BAC.US Q4 net profit soared 125% YoY, with a noteworthy performance in investment banking.

Bank of America (BAC.US) released its Q4 2024 earnings report. The bank's Q4 revenue was $25.35 billion, up 11% YoY; its net interest income (NII) was $14.36 billion, up 3% YoY, topping the market's expectation of $14.12 billion. Its Q4 net profit was $6.67 billion, up 125% YoY; its diluted EPS was $0.82, topping the market's expectation of $0.77.

By business: Consumer Banking revenue was $10.6 billion, up 3% YoY; its net profit was $2.8 billion. Global Wealth & Investment Management revenue was $6 billion, up 15% YoY; its net profit was $1.2 billion. Global Banking revenue grew 3% YoY to $6.1 billion, its net profit was $2.1 billion, including investment banking revenue up 44% YoY to $1.7 billion. Global Markets revenue grew 18% YoY to $4.8 billion, its net profit was $900 million, including sales & trading revenue up 13%.

Similar to other Wall Street giants, Bank of America's Q4 net profit grew significantly due to the recovery of trading activities and the strong stock market. Bankers expect trading activities to be stronger in 2025 under the pro-business policy promised by the US president-elect Trump.

Bank of America CEO Brian Moynihan stated, "All sources of revenue grew, and this broad momentum sets a good foundation for 2025." The bank expects more NII in 2025.

Moreover, Bank of America's Q4 credit loss provision was $1.5 billion. Its Q4 CET1 ratio was 11.9%. The bank returned $5.5 billion to its shareholders in Q4, including $2 billion in dividends and $3.5 billion in stock repurchases.