Welcome to our dedicated page for Keycorp news (Ticker: KEY), a resource for investors and traders seeking the latest updates and insights on Keycorp stock.
KeyCorp reports developments across its KeyBank banking franchise, KeyBanc Capital Markets, and wealth-management operations. Company news commonly covers deposit, lending, cash management, and investment services for individuals and businesses in its multi-state banking footprint, along with commercial banking coverage for middle-market companies.
Recurring updates include quarterly earnings, net interest income, fee-based businesses such as investment banking, commercial payments, and wealth management, and regional expansion of middle-market teams. News also covers Key Private Bank, customer financial surveys, community partnerships, and capital-markets services including M&A advice, public and private debt and equity, syndications, and derivatives.
KeyCorp (NYSE: KEY) announced that its CFO, Clark Khayat, and President of KeyBank Real Estate Capital, Daniel Heberle, will present at the Morgan Stanley US Financials, Payments, & CRE Conference on June 11, 2024, at 3:15 p.m. ET in New York City.
The presentation will cover KeyCorp's performance, strategy, and outlook. The live audio webcast will be available at www.key.com/ir, with replays accessible post-event.
With roots tracing back to Albany, NY, KeyCorp is one of the nation’s largest bank-based financial services companies, managing assets of approximately $187 billion as of March 31, 2024. KeyCorp operates in 15 states with around 1,000 branches and 1,200 ATMs, providing a wide range of financial services under KeyBank and KeyBanc Capital Markets.
KeyBank has announced the appointment of Marissa Brydle as their new Sustainability Director, effective June 4, 2024. Brydle will lead the development and execution of KeyBank's climate strategies and disclosures, aiming to drive the company's climate-related commitments. She will also serve as the primary contact for investors and other stakeholders. Brydle brings 15 years of sustainability strategy and disclosure experience, including her recent role at Cleveland-Cliffs, where she led the corporate sustainability team. Her expertise aligns with KeyBank's goal to transition to a low-carbon economy and enhance their corporate responsibility strategy.
KeyBank's Chief Corporate Responsibility Officer and CEO of KeyBank Foundation, Eric Fiala, expressed confidence in Brydle's ability to advance the bank's sustainability initiatives. Brydle holds bachelor's and master's degrees from John Carroll University and has extensive experience in corporate sustainability and external reporting activities.
On May 31, 2024, KeyBank Foundation announced a $450,000 investment to combat food insecurity in East Buffalo. The grant, revealed at the opening of the third season of the KeyBank Delavan-Grider Farmers Market, benefits two organizations: Buffalo Go Green and the Independent Health Foundation's 'Healthy Options at Home' program.
Buffalo Go Green received $300,000, supporting its Holistic Wellness & Agricultural Education Campus, Fruits & Vegetables Prescription Program, and nutrition education in their new commercial kitchen. The Independent Health Foundation received $150,000 for its comprehensive nutrition education program, providing meal kits and cooking tools to over 1,500 families since its inception amid the COVID-19 pandemic.
KeyBank has invested over $1 billion in Buffalo and Western New York since 2017, focusing on affordable housing, community development, small business, and home lending in low-to-moderate-income communities.
KeyBank's 2024 Small Business Survey reveals that fraud remains a significant concern for small business owners. The survey highlights that payment fraud (44%), identity theft (37%), malware and ransomware attacks (28%), and phishing and email scams (27%) are top threats. To combat these risks, KeyBank offers various resources and tools. In 2023, KeyBank lent $267.7 million to low-to-moderate income (LMI) communities and processed $11.2 billion in Paycheck Protection Program (PPP) loans in 2020-2021. KeyBank, a leading SBA lender, has provided over $4.5 billion in small business loans and lines of credit. The bank recently received its 11th consecutive 'Outstanding' rating from the OCC for their Community Reinvestment Act activities.
KeyBank has been recognized as one of the 50 most community-minded companies in America by Points of Light for the eleventh time. The Civic 50 survey, administered by True Impact, evaluates companies based on resource investment, business integration, policy institutionalization, and impact measurement. KeyBank is one of the few companies to consistently achieve high marks in the program's 12-year history. Additionally, KeyBank has been named this year's Financials Sector Leader, marking the seventh year for this accolade. The Civic 50 highlights companies dedicated to leveraging their resources for social impact.
KeyBank (NYSE:KEY) has been ranked 17th on Fair360's 2024 'Top 50 Companies for Diversity' list, an improvement from its 22nd position in 2023.
This is the 15th time KeyBank has appeared on the list. The company also ranked highly in several specialty lists, including #1 for People with Disabilities, #6 for Veterans, and #9 for LGBTQ+ Employees.
Chris Gorman, Chairman and CEO, highlighted the company's dedication to diversity, equity, and inclusion as key factors behind this recognition. KeyBank, headquartered in Cleveland, Ohio, operates in 15 states with assets of approximately $187 billion as of March 31, 2024.
KeyCorp (NYSE: KEY) announced that its Chairman and CEO, Chris Gorman, will present at the Bernstein Annual Strategic Decisions Conference on May 29, 2024, at 4:30 p.m. ET in New York City.
The presentation will cover KeyCorp's performance, strategy, and future outlook. A live audio webcast will be available on KeyCorp's investor relations website. Replays will also be accessible.
KeyCorp, headquartered in Cleveland, Ohio, is one of the largest bank-based financial services companies in the U.S., with assets of approximately $187 billion as of March 31, 2024. It offers a range of financial services through its KeyBank National Association and KeyBanc Capital Markets.
KeyBank Foundation has announced a $300,000 investment to support the Greater Rochester Habitat for Humanity (GRHFH) in expanding its Habitat Homebuyer Program. This initiative aims to make homeownership more accessible and sustainable by doubling GRHFH's impact, providing financial literacy training, and partnering with for-profit builders and designers. The funds are expected to benefit an additional 50 families over the next two years, impacting approximately 150 individuals. Since 2017, KeyBank has invested over $727 million in the Rochester market to support affordable housing and community development.
Small business owners are looking to banks for strategic advice amid economic uncertainty. KeyBank's 2024 Small Business Survey reveals that top recommendations include reducing discretionary spending (34%), creating an emergency fund (22%), and diversifying revenue streams (20%). With 52% of owners confident that banks understand their cash flow concerns, KeyBank stands out by offering over $4.5 billion in small business loans and lines of credit. The bank also received its 11th consecutive 'Outstanding' rating from the OCC for its Community Reinvestment Act efforts. In 2023, KeyBank lent $267.7 million to low-to-moderate-income communities and processed $11.2 billion in Paycheck Protection Program loans over 2020-2021.
KeyBank has released its 2023 Corporate Responsibility Report, detailing its impact on community and sustainability efforts. Key highlights include serving over 540 clients with special purpose credit programs, providing $1.8 million in homebuyer grants, and $8.8 million in home equity loans. The bank launched Immediate FundsSM for instant check deposit access and revamped its fee structure for client convenience. Employees volunteered over 77,000 hours, and the bank promoted 22.8% of its workforce. KeyBank delivered $5.5 billion in capital for affordable housing and community support, invested $39.8 million philanthropically, and exceeded supplier diversity goals with a 13% spend on diverse suppliers. Environmentally, the bank allocated nearly $5 billion for a low-carbon economy, achieved a 40% reduction in Scope 1 and 2 emissions, and joined the Partnership for Carbon Accounting Financials.