Jan 17 (Reuters) - Bank of America ( BAC ) is set to

award stock to most of its global employees for the eighth time

since 2017, following a robust performance by the second-largest

U.S. lender in 2024, according to an internal memo seen by

Reuters on Friday.

The stock awards, which will be issued in addition to

year-end incentive awards, would be granted to employees earning

an annual total compensation of up to $500,000, covering about

97% of the lender's global workforce.

Earlier this week, BofA's fourth-quarter profit beat

expectations, boosted by trading activity. The lender also

predicted it would earn higher interest income for 2025.

For the full year of 2024, the banking giant's revenue

surpassed $100 billion, driven by strong growth in fee income,

and its profit came in at $27.1 billion.

"Every source of revenue increased, and we saw better than

industry growth in deposits and loans," BofA CEO Brian Moynihan

said in an earnings release. "We believe this broad momentum

sets up 2025 very well."

Wall Street CEOs also voiced confidence that the incoming

U.S. administration would maintain a business-friendly

environment beneficial to banks. This comes as the country's top

lenders report a surge in profits, driven by an uptick in

dealmaking and trading activities.

Bankers expect global deal volumes to surpass $4 trillion in

2025, the highest level in four years.

The broader operating environment has been favorable for the

banking industry, propelled by strong equity markets and

analysts' expectations that President-elect Donald Trump will

implement a deregulatory and lower-tax agenda.

Earlier this month, Reuters reported, citing a source, that

BofA's bonus pool for investment bankers will probably rise 10%

for the previous year.

The bank's stock surged 30.5% in 2024, outperforming the

broader equity markets.

Stock awards are typically issued to reward employees,

retain top talent, and align their interests with the company's

long-term success.