Bank of America
Q2 2023 Earnings Call
Jul 18, 2023, 8:30 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good day, everyone, and welcome to the Bank of America earnings announcement. It is now my pleasure to turn the program over to Lee McEntire. Please go ahead, sir.
Lee McEntire
Thank you, Catherine. Good morning. Welcome, and thank you for joining the call to review our second-quarter results. I trust everyone has had a chance to review our earnings release documents.
They're available on the Investor Relations section of the bankofamerica.com website and include the earnings presentation that we'll be returning -- referring to during the call. I'm going to first turn the call over to our CEO, Brian Moynihan, for some opening comments before Alastair Borthwick, our CFO, discusses the details of the quarter. Before I do that, let me remind you that we may make forward-looking statements and refer to non-GAAP financial measures during the call. The forward-looking statements are based on management's current expectations and assumptions that are subject to risks and uncertainties.
Factors that may cause the actual results to materially differ from expectations are detailed in our earnings materials and SEC filings that are available on the website. Information about our non-GAAP financial measures, including reconciliations to U.S. GAAP, can also be found in our earnings materials that are available on the website. So, with that, it's my pleasure to turn the call over to you, Brian.
Brian Moynihan -- Chief Executive Officer
Thanks, Lee, and good morning to all of you, and thank you for joining us. I'm starting on Slide 2 of the earnings presentation. This morning, Bank of America reported one of the best quarters and one of the best first half of net income in the company's history. Our results this quarter once again include solid performance on things we control by delivering organic growth and operating leverage.
We did that in an economy that remains healthy that had a slowing rate of growth. It was also a quarter that included volatility from the debate about the debt ceiling, continuation of central bank monetary tightening action, and a slowing in consumer spending and slowing inflation. As you look at it now, our customer spending patterns are now more consistent with the pre-pandemic lower growth, lower inflation economy. Before Alastair takes to details, let me summarize Bank of America's Quarter 2 performance.