Goldman Sachs Group, a leading financial institution, has said that its net income fell around 19 per cent as the company said that its revenue from fixed income, currencies and commodities trading fell during the fourth quarter.

Goldman posted net income of $2.33 billion compared to net income of $2.89 billion.  The company also said that per-share earnings were $4.60, while net revenue fell 4.9 per cent to $8.78 billion.  Analysts were expecting per-share earnings of $4.22 on revenue of $7.71 billion.

The company noted that its bond trading desks increased uncertainty over new banking rules on capital and risk-taking.  Chief Executive Lloyd Blankfein has dismissed suggestions that clients would take bigger risks.  The bank is taking steps to adopt new rules and is being cautious about riskier investments.  Goldman's fixed-income, currencies and commodities, or FICC, business, which has remained a profit engine for the company, has been facing difficulties in recent times.

FICC trading recorded a fall of 13 per cent to $8.65 billion for the entire year while during the quarter, the revenues fell 15 per cent from the year-earlier period to $1.72 billion.