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This statistic highlights Goldman Sachs’ Credit Card Lending, reported on a quarterly basis from 2019 onwards.
Goldman Sachs’ Credit Card Lending
Goldman Sachs is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments, and individuals.
Period | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 |
Credit card lending | $10.59 | $11.84 | $13.69 | $15.28 | $15.56 |
(All figures are in billions)
Credit Card Lending
When money is given to people or businesses via credit cards, this practice is referred to as credit card lending. A credit card customer effectively borrows money from the credit card company to complete a transaction when they use their card to make a purchase. Revolving credit is a feature of credit card financing, which means that after the borrower pays back the money they borrowed, their available credit is restored and they can make more purchases up to their credit limit. The issuer normally establishes a minimum payment due each month, but cardholders have the option to pay a full payment or a partial payment, in which case interest is charged to the amount left outstanding.
From Q4 2019 onward, Goldman Sachs’ credit card lending has steadily risen. Credit card lending was $10.59 billion in Q1 2022 and grew to $11.84 billion in Q2 2022, representing an increase of around 12% on a quarterly basis. Additionally, it climbed by 15.62% from Q2 2022 to Q3 2022, reaching $13.69 billion. With an increase of 11.62% from Q3 to Q4 of 2022, credit card lending totaled $15.28 billion. Credit card lending grew to 15.56 million in Q1 2023, rising barely 1.83% from the prior quarter.
About The Goldman Sachs Group, Inc.
Goldman Sachs offers a wide range of financial services to enterprises, governments, financial institutions, and high-net-worth individuals. Investment banking, asset management, securities trading, and securities underwriting are some of its primary services. A global provider of financial services and investment banking, Goldman Sachs is based in New York City. In 1869, it was founded.
The investment banking branch of Goldman Sachs is well known for providing advisory services for M&A, capital raising through debt and equity offerings, restructuring, and other financial transactions. It helps customers access capital markets and supports their strategic decision-making across a range of industries.
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