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)
