KeyCorp saw net loan charge-offs rise during the fourth quarter, driven by real estate, healthcare and consumer goods. They rose to $76 million during the quarter, up from $74 million in the previous quarter and $41 million a year earlier, the bank said in a Thursday...
America’s regional banks are reportedly hoping to get healthier by getting smaller. As The Wall Street Journal (WSJ) reported Monday (Oct. 23), these lenders are scaling back following a quarter that saw banks like KeyCorp, Truist and Citizens Financial record double-digit declines in profit. For example, PNC is planning layoffs, while Citizens has said...
Regional banks are still facing a variety of pressures, but in terms of deposits they are doing better than they were three months ago. Second-quarter results released this week showed that many regional lenders’ deposits were stable or higher than they were in the first...
KeyCorp’s profits plunged 50% as the regional lender set aside more funds for credit losses. The bank released earnings Thursday (July 20), showing that its provisions for credit losses rose by 271% to $167 million, compared to $45 million for the same quarter last year. According to...
May 22, 2023
The age of banker’s hours may finally be ending. Drew Edwards, CEO of Ingo Money, and Jon Briggs, head of KeyBank’s commercial product and innovation in KeyCorp’s payments business, told Karen Webster in a panel discussion that there’s been a great divide between the experiences digital-only customers and businesses enjoy and the experiences treasury bank clients have enjoyed […]
August 12, 2024
Canadian bank Scotiabank plans to acquire a 14.9% stake in Cleveland-based KeyCorp, which operates about 1,000 KeyBank branches in 15 U.S. states and provides corporate and investment banking products. Pending regulatory approval, Scotiabank expects to close the initial investment of 4.9% in the fourth quarter of fiscal 2024 and an additional investment of 10% in […]
January 18, 2024
KeyCorp saw net loan charge-offs rise during the fourth quarter, driven by real estate, healthcare and consumer goods. They rose to $76 million during the quarter, up from $74 million in...
October 23, 2023
America’s regional banks are reportedly hoping to get healthier by getting smaller. As The Wall Street Journal (WSJ) reported Monday (Oct. 23), these lenders are scaling back following a quarter that saw...
July 21, 2023
Regional banks are still facing a variety of pressures, but in terms of deposits they are doing better than they were three months ago. Second-quarter results released this week showed...
