🔹 Revenue: $28.1B (Est. $27.59B) 🟢; UP +11% YoY
🔹 EPS: $1.06 (Est. $0.95) 🟢; UP +31% YoY
🔹 NII: $15.2B ($15.4B FTE) (Est. $15.03B) 🟢; UP +9% YoY
Guidance:
🔸 Q4 NII (FTE): $15.6B to $15.7B
🔹 Provision for Credit Losses: $1.3B; DOWN -16% YoY
🔹 Net Charge-Offs: $1.37B (Est. $1.52B) 🟢; DOWN -11% YoY
🔹 Noninterest Expense: $17.3B; UP +5% YoY
🔹 Total Loans: $1.17T (Est. $1.16T) 🟢; UP +8% YoY
🔹 Total Deposits: $2.00T (Est. $2.02T) 🔴; UP +4% YoY
🔹 Average Deposits: $1.99T; UP +4% YoY
🔹 Average Loans and Leases: $1.15T; UP +9% YoY
🔹 Efficiency Ratio: 62%; DOWN -329 bps YoY
Consumer Banking:
🔹 Net Income: $3.4B; UP +28% YoY
🔹 Revenue: $11.2B; UP +7% YoY
🔹 Average Deposits: $947B; UP +1% YoY
🔹 Average Loans and Leases: $320B; UP +2% YoY
🔹 Combined Credit/Debit Card Spend: $245B; UP +6% YoY
🔹 Net Checking Accounts Added: ~212,000 (27th consecutive quarter of growth)
🔹 Consumer Investment Assets: $580B; UP +17% YoY
🔹 Active Mobile Banking Users: 41.3MM
🔹 Digital Sales: 66% of total sales
Global Wealth & Investment Management:
🔹 Net Income: $1.3B; UP +19% YoY
🔹 Revenue: $6.3B; UP +10% YoY
🔹 Client Balances: $4.6T; UP +11% YoY
🔹 AUM Balances: ~$2.1T; UP +13% YoY
🔹 Average Loans and Leases: $246B; UP +9% YoY
🔹 Average Deposits: $277B; DOWN -1% YoY
🔹 AUM Flows: $23.5B
🔹 Net New Relationships: ~5,400 (Merrill and Private Bank)
Investment Banking Fees:
🔹 Total IB Fees: $2.013B; UP +43% YoY
Breaking down by category:
🔸 Debt: $1,109MM; UP +42% YoY
🔸 Equity: $362MM; UP +34% YoY
🔸 Advisory: $583MM; UP +51% YoY
Global Banking:
🔹 Net Income: $2.1B; UP +12% YoY
🔹 Revenue: $6.2B; UP +7% YoY
🔹 Total Corporation Investment Banking Fees (excl. self-led): $2.0B; UP +43% YoY
🔹 Average Deposits: $632B; UP +15% YoY
🔹 Average Loans and Leases: $388B; UP +5% YoY
🔹 Treasury Service Charges: UP +12% YoY
🔹 Middle Market Average Loans: UP +6% YoY
🔹 #3 Investment Banking Fee Ranking; 136 bps market share gain
Global Markets:
🔹 Net Income: $1.6B; UP +6% YoY
🔹 Revenue: $6.2B; UP +11% YoY
🔹 Sales and Trading Revenue: $5.4B; UP +9% YoY
🔹 Sales and Trading Revenue (excl. net DVA): $5.35B (Est. $5.01B) 🟢; UP +8% YoY
🔹 FICC Revenue: $3.1B (incl. and excl. net DVA); UP +5% YoY
🔹 Equities Revenue: $2.3B (incl. and excl. net DVA); UP +14% YoY
🔹 Investment Banking Fees: $834MM; UP +42% YoY
🔹 Average VaR: $66MM
Financial Ratios & Capital:
🔹 Net Income: $8.5B; UP +23% YoY
🔹 ROA: 0.98%
🔹 ROE: 11.5%
🔹 ROTCE: 15.4%
🔹 CET1 Ratio (Standardized): 11.6% (Est. 11.4%) 🟢
🔹 CET1 Capital: $203B; UP +1% QoQ
🔹 Book Value per Share: $37.95; UP +7% YoY
🔹 Tangible Book Value per Share: $28.39; UP +8% YoY
🔹 Average Global Liquidity Sources: $961B
Capital Distribution:
🔹 Common Dividend: $2.1B ($0.28/share, increased 8%)
🔹 Share Repurchases: $5.3B
🔹 Total Capital Returned: $7.4B
Credit Quality:
🔹 Net Charge-Off Ratio: 0.47%; DOWN -11 bps YoY
🔹 Nonperforming Loans: $5.3B; DOWN -6% QoQ
🔹 Allowance for Loan and Lease Losses: $13.3B (1.14% of total loans)
🔹 Credit Card Charge-Off Rate: 3.46%; DOWN from 3.82% QoQ
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Комментарий генерального директора Брайана Мойнихана:
🔸 «Благодаря значительному росту чистой прибыли разводненная прибыль на акцию в третьем квартале выросла на 31% по сравнению с прошлым годом. Это, в свою очередь, способствовало значительному повышению рентабельности активов и капитала».
🔸 «Выручка выросла на 11% по сравнению с прошлым годом. Значительный рост кредитов и депозитов в сочетании с позиционированием баланса привели к рекордному чистому процентному доходу».
🔸 «Мы также отметили высокие показатели комиссионных от наших рыночных подразделений. Поскольку выручка росла гораздо быстрее расходов, нам удалось добиться хорошего операционного рычага и коэффициента эффективности 62%».
🔸 «Благодаря продолжающемуся органическому росту все направления бизнеса продемонстрировали улучшение показателей как общей, так и конечной прибыли».
#bac
