BAC Records 9% Y/Y Growth in NII in 1H26: Will the Uptrend Continue?

Bank of America reported strong net interest income (NII) growth of 9% year-over-year in the first half of 2026, reaching $31.7 billion with Q2 hitting a record $16 billion. The growth was driven by solid loan and deposit expansion, favorable asset repricing, and improved net interest yield. Management expects 2026 NII growth near the upper end of its 6-8% guidance. BAC shares have outperformed the industry with a 25.1% gain over six months, though the stock trades below industry valuation multiples at 2.20X price-to-tangible book.