Bank of America posted net income of USD 6.93 billion in the third quarter of 2026, down about 17% from the same period last year, hit by a USD 1.2 billion regulatory settlement charge as well as weaker performance in its capital markets business. Earnings per share were 91 cents, compared with USD 1.04 in the same quarter of 2025.

Excluding the settlement, the bank's adjusted earnings came to about USD 8.1 billion, or USD 1.08 per share, after the fine cut earnings per share by about 17 cents. Even so, adjusted earnings per share remained below the analysts' average estimate of USD 1.10, according to data compiled by LSEG.

The results come after the Financial Crimes Enforcement Network (FinCEN), part of the US Treasury Department, fined the bank USD 1.2 billion over shortcomings in detecting and reporting suspicious financial activity and failing to address risks related to money laundering and illicit finance.

The fine includes a USD 750 million penalty imposed by the US Office of the Comptroller of the Currency, which counts towards the USD 1.2 billion total. The measures also included a separate USD 11.6 million settlement with the Office of Foreign Assets Control over apparent violations of US sanctions programs, bringing total penalties and settlements to more than USD 1.21 billion.