Goldman Sachs has reported one of its worst years as a public company, delivering a return on equity of just 3.7% in 2011 – its lowest level since 1999 – after suffering large hits to its FICC business and principle investing and lending division.

The bank's return on equity was also impacted due to a redemption of preferred stock held by Berkshire Hathaway to the sum of $1.6bn. Excluding the repayment, return on equity climbed to 5.9%