Summary
Bank of America Corporation reported a strong first quarter for 2026, with net income increasing to $8.6 billion, or $1.11 per diluted share, up from $7.4 billion, or $0.89 per diluted share, in the same period last year. This growth was primarily driven by a significant increase in net interest income and noninterest income, coupled with a lower provision for credit losses. Total revenue grew to $30.3 billion, reflecting robust performance across its key segments, particularly Global Wealth & Investment Management and Global Banking. The company's capital position remains robust, with a Common Equity Tier 1 (CET1) ratio of 11.2% under the Standardized approach at quarter-end. Bank of America also returned capital to shareholders through $7.2 billion in common stock repurchases and $2.0 billion in common stock dividends during the quarter.
Key Highlights
- 1Net income increased by 16.6% year-over-year to $8.6 billion ($1.11 per diluted share).
- 2Total revenue, net of interest expense, increased by 7.2% year-over-year to $30.3 billion.
- 3Net interest income rose by 9.0% to $15.7 billion, driven by higher net interest income from Global Markets, loan and deposit growth, and asset repricing.
- 4Noninterest income increased by 5.2% to $14.5 billion, with strong growth in investment and brokerage services and investment banking fees.
- 5Provision for credit losses decreased by 10.2% to $1.3 billion, indicating improved credit quality.
- 6Noninterest expense increased by 4.3% to $18.5 billion, attributed to higher revenue-related expenses and business investments.
- 7The Common Equity Tier 1 (CET1) ratio was 11.2% at March 31, 2026, exceeding regulatory requirements.