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Bank of America (BAC) investor relations material

Bank of America Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary15 Oct, 2025

Executive summary

  • Net income reached $8.5 billion, up 23% year-over-year, with EPS rising 31% to $1.06 and revenue growing 11% to $28.1 billion, driven by higher net interest income, investment banking, asset management fees, and sales and trading revenue.

  • All business segments contributed to earnings growth, with Consumer Banking and Global Wealth & Investment Management showing standout performance and strong loan and deposit growth.

  • Operating leverage improved, with efficiency ratio at 62% and ROTCE at 15.4%.

  • Balance sheet remained strong with deposits at $2.0 trillion (+4% YoY), loans at $1.2 trillion (+8% YoY), and CET1 ratio at 11.6%.

  • Returned $7.4 billion to shareholders via $2.1 billion in dividends and $5.3 billion in share repurchases.

Financial highlights

  • Net interest income (FTE) reached a record $15.4 billion, up 9% year-over-year; noninterest income increased 13% to $12.9 billion.

  • Investment banking fees exceeded $2 billion, up 43% year-over-year; sales and trading revenue grew 8–9% for the 14th consecutive quarter of growth.

  • Asset management fees increased 12% year-over-year.

  • Provision for credit losses was $1.3 billion, down from $1.5 billion in 3Q24 and $1.6 billion in 2Q25.

  • Noninterest expense increased 5% year-over-year to $17.3 billion; efficiency ratio improved to 62%.

Outlook and guidance

  • Q4 net interest income (FTE) expected at $15.6–$15.7 billion, up 8% from Q4 2024.

  • For 2026, anticipate NII growth of 5%-7% over 2025, driven by core loan/deposit growth and fixed-rate asset repricing.

  • Expenses expected to remain flattish in Q4, with headcount stable.

  • Management expects continued operating leverage and strong capital and liquidity to support future growth.

  • A 100 bps decline in rates could reduce NII by $2.2 billion over 12 months.

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Frequently asked questions

One of the largest banks in the world

Bank of America is one of the largest banks in the world, with over 4,600 retail financial centers and a presence in more than 35 countries. The company offers a wide range of financial products and services to consumers, small businesses, and large corporations.

Operating one of the most popular banking apps

Bank of America generates the majority of its revenue from consumer banking, including mortgages, credit cards, and personal loans. The company's retail financial centers are a popular destination for consumers looking to manage their finances, and Bank of America's mobile banking app is one of the most popular in the industry.

Involved in large financial transactions

In addition to its consumer banking operations, Bank of America also offers a range of corporate and investment banking services, including investment banking, wealth management, and trading services. The company is a major player in the global financial markets and has been involved in some of the largest financial transactions in history, including the merger of AT&T and Time Warner.

Bank of America’s main competitors

The financial industry is highly competitive, with other public companies such as JPMorgan Chase, Citigroup, and Wells Fargo also offering similar services. Bank of America is known for its commitment to corporate social responsibility, including investments in renewable energy and affordable housing.

Interesting facts about Bank of America

  • Bank of America was originally founded in San Francisco in 1904 as the Bank of Italy, with a focus on serving immigrant communities.

  • The company was a major player in the development of the modern credit card industry, by launching the first general-purpose credit card in 1958.

  • Bank of America is also known for its iconic skyscraper, the Bank of America Tower, which is one of the tallest buildings in the United States. The tower is home to Bank of America's corporate headquarters and features a range of sustainable design features, including rainwater harvesting and energy-efficient lighting systems.

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