The giant investment bank reported profits of US$4.4 billion, up 12% from the year-ago period.

Investment banking fees came in at US$2.6 billion in the final three months of 2025, up 25% from the year-ago period, as Goldmann pointed to a “significant increase in completed mergers and acquisitions”.

The New York banking giant also scored double-digit increases in revenues for equities trading and fixed income, currency and commodities.

Overall revenues were US$13.5 billion, down 3% from the year-ago period, due largely to ending its credit card business with Apple.

However, Goldman’s profits were boosted by a US$2.1 billion accounting benefit from dropping the Apple credit card venture.

Goldman’s earnings per share topped analyst estimates, while revenues lagged projections.

“We continue to see high levels of client engagement across our franchise and expect momentum to accelerate in 2026,” said Goldman chief executive David Solomon.

Shares dipped 1.4% in pre-market trading.