Q1 2026 Bank of America Corp Earnings Call Transcript
Key Points
- Bank of America Corp (BAC) reported a 7% year-over-year revenue growth to $30.3 billion for Q1 2026.
- Earnings per share increased by 25% year-over-year to $1.11, demonstrating strong profitability.
- The company achieved a return on tangible common equity (ROTCE) of 16%, indicating efficient capital utilization.
- Net interest income exceeded expectations, rising 9% year-over-year to $15.9 billion.
- Every segment of the company contributed to year-over-year growth in revenue, earnings, deposits, and loans.
- The CET1 capital ratio declined by 14 basis points to 11.2%, primarily due to capital returns to shareholders.
- Noninterest expense increased by 4% year-over-year to $18.5 billion, reflecting higher revenue-related incentives.
- The efficiency ratio, although improved, remains at 61%, indicating room for further operational efficiency.
- Provision expense was $1.3 billion, reflecting ongoing credit risk management despite benign credit results.
- The company faces macroeconomic uncertainties, including inflation and geopolitical risks, which could impact future performance.
(Operator Instructions). Please note this call is being recorded. We are standing by if you should need any assistance. It is now my pleasure to turn the meeting over to Lee McEntire with Bank of America.
Good morning. Thank you. Thanks for joining us to talk through our first quarter results. As always, the earnings release and presentation are posted on the Investor Relations section of bankofamerica.com and we'll reference those materials during the call.
Brian will start us off with a few opening thoughts, and then Alastair will walk through the quarter and provide more detail on the results. Before we begin, quick reminder that during the call, we may make forward-looking statements and refer to non-GAAP financial measures.
Those reflect management's current views and are subject to risks and uncertainties, which are outlined along with the relevant GAAP reconciliations in our earnings material and the SEC filings on our website. With that, Brian, over to you.
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