Banks Eye More Cost Cuts Amid Global Growth Concerns

Goldman Sachs Group Inc (GS.N) and other U.S. banks are looking at ways to slash expenses further this year as market turmoil, declining oil prices and concerns about Germany's Deutsche Bank AG (DBKGn.DE) have sent the sector's shares down sharply.

"We can absolutely do a lot more on the cost side if we have to, especially now, when you have to deliver a return," Goldman Chief Executive Officer Lloyd Blankfein said on Tuesday at the Credit Suisse financial services forum in Miami.