Goldman in Talks to Expand Its Marcus Retail Bank Into Ireland
Goldman Sachs Group Inc. has held talks with regulators about an Irish launch of its retail bank Marcus, a move that could shake up the country's heavily concentrated market and give the Wall Street giant access to tens of billions of euros in deposits.
The early-stage discussions took place in recent months and Ireland was one of the locations being considered for widening Marcus' footprint, according to people familiar with the deliberations. Another potential geography is Germany, where Goldman had intended to launch in 2019, the people said, asking not to be identified because the matter is private. No decision has been taken yet, they added.
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Operations: Yü Group PLC generates revenue primarily from its Retail segment, contributing £645.26 million, followed by the Smart segment at £12.73 million and Metering Assets at £0.66 million. The company also engages in intra-segment trading, resulting in a deduction of £13.20 million from total revenues. Yü Group, a promising player in the UK energy sector, has shown robust earnings growth of 8.6%, outpacing the Renewable Energy industry's -6.3%. Over five years, its debt to equity ratio rose from 0% to 7.1%, yet it remains financially sound with more cash than total debt and positive free cash flow. Trading at a discount of 34.7% below estimated fair value, it offers good relative value against peers. Recent results highlight sales jumping to £645 million from £460 million last year and net income reaching £33.5 million, alongside an increased dividend payout aligning with their progressive policy. Click here and access our complete health analysis report to understand the dynamics of Yü Group. Learn about Yü Group's historical performance. Simply Wall St Value Rating: ★★★★★☆ Overview: Cairn Homes plc is a homebuilder operating in Ireland with a market cap of £1.20 billion. Operations: Cairn Homes generates revenue primarily from building and property development, totaling €859.87 million. The company's financial performance is influenced by its cost structure and market conditions in the Irish housing sector. Cairn Homes, a key player in Ireland's housing sector, is leveraging strategic land acquisitions and efficient construction methods to bolster profitability. The company's earnings grew by 34% over the past year, outpacing the Consumer Durables industry which saw a 12% decline. With its debt-to-equity ratio rising from 19.4% to 24% over five years, Cairn's net debt level remains satisfactory at 20.4%. 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Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include AIM:FTC AIM:YU. and LSE:CRN. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
