Bank Of America Corporation · NYSE:BAC
Bank Of America — Q2 2025 Earnings Presentation
34 slides from Bank Of America's earnings presentation, Jul 16, 2025
Slide 1: Bank of America 2Q25 Financial Results
Bank of America 2Q25 Financial Results July 16, 2025
Slide 2: 2Q25 Highlights
2Q25 Highlights Continued balance Growth in earnings Healthy returns sheet strength Revenue $26.5B1 Deposits $2.0T3 ROE +4% YoY +5% YoY 10.0% Net income $7.1B CET1 11.5% ROTCE +3% YoY well above reg. min.4 13.4%6 EPS $0.892 Robust liquidity ROA +7% YoY GLS $938B5 0.83% Note: ROE stands for return on
Slide 3: Continued Organic Growth in 2Q25
Continued Organic Growth in 2Q25 Consumer Banking Global Wealth & Investment Management Added ~175,000 net new checking accounts; Added ~7,100 net new relationships across Merrill 26 consecutive quarters of net growth and Private Bank 3rd consecutive quarter of QoQ average deposit growth Opened ~28,
Slide 4: Leveraging Artificial Intelligence
Leveraging Artificial Intelligence AI Search & Content Operations & Agent Summarization Generation Code Generation • Erica® helps drive • Generative-AI platform • AI tools help to • AI-powered assistant efficiencies through self- used by Global Markets standardize and available to ~17,000 service ac
Slide 5: 2Q25 Financial Results
2Q25 Financial Results Summary Income Statement 2Q25 1Q25 Inc / (Dec) 2Q24 Inc / (Dec) ($B, except per share data) Total revenue, net of interest expense $26.5 $27.4 ($0.9) (3) % $25.4 $1.1 4 % Provision for credit losses 1.6 1.5 0.1 8 1.5 0.1 6 Net charge-offs 1.5 1.5 0.1 5 1.5 — (1) Reserve build
Slide 6: 2Q25 Highlights
2Q25 Highlights (Comparisons to 2Q24, unless otherwise noted) • Net income of $7.1B; EPS of $0.89; ROE 10.0%, ROTCE1 13.4% • Revenue, net of interest expense, of $26.5B ($26.6B FTE)1 increased $1.1B, or 4%, reflecting higher net interest income (NII), sales and trading revenue, and asset management
Slide 7: Balance Sheet, Liquidity, and Capital
Balance Sheet, Liquidity, and Capital (EOP basis unless noted) Balance Sheet Metrics 2Q25 1Q25 2Q24 Basel 3 Capital ($B)3 2Q25 1Q25 2Q24 Assets ($B) Common equity tier 1 capital $201 $201 $198 Total assets $3,441 $3,349 $3,258 Standardized approach Total loans and leases 1,147 1,111 1,057 Risk-weigh
Slide 8: Average Deposit and Rate Paid Trends
Average Deposit and Rate Paid Trends Total Corporation ($B) Consumer Banking ($B) $1,958 $1,958 $1,974 $2,000 $1,875 $1,876 $1,905 $1,907 $1,910 $1,921 4.00% $1,200 4.00% $1,006 $980 $959 $952 $949 $938 $942 $948 $952 $1,500 3.00% $900 3.00% $1,000 2.03% 2.00% $600 2.00% 1.79% 1.76% $500 1.00% $300
Slide 9: Average Loan and Lease Trends
Average Loan and Lease Trends Total Loans and Leases ($B) Total Loans and Leases by Portfolio ($B) YoY $1,200 $1,081 $1,094 $1,128 +7% $750 $1,051 $1,060 $658 $620 $632 $596 $602 $800 $500 $456 $458 $461 $462 $470 $400 $250 $0 $0 2Q24 3Q24 4Q24 1Q25 2Q25 2Q24 3Q24 4Q24 1Q25 2Q25 Consumer Commercial
Slide 10: Net Interest Income
Net Interest Income Net Interest Income (FTE, $B)1 • Net interest income of $14.7B ($14.8B FTE)1 $14.8 – Increased $0.2B from 1Q25, driven by higher deposit and loan $14.1 $14.5 $14.6 balances, one additional day of interest accrual, and fixed-rate $15.0 $13.9 asset repricing, partially offset by th
Slide 11: Net Interest Income Outlook
Net Interest Income Outlook1,2 ~$325MM- ~$15.5B- $525MM $15.7B ~$450MM ~($250MM) ~$50MM $14.8B ~$125MM • 25 bp • Low-single • Held-to- interest digit deposit maturity rate cuts growth (HTM) in Sep and • Mid-single securities Oct 2025 digit loan • Mortgage growth loans • Cash flow hedges 2Q25 Day Fix
Slide 12: Expense and Efficiency
Expense and Efficiency Total Noninterest Expense ($B) $20.0 $16.5 $16.8 $17.8 $17.2 $16.3 6.5 6.9 6.9 6.5 6.6 $10.0 9.8 9.9 10.2 10.9 10.3 $0.0 2Q24 3Q24 4Q24 1Q25 2Q25 Compensation and benefits Other Efficiency Ratio 70% 66% 64% 65% 65% 65% 60% 50% 2Q24 3Q24 4Q24 1Q25 2Q25 • 2Q25 noninterest expens
Slide 13: Asset Quality
Asset Quality Net Charge-offs ($MM)1 • Total net charge-offs1 of $1.5B increased $73MM from 1Q25 $2,000 1.00% – Consumer net charge-offs of $1.1B decreased $1,533 $1,534 $1,466 $1,525 $60MM, driven by lower credit card losses $1,452 $1,500 0.75% ▪ Credit card loss rate of 3.82% in 2Q25 vs. 4.05% in
Slide 14: Asset Quality – Consumer and Commercial Portfolios
Asset Quality – Consumer and Commercial Portfolios Consumer Net Charge-offs ($MM) Consumer Metrics ($MM) 2Q25 1Q25 2Q24 $1,119 Provision $1,084 $1,100 $1,094 $1,200 $1,059 $1,044 $1,107 $1,059 1.50% Nonperforming loans and leases 2,564 2,613 2,671 % of loans and leases1 0.54 % 0.56 % 0.58 % $800 1.0
Slide 15: Consumer Banking
Consumer Banking Inc / (Dec) • Net income of $3.0B Summary Income Statement ($MM) 2Q25 1Q25 2Q24 • Revenue of $10.8B increased 6% from 2Q24, driven Total revenue, net of interest expense $10,813 $320 $607 by higher net interest income Provision for credit losses 1,282 (10) 1 • Provision for credit l
Slide 16: Global Wealth & Investment Management
Global Wealth & Investment Management Inc / (Dec) • Net income of $1.0B Summary Income Statement ($MM) 2Q25 1Q25 2Q24 • Revenue of $5.9B increased 7% from 2Q24, driven Total revenue, net of interest expense $5,937 ($79) $363 primarily by higher asset management fees from Provision for credit losses
Slide 17: Global Banking
Global Banking Inc / (Dec) • Net income of $1.7B Summary Income Statement ($MM) 2Q25 1Q25 2Q24 • Revenue of $5.7B decreased 6% from 2Q24, driven Total revenue, net of interest expense1 $5,690 ($287) ($363) primarily by lower net interest income, leasing Provision for credit losses 277 123 42 revenue
Slide 18: Global Markets
Global Markets1 Inc / (Dec) • Net income of $1.5B ($1.6B excluding net DVA)3 Summary Income Statement ($MM) 2Q25 1Q25 2Q24 • Revenue of $6.0B increased 10% from 2Q24, driven Total revenue, net of interest expense2 $5,980 ($604) $521 primarily by higher sales and trading revenue Net DVA (51) (70) (50
Slide 19: All Other
All Other1 Inc / (Dec) • Net loss of $77MM Summary Income Statement ($MM) 2Q25 1Q25 2Q24 • The Corporation’s total effective tax rate (ETR) for Total revenue, net of interest expense ($1,812) ($253) ($57) the quarter was approximately 7%, which included Provision (benefit) for credit losses (9) (1)
Slide 20: Additional Presentation Information
Additional Presentation Information
Slide 21: 2025 YTD Consumer Payment Spend of $2.3T is up 4% YoY
2025 YTD Consumer Payment Spend1 of $2.3T is up 4% YoY Payment Spend ($ Volume) and YoY % Growth Payment Spend ($ and Transaction Volume) $2.3T Quarterly YoY % Growth $2.1T $2.2T $ Volume Transaction # $2.0T 20% 15% 13% 10% 5% 4% 4% 5% 4% 3% 0% 2022 YTD 2023 YTD 2024 YTD 2025 YTD 1Q 2Q 3Q 4Q 1Q 2Q 3
Slide 22: Supplemental Business Segment Trends
Supplemental Business Segment Trends
Slide 23: Consumer Banking Trends
Consumer Banking Trends Business Leadership1 Total Revenue ($B) Total Expense ($B) and Efficiency (A) • No. 1 in U.S. Consumer Deposits $5.8 $12.0 $10.8 $6.0 $5.5 $5.5 $5.6 $5.6 70% $10.2 $10.4 $10.6 $10.5 (B) • No. 1 Small Business Lender • No. 1 in Retail Banking Advice 2.2 2.1 2.1 2.1 2.0 Satisfa
Slide 24: Consumer Digital Update
Consumer1 Digital Update Digital Adoption Client Engagement Digital Users2 and Households3 Client Digital Interactions (B)4 Digitally-Enabled Sales5 60 57 58 59 100% 5.0 2,000 1,874 100% 55 1,770 4.1 1,640 1,659 47 49 4.0 3.5 50 46 90% 3.3 1,500 75% 3.1 43 2.8 2.9 3.0 2.6 2.3 65% 40 80% 1,000 50% 2.
Slide 25: Global Wealth & Investment Management Trends
Global Wealth & Investment Management Trends Business Leadership1 Average Deposits ($B) Average Loans and Leases ($B) • No. 1 on Forbes' Top Women Wealth Advisors $300 $288 $280 $285 $286 $277 $300 Best-in-State (2025), Best-in-State Wealth Management Teams (2025), and Top Next $237 64 68 72 77 $223
Slide 26: Global Wealth & Investment Management Digital Update
Global Wealth & Investment Management Digital Update Digital Adoption1 Client Engagement Digital Households / Relationships2 Digital Channel Adoption3 eDelivery4 800 761 100% 100% 100% 742 82% 718 76% 76% 78% 79% 78% 80% 690 75% 700 90% 75% 65% 75% 59% 62% 56% 600 85% 86% 80% 50% 50% 82% 83% 500 70%
Slide 27: Global Banking Trends
Global Banking Trends Business Leadership1 Average Deposits ($B) Average Loans and Leases ($B) (I) • North America’s Most Innovative Bank – 2025 $750 $500 • World’s Best Bank for Trade Finance and for FX Payments; North America’s Best Digital Bank, Best $582 $603 $373 $375 $379 $388 $550 $575 $371 B
Slide 28: Global Banking Digital Update
Global Banking Digital Update Digital Adoption Client Engagement Relationship Client Adoption %1 Mobile App Sign-ins (K)2 CashPro® App Payments 100% 3,000 $400 8.0 87% 86% 86% 86% 2,333 $314 75% $300 6.0 2,000 1,870 $253 1,594 $191 50% $200 $167 4.6 4.0 1,076 4.0 1,000 3.5 25% $100 2.8 2.0 0% 0 $0 0
Slide 29: Global Markets Trends and Revenue Mix
Global Markets Trends and Revenue Mix Business Leadership1 2025 YTD Global Markets Revenue Mix 2025 YTD Total FICC S&T Revenue Mix 2 • World's Best Bank for Markets(J) (excl. net DVA) (excl. net DVA)2 • CLO Trading Desk of the Year(O) • CMBS Bank of the Year(O) • Best Sell-Side Trading Desk(P) • Equ
Slide 30: Notes
Notes A Global Liquidity Sources (GLS) include cash and high-quality, liquid, unencumbered securities, inclusive of U.S. government securities, U.S. agency securities, U.S. agency MBS, and a select group of non-U.S. government and supranational securities, and other investment-grade securities, and
Slide 31: Business Leadership Sources
Business Leadership Sources (A) 1Q25 FFIEC Call Reports. (B) FDIC, 1Q25. (C) J.D. Power 2025 U.S. Retail Banking Advice Satisfaction Study measures customer satisfaction with retail bank advice / guidance in the past 12 months. For more information, visit jdpower.com/awards.* (D) J.D. Power 2025 U.S
Slide 32: Forward-Looking Statements
Forward-Looking Statements Bank of America Corporation (the Corporation) and its management may make certain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do
Slide 33: Important Presentation Information
Important Presentation Information • The information contained herein is preliminary and based on Corporation data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying slides. Bank of America does not undertake an obligati
Slide 34: Bank of America
BANK OF AMERICA