Accessibility StatementSkip Navigation CHARLOTTE, N.C., Oct. 29, 2025 /PRNewswire/ -- As previously announced, Bank of America will host an Investor Day on Wednesday, November 5, 2025. Presentations will begin at approximately 9:00 a.m. ET and conclude around 4:30 p.m. ET. The Management Team will discuss the company's world-class franchises, strategic priorities, and growth opportunities. The live webcast and post-event replay will be accessible on Bank of America's Investor Relations website under Events ...

Core Insights - Erica, Bank of America's AI-driven virtual financial assistant, has assisted nearly 50 million users and surpassed 3 billion client interactions since its launch in 2018, averaging over 58 million interactions per month [1][2] - The AI system has delivered more than 1.7 billion proactive, personalized insights to clients, significantly enhancing client engagement and satisfaction [2][3] - Bank of America has received multiple industry accolades for its AI initiatives, including being named the top U.S. consumer bank for AI use and Erica being recognized as the best chatbot/virtual assistant in the U.S. and North America [5] Client Engagement and Efficiency - Clients have spent over 18.7 million hours interacting with Erica, with more than 98% of users finding the information they need, which has reduced call center volume [3][4] - Erica is integrated across various Bank of America services, including Merrill and CashPro, driving efficiencies and enhancing client experiences [5][8] - The virtual assistant has reduced IT service desk calls by 50% among employees, demonstrating its effectiveness in internal operations [8] Future Developments - Bank of America plans to expand Erica's capabilities over the next year to provide more personalized financial insights [4] - The company aims to enhance the virtual assistant's functionalities to cover a broader range of topics, improving both client and employee interactions [8] Company Overview - Bank of America serves approximately 69 million consumer and small business clients through a vast network of retail financial centers and ATMs, alongside a strong digital banking presence with around 59 million verified digital users [9] - The company is a global leader in wealth management, corporate and investment banking, providing a comprehensive range of financial products and services [9]

Financial Performance Highlights - Revenue reached $26.5 billion, a 4% year-over-year increase[2] - Net income was $7.1 billion, up 3% year-over-year[2] - Earnings per share (EPS) increased by 7% year-over-year to $0.89[2] - The return on average common shareholders' equity (ROE) was 100% and return on average tangible common shareholders' equity (ROTCE) was 134%[2] Balance Sheet Strength - Deposits totaled $20 trillion, a 5% increase year-over-year[2] - The common equity tier 1 (CET1) ratio was 115%, exceeding regulatory minimums[2] - Global liquidity sources (GLS) averaged $938 billion[2] Business Segment Growth - Consumer investment assets increased by 13% year-over-year to approximately $540 billion[9] - Global Banking average deposits grew 15% year-over-year to over $600 billion[10] - Global Wealth & Investment Management (GWIM) client balances increased 10% year-over-year to $44 trillion, with assets under management (AUM) up 13%[9] Artificial Intelligence and Innovation - The company is leveraging AI to drive efficiencies across various operations, including customer service, content summarization, and code generation[11] - Over 50 AI-enabled fraud detection models are in use[11] - The company has approximately 1,400 AI and machine learning patents granted and pending[11] Net Interest Income and Outlook - Net interest income (NII) increased by 7% year-over-year to $147 billion[14] - The company expects net interest income to be approximately $155 billion-$157 billion in 4Q25[51] Asset Quality - Total net charge-offs were $15 billion[12] - The allowance for loan and lease losses represented 117% of total loans and leases[65]