BofA's investment banking fees jumped 44% to $1.7 billion in the fourth quarter, compared with a year earlier. Across the industry, global investment banking revenue jumped 26% to $86.80 billion, led by a 33% surge in North America, according to data from Dealogic. BofA earned the third-highest revenue among banks globally.

Bank of America Corp. posted fourth-quarter profit that topped analysts’ estimates as investment-banking fees hit the highest in three years and net interest income outperformed forecasts.