Bank of America Corporation (BofA) has reached a record US$6.5 trillion in total client balances across its wealth and consumer segments - a milestone characterised by resilient consumer spending and strong market performance.
The banking giant reported net income of $7.6 billion for Q4 2025 - a 12% increase compared to the prior-year period - capping what Chair and Chief Executive Officer Brian Moynihan described as a strong year of earnings.
Full-year net income reached $30.5 billion, up 13% from 2024, as the firm successfully navigated a shifting interest rate environment while maintaining disciplined expense management.
Diluted earnings per share (EPS) for the quarter stood at $0.98, surpassing analyst expectations of $0.96 and marking an 18% jump from Q4 2024.
Quarterly metrics
Managed revenue for Q4 reached $28.4 billion, a 7% year-on-year increase.
This growth was spearheaded by net interest income (NII), which rose 10% to $15.9 billion on a fully taxable-equivalent basis.
Expansion was driven by higher loan and deposit balances alongside fixed-rate asset repricing - which helped mitigate the impact of lower benchmark rates.
Asset quality remained a pillar of strength, with the provision for credit losses totalling $1.3 billion - a decline from the $1.5 billion recorded in the same period last year.
Net charge-offs also improved to $1.3 billion, as consumer and commercial credit performance remained stable despite broader economic shifts.
Global Wealth & Investment Management (GWIM) remained a key engine of growth, with client balances rising 12% to $4.8 trillion.
The segment added approximately 21,000 net new relationships across Merrill and the Private Bank in 2025, with assets under management (AUM) balances hitting $2.2 trillion.
In Consumer Banking, the franchise added 680,000 net new checking accounts throughout the year, marking 28 consecutive quarters of organic growth.
Meanwhile, Global Markets reported a record year for sales and trading revenue, which reached nearly $21 billion, driven by a 23% surge in equity trading income during the final quarter.
Outlook
"We delivered on our commitments to shareholders across the year with solid growth across revenue, earnings and returns," Moynihan said.
"With consumers and businesses proving resilient, we expect further economic growth in the year ahead."
The firm maintained a robust capital position with a Common Equity Tier 1 (CET1) ratio of 11.4%.
Looking toward 2026, management reiterated expectations for net interest income growth of 5-7% - supported by an optimised digital transformation program and positive operating leverage.
