BAC · Earnings call · 2026Q3T · Full report

Investment Banking Fee Trends

BANK OF AMERICA CORP /DE/ · 2026-10-14 · Importance 30 · Surprise 40

Management said investment-banking fees were up 16% year-to-date after nine months, while third-quarter activity softened as clients recalibrated valuations following the rate move. Despite the temporary pause, management said pipelines remained strong, the team added to the pipeline during the quarter, and commercial loan growth indicated that the capital-expenditure cycle continued. Management cited a healthy U.S. economy supported by consumers and AI capital expenditures, substantial capital needs among AI companies, and Bank of America’s third-place ranking in announced third-quarter M&A as reasons for remaining constructive on the fourth quarter.

Key facts

• Total company investment banking fees, excluding self-led transactions, were about $1.8 billion for the quarter.
• After nine months, Bank of America's investment banking fees are up 16% year-to-date.