Bank of America Corp's performance is strong, "bursting at the seams", Bank of America (BAC.US) is issuing $1 billion in stock incentives to employees worldwide.

Recently, major banks in the United States have announced impressive financial performance reports and have shown confidence in the favorable environment for the future development of the banking industry. According to media reports citing an internal memo seen on Friday, Bank of America Corp (BAC.US), the second largest bank in the United States, will reward its global employees with stocks for the eighth time since 2017, due to its strong performance in 2024. These stock rewards, which will be distributed outside of year-end incentive bonuses, will be given to employees with annual total compensation of less than $500,000, covering approximately 97% of the bank's global employees. As of the end of 2024, Bank of America Corp had 213,193 employees, meaning the total value of stock rewards will be slightly over $1 billion. Earlier this week, Bank of America Corp released its fourth quarter financial report and full-year 2024 performance report, exceeding expectations in profits due to trading activities. The bank also forecasts higher interest income in 2025. With strong growth in fee income, this banking giant had annual revenue exceeding $100 billion in 2024, with profits reaching $27.1 billion. Several of the largest banks in the United States reported significant profit growth, mainly driven by increased trading activities. JPMorgan Chase saw a 10% increase in revenue in the fourth quarter of last year, with net profits rising by about 50% to $14 billion. Its net profit for the year was $58.5 billion, an 18% increase from the previous year and a record for Bank of America Corp. Wells Fargo & Company's net profit in the fourth quarter of last year increased by 47%, with its investment banking business growing by 59%. Looking ahead, CEOs on Wall Street have also expressed confidence, with bankers expecting global transactions to exceed $4 trillion by 2025, reaching the highest level in four years. They also believe that the upcoming U.S. government will maintain a business-friendly environment for banks. Driven by a strong stock market and analysts' expectations of President-elect Donald Trump's deregulation and tax reduction agenda, the overall operating environment may be favorable for the banking industry. Bank of America Corp CEO Brian Moynihan said at the financial report release event, "All sources of income have increased, and we see growth in deposits and loans outpacing industry growth. We believe this broad momentum sets a strong foundation for 2025." Earlier this month, reports citing sources indicated that Bank of America Corp's investment bankers' bonus pool may increase by 10% from last year. The bank's stock price soared by 30.5% in 2024, outperforming benchmark indices like the S&P 500. Stock rewards are typically used to reward employees, retain top talent, and align their interests with the long-term success of the company.