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.
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KeyCorp (NYSE: KEY) announced its schedule for upcoming quarterly conference calls to review financial results in 2022. The calls are set for:
- Fourth Quarter 2021: January 20 at 8:00am ET
- First Quarter 2022: April 21 at 8:00am ET
- Second Quarter 2022: July 21 at 8:00am ET
- Third Quarter 2022: October 20 at 8:00am ET
The financial results will be released prior to market openings on designated dates. Access to live webcasts and other materials will be available on KeyCorp's investor relations website.
KeyBank has enhanced its client experience through a significant investment in nCino's technology. The nCino Bank Operating System® will now support KeyBank's small business banking, improving transparency and client engagement. As part of this expansion, KeyBank aims to offer a comprehensive view of clients' financial health, especially in light of ongoing economic challenges from the Covid-19 pandemic. A recent survey indicated that 42% of business owners prioritize financial planning as they prepare for potential economic shifts.
KeyCorp (NYSE: KEY) will present at the Goldman Sachs U.S. Financial Services Conference on December 7, 2021, at 10:40 a.m. ET. CEO Chris Gorman and CFO Don Kimble will discuss the company's performance, strategy, and outlook. The event will be available via live webcast and can be accessed later for a re-broadcast. With assets totaling approximately $187.0 billion as of September 30, 2021, KeyCorp operates over 1,000 branches and offers a range of financial services across 15 states.
KeyBank National Association has acquired XUP Payments, a digital platform focused on B2B payments. This acquisition aims to enhance client onboarding and service experiences, building on a successful prior partnership. By integrating XUP's technology, KeyBank seeks to advance its embedded banking strategy and improve its commercial product offerings. The acquisition follows several fintech partnerships and enhances KeyBank's status as a leader in financial innovation, aiming to provide best-in-class payment experiences.
KeyCorp (NYSE: KEY) will announce its fourth quarter 2021 earnings on January 20, 2022, before market opening. A conference call at 8:00 a.m. ET will discuss financial results, strategy, and outlook. KeyCorp, headquartered in Cleveland, Ohio, holds approximately $187.0 billion in assets as of September 30, 2021. The company serves individuals and businesses across 15 states through its network of 1,000 branches and around 1,300 ATMs.
KeyCorp (NYSE: KEY) will present at the BancAnalysts Association of Boston Conference on November 4, 2021, at 9:40 a.m. ET in Boston, Massachusetts. KeyCorp's executive team, including Victor Alexander, Jamie Warder, and Don Kimble, will discuss the company's performance, strategy, and future outlook. Investors can access the live audio webcast and presentation materials at www.key.com/ir. KeyCorp has nearly 200 years of history and approximately $187.0 billion in assets as of September 30, 2021.
KeyCorp (KEY) reported a net income of $616 million in Q3 2021, or $.65 per diluted share, reflecting a 11.7% decline from Q2 2021 but a 55.2% increase from Q3 2020. Revenue rose to $1.822 billion, up 8% year-over-year, driven by strong performances in consumer loans and investment banking. Key's credit quality remained robust, with nonperforming loans decreasing to $554 million. The bank initiated an accelerated share repurchase program, supported by capital relief from the sale of its indirect auto loan portfolio. The Common Equity Tier 1 ratio stood at 9.6%.
KeyBank reported a substantial increase in its SBA lending during FY 2021, extending 947 loans totaling $434 million, more than doubling its unit approvals from 2020. This achievement secured KeyBank a top 10 ranking among over 1,700 lenders and marked a record-breaking year for the bank. Additionally, through the Paycheck Protection Program, KeyBank processed around 70,000 loans amounting to $11 billion. KeyBank continues to rank among the top SBA lenders nationally, having provided over $2 billion in financing since 2015.
Laurel Road, a digital banking platform of KeyBank, announced the launch of its new checking account and mobile application aimed at healthcare and business professionals. The account offers features like a $500 cash bonus for direct deposits and discounts on student loan refinancing. A survey revealed that 45% of Gen-Z and millennials are interested in switching banks for better savings options. With no minimum deposit and a wide ATM network, the new offerings cater to the financial needs of busy professionals while promoting financial growth.