May 13, 2020 / 6:18 PM / 16 days ago

Goldman Sachs's CFO calls exposure to energy, hotels, airlines sectors manageable

NEW YORK, May 13 (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)

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