Quarterly report [Sections 13 or 15(d)]

Business Segment Information (Tables)

v3.25.3
Business Segment Information (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment The following tables presents net income (loss) and the components thereto (with net interest income on an FTE basis for the business segments, All Other and the total Corporation) for the three and nine months ended September 30, 2025 and 2024, and total assets at September 30, 2025 and 2024 for each business segment, as well as All Other.
Results of Business Segments and All Other (1)
At and for the three months ended September 30
Total Corporation (2)
Consumer Banking Global Wealth & Investment Management
(Dollars in millions) 2025 2024 2025 2024 2025 2024
Net interest income $ 15,387  $ 14,114  $ 8,988  $ 8,278  $ 1,800  $ 1,709 
Noninterest income 12,855  11,378  2,178  2,140  4,512  4,053 
Total revenue, net of interest expense 28,242  25,492  11,166  10,418  6,312  5,762 
Provision for credit losses 1,295  1,542  1,009  1,302  4  7 
Noninterest expense
Compensation and benefits (3)
10,523  9,916  1,527  1,503  2,969  2,783 
Other noninterest expense 6,814  6,563  4,048  4,031  1,653  1,557 
Total noninterest expense 17,337  16,479  5,575  5,534  4,622  4,340 
Income before income taxes 9,610  7,471  4,582  3,582  1,686  1,415 
Income tax expense 1,141  575  1,145  895  421  354 
Net income $ 8,469  $ 6,896  $ 3,437  $ 2,687  $ 1,265  $ 1,061 
Period-end total assets $ 3,403,716  $ 3,324,293  $ 1,032,826  $ 1,026,293  $ 325,605  $ 328,831 
Global Banking Global Markets All Other
2025 2024 2025 2024 2025 2024
Net interest income $ 3,141  $ 3,230  $ 1,484  $ 898  $ (26) $ (1)
Noninterest income 3,104  2,604  4,740  4,732  (1,679) (2,151)
Total revenue, net of interest expense 6,245  5,834  6,224  5,630  (1,705) (2,152)
Provision for credit losses 269  229  9  7  4  (3)
Noninterest expense
Compensation and benefits (3)
1,126  1,080  985  877  —  — 
Other noninterest expense 1,918  1,911  2,910  2,566  201  171 
Total noninterest expense 3,044  2,991  3,895  3,443  201  171 
Income (loss) before income taxes 2,932  2,614  2,320  2,180  (1,910) (2,320)
Income tax expense (benefit) 806  719  673  632  (1,904) (2,025)
Net income (loss) $ 2,126  $ 1,895  $ 1,647  $ 1,548  $ (6) $ (295)
Period-end total assets $ 738,273  $ 650,936  $ 997,961  $ 958,227  $ 309,051  $ 360,006 
(1)Segment results are presented on an FTE basis and include additional net interest income and income tax expense, related to tax-exempt securities, of $154 million and $147 million for the three months ended September 30, 2025 and 2024, respectively, as compared to the Consolidated Statement of Income.
(2)There were no material intersegment revenues.
(3)Represents the compensation and benefits directly incurred by each segment.
Results of Business Segments and All Other (1)
At and for the nine months ended September 30
Total Corporation (2)
Consumer Banking Global Wealth & Investment Management
(Dollars in millions) 2025 2024 2025 2024 2025 2024
Net interest income $ 44,790  $ 42,166  $ 26,219  $ 24,593  $ 5,327  $ 5,216 
Noninterest income 37,571  34,839  6,253  6,197  12,938  11,711 
Total revenue, net of interest expense 82,361  77,005  32,472  30,790  18,265  16,927 
Provision for credit losses 4,367  4,369  3,583  3,733  38  1 
Noninterest expense
Compensation and benefits (3)
31,744  29,937  4,652  4,549  8,967  8,280 
Other noninterest expense 20,546  20,088  12,316  11,924  4,907  4,523 
Total noninterest expense 52,290  50,025  16,968  16,473  13,874  12,803 
Income before income taxes 25,704  22,611  11,921  10,584  4,353  4,123 
Income tax expense 2,723  2,144  2,980  2,646  1,088  1,031 
Net income $ 22,981  $ 20,467  $ 8,941  $ 7,938  $ 3,265  $ 3,092 
Period-end total assets $ 3,403,716  $ 3,324,293  $ 1,032,826  $ 1,026,293  $ 325,605  $ 328,831 
Global Banking Global Markets All Other
2025 2024 2025 2024 2025 2024
Net interest income $ 9,373  $ 9,965  $ 3,940  $ 2,349  $ (69) $ 43 
Noninterest income 8,539  7,902  14,848  14,623  (5,007) (5,594)
Total revenue, net of interest expense 17,912  17,867  18,788  16,972  (5,076) (5,551)
Provision for credit losses 700  693  59  (42) (13) (16)
Noninterest expense
Compensation and benefits (3)
3,406  3,292  2,980  2,715  —  — 
Other noninterest expense 5,892  5,610  8,532  7,706  638  1,426 
Total noninterest expense 9,298  8,902  11,512  10,421  638  1,426 
Income (loss) before income taxes 7,914  8,272  7,217  6,593  (5,701) (6,961)
Income tax expense (benefit) 2,176  2,275  2,093  1,912  (5,614) (5,720)
Net income (loss) $ 5,738  $ 5,997  $ 5,124  $ 4,681  $ (87) $ (1,241)
Period-end total assets $ 738,273  $ 650,936  $ 997,961  $ 958,227  $ 309,051  $ 360,006 
(1)Segment results are presented on an FTE basis and include additional net interest income and income tax expense, related to tax-exempt securities, of $444 million and $465 million for the nine months ended September 30, 2025 and 2024, respectively, as compared to the Consolidated Statement of Income.
(2)There were no material intersegment revenues.
(3)Represents the compensation and benefits directly incurred by each segment.
The table below presents noninterest income and the associated components for the three and nine months ended September 30, 2025 and 2024 for each business segment, All Other and the total Corporation. For more information, see Note 2 – Net Interest Income and Noninterest Income.
Noninterest Income by Business Segment and All Other
Total Corporation Consumer Banking Global Wealth &
Investment Management
Three Months Ended September 30
(Dollars in millions) 2025 2024 2025 2024 2025 2024
Fees and commissions:
Card income
Interchange fees $ 990  $ 1,030  $ 785  $ 824  $ (12) $ (5)
Other card income 639  588  618  578  18  14 
Total card income 1,629  1,618  1,403  1,402  6  9 
Service charges
Deposit-related fees 1,267  1,198  645  631  10  12 
Lending-related fees 365  354  —  —  20  12 
Total service charges 1,632  1,552  645  631  30  24 
Investment and brokerage services
Asset management fees 3,972  3,533  64  52  3,911  3,482 
Brokerage fees 1,091  1,013  30  28  423  392 
Total investment and brokerage services
5,063  4,546  94  80  4,334  3,874 
Investment banking fees
Underwriting income 992  742  —  —  63  64 
Syndication fees 438  274  —  —  —  — 
Financial advisory services 583  387  —  —  2  — 
Total investment banking fees 2,013  1,403  —  —  65  64 
Total fees and commissions 10,337  9,119  2,142  2,113  4,435  3,971 
Market making and similar activities 3,203  3,278  5  5  31  35 
Other income (loss) (685) (1,019) 31  22  46  47 
Total noninterest income $ 12,855  $ 11,378  $ 2,178  $ 2,140  $ 4,512  $ 4,053 
Global Banking Global Markets All Other
Three Months Ended September 30
2025 2024 2025 2024 2025 2024
Fees and commissions:
Card income
Interchange fees $ 200  $ 197  $ 17  $ 14  $ —  $ — 
Other card income 4  3  —  —  (1) (7)
Total card income 204  200  17  14  (1) (7)
Service charges
Deposit-related fees 597  534  14  21  1  — 
Lending-related fees 266  268  79  74  —  — 
Total service charges 863  802  93  95  1  — 
Investment and brokerage services
Asset management fees —  —  —  —  (3) (1)
Brokerage fees 24  31  614  562  —  — 
Total investment and brokerage services
24  31  614  562  (3) (1)
Investment banking fees
Underwriting income 398  285  572  426  (41) (33)
Syndication fees 221  147  217  127  —  — 
Financial advisory services 536  351  45  36  —  — 
Total investment banking fees 1,155  783  834  589  (41) (33)
Total fees and commissions 2,246  1,816  1,558  1,260  (44) (41)
Market making and similar activities 73  66  3,141  3,349  (47) (177)
Other income (loss) 785  722  41  123  (1,588) (1,933)
Total noninterest income $ 3,104  $ 2,604  $ 4,740  $ 4,732  $ (1,679) $ (2,151)
Noninterest Income by Business Segment and All Other
Total Corporation Consumer Banking Global Wealth &
Investment Management
Nine Months Ended September 30
(Dollars in millions) 2025 2024 2025 2024 2025 2024
Fees and commissions:
Card income
Interchange fees $ 2,942  $ 2,984  $ 2,316  $ 2,371  $ (25) $ (16)
Other card income 1,851  1,678  1,799  1,664  51  44 
Total card income 4,793  4,662  4,115  4,035  26  28 
Service charges
Deposit-related fees 3,760  3,492  1,890  1,823  35  33 
Lending-related fees 1,048  1,009  —  —  50  38 
Total service charges 4,808  4,501  1,890  1,823  85  71 
Investment and brokerage services
Asset management fees 11,408  10,173  177  152  11,241  10,028 
Brokerage fees 3,248  2,880  85  84  1,215  1,153 
Total investment and brokerage services
14,656  13,053  262  236  12,456  11,181 
Investment banking fees
Underwriting income 2,568  2,512  —  —  197  184 
Syndication fees 1,096  886  —  —  —  — 
Financial advisory services 1,300  1,134  —  —  2  — 
Total investment banking fees 4,964  4,532  —  —  199  184 
Total fees and commissions 29,221  26,748  6,267  6,094  12,766  11,464 
Market making and similar activities 9,940  10,464  19  16  93  107 
Other income (loss) (1,590) (2,373) (33) 87  79  140 
Total noninterest income $ 37,571  $ 34,839  $ 6,253  $ 6,197  $ 12,938  $ 11,711 
Global Banking Global Markets All Other
Nine Months Ended September 30
2025 2024 2025 2024 2025 2024
Fees and commissions:
Card income
Interchange fees $ 601  $ 578  $ 50  $ 51  $ —  $ — 
Other card income 12  8  —  —  (11) (38)
Total card income 613  586  50  51  (11) (38)
Service charges
Deposit-related fees 1,786  1,568  45  66  4  2 
Lending-related fees 767  759  231  212  —  — 
Total service charges 2,553  2,327  276  278  4  2 
Investment and brokerage services
Asset management fees —  —  —  —  (10) (7)
Brokerage fees 65  70  1,883  1,573  —  — 
Total investment and brokerage services
65  70  1,883  1,573  (10) (7)
Investment banking fees
Underwriting income 1,042  1,011  1,514  1,453  (185) (136)
Syndication fees 561  467  535  419  —  — 
Financial advisory services 1,166  990  132  144  —  — 
Total investment banking fees 2,769  2,468  2,181  2,016  (185) (136)
Total fees and commissions 6,000  5,451  4,390  3,918  (202) (179)
Market making and similar activities 207  212  10,063  10,397  (442) (268)
Other income (loss) 2,332  2,239  395  308  (4,363) (5,147)
Total noninterest income $ 8,539  $ 7,902  $ 14,848  $ 14,623  $ (5,007) $ (5,594)