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Goldman Sachs 2012 revenues increases by 19% to $34.16bn

The Goldman Sachs Group has reported 19% increase in its revenues for the year 2012, which stood at $34.16bn, compared to $28.81bn during the same period a year ago.

For the year ended on 31 December 2012, its net earnings were $7.48bn, with an increase of 68% from $4.45bn during the comparable period earlier year.

Diluted earnings per common share were $14.13 against $4.51 during the year ago period. Return on average common shareholders’ equity (ROE) stood at 10.7% for 2012.

Goldman Sachs chairman and chief executive officer Lloyd Blankfein said amid challenging economic conditions last year, the strengths of its business model and client franchise, supported by its disciplined management, delivered solid performance to its shareholders.

Investment Banking net revenues were $4.93bn, up by 13% compared to $4.36bn, while Investing & Lending revenues increased by 175% to $5.89bn against $2.14bn during the corresponding period earlier year.

Net revenues in Institutional Client Services stood at $18.12bn, with an increase of 5%, from $17.28bn, while Investment Management revenues rose by 4% to $5.22bn compared to $5.03bn year-over-year.

Under the regulatory capital requirements currently applicable to bank holding companies, the firm’s Tier 1 capital ratio was 16.7% and the firm’s Tier 1 common ratio was 14.5%.

Established in 1869 and headquartered in New York, Goldman Sachs Group provides investment banking, securities and investment management services to corporations, financial institutions, governments and high-net-worth individuals.