Bank of America Posts Robust Earnings Amid Market Surge

Bank of America's fourth-quarter profits exceeded expectations, benefiting from strong trading and increasing interest income. The lender's net income rose to $6.7 billion, buoyed by a favorable business environment under President-elect Trump. Investment banking fees and client inflows also saw significant growth, forecasting a strong 2025.

Bank of America has reported a better-than-expected profit for the fourth quarter, thanks to a surge in trading activities. The lender anticipates higher interest income as it moves into 2025, mirroring the positive trends observed by Wall Street giants like JPMorgan and Goldman Sachs.

CEO Brian Moynihan expressed confidence in BofA's momentum as every revenue source saw growth. The bank's net income jumped to $6.7 billion, a substantial increase compared to $3.1 billion a year earlier. Adjusted earnings per share were 82 cents, surpassing analysts' estimates of 77 cents.

Market rallies post-U.S. presidential election and a favorable economic outlook under President-elect Trump contributed to BofA's financial success. The S&P 500's record performance and robust client inflows in wealth management further bolstered income, promising a strong year ahead for investment banking.

(With inputs from agencies.)