Goldman Sachs leads in a patchy year for foreign banks in Japan

Goldman Sachs reported a significant decline in profit for its Japanese securities arm last year, marking the steepest drop since 1987 as net income fell to ¥27.6 billion, down 30% from a record high in 2023. Meanwhile, banks like Barclays and Deutsche Bank saw their investment banking units suffer double-digit profit declines due to weak fixed-income trading performance, while Bank of America’s local arm returned to profitability, and UBS reported an 82% surge in net income.