(RTTNews) – Goldman Sachs Group Inc. is reported to purchase the general motors Co. (GM) credit card business.
According to WSJ, by mentioning other people familiar with the matter, Goldman Sachs is one of the few bidders to the auto giant’s credit card business, which has about $3 billion in unpaid balances.
Goldman has $2.3 billion in credit card loans lately, up from $1.9 billion earlier this year.
Last year, Goldman introduced a credit card with Apple Inc. (AAPL) in sync with Apple Wallet iPhone users.
Since taking over goldman Sachs, CEO David Solomon has increased the company’s franchise as the bank’s central investment and trading banking businesses continue to weaken.