BofA Reports $6.9B Net Income in Q3

By Bobby Samwell • Wednesday, October 14 11:08 • Permanent Link

Bank of America reported third-quarter 2026 net income of $6.9 billion, or $0.91 a share, on revenue of $30.0 billion, up 3% from a year earlier. Net interest income rose 8% to $16.4 billion.

The company said results included a $1.2 billion regulatory settlement charge, equal to $0.17 a share.

Consumer banking posted net income of $3.5 billion on revenue of $11.6 billion, up 4%. Average deposits in the unit were $949 billion, up $1 billion from the prior period and 32% above pre-pandemic levels. Average loans and leases were $321 billion, up $1 billion, while average credit card loans rose 5% to $106 billion. Combined credit and debit card spending increased 8% to $266 billion. The bank added more than 200,000 net new consumer checking accounts and ended the quarter with 38.9 million consumer checking accounts, 92% of them primary. Consumer investment assets climbed 14% to $664 billion.

Global wealth and investment management reported net income of $1.5 billion and revenue of $7.1 billion, up 13%. Asset management fees rose 16% to $4.5 billion. Client balances reached $5.1 trillion, up 9%, and average loans and leases increased 13% to $279 billion. AUM balances rose 12% to $2.4 trillion.

Global banking earned $2.0 billion. Investment banking fees, excluding self-led deals, fell 11% to $1.8 billion. Average deposits increased 6% to $669 billion, and average loans and leases rose 8%. Treasury service charges improved 10%.

Global markets posted net income of $1.2 billion. Sales and trading revenue declined 5% to $5.1 billion, including net DVA gains of $20 million. Fixed income, currencies and commodities revenue fell 17% to $2.6 billion, while equities revenue increased 11% to $2.5 billion.

On the client side, Bank of America said it added more than 5,000 net new $500,000-plus relationships across Merrill and Private Bank, and 87% of those clients were digitally active. In consumer banking, 17.6 million clients were enrolled in Bank of America Rewards, with about 4 million new enrollments in the quarter. As a result of these announcements, the company's shares have moved -1.14% on the market, and are now trading at a price of $53.96. For the full picture, make sure to review BANK OF AMERICA CORP /DE/'s 8-K report.

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