Net Interest Income and Noninterest Income (Tables)

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

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.