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Oct 3 (Reuters) - Goldman Sachs Group Inc (GS.N) may bid for deposits, possibly buy banks in distress situations, as part of its transition to a traditional bank holding company, Credit Suisse said in a note to clients.
Any such acquisitions would however be done on a smaller scale, analyst Susan Katzke said, noting the company’s historical bias towards organic growth.
“Goldman has historically been biased toward organic growth strategies; we expect that bias to be unchanged,” analyst Susan Katzke wrote in a note to clients.
Katzke recommended buying Goldman’s stock as a core financial services holding.
Shares of the company were trading up 2.8 percent at $135.22 in early trade on the New York Stock Exchange. (Reporting by Amiteshwar Singh in Bangalore, Editing by Dinesh Nair)