11:19 AM EST, 01/16/2025 (MT Newswires) -- Bank of America ( BAC ) reported stronger-than-expected growth in fourth-quarter results as investment banking fees jumped and loans picked up, while the lender said that net interest income will accelerate in the second half of 2025 from the first half.

Per-share earnings advanced to $0.82 for the three months ended Dec. 31 from $0.35 a year ago and surpassed the $0.77 average analyst estimate on FactSet.

Total revenue, net of interest expense, rose to $25.35 billion from $21.96 billion and topped the $25.12 billion consensus. The top-line was driven by higher asset management and investment banking fees, as well as trading revenue, the bank said.

Noninterest income climbed to $10.99 billion from $8.01 billion in the same period of 2023. Net interest income rose 3% to $14.36 billion amid factors including global markets activity and loan growth. Net interest income on a fully taxable-equivalent basis totaled $14.51 billion in the fourth quarter.

"We finished 2024 with a strong fourth quarter," Chief Executive Brian Moynihan said in a statement. "Every source of revenue increased, and we saw better than industry growth in deposits and loans."

Revenue in consumer banking increased 3% to $10.65 billion. Global banking revenue improved by 3% to $6.09 billion as investment banking fees soared 44%.

Global wealth and investment management revenue soared 15% to $6 billion, driven by a 23% increase in asset management fees. The top line for the company's global markets segment advanced 18% year over year to $4.84 billion due to a 13% improvement in sales and trading revenue.

Consolidated net interest income is expected to reach between $14.5 billion and $14.6 billion on a fully taxable-equivalent basis in the first quarter and then accelerate in the second half of the year to reach $15.5 billion to $15.7 billion by the fourth quarter, the bank said.

That compares with NII of $14.03 billion in the first quarter of 2024, or $14.19 billion on an FTE basis.

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