US banks' profits beat forecasts
Two major Wall Street banks have reported better-than-expected profits between July and September.
Goldman Sachs’ profits for the period were $3.19bn (£1.96bn), a four-fold increase from the same period in 2008.
It has set aside $5.35bn to cover pay and bonuses for the quarter, an average payout of $172,581 per worker.
Citigroup’s profits also grew, but the much lower figure of $101m reflected the impact of the recession on its High Street banking operation.