Bank of America(US:BAC)2025-01-16 16:16Financial Highlights - Bank of America's revenue, net of interest expense, reached $101.9 billion in 2024[2] - The company's net income for 2024 was $27.1 billion[2] - Earnings per share (EPS) for 2024 stood at $3.21[2] - The return on average common equity was 9.5%[2] and return on average tangible common equity was 12.9%[2] - Average deposits increased 2% year-over-year to $1.97 trillion[2] - The Common Equity Tier 1 (CET1) ratio was 11.9%, exceeding the regulatory minimum of 10.7%[2, 3] - Average Global Liquidity Sources (GLS) amounted to $953 billion[2] Q4 2024 Performance - Net income for 4Q24 was $6.7 billion, with diluted earnings per share at $0.82[17, 21] - Revenue, net of interest expense, for 4Q24 was $25.3 billion, a 15% increase compared to 4Q23[17, 21] - Net interest income (NII) for 4Q24 was $14.4 billion, a 3% increase from 4Q23[21] - Noninterest expense for 4Q24 was $16.8 billion, a 5% decrease compared to 4Q23[17, 21] Business Segment Growth - Consumer Banking added approximately 1.1 million net new checking accounts in 2024[7] - Global Wealth & Investment Management (GWIM) client balances reached a record $4.3 trillion, up 12% year-over-year[7] - Global Banking investment banking fees grew 31% year-over-year to $6.2 billion[8] - Global Markets average loan balances in 4Q24 were a record $152 billion, up 14% year-over-year[8]