At Goldman Sachs, loan-loss provisions top $1bn

Loans up 11% in 2019, but provisions for credit losses surge 59%

Consumer loans are piling up at Goldman Sachs – but so are the costs of holding them.

Provisions for credit losses at the New York-based lender were $1.1 billion for 2019, up 59% on 2018. Of this amount, $336 million were incurred in the fourth quarter alone, compared to $222 million in Q4 2018.

Total loans grew at a slower pace than provisions over the year, by 11% to $109 billion.

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