(April 15): Goldman Sachs profit rose 28% in the first quarter, buoyed by a recovery in debt underwriting and dealmaking that boosted its investment banking unit, it reported on Monday.

Profit rose to US$4.13 billion (RM19.73 billion), or US$11.58 per share, for the three months ended March 31, compared with US$3.23 billion, or US$8.79 per share, a year ago.

"We continue to execute on our strategy, focusing on our core strengths to serve our clients and deliver for our shareholders," chief executive officer David Solomon said.

Executives at rivals JPMorgan Chase and Citigroup cited improving conditions for dealmaking last Friday when the lenders reported profits that beat market expectations.