Oct 17 - Goldman Sachs' third-quarter profit dropped less than expected as a nascent recovery in dealmaking offset the $864 million writedown related to GreenSky fintech business and investments in real estate.
The share sales sparked optimism about a recovery in IPO market, but poor performance after debuts and the lukewarm reception to Germany's sandal maker Birkenstock have raised doubts. The bank took a $506 million writedown on GreenSky, which facilitates home improvement loans for consumers and was sold to a consortium of investment firms led by Sixth Street Partners.
That weighed on revenue from its asset and wealth management unit, which slipped 20% to $3.23 billion.
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