Goldman Sachs Group has reported that its net profit for the third quarter of 2012 rose to $1.5bn (£930m), compared with a loss of £393m for the same period in 2011.
Net revenues, including net interest income, for the third quarter ended on 30 September 2012 more than doubled to $8.35bn from $3.6bn a year ago.
Diluted earnings per common share were $2.85 compared with a diluted loss per common share of $0.84 for the third quarter of 2011 and diluted earnings per common share of $1.78 for the second quarter of 2012.
Annualized return on average common shareholders’ equity (ROE) was 8.6% for the third quarter of 2012 and 8.8% for the first nine months of 2012.
The firm’s Tier 1 capital ratio under Basel 1 was 15.0% and the Tier 1 common ratio under Basel 1 was 13.1%, as of 30 September 2012.
Revenue from investment banking and bond underwriting and trading rose sharply compared to low performance last year, while the firm’s business lines, including equity and debt underwriting and fixed-income trading, were down from the second quarter.
Net revenues in Investment Banking were $1.16bn, 49% higher than the third quarter of 2011 and 3% lower than the second quarter of 2012.
Founded in 1869 and headquartered in New York, the global investment banking, securities and investment management firm serves a diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals.