Quarterly report [Sections 13 or 15(d)]

Net Interest Income and Noninterest Income

v3.25.2
Net Interest Income and Noninterest Income
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Net Interest Income and Noninterest Income Net Interest Income and Noninterest Income
The table below presents the Corporation’s net interest income and noninterest income disaggregated by revenue source for the three and six months ended June 30, 2025 and 2024. For more information, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation’s 2024 Annual Report on Form 10-K. For a disaggregation of noninterest income by business segment and All Other, see Note 17 – Business Segment Information.
Three Months Ended June 30 Six Months Ended June 30
(Dollars in millions) 2025 2024 2025 2024
Net interest income
Interest income
Loans and leases $ 15,651  $ 15,338  $ 30,874  $ 30,578 
Debt securities 6,913  6,325  13,680  12,462 
Federal funds sold and securities borrowed or purchased under agreements to resell 4,094  5,159  7,868  10,334 
Trading account assets 3,057  2,516  6,065  4,971 
Other interest income (1)
5,158  7,516  10,452  14,794 
Total interest income 34,873  36,854  68,939  73,139 
Interest expense
Deposits 8,681  9,655  17,313  18,793 
Short-term borrowings 7,435  9,070  14,398  17,605 
Trading account liabilities 676  540  1,383  1,086 
Long-term debt 3,411  3,887  6,732  7,921 
Total interest expense 20,203  23,152  39,826  45,405 
Net interest income $ 14,670  $ 13,702  $ 29,113  $ 27,734 
Noninterest income
Fees and commissions
Card income
Interchange fees (2)
$ 1,036  $ 1,023  $ 1,952  $ 1,954 
Other card income 610  558  1,212  1,090 
Total card income 1,646  1,581  3,164  3,044 
Service charges
Deposit-related fees 1,265  1,172  2,493  2,294 
Lending-related fees 350  335  683  655 
Total service charges 1,615  1,507  3,176  2,949 
Investment and brokerage services
Asset management fees 3,698  3,370  7,436  6,640 
Brokerage fees 1,082  950  2,157  1,867 
Total investment and brokerage services 4,780  4,320  9,593  8,507 
Investment banking fees
Underwriting income 806  869  1,576  1,770 
Syndication fees 289  318  658  612 
Financial advisory services 333  374  717  747 
Total investment banking fees 1,428  1,561  2,951  3,129 
Total fees and commissions 9,469  8,969  18,884  17,629 
Market making and similar activities 3,153  3,298  6,737  7,186 
Other income (loss) (829) (592) (905) (1,354)
Total noninterest income $ 11,793  $ 11,675  $ 24,716  $ 23,461 
(1)Includes interest income on interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks of $2.8 billion and $4.5 billion for the three months ended June 30, 2025 and 2024, and $5.7 billion and $9.0 billion for the six months ended June 30, 2025 and 2024.
(2)Gross interchange fees and merchant income were $3.5 billion for both the three months ended June 30, 2025 and 2024, and are presented net of $2.4 billion of expenses for rewards and partner payments as well as certain other card costs for both periods. Gross interchange fees and merchant income were $6.8 billion and $6.7 billion for the six months ended June 30, 2025 and 2024 and are presented net of $4.8 billion and $4.7 billion of expenses for rewards and partner payments as well as certain other card costs for the same periods.