Bank of America Corp (BAC) Q4 2025 (USD): EPS 0.98 (exp. 0.96), Revenue 28.4bln (exp. 27.56bln)

• Net interest income 15.75bln (exp. 15.48bln)
• Net interest income FTE 15.92bln
• Revenue net of interest expense 28.37bln (exp. 27.78bln)
• Provision for credit losses 1.31bln (exp. 1.48bln)

• Trading (ex-DVA) 4.53bln (exp. 4.33bln)
• FICC (ex-DVA) 2.52bln (exp. 2.62bln)
• Equities (ex-DVA) 2.02bln (exp. 1.89bln)
• Investment banking 1.67bln (exp. 1.66bln)

• Return on average equity 10.5% (exp. 10.2%)
• Return on average assets 0.89% (exp. 0.85%)
• Return on average tangible common equity 14.0% (exp. 13.8%)
• Standardised CET1 ratio 11.4% (exp. 11.5%)
• Compensation expenses 10.60bln (exp. 10.55bln)
• Advisory fees 590mln (exp. 495.3mln)
• Debt underwriting revenue 810mln (exp. 864mln)
• Equity underwriting revenue 297mln (exp. 301mln)
• Loans 1.19tln (exp. 1.18tln)
• Total deposits 2.02tln (exp. 2.03tln)

• Expect further economic growth in the year ahead.
• While any number of risks continue, are bullish on the US economy in 2026.

• Expect Q1 NII +7% Y/Y.

Bank of America delivered a stronger-than-expected Q4 2025 performance, with beats in both EPS and revenue metrics, indicating robust operational performance amid favorable net interest income results. The positive guidance of a 7% year-on-year increase in net interest income for Q1 suggests confidence in sustained economic growth in the U.S., which could support further upward pressure on bank stocks and financial sector sentiment ahead.