Bank of America today posted its financial report for the final quarter of 2024, with Global Markets net income increasing compared to the equivalent period in 2023.
Global Markets reported net income of $941 million, up from $636 million in the fourth quarter of 2023.
The segment reported revenue of $4.8 billion, up 18% year-on-year, driven by higher sales and trading revenue and investment banking fees.
Noninterest expense of $3.5 billion increased 7% due to higher revenue-related expenses and investments in the business, including technology.
Sales and trading revenue of $4.1 billion increased 13% in annual terms. FICC revenue increased 19% to $2.5 billion, driven by improved trading performance in macro products and continued strength in credit products. Equities revenue increased…
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