Bank of America profit rises as market volatility fuels trading gains

Bank of America posted $9.1 billion in second-quarter profit as violent swings in global markets pushed clients to trade more, hedge risk and reposition portfolios. Revenue climbed 15% from a year earlier to $31.6 billion, while sales and trading revenue hit a record $7.1 billion and equities revenue jumped 70% to $3.6 billion.

The Charlotte, North Carolina bank said earnings per share rose to $1.21 from 90 cents a year earlier, and return on tangible common equity reached 17%. Operating leverage came in at 6.6%, with an efficiency ratio of 59%, showing the bank converted higher revenue into stronger profitability even as the macro backdrop stayed unsettled.

Chief executive Brian Moynihan called the quarter one of the bank’s strongest to date and pointed to a “healthy economic backdrop” and “resilient consumers.” Bank of America said all business segments posted double-digit net income growth, and investment banking fees rose 50% year over year as mergers, acquisitions and other capital-markets transactions picked up.

The results underline a split inside banking: the same uncertainty that can make households and small businesses cautious often helps Wall Street trading desks. Geopolitical tension, including U.S.-Iran uncertainty, higher oil prices and lingering debate over interest rates and inflation, drove more active client flows during the quarter. For a bank with a large markets business, that translated into more activity, higher fee income and a record trading quarter rather than a slowdown.

Bank of America also said it expects full-year 2026 net interest income to grow at the upper end of its prior 6% to 8% range, a sign that lending income remains on track even after a quarter dominated by market turbulence. The bank had reported first-quarter 2026 net income of $7.4 billion on revenue of $30.3 billion, so the second quarter marked a clear step up in both profit and revenue momentum.

The earnings call was set for July 14, 2026 at 8:30 a.m. ET, with replays available through July 24. For now, the quarter shows how volatility can lift a giant bank’s trading arm even when the broader economy still feels uneasy.