Key Takeaways KeyCorp shares surged Monday morning after the bank announced a $2.8 billion investment from the Bank of Nova Scotia. Scotiabank will acquire about 163 million shares by the first quarter of 2025 after the companies receive regulatory approval. Cleveland-based KeyCorp called the investment a "unique opportunity to raise capital on attractive terms." Shares of KeyCorp (KEY) jumped Monday morning after announcing that the Bank of Nova Scotia (BNS) acquired a 14.9% stake in the bank, valued at ro ...

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 fiscal 2025, the bank said in a Monday (Aug. 12) press release. The total cash consideration amounts to $2.8 billion. "We believe that this transa ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The ...

Opportunistic capital raise on attractive terms Accelerates capital and earnings improvement; capital raise estimated to result in pro forma CET1 of 12.4% Further strengthens Key's capacity for growth CLEVELAND, Aug. 12, 2024 /PRNewswire/ -- KeyCorp (NYSE: KEY) today announced it has reached an agreement under which The Bank of Nova Scotia ("Scotiabank") (TSX: BNS) (NYSE: BNS) will make a strategic minority investment in KeyCorp of approximately $2.8 billion, representing approximately 14.9% pro forma commo ...

TORONTO, Aug. 12, 2024 /PRNewswire/ - Scotiabank announced today that it has entered into an agreement to acquire an approximate 14.9% pro-forma ownership stake in KeyCorp through an issuance of common shares at a price of $17.17 per share, representing an 11% premium to the volume weighted average price for the last 20 trading days. The total cash consideration is approximately US$2.8 billion (the "Investment"). KeyCorp is a premier U.S. based financial services company operating across 15 states, with US$ ...

Achievement celebrates hard work done by clients to build their credit history and grow their financial future Key Tower in Cleveland, OhioKey Tower in Cleveland, Ohio Through the Secured Credit Card program, the Spring 2024 graduates have made major steps to improve their financial wellbeing, such as: For those who entered the program with no FICO score, the average score they show at graduation is 721. Throughout the program's history, those who begin with a FICO score at origination have shown an average ...

Table of contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-11302 KeyCorp Exact name of registrant as specified in its charter: Ohio 34-6542451 127 Public Square, Cleveland, Ohio 4411 ...

JHVEPhoto 1D Seeking Alpha Still, net interest income is the most critical driver of the bank's results. Net interest income of $899 million was up 1.5% sequentially and down 8.8% from last year. As I wrote in March, I believed Key was at a turning point in NII with momentum set to gather later this year and through 2025. With this sequential rise, I feel increasingly confident that is the case. Overall, Key's net interest margin (NIM') was 2.04%, up 2bps sequentially, thanks to a 8bps benefit from rolling ...

KeyCorp (NYSE:KEY) Q2 2024 Earnings Conference Call July 18, 2024 9:00 AM ET Company Participants Brian Mauney – Director, IR Christopher M. Gorman – Chairman and CEO Clark H. I. Khayat – CFO Conference Call Participants Ebrahim Poonawala - Bank of America Securities Robert Siefers - Piper Sandler Kenneth Usdin - Jefferies Erika Najarian - UBS Gerard Cassidy - RBC Capital Markets John Pancari - Evercore ISI Matthew O'Connor - Deutsche Bank Manan Gosalia - Morgan Stanley Steven Alexopoulos - J.P. Morgan Mich ...

Quarterly total revenues (tax equivalent or TE) declined 4.3% year over year to $1.53 billion. However, the top line beat the Zacks Consensus Estimate of $1.52 billion. Non-interest expenses increased marginally to $1.08 billion. This included the additional FDIC special assessment charge of $5 million. We projected the metric to be $1.1 billion. KeyCorp's (KEY) second-quarter 2024 adjusted earnings from continuing operations of 25 cents per share beat the Zacks Consensus Estimate by a penny. The bottom lin ...