KeyCorp (Key) reported a strong first quarter in 2025, with the net income reaching $370 million, or $.33 per diluted share. This solid performance beat Wall Street's estimates. The company also saw a rise in both net interest income and fee income year over year. The bank's commercial payments business also grew, despite economic uncertainty. Despite the high provisions, Keycorp's quarterly earnings were also boosted by capitalized profits, defying market headwinds. The beat on higher net interest income although credit loss provisions jumped. The company announced a $1 billion share buyback following a dip in stock value. However, KeyCorp's 2025 loan growth guidance disappointed some investors despite NII growth. In a strategic shift, KeyCorp closed a deal with Scotiabank to support NII expansion this year. At the same time, the company's CEO saw a substantial increase in total remuneration following the bonus from Scotiabank. KeyCorp also announced the appointment of Mohit Ramani as the Chief Risk Officer. The company received a strategic minority investment from Scotiabank and completed a strategic minority investment, indicating a robust financial position despite the Q4 2024 net loss.
Keycorp KEY News Analytics from Thu, 18 Jul 2024 07:00:00 GMT to Sat, 19 Apr 2025 12:00:00 GMT -
Rating 8
- Innovation 5
- Information 8
- Rumor -6
