Bank of America's investment banking revenue for the third quarter is expected to fall below Wall Street expectations, according to AdvisorHub. CEO Brian Moynihan stated that the bank's investment banking revenue is projected to reach $1.2 billion, flat compared to the same period last year. Analysts had anticipated a figure closer to $1.5 billion, representing a 16.5 percent increase.

Meanwhile, Bank of America's sales and trading business is expected to grow by low single digits. Moynihan attributed this modest growth to investments in fixed-income capabilities and efforts to rebuild the equities business. However, the bank's trading performance is anticipated to remain flat compared to the previous quarter.

Moynihan also noted that middle-market investment banking is expanding and now accounts for about a third of the bank's overall investment banking revenue. Loan demand remains steady, with balances increasing by about 0.75 percent, although high interest rates have caused some businesses to borrow less. AdvisorHub also reported that deposits have remained stable.

In contrast, AdvisorHub states that Bank of America's competitors have experienced mixed results. Goldman Sachs expects a 10 percent decline in its trading unit, driven by lower fixed-income performance. JPMorgan Chase anticipates a 2 percent rise in trading revenue, with investment banking fees projected to increase by 15 percent. Citigroup, meanwhile, has reported increased net credit losses in its cards business as U.S. consumers shift their spending toward basic needs.

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