Goldman Sachs reports 69% drop in Q4 profit

(Reuters) - Goldman Sachs Group Inc on Tuesday reported a 69% drop in fourth-quarter profit due to heavy losses in its consumer business and a slump in dealmaking that hit its investment banking unit.

The bank reported a profit of $1.19 billion, or $3.32 per share, for the three months ended Dec. 31, compared with $3.81 billion, or $10.81 per share, a year earlier.

(Reporting by Niket Nishant in Bengaluru; Editing by Anil D'Silva)