KEYCORP /NEW/
For the period ended Dec 31, 2025. Filed Feb 23, 2026.
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FY2025 · Filed Feb 23, 2026
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Consumer Bank
Segment imperatives
Execute a relationship-oriented growth strategy, which will enable us to grow (i) stable, low-cost deposits and (ii) valuable fee income streams, including wealth management and cards and payments
Simplify our business to improve execution and efficiency while managing risk
Meet the needs of our clients and communities in markets where we operate
Market and business overview
As the banking industry moves forward, so do our clients. Anticipating our clients’ needs not only today, but also for tomorrow and into the future, has become one of the biggest challenges for the banking industry. We view these challenges as an opportunity to help our current client base meet their own goals, as well as attract new and diverse clients. Key Consumer Bank’s focus on durable, long-term client relationships centered in core checking has been evident through the execution of our strategic priorities through focus areas such as developing a core Consumer relationship product suite and driving long-term deposits and fee income through new and enhanced products and services. Key continues to adapt to an increasingly digital world with an increased focus on client experience across our online banking channels. The advice our bankers provide, in combination with our products, services and digital platforms, place Key in a strong position to develop long-lasting and meaningful relationships with our current and prospective clients. Our goal is to help our clients move forward on their financial journeys and to be by their sides along the way.
Figure 7. Consumer Bank Summary of Operations
| Year ended December 31, | Change 2025 vs. | ||||
|---|---|---|---|---|---|
| Dollars in millions | 2025 | 2024 | 2023 | 2024 | 2023 |
| Summary of operations | |||||
| Net interest income (TE) | $2,709 | $2,246 | $2,221 | 20.6% | 22.0% |
| Noninterest income | 957 | 924 | 937 | 3.6 | 2.1 |
| Total revenue (TE) | 3,666 | 3,170 | 3,158 | 15.6 | 16.1 |
| Provision for credit losses | 169 | 126 | 111 | 34.1 | 52.3 |
| Noninterest expense | 2,802 | 2,714 | 2,779 | 3.2 | .8 |
| Income (loss) before income taxes (TE) | 695 | 330 | 268 | 110.6 | 159.3 |
| Allocated income taxes (benefit) and TE adjustments | 168 | 79 | 64 | 112.7 | 162.5 |
| Net income (loss) attributable to Key | $527 | $251 | $204 | 110.0% | 158.3% |
| Average loans and leases | |||||
| Real estate — residential mortgage | $19,285 | $20,369 | $21,348 | (5.3)% | (9.7)% |
| Home equity loans | 5,973 | 6,696 | 7,502 | (10.8) | (20.4) |
| Other consumer loans | 4,890 | 5,501 | 6,223 | (11.1) | (21.4) |
| Credit cards | 925 | 934 | 986 | (1.0) | (6.2) |
| Commercial loans | 4,671 | 5,244 | 5,717 | (10.9) | (18.3) |
| Total loans and leases | $35,744 | $38,744 | $41,777 | (7.7)% | (14.4)% |
| Average deposits | |||||
| Money market deposits | $34,688 | $30,723 | $28,356 | 12.9% | 22.3% |
| Demand deposits | 22,759 | 22,315 | 23,142 | 2.0 | (1.7) |
| Savings deposits | 4,316 | 4,679 | 6,051 | (7.8) | (28.7) |
| Time deposits | 11,840 | 13,190 | 7,463 | (10.2) | 58.6 |
| Noninterest-bearing deposits | 14,328 | 14,945 | 17,780 | (4.1) | (19.4) |
| Total deposits | $87,932 | $85,851 | $82,793 | 2.4% | 6.2% |
| Credit-related statistics | |||||
| Nonperforming assets at period end | $201 | $201 | $190 | ||
| Net loan charge-offs | 190 | 207 | 133 | ||
| Net loan charge-offs to average total loans | 0.53% | 0.53% | 0.32% | ||
Net income attributable to Key of $527 million in 2025, compared to $251 million in 2024, an increase of 110.0%, largely driven by favorable rates on deposits
Taxable-equivalent net interest income increased in 2025 by $463 million, or 20.6%, from the prior year, due to favorable rates on deposits
Average loans and leases decreased in 2025 by $3.0 billion, or 7.7%, from the prior year, driven by broad-based declines across all loan categories
Average deposits increased in 2025 by $2.1 billion, or 2.4%, from the prior year, driven by growth in money market deposits
Provision for credit losses increased $43 million in 2025 compared to the prior year, driven by increased economic uncertainty slightly offset by loan balance run-off.
Noninterest income increased in 2025 by $33 million, or 3.6%, driven by increases in trust and investment services income
Noninterest expense increased in 2025 by $88 million, or 3.2%, primarily reflective of increased personnel expenses, slightly offset by lower FDIC special assessment charges
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