Bank of America Corp. reported a jump in fourth-quarter profit on Wednesday, benefiting from loan growth and a frenetic pace of global dealmaking activity that helped drive its investment banking business.

Profit rose to $6.77 billion, or 82 cents per share, for the quarter ended Dec. 31 from $5.21 billion, or 59 cents per share, a year earlier.

Analysts on average had expected a profit of 76 cents per share, according to the IBES estimate from Refinitiv.