NEW YORK (Reuters) - Bank of America expects record net interest income in 2025, the head of its retail banking unit said on Tuesday.

"We're expecting record NII in 2025 right, growing at 6% to 7%, and consumer will be a contributor to that," Holly O' Neil told a UBS financial services conference.

The bank had projected NII, the difference between what they earn on loans and pay out for deposits, to grow to $15.5 billion to $15.7 billion by the fourth quarter of 2025.