Bank of America Q3 Investment Banking Fees Fall
Bank of America Q3 investment banking fees guidance at Barclays conference narrows capital-markets revenue outlook and tightens nearterm trader positioning.
KEY TAKEAWAYS
- CEO guided Q3 investment banking fees to $1.6-$1.8 billion, down from about $2.0 billion year earlier.
- He cited Dealogic showing the investment-banking market down about 10%, making BofA's decline likely larger.
- Sales and trading revenue was guided 'relatively flat' versus $5.4 billion, keeping markets revenue resilient.
HIGH POTENTIAL TRADES SENT DIRECTLY TO YOUR INBOX
Add your email to receive our free daily newsletter. No spam, unsubscribe anytime.
Bank of America Corporation (BAC) addressed its Q3 2026 investment banking fees at the Barclays Global Financial Services Conference on Sept. 14, 2026, when CEO Brian Moynihan warned that fees would decline year over year, signaling softer capital-markets revenue.
Barclays Conference Guidance and Market Outlook
Moynihan guided Q3 investment banking fees to a range of $1.6 billion to $1.8 billion, down at least 10% from about $2.0 billion in the same quarter last year. He attributed the decline to industry-wide weakness, citing Dealogic data showing the investment banking market off roughly 10%. Moynihan noted that Bank of America is less exposed to business lines where activity remains stronger, which could cause its decline to exceed the market’s.
He also forecast sales and trading revenue to be relatively flat compared with the $5.4 billion reported in Q3 2025, describing that level as still among the bank’s better third quarters.
Q2 Performance and Strategic Implications
The guidance contrasts with a strong second quarter, when Bank of America posted a 50% year-over-year increase in investment banking fees and a 33% rise in trading revenue. The verbal remarks at the Barclays conference, reported through media and third-party transcripts rather than an SEC filing or press release, tighten near-term expectations for the bank’s capital-markets revenue.
This guidance narrows the bank’s Q3 revenue outlook after a robust second quarter and suggests capital-markets trends may soften for Bank of America in the current quarter.
