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# Bank of America Q3 2024 Net Income Reaches $6.9 Billion as Investment Banking and NII Recovery Lift Results
- URL: https://www.theglobalbanker.com/bank-of-america-q3-2024-net-income-6-9-billion-investment-banking-nii-recovery/
- Published: 2024-10-15T14:23:00.000Z
- Updated: 2026-10-02T13:34:30.000Z
- Description: Bank of America reported Q3 2024 net income of $6.9bn on revenues of $25.3bn, with investment banking fees up 18% and NII rising 2% from the prior quarter.
- Author: TGB Editorial Team
- Tags: Banking News, Americas, #archive

Bank of America reported third-quarter 2024 net income of $6.9 billion, or $0.81 per share, down from $7.8 billion, or $0.90 per share, a year earlier, on total revenues of $25.3 billion — up 1 per cent year on year. The figures were disclosed in the bank's quarterly earnings release.

Net interest income of $14.0 billion ($14.1 billion on a fully taxable-equivalent basis) rose 2 per cent from the prior quarter. 

#### INVESTMENT BANKING

Investment banking fees rose 18 per cent year on year. 

#### CREDIT AND CAPITAL

The provision for credit losses was $1.5 billion for the quarter, essentially matching net charge-offs of $1.5 billion, with a net reserve build of only $8 million. The bank characterised asset quality as broadly stable across its loan book. The Common Equity Tier 1 ratio stood at 11.8 per cent.