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Goldman Sachs’s CFO calls exposure to energy, hotels, airlines sectors manageable

  • May 13, 2020

NEW YORK (Reuters) – 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.

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.

Reporting By Elizabeth Dilts Marshall; Editing by Chizu Nomiyama

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