BofA CEO Brian Moynihan ‘bullish’ on US economy as – Business News
Bank of America CEO Brian Moynihan mentioned he remained bullish on the US economy as the financial giant posted a bigger-than-expected quarterly revenue, with risky markets fueled the bank’s trading beneficial properties.
The Charlotte-based mega bank reported internet income of $7.6 billion, or 98 cents per share for the three months ending Dec. 31. That’s a 12% bounce from $6.8 billion, or 83 cents per share, a 12 months in the past.
Total income after curiosity prices rose 7% to $28.4 billion, beating analysts’ estimates of round $27.9 billion.
BofA CEO Brian Moynihan mentioned in a assertion that he was nonetheless “bullish” on the state of the US economy and the outlook for 2026. REUTERS
For all of 2025, income hit $30.5 billion, up from $27 billion the prior 12 months, with per-share earnings climbing 19% to $3.81.
CEO Moynihan mentioned: “With consumers and businesses proving resilient, as well as the regulatory environment and tax and trade policies coming into sharper focus, we expect further economic growth in the year ahead. While any number of risks continue, we are bullish on the US economy in 2026.”
Shares of Bank of America rose about 2% in premarket trading, including to a stock that’s gained roughly 15% over the previous 12 months amid broader market beneficial properties.
Net curiosity income, which is the distinction between what the bank earns on loans and pays out on deposits, climbed 10% to $15.8 billion.
Average loans elevated 8% to $1.17 trillion, whereas deposits rose 3% to $2.01 trillion, indicating that clients are remaining loyal regardless of higher yields out there elsewhere.
BofA’s trading desks additionally shone amid world jitters about Trump’s tariffs and battle within the Middle East and Ukraine.
Revenue from shopping for and promoting shares, bonds, and currencies within the world markets division surged 10% to $5.3 billion.
BofA’s merchants helped energy the bank’s profitability during what was a risky second in world markets. REUTERS
On the fee facet, non-interest bills, that are gadgets such as salaries, technology upgrades, and department operations, elevated 4% to $17.4 billion.
But effectivity improved, with the ratio of bills to income dropping to 61% from 63%, which means the bank is squeezing more revenue from every greenback.
Loan loss provisions — money set apart for souring money owed — fell to $1.3 billion from $1.5 billion, a signal that buyers and companies are holding up nicely as inflation eases and jobs keep plentiful.
BofA mentioned its client banking unit, which handles checking accounts, credit playing cards, and mortgages, earned $3.3 billion on $11.2 billion in income, up 5% due to regular spending.
The Charlotte-based giant reported internet income of $7.6 billion, or 98 cents per share — the revenue after taxes divided by the quantity of shares excellent — for the three months ending Dec 31. Christopher Sadowski
Wealth management for richer shoppers pulled in $1.4 billion on a 10% income rise to $6.6 billion, boosted by charges and a 12% loan bump.
Corporate banking netted $2.1 billion on $6.2 billion in income, up 2%, with deposits ballooning 13%. Markets chipped in $1 billion, whereas different areas misplaced $132 million.
The bank mentioned its stability sheet held complete belongings at $3.41 trillion, and a core capital cushion, identified as the Common Equity Tier 1 ratio, a key measure of financial power, stood at a strong 11.4%
The Charlotte-based lender, with roots tracing to 1904, serves 69 million clients and manages $3 trillion in wealth belongings.
It navigated 2023’s regional bank turmoil unscathed however confronted scrutiny over capital guidelines, client charges, and claims by conservatives that had been being debanked.
