08:51 AM EDT, 10/15/2025 (MT Newswires) -- Bank of America ( BAC ) reported stronger-than-expected third-quarter results on Wednesday, buoyed by double-digit gains in investment banking and asset management fees.

The banking giant's per-share earnings climbed to $1.06 for the September quarter from $0.81 a year earlier, topping the FactSet-polled consensus of $0.95. Total revenue, made up of net interest and noninterest income, advanced 11% to $28.09 billion, surpassing the Street's view for $27.52 billion. The stock rose 4.4% in the most recent premarket activity.

Consolidated net interest income grew 9% to $15.23 billion, amid "strong loan and deposit growth, coupled with effective balance sheet positioning," Chief Executive Brian Moynihan said in the earnings release. Noninterest income inclined to $12.89 billion from $11.38 billion in the prior-year quarter.

"We also saw strong fee performance from our market-facing businesses," according to Moynihan. "With continued organic growth, every line of business reported top and bottom-line improvements."

Global banking revenue increased 7% to $6.25 billion, driven mainly by a 43% jump in investment banking fees to $2 billion, as well as treasury service charges. On Tuesday, JPMorgan Chase (JPM), Wells Fargo (WFC), Goldman Sachs (GS) and Citigroup (C) all reported better-than-expected third-quarter results, amid investment banking growth.

Consumer banking revenue rose to $11.17 billion from $10.42 billion a year ago. Revenue in the global wealth and investment management division increased 10% to $6.31 billion, boosted by a 12% rise in asset management fees to $3.9 billion, higher market valuations and robust asset under management flows, Bank of America ( BAC ) said.

Global markets revenue moved 11% higher to $6.22 billion, driven by sales and trading revenue and investment banking fees. The bank's fixed income, currencies and commodities revenue increased 5% to $3.1 billion, while equities revenue climbed 14%.

Provision for credit losses narrowed to $1.3 billion from $1.54 billion in the 2024 quarter. "Liquidity and capital improved and our asset quality included a decline in net charge-offs, positioning us to be well-prepared to grow with clients and deliver for shareholders," Chief Financial Officer Alastair Borthwick said.