Goldman Sachs, which late last year said it was embarking on a big expansion of its wealth management arm, has revealed for the first time details of about $5 billion in investment losses suffered during the crisis, media reports said.

The figures show that the bank suffered $13.5 billion in losses from “investing and lending” with its own funds in 2008. The data was issued as part of a series of internal reforms designed to allay criticism of the Wall Street firm, which last year was accused of sharp practice over the sale of collateralised debt obligations to investors prior to the credit crunch.

The firm’s regulatory filings and its executives’ comments to investors at the time pointed to about $8.5 billion of losses arising from its investments in debt and equity markets.

According to the Financial Times, the diverging figures stem from how, like many rivals, the bank did not provide a full breakdown of profits and losses from activities carried out with its own resources.

The loss figures would suggest that Goldman did not profit from the worst financial crisis since the Great Depression.