July 16 (Reuters) - Goldman Sachs' ( GS ) profit jumped

22% in the second quarter, as turbulent markets lifted equities

trading revenue to a record and a pickup in dealmaking boosted

investment banking.

Investors flocked to markets to make trades and manage

tariff-related risks as U.S. trade policies shifted. The turmoil

boosted trading desks across Wall Street.

Goldman's equities trading revenue rose 36% to $4.3 billion,

while fixed income, currencies and commodities hauled in $3.47

billion, 9% higher than a year ago.

Its investment banking fees stood at $2.19 billion in the

quarter, rising 26% from a year earlier. Fees from advisory were

significantly higher, while debt underwriting dipped.

Overall profit was $3.7 billion, or $10.91 per share, for

the three months ended June 30, compared with $3.04 billion, or

$8.62 per share, a year earlier.

Rivals JPMorgan Chase ( JPM ) and Citigroup ( C/PN ) also

reported strong trading gains on Tuesday.

ASSET AND WEALTH REVENUE FALLS

Revenue from Goldman's asset and wealth management arm,

which caters to institutions and high net-worth individuals,

dipped 3% to $3.78 billion due to weakness in equity and debt

investments.

The business is important for Goldman as it can offer

steadier revenue than trading and investment banking.

The bank set aside $384 million as provisions for credit

losses, compared with $282 million last year. The provisions

were mainly related to its credit card portfolio.

Goldman was one of 22 banks that cleared the Federal

Reserve's annual stress test last month, paving the way for it

to increase its dividend by $1 a share from the third quarter.

Its shares have climbed 23% so far this year, making them

the fifth best-performer in the S&P 500 financial index.

The bank awarded Solomon an $80 million stock bonus to

retain him for another five years, drawing pushback from

influential proxy advisers Institutional Shareholder Services

and Glass Lewis.

At its annual meeting in April, shareholders approved pay

packages for the bank's executives, although with lower support

compared to last year.

(Reporting by Niket Nishant in Bengaluru and Saeed Azhar in New

York; Editing by Lananh Nguyen and Arun Koyyur)