Bank of America Q1 profits rise as trading fees increase.
US banking giant Bank of America said on Tuesday that profits had risen in Q1 as market volatility due to uncertainty surrounding Donald Trump's tariff programme has given trading fees a boost.
Bank of America Corp.
15 April 2025 12:10:33
Source: Sharecast
Bank of America said trading revenues were 9% higher in Q1, with equities trading jumping 17% during the period. Net interest income grew 3% to $14.4bn.
Earnings came to $7.4bn in the three months ended 31 March, up from $6.7bn in the same period a year earlier. On a per share basis, earnings improved by $0.14 to $0.90 each.
Chief executive Brian Moynihan said: "Though we potentially face a changing economy in the future, we believe the disciplined investments we have made for high-quality growth, our diverse set of businesses, and the team’s relentless focus on Responsible Growth will remain a source of strength."
As of 1200 BST, Bank of America shares were up 1.99% in pre-market trading at $37.40 each.
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