Oct 14 (Reuters) - Bank of America Corp (BAC.N) beat estimates for third-quarter profit on Thursday, boosted by strong growth across its businesses which executives said they expected to continue next quarter.

Bank of America's NII hit a low in the third quarter last year, but executives said they were optimistic it would continue to rise this year and next.

Average loans and leases, excluding those from the government-backed Paycheck Protection Program (PPP), grew by 2.3% in the third quarter from the prior quarter, although that figure fell 4.3% from last year.

Still, nearly every loan product grew some in the quarter, and the bank issued around 1 million more credit cards, further fueling that growth.

Net income applicable to common shareholders rose to $7.26 billion, or 85 cents per share, for the quarter ended Sept.