Bank of America said Wednesday its third-quarter profit fell 17% from a year earlier as a $1.2 billion regulatory fine and a slowdown in its Wall Street machinery hit higher loan revenue. Bank of America (BAC) shares fell more than 3% in premarket trading. The nation’s second-largest bank reported third-quarter net income of $6.93 billion, or $0.91 per share, compared with the $1.10 per share analysts had expected. “Excluding the regulatory penalty, Bank of America said it earned $8.1 billion, or $1.08 per share, with adjusted earnings per share rising 4% from a year earlier. Revenue rose 3% to $30 billion, compared with expectations of about $30.6 billion. FILE PHOTO: The Bank of America logo appears in this illustration created Dec. 1, 2025. REUTERS/Dado Ruvic/Illustration/File Photo · Reuters / REUTERS U.S. regulators charged the The Charlotte, North Carolina-based bank was fined $1.2 billion on Tuesday afternoon for widespread failures in the banking giant’s safeguards against money laundering and other illicit financial activities. Excluding the regulatory penalty, Bank of America said it made $8.1 billion. dollars, or $1.08 per share. “While investment banking and sales and trading revenues were lower, commercial lending grew across all customer segments,” Bank of America CEO Brian Moynihan said in a statement. “Customer deposits, wealth flows and consumer activity supported strong earnings, balance sheet growth and long-term shareholder value,” Bank of America Chief Financial Officer Alastair Borthwick said. Borthwick declined to specify when regulators might formally conclude the remediation process. activity in some of its businesses on Wall Street. Still beating analyst forecasts after CEO Moynihan announced the bank’s relatively weaker period for deal trading, fixed income trading revenue fell 17% from a year earlier to $2.6 billion, offsetting an 11% rise in equity trading revenue to $2.5 billion.
