Quarterly report [Sections 13 or 15(d)]

Business Segment Information

v3.26.1
Business Segment Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
The Corporation reports its results of operations through the following four business segments: Consumer Banking, Global Wealth & Investment Management, Global Banking and Global Markets, with the remaining operations recorded in All Other. For more information, see Note 23 – Business Segment Information to the Consolidated Financial Statements of the
Corporation’s 2025 Annual Report on Form 10-K. The following table 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 months ended March 31, 2026 and 2025, and total assets at March 31, 2026 and 2025 for each business segment, as well as All Other.
Results of Business Segments and All Other (1)
At and for the three months ended March 31
Total Corporation (2)
Consumer Banking Global Wealth & Investment Management
(Dollars in millions) 2026 2025 2026 2025 2026 2025
Net interest income $ 15,907  $ 14,588  $ 8,993  $ 8,505  $ 1,862  $ 1,765 
Noninterest income 14,527  13,804  2,056  1,988  4,850  4,251 
Total revenue, net of interest expense 30,434  28,392  11,049  10,493  6,712  6,016 
Provision for credit losses 1,337  1,480  1,132  1,292  2  14 
Noninterest expense
Compensation and benefits (3)
11,334  10,889  1,588  1,570  3,260  3,031 
Other noninterest expense 7,197  6,881  4,249  4,256  1,678  1,628 
Total noninterest expense 18,531  17,770  5,837  5,826  4,938  4,659 
Income before income taxes 10,566  9,142  4,080  3,375  1,772  1,343 
Income tax expense 1,982  1,782  1,020  844  443  336 
Net income $ 8,584  $ 7,360  $ 3,060  $ 2,531  $ 1,329  $ 1,007 
Period-end total assets $ 3,496,186  $ 3,349,039  $ 1,058,618  $ 1,054,637  $ 336,511  $ 329,816 
Global Banking Global Markets All Other
2026 2025 2026 2025 2026 2025
Net interest income $ 3,230  $ 3,151  $ 1,861  $ 1,189  $ (39) $ (22)
Noninterest income 3,057  2,841  5,248  5,396  (684) (672)
Total revenue, net of interest expense 6,287  5,992  7,109  6,585  (723) (694)
Provision for credit losses 185  154  27  28  (9) (8)
Noninterest expense
Compensation and benefits (3)
1,212  1,240  1,158  1,052  —  — 
Other noninterest expense 2,011  1,944  3,212  2,759  163  290 
Total noninterest expense 3,223  3,184  4,370  3,811  163  290 
Income (loss) before income taxes 2,879  2,654  2,712  2,746  (877) (976)
Income tax expense (benefit) 792  730  705  796  (978) (924)
Net income (loss) $ 2,087  $ 1,924  $ 2,007  $ 1,950  $ 101  $ (52)
Period-end total assets $ 745,299  $ 687,169  $ 1,091,745  $ 959,477  $ 264,013  $ 317,940 
(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 $162 million and $145 million for the three months ended March 31, 2026 and 2025, 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 months ended March 31, 2026 and 2025 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 March 31
(Dollars in millions) 2026 2025 2026 2025 2026 2025
Fees and commissions:
Card income
Interchange fees $ 865  $ 916  $ 665  $ 710  $ (14) $ (6)
Other card income 628  602  608  587  16  16 
Total card income 1,493  1,518  1,273  1,297  2  10 
Service charges
Deposit-related fees 1,306  1,228  638  618  15  13 
Lending-related fees 368  333  —  —  17  14 
Total service charges 1,674  1,561  638  618  32  27 
Investment and brokerage services
Asset management fees 4,312  3,738  74  55  4,241  3,687 
Brokerage fees 1,229  1,075  28  28  430  402 
Total investment and brokerage services
5,541  4,813  102  83  4,671  4,089 
Investment banking fees
Underwriting income 951  770  —  —  82  69 
Syndication fees 337  369  —  —  —  — 
Financial advisory services 553  384  —  —  —  — 
Total investment banking fees 1,841  1,523  —  —  82  69 
Total fees and commissions 10,549  9,415  2,013  1,998  4,787  4,195 
Market making and similar activities 3,637  3,584  7  8  31  34 
Other income (loss) 341  805  36  (18) 32  22 
Total noninterest income $ 14,527  $ 13,804  $ 2,056  $ 1,988  $ 4,850  $ 4,251 
Global Banking Global Markets All Other
Three Months Ended March 31
2026 2025 2026 2025 2026 2025
Fees and commissions:
Card income
Interchange fees $ 198  $ 198  $ 16  $ 14  $ —  $ — 
Other card income 4  4  —  —  —  (5)
Total card income 202  202  16  14  —  (5)
Service charges
Deposit-related fees 639  582  14  14  —  1 
Lending-related fees 265  244  86  75  —  — 
Total service charges 904  826  100  89  —  1 
Investment and brokerage services
Asset management fees —  —  —  —  (3) (4)
Brokerage fees 11  18  760  627  —  — 
Total investment and brokerage services
11  18  760  627  (3) (4)
Investment banking fees
Underwriting income 373  322  547  453  (51) (74)
Syndication fees 177  186  160  183  —  — 
Financial advisory services 497  339  55  45  1  — 
Total investment banking fees 1,047  847  762  681  (50) (74)
Total fees and commissions 2,164  1,893  1,638  1,411  (53) (82)
Market making and similar activities 81  66  3,721  3,622  (203) (146)
Other income (loss) 812  882  (111) 363  (428) (444)
Total noninterest income $ 3,057  $ 2,841  $ 5,248  $ 5,396  $ (684) $ (672)