Its profit attributable to common shareholders rises to US$4.4 billion in Q4, from US$3.9 billion a year before.

Goldman Sachs’ profit rose in the fourth quarter, fuelled by dealmaking, stronger trading revenues in a turbulent market and a one-time gain from exiting its credit card partnership with Apple.

The bank’s equity traders capitalised on volatility and a broader rally in the US market, as investors speculated on the US Federal Reserve’s interest-rate path and the prospects for artificial intelligence (AI) companies.

Goldman’s equity revenue rose to US$4.3 billion, up from US$3.5 billion the year before, while trading revenue for fixed income, currencies and commodities climbed 12.5 per cent to US$3.1 billion.

The bank struck a deal with JPMorgan Chase to take over its Apple Card partnership, and Goldman expected a US$0.46 per share increase in its results due to the exit.

Its profit attributable to common shareholders rose to US$4.4 billion in the fourth quarter, or US$14.01 per share, against US$3.9 billion, or US$11.95 per share, a year before.