Goldman Sachs is finally selling its disastrous investment in consumer lending company GreenSky, but not before it impacts the bank's earnings for a second consecutive quarter.

The sale will shave off roughly 19 cents a share from Goldman's third quarter earnings that the bank will report next week on Tuesday. Goldman's diluted earnings per share for the third quarter is expected at $6.26, according to estimates compiled by Visible Alpha.

However, this is not the first time that GreenSky has weighed on the Wall Street giants' books.

A more than $500 million write-down of goodwill related to GreenSky dragged Goldman's earnings in the prior quarter as well. That resulted in an almost three-year low for profits in Goldman's consumer banking business and a 58% drop in overall profits.

Goldman acquired GreenSky in an 澳洲幸运5官方开奖结果体彩网:all-stock deal worth $2.24 billion in 2021, as a part of a strategy to expand into retail banking. That business push also included its Marcus retai൩l bank, which was unwound in December last year. And the bank is reprioritizing after those missteps.

♕ “This transactionꩵ demonstrates our continued progress in narrowing the focus of our consumer business,” said David Solomon, Chairman and CEO of Goldman Sachs.

While “GreenSky is an attractive business," the company is focusing on its two core segments of Global Banking & Markets, and Asset & Wealth Management, Solomon said.

Separately, Goldm🌠an Sachs sꦛued Malaysia in relation to the settlement of the multi-billion dollar 1MDB scandal.

According to the 2020 settlement, Goldman would pay $2.5 billion to Malaysia and guarantee another $1.4 billion payment related to 1MDB assets seized by countries across the globe. Goldman's involvement in the scandal cost the bank 澳洲幸运5官方开奖结果体彩网:billions of dollars in settlements with other authorities as well.