CHARLOTTE, N.C., April 15, 2026, 08:53 EDT— released first-quarter 2026 results early this morning.
Bank of America reported a 17% jump in first-quarter profit on Wednesday, topping analyst forecasts thanks to record equities trading, a pickup in investment-banking fees, and higher net interest income. Net income climbed to $8.6 billion, or $1.11 per share, up from $7.4 billion the year before and ahead of the $1.01 consensus.
Bank earnings season is off to a strong start. JPMorgan, Citigroup, and Morgan Stanley all posted gains on the back of active trading and dealmaking, underscoring how large banks are capitalizing on choppy markets and renewed M&A activity. Investors, meanwhile, remain alert to developments in the Middle East, swings in oil, and signals from the Federal Reserve. Futures on key U.S. indexes barely budged before the open.
Why does that count? Early earnings from the big banks are a first pulse-check on U.S. consumers and business. CEO Brian Moynihan called out “healthy client activity” with asset quality holding steady. The bank’s consumer unit turned in $11.0 billion in revenue as credit and debit card spending climbed 7%, reaching $245 billion. Reuters
Revenue after interest expense came in at $30.3 billion, up 7%. Net interest income jumped 9% to $15.7 billion. The provision for credit losses, however, slipped to $1.3 billion from $1.5 billion a year ago.
Most of the heavy lifting came from the trading division. Sales and trading revenue climbed 13% to $6.4 billion, notching a 16th consecutive year-over-year gain. Equities revenue surged 30%, reaching a record $2.8 billion. Fixed income, currencies, and commodities grew 2% to $3.5 billion.
Investment banking turned in a solid performance as well. Bank of America reported a 21% jump in total corporate investment-banking fees, bringing in $1.8 billion. Reuters, pulling from LSEG data, noted that first-quarter M&A volume cleared $1.2 trillion, with boards pressing ahead on major transactions despite volatile markets. BofA was on McCormick’s side for its bid on Unilever’s food business, and also worked with Devon Energy during its acquisition of Coterra Energy.
Results from the rest of the business: consumer banking pulled in $3.1 billion, global banking brought in $2.1 billion, and global wealth and investment management posted $1.3 billion. Deposits averaged just over $2 trillion, up for an 11th straight quarter versus the prior period. “Good expense discipline,” Chief Financial Officer Alastair Borthwick said, would let the bank keep investing for growth. SEC
The mood is far from settled. Moynihan described the bank as “watchful of evolving risks,” and JPMorgan’s CFO Jeremy Barnum cautioned investors against reading too much into a quarter he called “unique.” Citi finance chief Gonzalo Luchetti, for his part, flagged that an extended conflict could take a toll on the IPO and deals pipeline in the back half of the year. SEC
Private credit—corporate loans made away from banks—remains a hot spot. Bank of America counts around $20 billion tied up in private-credit portfolio finance loans, with $25 billion earmarked for that line of business as regulators ramp up their focus on such assets.
BAC traded at $53.35 as of 8:38 a.m. ET, holding steady versus its previous close.
