KEYCORP /NEW/
For the period ended Sep 30, 2025. Filed Nov 4, 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.
Sep 30, 2025 · Filed Nov 4, 2025
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Commercial Bank
Summary of operations
Net income attributable to Key of $367 million for the third quarter of 2025, compared to $299 million for the year-ago quarter
Taxable-equivalent net interest income attributable to the Commercial Bank increased by $127 million or 27.6%, compared to the third quarter of 2024
Average loan and lease balances increased $2.9 billion, or 4.3%, compared to the third quarter of 2024, driven by an increase in commercial and industrial loans
Average deposit balances decreased $213 million, or 0.4%, compared to the third quarter of 2024, driven by a reduction in higher-cost client balances
Provision for credit losses increased $27 million compared to the third quarter of 2024, driven by stable reserve levels relative to the third quarter of 2024, partly offset by lower net loan charge-offs
Noninterest income increased $21 million, or 5.2%, from the third quarter of 2024, primarily driven by an increase in investment banking and debt placement fees and corporate services income
Noninterest expense increased $38 million, or 8.6%, compared to the third quarter of 2024, primarily driven by higher support and overhead expense, as well as higher personnel expense related to incentive compensation associated with noninterest income growth, and continued investments in people
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