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 (NYSE: KEY) generates a steady flow of news as one of the nation’s larger bank-based financial services companies. Headquartered in Cleveland, Ohio, the company highlights a 200-year history that it marked with a bicentennial in 2025, and its announcements reflect both its consumer and commercial banking activities as well as its capital markets capabilities.
News related to KeyCorp often covers interest rate and funding actions, such as changes to the prime lending rate by KeyCorp and its banking affiliates or the redemption of senior bank notes issued by KeyBank National Association. These items provide insight into how the organization manages its balance sheet, funding costs, and lending benchmarks.
Investors and analysts can also expect earnings and financial performance updates, including quarterly net income, revenue composition, net interest margin, deposit trends, loan balances, and asset quality metrics. These releases typically discuss both net interest income and noninterest income components such as trust and investment services, investment banking and debt placement fees, cards and payments income, and service charges on deposit accounts.
Another frequent category of news involves corporate and investment banking activity under the KeyBanc Capital Markets name. Announcements may describe financing facilities, credit arrangements, or advisory roles for clients such as energy storage developers or other companies in selected industries, illustrating how KeyCorp participates in capital markets transactions for middle market clients.
KeyCorp also issues releases about dividend declarations on its common shares and various series of preferred stock, as well as communications around investor presentations at financial services conferences. For users following KEY news, this page offers a centralized view of these developments, helping track how the company’s banking operations, capital markets activities, and capital management decisions evolve over time.
On April 27, 2022, KeyBank (NYSE: KEY) introduced the Small Business Check-in, an interactive tool aimed at assisting small business owners in evaluating their financial health and goals. This launch is part of KeyBank's ongoing commitment to support local businesses, especially after the challenges posed by the pandemic. The tool allows users to assess their business priorities and schedule consultations with local bankers for personalized advice. KeyBank emphasizes the importance of digital banking tools, highlighted by their 2022 Financial Mobility Survey, which found that 78% of Americans prefer digital banking.
KeyBank (NYSE: KEY) announced significant changes to its fee structure aimed at enhancing customer financial management. Starting in late 2022, the bank will eliminate non-sufficient fund fees and reduce overdraft fees to $20 per occurrence. Additionally, a $20 threshold will prevent overdraft charges for negative balances below this limit, and an overdraft fee cap of three per day will be instituted. KeyBank continues to support clients with offerings like the Hassle-Free Account, which has no overdraft fees, and plans to introduce new liquidity options such as early wage access.
KeyCorp (NYSE: KEY) reported a net income of $420 million or $0.45 per diluted common share for Q1 2022, down from $601 million or $0.64 per share in Q4 2021. Loan growth was strong, with average loans up 4% quarter-over-quarter, driven by consumer mortgages and a record $820 million in loan originations from Laurel Road. However, noninterest income fell 25.6% due to adverse market conditions. Credit quality remained robust, with net charge-offs at 0.13% of average loans. KeyCorp emphasizes resilience and continued growth amidst market uncertainties.
Summary not available.
KeyCorp has announced an increase in its prime lending rate from 3.25 percent to 3.50 percent, effective March 17, 2022. This modification reflects the bank's strategic adjustments within the current economic landscape. As of December 31, 2021, KeyCorp had assets totaling approximately $186.3 billion. Under the KeyBank National Association brand, it operates a network of about 1,000 branches and 1,300 ATMs across 15 states, offering various financial services to both individuals and businesses.
D.A. Davidson & Co. has acted as the exclusive advisor for EarnUp's oversubscribed Series C funding round, which attracted strategic investments from LendingTree (NASDAQ:TREE) and KeyBank (NYSE:KEY), as well as from top institutional investors like Bain Capital Ventures. EarnUp, a San Francisco-based platform, automates loan payment scheduling, managing over $10 billion in payments. The funding aims to enhance enterprise products to benefit mortgage companies and borrowers, reflecting EarnUp's commitment to a fair financial system.
KeyBank has joined the RMA Credit Risk Navigator, powered by Automated Financial Systems (AFS), enhancing its risk management capabilities. This partnership allows KeyBank to access a database with nearly 850,000 loans, enabling detailed portfolio benchmarking and peer analytics. According to John Dravenstott, KeyBank's Portfolio Executive, the CRN database provides essential data to inform strategic portfolio decisions. The collaboration aims to strengthen KeyBank's credit risk profile management and improve performance tracking against industry standards.
Summary not available.
Key Family Wealth, part of Key Private Bank, has earned two prestigious accolades at the 2022 Private Asset Management (PAM) Awards. The firm was named the Best Multi-family Office in the $10 billion - $20 billion category, marking its second consecutive win. Additionally, it received the award for Best Fiduciary/Trustee Service, recognizing its excellence in fiduciary and trustee services. Key Family Wealth manages over $19.1 billion in assets under management (AUM) and prides itself on delivering exceptional client service and investment strategies for ultra-high-net-worth families.
Google Cloud, KeyBank, and Deloitte have announced a strategic partnership aimed at enhancing KeyBank's cloud-first banking approach. This partnership will see KeyBank migrate its primary platforms to Google Cloud, aiming for a transformation in client services and operational efficiency by 2025. KeyBank will utilize Google Cloud's AI and data solutions to offer personalized digital banking experiences, including the integration of Contact Center AI to improve client interactions. Deloitte will assist in this migration, unlocking significant business value and growth capabilities.