bank of america corp on monday said the us consumer remains resilient and strong although growth is slowing as the bank topped wall street’s earnings revenue and net interest income expectations for the third quarter bank of america bac shares rose 28 in premarket trades monday after the megabank said its thirdquarter net income fell to 658 billion or 81 cents a share from 726 billion or 85 cents a share in the yearago quarter revenue increased 8 to 245 billion net interest income which reflects profits the bank makes on loans increased to 138 billion from 111 billion in the yearago quarter and ahead of secondquarter net interest income of 124 billion as the bank benefited from higher interest rates bank of america was expected to earn 78 cents a share on revenue of 2354 billion according to estimates compiled by factset analysts projected net interest income of 1353 billion “our us consumer clients remained resilient with strong although slower growing spending levels and still maintained elevated deposit amounts” ceo brian moynihan said average loan balances rose 12 to 1 trillion led by “strong” commercial loan growth as well as higher credit card balances the bank reported a net reserve build of 378 million which gets subtracted from net income compared to the yearago period when the bank released 11 billion in reserves to its bottom line in a sign of some potential cracks in the financial health of customers the bank’s net chargeoffs which is money it does not expect to collect from outstanding loans increased 12 to 520 million the bank’s customers also stepped up spending on their credit cards with combined credit and debt card spending increasing by 9 to 218 billion client balances in the bank’s global wealth and investment management unit fell 12 to 32 trillion as rocky financial markets took their toll as expected investment banking revenue fell sharply amid a drop in dealmaking compared to the gogo year of 2021 total investment banking fees decreased by 46 to 12 billion however market volatility stoked the bank’s markets unit which booked a 13 increase in trading revenue to 41 billion within that fixed income trading revenue rose 27 to 26 billion while equities trading dropped 4 to 15 billion shares of bank of america are down 288 in 2022 compared to a 248 drop by the sp 500 spx and a loss of 206 by the financial select spdr fund xlf  bank of america’s earnings come after jpmorgan chase  co jpm  citigroup inc c  morgan stanley ms and wells fargo  co wfc all reported lower earnings on friday goldman sachs group inc gs is due to report thirdquarter earnings on tuesday also read wells fargo head count drops while ranks grow at jpm citi and morgan stanley