BofA: third-quarter profit falls to $6.9bn, weighed down by a $1.2bn fine
(Il Sole 24 Ore Radiocor) - In the third quarter, Bank of America reported a fall in net profit to $6.9 billion, compared with $8.3 billion in the same period of 2025. Earnings per share stood at $0.91 ($1.04 in the same period of 2025). Revenue rose by 3 per cent year-on-year to $30 billion.
Net interest income (NII) amounted to $16.4 billion, up 8 per cent, driven mainly by the increase in loan and deposit balances, the rise in NII linked to Global Markets activities, and the revaluation of fixed-rate assets.
The third-quarter results have been weighed down by the fine of over 1.2 billion dollars imposed on the bank by US regulatory authorities for a breach of anti-money laundering laws. The results, the statement specifies, include the 1.2 billion dollar charge relating to the settlement agreement. On an adjusted basis, third-quarter profit stands at 8.1 billion, with earnings per share (EPS) at $1.08.
The Treasury Department had stated that the fine, the third-highest ever imposed in the department’s history, was due to the bank’s failure to report suspicious transactions totalling over $5 billion to the government, of which $1 billion posed risks to national security and other priority risks of illicit financing.
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