Goldman Sachs initiating sale of fintech unit GreenSky

(Reuters) – Goldman Sachs Group Inc (NYSE:) is starting a process to explore the sale of GreenSky, its fintech unit, the bank’s chief executive officer, David Solomon, said on Tuesday.

“We believe GreenSky is a good business and is performing well with first quarter originations in our core home improvement loans, up over 25% year-over-year and a weighted FICO on total originations of over 780. Given our current strategic priorities, however, we may not be the best long-term holder of this business”, Solomon told analysts in a call on Tuesday.