Goldman Sachs and Citigroup have both reported disappointing profits today, as income comes under pressure from a fall in bond trading.
Goldman Sachs reported net earnings for Q4 of $2.33bn (£1.43bn), down 19% compared to the previous year, missing forecasts.
However, full-year net earnings rose 8% to $8.04bn on revenues of $34.2bn.
Chairman and chief executive Lloyd Blankfein said: “We believe that we are well positioned to generate solid returns as the economy continues to heal and provide considerable upside for our shareholders as conditions materially improve.”
Rival bank Citigroup also reported results, with its profits also hit by reduced income from bond trading.
Citigroup reported a net income of $2.6bn for the quarter, up from the $2.15bn reported a year earlier but below many analysts' expectations after a sharp fall in mortgage activity.
