From Investing.com: 2025-01-17 20:05:34

Bank of America plans to award stock to most employees for the eighth time since 2017. The stock awards will be granted in addition to year-end incentives and cover about 97% of the global workforce. The awards are estimated to be over $1 billion, given to employees earning up to $500,000 annually.

BofA’s fourth-quarter profit exceeded expectations, driven by trading activity. The bank’s full-year revenue surpassed $100 billion in 2024, with a profit of $27.1 billion. CEO Brian Moynihan expressed optimism for 2025, citing growth in deposits, loans, and revenue across all sectors.

Wall Street CEOs are confident in a business-friendly environment under the new U.S. administration. Global deal volumes are expected to exceed $4 trillion in 2025, the highest level in four years. The banking industry has benefited from strong equity markets and expectations of deregulation and lower taxes.

Bank of America’s stock rose 30.5% in 2024, outperforming the market. Stock awards are used to reward employees, retain talent, and align interests with long-term company success. Investment bankers at BofA may see a 10% increase in their bonus pool for the previous year.



Read more at Investing.com: Bank of America awards stock to employees after strong 2024 performance, memo shows By Reuters