Finance Watch

Goldman Sachs Bank Is More Upbeat On Legal Expenses

Goldman Sachs Group Inc. lowered the top end of its range of "reasonably possible" legal expenses to about $2 billion, the Wall Street firm said Monday in a regulatory filing.

The estimate, which tracks potential losses above what already was set aside in reserves, was at about $5.3 billion in November.

Goldman also said its traders reported losses on 40 days during 2015. The firm had 15 such trading days during the fourth quarter. Goldman reported more than $100 million in trading revenue on 34 days during the year.

Justin Baer DBS Group Increase in Loans Boosts Net Profit

Singapore's DBS Group Holdings Ltd. said Monday its fourth-quarter net profit rose 19.6% year over year, helped by an increase in net interest income and net interest margin as the company issued more loans.

Net profit for the three months ended Dec. 31 was 1.002 billion Singapore dollars ($713 million), up from S$838 million a year earlier, DBS said in a statement to the Singapore Exchange.

The results were above analysts' expectations. The consensus forecast for fourth-quarter net profit was S$946 million, according to SP Global Market Intelligence.

Saurabh Chaturvedi Barclays A Top Banker in Asia Is Leaving Lender

Barclays PLC's co-head of investment banking in the Asia-Pacific region is leaving the firm, according to people familiar with the situation, the latest in a string of departures from the bank in Asia.

Patrick Kwan is departing this week, the people said. Reid Marsh, the other co-head of investment banking in the region, will become the sole head of the division.

Julie Steinberg

(END) Dow Jones Newswires

February 22, 2016 12:25 ET (17:25 GMT)

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