Bank of America Q4 Earnings Surge 18% on Consumer Banking and Wealth Strength
Bank of America delivered an 18% jump in quarterly earnings per share to $0.98, fueled by robust performance in consumer banking and wealth management. Revenue climbed as digital engagement drove deposit growth, loan expansion, and increased card spending.
The consumer banking unit generated $11.2 billion in revenue, with net income reaching $3.3 billion. Average deposits ROSE to $945 billion amid accelerating digital adoption, while small business lending pushed average loans to $323 billion.
Wealth management fees grew alongside rising markets and expanding client balances. The bank added checking accounts for the 28th consecutive quarter, reaching 38.4 million total accounts.
Despite a 1.18% stock dip to $54.54, Bank of America enters the new year with strong momentum as credit costs ease and operational efficiency improves.
