Get all the latest news on coronavirus and more delivered daily to your inbox. Sign up here.
Continue Reading Below
Goldman Sachs Chief Financial Officer Stephen Scherr said on a call with investors on Wednesday that the bank’s lending to companies in the energy, hotel, gaming and airlines sectors does not present a “material risk” to the firm.
|GS||GOLDMAN SACHS GROUP INC.||235.40||-1.14||-0.48%|
Loans to companies in these sectors make up roughly 10% of the bank’s overall corporate lending, Scherr said. Nonetheless, Goldman has doubled provisioning for its loan exposure to oil and gas companies, he said.