Annual report [Section 13 and 15(d), not S-K Item 405]

Net Interest Income and Noninterest Income (Tables)

v3.25.0.1
Net Interest Income and Noninterest Income (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The table below presents the Corporation’s net interest income and noninterest income disaggregated by revenue source for 2024, 2023 and 2022. For more information, see Note 1 – Summary of Significant Accounting Principles. For a disaggregation of noninterest income by business segment and All Other, see Note 23 – Business Segment Information.
(Dollars in millions) 2024 2023 2022
Net interest income
Interest income
Loans and leases $ 61,993  $ 57,124  $ 37,919 
Debt securities 26,007  20,226  17,127 
Federal funds sold and securities borrowed or purchased under agreements to resell 19,911  18,679  4,560 
Trading account assets 10,376  8,773  5,521 
Other interest income (1)
28,320  25,460  7,438 
Total interest income 146,607  130,262  72,565 
Interest expense
Deposits 38,442  26,163  4,718 
Short-term borrowings 34,538  30,553  6,978 
Trading account liabilities 2,191  2,043  1,538 
Long-term debt 15,376  14,572  6,869 
Total interest expense 90,547  73,331  20,103 
Net interest income $ 56,060  $ 56,931  $ 52,462 
Noninterest income
Fees and commissions
Card income
Interchange fees (2)
$ 4,013  $ 3,983  $ 4,096 
Other card income 2,271  2,071  1,987 
Total card income 6,284  6,054  6,083 
Service charges
Deposit-related fees 4,708  4,382  5,190 
Lending-related fees 1,347  1,302  1,215 
Total service charges 6,055  5,684  6,405 
Investment and brokerage services
Asset management fees 13,875  12,002  12,152 
Brokerage fees 3,891  3,561  3,749 
Total investment and brokerage services 17,766  15,563  15,901 
Investment banking fees
Underwriting income 3,275  2,235  1,970 
Syndication fees 1,221  898  1,070 
Financial advisory services 1,690  1,575  1,783 
Total investment banking fees 6,186  4,708  4,823 
Total fees and commissions 36,291  32,009  33,212 
Market making and similar activities 12,967  12,732  12,075 
Other income (loss) (3,431) (3,091) (2,799)
Total noninterest income $ 45,827  $ 41,650  $ 42,488 
(1)Includes interest income on interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks of $16.8 billion, $16.0 billion, and $2.6 billion for 2024, 2023, and 2022.
(2)Gross interchange fees and merchant income were $13.6 billion, $13.3 billion and $12.9 billion for 2024, 2023 and 2022, respectively, and are presented net of $9.5 billion, $9.3 billion and $8.8 billion of expenses for rewards and partner payments as well as certain other card costs for the same periods.