Quarterly report [Sections 13 or 15(d)]

Net Interest Income and Noninterest Income

v3.26.1
Net Interest Income and Noninterest Income
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Net Interest Income and Noninterest Income Net Interest Income and Noninterest Income
The table below presents the Corporation’s net interest income and noninterest income disaggregated by revenue source for the three and six months ended June 30, 2026 and 2025. For more information, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation’s 2025 Annual Report on Form 10-K. For a disaggregation of noninterest income by business segment and All Other, see Note 17 – Business Segment Information.
Three Months Ended June 30 Six Months Ended June 30
(Dollars in millions) 2026 2025 2026 2025
Net interest income
Interest income
Loans and leases $ 15,863  $ 15,651  $ 31,346  $ 30,874 
Debt securities 6,032  6,913  12,323  13,680 
Federal funds sold and securities borrowed or purchased under agreements to resell 4,185  4,094  8,042  7,868 
Trading account assets 3,063  3,057  6,261  6,065 
Other interest income (1)
4,689  5,158  9,219  10,452 
Total interest income 33,832  34,873  67,191  68,939 
Interest expense
Deposits 7,372  8,681  14,673  17,313 
Short-term borrowings 6,607  7,435  13,117  14,398 
Trading account liabilities 756  676  1,501  1,383 
Long-term debt 3,100  3,411  6,158  6,732 
Total interest expense 17,835  20,203  35,449  39,826 
Net interest income $ 15,997  $ 14,670  $ 31,742  $ 29,113 
Noninterest income
Fees and commissions
Card income
Interchange fees (2)
$ 947  $ 1,036  $ 1,812  $ 1,952 
Other card income 636  610  1,264  1,212 
Total card income 1,583  1,646  3,076  3,164 
Service charges
Deposit-related fees 1,336  1,265  2,642  2,493 
Lending-related fees 370  350  738  683 
Total service charges 1,706  1,615  3,380  3,176 
Investment and brokerage services
Asset management fees 4,427  3,698  8,739  7,436 
Brokerage fees 1,226  1,082  2,455  2,157 
Total investment and brokerage services 5,653  4,780  11,194  9,593 
Investment banking fees
Underwriting income 1,220  806  2,171  1,576 
Syndication fees 360  289  697  658 
Financial advisory services 558  333  1,111  717 
Total investment banking fees 2,138  1,428  3,979  2,951 
Total fees and commissions 11,080  9,469  21,629  18,884 
Market making and similar activities 4,177  3,153  7,814  6,737 
Other income (loss) 304  151  645  956 
Total noninterest income $ 15,561  $ 12,773  $ 30,088  $ 26,577 
(1)Includes interest income on interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks of $2.2 billion and $2.8 billion for the three months ended June 30, 2026 and 2025, and $4.3 billion and $5.7 billion for the six months ended June 30, 2026 and 2025.
(2)Gross interchange fees and merchant income were $3.7 billion and $3.5 billion for the three months ended June 30, 2026 and 2025, and are presented net of $2.7 billion and $2.4 billion of expenses for rewards and partner payments as well as certain other card costs for the same periods. Gross interchange fees and merchant income were $7.1 billion and $6.8 billion for the six months ended June 30, 2026 and 2025 and are presented net of $5.3 billion and $4.8 billion of expenses for rewards and partner payments as well as certain other card costs for the same periods.