Goldman Sachs raises its key medium-term profitability target | photo credits: shutterstock
NEW YORK, Feb 17 (Reuters) – Goldman Sachs on Thursday raised its key medium-term profitability target and said it would hit its efficiency rate target in 2022 as part of an update to its plan. strategic.
The leading US investment bank has also set new targets for bank deposits and fees from its wealth management activities.
The bank expects to achieve a tangible equity ratio (RoTE) between 15% and 17% in the medium term, against a previous target of 14%. The return on equity is expected between 14% and 16%, against 13% initially forecast.
“We believe we have the right plan in place that will allow us to serve clients, sustain returns and unlock significant value for our shareholders,” Chief Executive David Salomon said in a presentation at the Credit Suisse Financial Services forum. in Florida (USA).
Goldman Sachs has also introduced a new annual revenue target for its Consumer division, which should exceed $4 billion by 2024. (Reporting by Matt Scuffham, Blandine Hénault for the French version, editing by Matthieu Protard)