Goldman Sachs aims to double lending to ultra-wealthy private bank clients with $10m+ accounts by 2026.
Goldman Sachs plans to double its lending to ultra-wealthy private bank clients with $10m+ account sizes over the next five years, supporting wealth management operations by providing loans for luxury purchases. The bank's private banking chief, Nishi Somaiya, revealed the plans to Reuters. Goldman Sachs' private bank loans reached $33bn in Q1, with potential undisclosed commitments adding additional value.
June 13, 2024
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