Goldman Sachs Joins JPMorgan Among SoftBank’s Biggest Lenders

·1 min read

(Bloomberg) -- Goldman Sachs Group Inc. has emerged as one of SoftBank Group Corp.’s biggest lenders, with Masayoshi Son’s company borrowing over $5 billion from the New York-based firm.

Goldman Sachs was SoftBank’s fourth-largest lender in the year ended March 31, extending 593.2 billion yen ($5.4 billion) in loans, the Tokyo-based company said in a statement on Thursday. The bank wasn’t included in the list in the previous period.

Mizuho Financial Group Inc. retained its top spot with 850.1 billion yen, even after trimmed its loan exposure to SoftBank by almost 7% from a year earlier. JPMorgan Chase & Co. was second with 829.3 billion, more than triple the amount in the year-earlier period.

BNP Paribas SA was also a new entry on the list, ranking third with 601.5 billion yen, SoftBank said. Deutsche Bank AG increased its lending 46% to 376.1 billion yen. Credit Suisse Group AG, which had extended 176.9 billion yen in loans to SoftBank in 2020, fell out of the top 10 this year.

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