KEYCORP /NEW/
For the period ended Mar 31, 2025. Filed May 6, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 6, 2025
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Business outlook
Consistent with the forward guidance we provided on April 17, 2025, we expect these current year results, that is full year 2025 vs. full year 2024:
| Category | 2024 Baseline | FY2025 (vs FY 2024)(a) |
|---|---|---|
| Average loans | $107.7 Billion | down 2% to 5% |
| Ending loans | $104.3 Billion | Flat vs YE 2024 |
| PE Commercial Loans | $71.9 Billion | up 2% to 4% |
| Net interest income (TE) | $3,810 Million | up ~20%(b) |
| Adjusted noninterest income(c) | $2,645 Million | up 5%+ |
| Adjusted noninterest expense(c) | $4,520 Million | up 3% to 5% |
| Net charge-offs to average loans | 41 bps | 40 to 45 basis points (FY2025) |
| Effective tax rate | ~21% to 22% (FY2025) | |
| Tax-equivalent Effective Rate(d) | ~23% to 24% (FY2025) |
(a) Ranges are shown on an operating basis.
(b) Additional Guidance: Net interest income (TE): 10%+ 4Q25 vs. 4Q24.
(c) Refer to the GAAP to Non-GAAP Reconciliation within Management's Discussion and Analysis of this Form 10-Q for the reconciliation of these non-GAAP measures.
(d) Reflects the estimated full year taxable-equivalent adjustment.
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