Bank of America reported first-quarter 2026 net income of $8.6 billion, up from the prior year, as earnings per share rose 25% to $1.11 and revenue increased 7% to $30.3 billion. Net interest income climbed 9% to $15.7 billion, while operating leverage came in at 2.9%.
Consumer banking generated $3.1 billion of net income and revenue of $11.0 billion, up 5%. Average deposits reached $951 billion, modestly higher than the prior period and 32% above pre-pandemic levels. Average loans and leases were $322 billion, up $7 billion, or 2%. Small business loans grew 5%, and combined credit and debit card spending rose 7% to $245 billion. The unit added about 100,000 net new consumer checking accounts, marking 29 straight quarters of net growth, and ended the quarter with 38.5 million consumer checking accounts. Consumer investment assets rose 15% to $573 billion, while payments volume increased 5% to $1.1 trillion.
Global wealth and investment management posted net income of $1.3 billion and revenue of $6.7 billion, up 12%. Asset management fees increased 15% to $4.2 billion. Client balances rose 10% to $4.6 trillion, and average loans and leases climbed 13% to $262 billion. The business added roughly 4,000 net new $500,000-plus relationships.
Global banking reported net income of $2.1 billion. Total corporation investment banking fees, excluding self-led deals, rose 21% to $1.8 billion. Average deposits increased 13% to $648 billion, and average loans and leases rose 5%. Treasury service charges improved 10%.
Global markets produced net income of $2.0 billion. Sales and trading revenue rose 13% to $6.4 billion. Equities revenue jumped 30% to $2.8 billion, while fixed income, currencies and commodities revenue increased 2% to $3.5 billion. It was the 16th consecutive quarter of year-over-year growth for the trading business. As a result of these announcements, the company's shares have moved -1.05% on the market, and are now trading at a price of $48.24. For more information, read the company's full 8-K submission here.
