher than the first quarter of 2026. Provision for credit losses was $102 million for the second quarter of 2026, compared with $384 million for the second quarter a year ago.

Total assets under supervision stood at $4.041 trillion at end-June, up from $3.293 trillion a year earlier.

On an annualized basis, Q2 return on equity was 23.5 per cent.

Shares in the US group are up about 19 per cent since the start of this year. 

At the end of 30 June, Goldman Sachs had a Common Equity Tier 1 ratio – a standard international measure of a bank’s capital shock absorber – of 13.7 per cent.