4Semanaยท

$BAC (-0,32ย %) | Bank of America Q3'24 Earnings Highlights:


๐Ÿ”น EPS: $0.81 (Est. $0.77) ๐ŸŸข

๐Ÿ”น Revenue: $25.35B (Est. $25.27B) ๐ŸŸข; UP 1% YoY

๐Ÿ”น Net Interest Income (FTE): $14.11B (Est. $14.07B) ๐ŸŸข

๐Ÿ”น Net Interest Income: $14.0B; DOWN $0.4B YoY

๐Ÿ”น Net Interest Yield: 1.92% (Est. 1.93%) ๐Ÿ˜; DOWN 19 bps YoY

๐Ÿ”น Provision for Credit Losses: $1.54B (Est. $1.53B) ๐Ÿ˜; UP 25% YoY

๐Ÿ”น Net Charge-offs: $1.53B (Est. $1.5B) ๐Ÿ˜; UP 65% YoY

๐Ÿ”น Non-interest Expense: $16.48B (Est. $16.49B ๐Ÿ˜); UP 4% YoY


Segment Performance:


Consumer Banking:

๐Ÿ”ธ Net Income: $2.7B; DOWN 7% YoY

๐Ÿ”ธ Revenue: $10.4B; DOWN 1% YoY

๐Ÿ”ธ Combined Credit/Debit Card Spend: $232B; UP 3% YoY

๐Ÿ”ธ Consumer Investment Assets: Record $497B; UP 28% YoY


Global Wealth & Investment Management:

๐Ÿ”ธ Net Income: $1.9B; DOWN 6% YoY

๐Ÿ”ธ Revenue: $5.76B (Est. $5.63B) ๐ŸŸข; driven by 14% growth in asset management fees

๐Ÿ”ธ Client Balances: Record $4.2T; UP 18% YoY


Global Markets:

๐Ÿ”ธ Sales & Trading (excl. DVA): $4.94B (Est. $4.57B) ๐ŸŸข; UP 12% YoY

๐Ÿ”ธ FICC Trading (excl. DVA): $2.94B (Est. $2.77B) ๐ŸŸข; UP 8% YoY

๐Ÿ”ธ Equities Trading (excl. DVA): $2.00B (Est. $1.81B) ๐ŸŸข; UP 18% YoY


Investment Banking:

๐Ÿ”ธ Revenue: $1.40B (Est. $1.24B) ๐ŸŸข


Profitability Metrics:


๐Ÿ”น Return on Average Equity: 9.44% (Est. 9.01%)

๐Ÿ”น Return on Average Assets: 0.83% (Est. 0.78%)

๐Ÿ”น Return on Average Tangible Common Equity: 12.8% (Est. 12.2%)


Balance Sheet:

๐Ÿ”น Total Loans: $1.08T (Est. $1.07T); UP 1% YoY

๐Ÿ”น Total Deposits: $1.93T (Est. $1.93T); DOWN 4% YoY


Capital Ratios:

๐Ÿ”น Standardized CET1 Ratio: 11.8% (Est. 11.9%)

๐Ÿ”น Basel III CET1 Ratio (Advanced Approach): 13.5% (Est. 13.5%)


Additional Highlights:

๐Ÿ”น Compensation Expenses: $9.92B (Est. $9.90B)

๐Ÿ”น Non-interest Expenses: $16.48B (Est. $16.49B)

๐Ÿ”น Allowance for Loan Losses: $13.3B, representing 1.24% of total loans

๐Ÿ”น Efficiency Ratio: 65%; compared to 63% in Q3 2023

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