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Bank of America’s Merrill and Private Bank posted a 9% revenue jump to $6.3 bn in Q3 2025, driven by $253 bn in client loans and rising asset inflows.
Bank of America’s wealth management arm reported a record $6.3 billion in revenue for the July‑September quarter, up 9% year‑over‑year, as loan balances to clients climbed 11% to $253 billion and asset inflows surged 10% to $24 billion [2].
| At a glance | |
|---|---|
| Revenue | $6.3 bn (up 9% YoY) |
| Client loan balance | $253 bn (up 11% YoY) |
| Net new assets | $24 bn (up 10% YoY) |
| Banking adoption among Merrill clients | 53% (up 10 pp) |
The $6.3 bn revenue figure eclipses the previous quarterly high and beats analysts’ consensus for a modest increase, according to the earnings call. Executives said the boost came largely from “cross‑selling” banking services—particularly loans—to existing wealth clients. Client loan balances rose to $253 bn, an 11% rise from the same quarter a year earlier, underscoring the effectiveness of this strategy [2].
Merrill and the Private Bank also attracted $24 bn of net new assets in Q3, lifting total assets under management to $2.1 tn, a 13% year‑over‑year gain. Deposits and loans added to this total brought the combined client balances across all Bank of America businesses to $6.4 tn, with $3.9 tn held at Merrill alone [2]. The firms opened 26,000 new bank accounts in the quarter, pushing the share of Merrill clients with a Bank of America account to 53%—up 10 percentage points from a few years ago—and targeting 60% within the next three to four years [2].
Non‑interest expenses rose 6% YoY to $4.6 bn, reflecting “revenue‑related incentives and investments in people,” which offset some of the revenue upside. Despite higher costs, net income for the wealth units climbed 19% to nearly $1.3 bn, indicating that the loan‑driven revenue growth more than compensated for the expense increase [2].
The record revenue highlights how Bank of America is leveraging its extensive banking network to deepen relationships with wealth clients, but rising expenses and a potentially volatile interest‑rate environment pose ongoing challenges to maintaining the growth trajectory.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 2 outlets · Jul 9, 2026 · How we report
Banking involves accepting deposits that are repayable on demand for the purpose of lending and investment. These core functions are performed by commercial banks to facilitate financial circulation within an economy.
Artificial intelligence is used in Banking to improve efficiency in areas such as loan processing and customer interaction through virtual assistants. However, experts note that AI should be paired with human oversight for complex decisions, such as those involving large commercial loans.
As of August 2026, top Banking apps provide features such as mobile check deposits, Zelle transfers, credit score monitoring, and budgeting tools. Some apps also include virtual assistants to help users manage transactions and view account statements.
Banking in India is defined by the role of the Reserve Bank of India and the State Bank of India, focusing on deposit acceptance and lending. While both regions utilize digital banking services, the sources provided describe the U.S. market primarily through the lens of mobile app functionality and consumer-facing digital tools.