Bank of America Corp (BAC.US) Q4 net profit increased by 125% year-on-year, with strong performance in its investment banking business.

Bank of America Corp (BAC.US) announced its fourth quarter performance for 2024. The financial report shows that Bank of America Corp's Q4 revenue was $25.35 billion, an 11% increase compared to the same period last year. Net interest income (NII) was $14.36 billion, a 3% increase compared to market expectations of $14.12 billion. Q4 net profit was $6.67 billion, a 125% increase, with diluted earnings per share of $0.82, surpassing market expectations of $0.77. By business segment: Consumer banking revenue was $10.6 billion, a 3% increase, with a net profit of $2.8 billion. Global wealth and investment management revenue was $6 billion, a 15% increase, with a net profit of $1.2 billion. Global banking revenue increased by 3% to $6.1 billion, with a net profit of $2.1 billion, including a 44% increase in investment banking revenue to $1.7 billion. Global markets revenue increased by 18% to $4.8 billion, with a net profit of $0.9 billion, including a 13% increase in sales and trading revenue. Like other Wall Street banks, Bank of America Corp's significant increase in Q4 net profit was boosted by the recovery in trading activities and strong performance in the stock market. Bankers expect that under the push of President Trump's pro-business policies, trading activities in 2025 will become even more robust. Bank of America Corp CEO Brian Moynihan said, "All revenue sources have shown growth, setting a strong foundation for 2025." The bank expects to achieve more net interest income in 2025. In addition, Bank of America Corp's Q4 provision for credit losses was $1.5 billion. Q4 CET1 ratio was 11.9%. The bank returned $5.5 billion to shareholders in Q4, including $2 billion in dividends and $3.5 billion in stock repurchases.