The effects of a series of bank failures in the United States are beginning to be felt in some financial institutions' financial results.
U.S. financial giant Goldman Sachs' final profit fell 3% in the three months to last month due to a drop in bond and stock trading income against the backdrop of financial instability.

According to Goldman Sachs' financial results for the three months from January to March announced on January 18, final profit was 1.3 billion dollars, or about 3 billion yen in Japan yen, down 18% from the same period last year.

The reason for the decline in profits was a decline in trading income on bonds and stocks in March due to market instability caused by a series of bank bankruptcies.

Revenues from the investment banking division, which advises on mergers and acquisitions, also weakened.

At the earnings call, Solomon said, "The worst market volatility seems to have passed," but he warned that "the risk of a credit crunch is increasing," referring to banks' cautious approach to lending.

In addition, four major banks, including JPMorgan Chase, reported strong earnings in the three months to March, but their total expenses for bad debts increased 4.3 times compared to the same period last year, showing that they are bracing for the aftermath of financial instability and economic slowdown.