# Bank of America wealth revenue hits $6.3 billion in Q3 2025

**Published:** 2026-07-09T16:45:04.135Z  
**Topic:** Banking  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/ffdd8883-87f9-4e20-b148-1d4c1738e141

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) |

## Record revenue and loan growth  

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].

## Asset inflows and client expansion  

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].

## Cost pressure and profitability  

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].

## What to watch  
- **Q4 2025 wealth earnings** – guidance on loan growth and expense trends will signal whether the revenue surge can be sustained.  
- **Federal Reserve policy** – any shift in rates could affect demand for client loans and the profitability of cross‑selling.  
- **Merrill banking adoption target** – progress toward the 60% account‑ownership goal will be a key metric for the wealth business’s stickiness.

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.

## Sources
1. Insider — [Bank of America Review](https://www.businessinsider.com/personal-finance/banking/bank-of-america-review)
2. Financial Planning — [Merrill, BofA Private Bank ride lending, alts to revenue record](https://www.financial-planning.com/news/merrill-bofa-private-bank-lean-on-lending-for-revenue-high)

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Cite as: TrendWatcher, "Bank of America wealth revenue hits $6.3 billion in Q3 2025", https://www.trendwatcher.in/article/ffdd8883-87f9-4e20-b148-1d4c1738e141