KEYCORP /NEW/
For the period ended Jun 30, 2025. Filed Aug 5, 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.
Jun 30, 2025 · Filed Aug 5, 2025
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Commercial Bank
Summary of operations
Net income attributable to Key of $349 million for the second quarter of 2025, compared to $206 million for the year-ago quarter
Taxable-equivalent net interest income increased by $145 million, compared to the second quarter of 2024
Average loan and lease balances decreased $161 million, or 0.2%, compared to the second quarter of 2024, driven by a decline in commercial real estate loans and commercial lease financing
Average deposit balances decreased $1.5 billion, or 2.6%, compared to the second quarter of 2024, driven by a reduction in higher-cost client balances
Provision for credit losses decreased $3 million compared to the second quarter of 2024, driven by a lower reserve build as changes in the portfolio mix offset economic deterioration, as well as lower net loan charge-offs
Noninterest income increased $61 million, or 17.1%, from the second quarter of 2024, primarily driven by an increase in investment banking and debt placement fees and commercial mortgage servicing fees
Noninterest expense increased $18 million, or 4.2%, compared to the second quarter of 2024, driven by higher support and overhead expense
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