The Bank of America reported strong financial results for the first quarter of 2026 this week, beating analysts’ expectations, with profits up 17 per cent. Global wealth and investment management revenue and profits also rose.   

Profits at the Bank of America reached $8.6 billion in the first quarter of 2026 compared with $7.4 billion the previous year, up 17 per cent.

Revenue, net of interest expense, of $30.3 billion was up 7 per cent, reflecting higher net interest income (NII), sales and trading revenue, asset management fees and investment banking fees. NII of $15.7 billion was up 9 per cent, driven by higher NII related to global markets activity, higher deposit and loan balances, and fixed-rate asset repricing, partially offset by the impact of lower interest rates.

For global wealth and investment management, net income reached $1.3 billion, a rise of 32 per cent year-on-year, while revenue totalled a record of $6.7 billion, up 12 per cent. The increase was driven primarily by higher asset management fees, up 15 per cent to $4.2 billion, reflecting higher market valuations and strong assets under management (AuM) flows.

Client balances amounted to $4.6 trillion, a rise of 10 per cent, driven by higher market valuations and positive net client flows. Average loans and leases stood at $262 billion, increasing by $30 billion, or 13 per cent.  

“Earnings per share rose 25 per cent year-over-year, starting 2026 with strong momentum. Net income of $8.6 billion reflected the team’s disciplined execution,” chair and CEO Brian Moynihan, said. “The team produced 290 basis points of operating leverage. This resulted in strong year-over-year improvement in returns on equity and assets.”

“Revenue growth of 7 per cent year-over-year included net interest income that was better than we expected, up 9 per cent, as well as double-digit growth in sales and trading revenue, investment banking fees and asset management fees,” he continued. “We remain watchful of evolving risks. However, we saw healthy client activity, including solid consumer spending and stable asset quality, indicating a resilient American economy.”