Bank of America reported third-quarter 2026 results showing continued organic growth across deposits, lending, wealth management, digital engagement, and consumer activity. Revenue increased 3% year-over-year to $30 billion, while net interest income rose 8% to $16.4 billion, supported by higher loan and deposit balances, Global Markets activity, and the repricing of fixed-rate assets.
The company reported net income of $6.9 billion, or $0.91 per diluted share. Results included a $1.2 billion regulatory settlement charge. Excluding that charge, adjusted net income was $8.1 billion and adjusted diluted earnings per share were $1.08, compared with reported earnings per share of $1.04 in the prior-year quarter.
Bank of America continued to expand its balance sheet, with average deposits increasing 2% to $2.02 trillion and average loans and leases rising 6% to $1.23 trillion. The quarter marked the company’s 10th consecutive quarter of sequential average loan growth, with lending increasing across every business segment. The bank also maintained average global liquidity sources of approximately $914 billion.
Consumer Banking generated $3.5 billion in net income and $11.6 billion in revenue, with revenue up 4% from the prior year. Bank of America added more than 200,000 net new consumer checking accounts during the quarter, extending its streak of net checking account growth to 31 consecutive quarters. The Consumer Banking business ended the period with 38.9 million checking accounts, while combined credit and debit card spending increased 8% to approximately $266 billion.
Consumer investment assets reached approximately $664 billion, an increase of 14%, supported by higher market valuations and $18 billion of net client flows. Bank of America also continued to see strong adoption of its digital channels, with approximately 50 million active digital banking users, 4.2 billion digital logins during the quarter, and 71% of total sales digitally enabled. Active users of Erica increased 18% to 24.2 million.
Global Wealth and Investment Management delivered particularly strong growth. Revenue increased 13% to $7.1 billion, while net income reached $1.5 billion. Asset management fees increased 16% to $4.5 billion, reflecting higher market valuations and strong assets under management flows. Total client balances increased 9% to approximately $5.1 trillion.
The wealth business generated $20 billion of AUM flows during the quarter and $74 billion over the prior 12 months. Merrill Wealth Management reported approximately $4.2 trillion in client balances and $1.9 trillion in AUM, while Bank of America Private Bank held approximately $816 billion in client balances and $488 billion in AUM. The company added approximately 5,000 net new relationships with balances of at least $500,000 across Merrill and Private Bank.
Global Banking generated $2 billion of net income as average deposits increased 6% to $669 billion and average loans and leases rose 8% to $419 billion. Treasury service charges rose 10% as the business continued investing in technology and client capabilities.
Within Global Markets, equities revenue increased 11% to $2.5 billion, driven by higher client financing activity, particularly in Asia and the United States. Overall sales and trading revenue was $5.1 billion, while the segment generated $1.2 billion of net income.
Credit trends also improved during the quarter. Net charge-offs declined from both the prior-year quarter and the second quarter of 2026, while the credit card charge-off rate improved to 3.22% from 3.46% a year earlier. Both early- and late-stage credit card delinquency rates improved year over year for the sixth consecutive quarter.
Bank of America returned $8.3 billion to shareholders during the quarter, including $6 billion of common stock repurchases and $2.2 billion of common stock dividends. Book value per common share rose 4% year over year to $39.26, while tangible book value per share rose 3% to $29.14.
The company is also continuing to expand its use of artificial intelligence across its workforce. More than 200,000 employees are now using AI tools, with more than 300 approved use cases across the company as Bank of America looks to improve client service, employee productivity, and risk management.
KEY QUOTES:
“The team delivered organic growth, deepening client relationships and adding new ones. While investment banking and sales and trading revenues were lower, commercial lending grew in every client segment. Our momentum, reflected in growth in client deposits, wealth flows and consumer activity, supported solid earnings, balance-sheet growth and long-term shareholder value. Our disciplined investments in AI are helping teammates serve clients better, work faster and manage risk more effectively. With more than 200,000 teammates using AI tools and 300-plus approved use cases across the company, we are turning our scale into a competitive advantage.”
Brian Moynihan, Chair And CEO Of Bank Of America
“We saw healthy activity from our consumer, wealth management, business and commercial clients. Organic growth helped drive higher revenue and solid earnings. Net interest income grew 8% from last year, supported by continued year-over-year and sequential improvement in net interest yield, while asset management fees rose 17%. Asset quality continued to improve and liquidity and capital remained strong. This helped enable us to invest for growth and return $8.3 billion to shareholders through common stock dividends and share repurchases.”
Alastair Borthwick, Executive Vice President And CFO Of Bank Of America
