Net Income: $7.4 billion for Q1 2025.
Earnings Per Share (EPS): $0.90 for Q1 2025.
Revenue Growth: 6% year-over-year increase.
Net Interest Income (NII): Grew 3% year-over-year.
Deposits: Nearly $2 trillion, marking the 7th consecutive quarter of growth.
Commercial Loans: Growth in nearly every line of business for the second consecutive quarter.
Consumer Investments: $22 billion in annual flows over the last 12 months.
Assets Under Management (AUM) Flows: $24 billion in Q1 2025.
Sales and Trading Revenue: 12th consecutive quarter of year-over-year growth, with a 16% return on allocated capital.
Regulatory Capital: Over $200 billion.
Liquidity: Nearly $1 trillion.
Provision Expense: $1.5 billion for the quarter.
Non-Interest Expense: $17.8 billion, up from the previous quarter.
Return on Assets: 89 basis points.
Return on Tangible Common Equity: 14% for Q1 2025.
Tangible Book Value Per Share: $27.12, a 9% increase from Q1 2024.
Common Dividends and Share Repurchases: $6.5 billion returned to shareholders.
Consumer Banking Revenue: $10.5 billion, a 3% increase from Q1 2024.
Wealth Management Revenue: $6 billion, an 8% increase year-over-year.
Global Banking Revenue: $6 billion, flat compared to the prior year.
Global Markets Revenue (ex-DVA): $5.6 billion, a 9% increase year-over-year.
Effective Tax Rate: 9% for the quarter.
Release Date: April 15, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Bank of America Corp (NYSE:BAC) reported a strong net income of $7.4 billion and $0.90 in EPS for Q1 2025, marking an 11% increase in net income year-over-year.
The company achieved a 6% revenue growth year-over-year, with net interest income growing by 3%.
Deposits grew for the 7th consecutive quarter, reaching nearly $2 trillion, an 8% increase from mid-2023.
The wealth management division added 7,200 net new households and saw net AUM flows of $24 billion in the quarter.
The company maintained a strong balance sheet with over $200 billion in regulatory capital and nearly $1 trillion in liquidity, supporting client solutions effectively.
Non-interest expenses increased to $17.8 billion, driven by seasonally elevated payroll taxes, litigation costs, and market-related expenses.
Provision expense for the quarter was $1.5 billion, indicating ongoing caution in asset quality management.
The company faces potential headwinds from expected interest rate cuts, which could impact net interest income growth in the future.
There is uncertainty in the economic outlook due to market volatility and potential changes in tariffs and policies, which could affect loan demand and growth.
The commercial loan growth, while strong, is subject to concerns over potential weakening in loan demand due to economic uncertainties and policy changes.
