Group 1 - Key Private Bank has been awarded the best "Private Banking Client Service" at the PAM Awards for the fifth time, recognizing its exceptional client service in the wealth management sector [1][3][4] - The PAM Awards have been recognizing high-performing firms and wealth advisors in the private wealth industry for over two decades, with winners selected by an independent panel based on qualitative and quantitative performance indicators [2] - Key Private Bank's award highlights its commitment to providing customized wealth management and financial planning solutions to high-net-worth and ultra-high-net-worth clients [4][5] Group 2 - Key Private Bank manages $55 billion in assets under management (AUM) and $60 billion in assets under administration (AUA) as of December 31, 2024 [5] - KeyCorp, the parent company of Key Private Bank, has approximately $187 billion in total assets as of December 31, 2024, making it one of the largest bank-based financial services companies in the United States [6] - KeyBank operates approximately 1,000 branches and 1,200 ATMs across 15 states, providing a range of financial services including deposit, lending, and investment services [7]

Core Insights - KeyCorp's Chairman and CEO, Chris Gorman, will present at the Bank of America Securities 2025 Financial Services Conference on February 11, 2025, at 8:00 a.m. ET in Miami [1] - The conference will include a review of KeyCorp's performance, strategy, and outlook, potentially featuring forward-looking statements and other material information [2] - KeyCorp is celebrating its bicentennial in 2025, marking 200 years of service, and has approximately $187 billion in assets as of December 31, 2024 [3] Company Overview - KeyCorp operates under the name KeyBank National Association, providing deposit, lending, cash management, and investment services across 15 states with around 1,000 branches and 1,200 ATMs [4] - The company also offers a range of corporate and investment banking products, including merger and acquisition advice, public and private debt and equity, syndications, and derivatives, primarily targeting middle market companies in selected industries [4]

Core Points - KeyBank has launched a year-long bicentennial celebration to mark its 200 years of service to clients and communities in 2025 [1][5] - The bank was founded in 1825 in Albany, New York, and has evolved into one of the nation's largest bank-based financial services companies [2][5] - A digital KeyBank Heritage Center has been unveiled, providing an interactive look at the bank's history and significant milestones [2] - A state-of-the-art Heritage Center will open in April 2025 at KeyBank's headquarters in Cleveland, featuring interactive exhibits and artifacts [3] - KeyBank operates with approximately 17,000 teammates and serves millions of clients across 15 states, with a network of around 1,000 branches and 1,200 ATMs [4][6] Company Overview - KeyCorp, the parent company of KeyBank, has assets of approximately $187 billion as of December 31, 2024 [5] - KeyBank offers a range of services including deposit, lending, cash management, and investment services, as well as corporate and investment banking products under the KeyBanc Capital Markets name [6]

Group 1 - KeyCorp reported solid earnings for the last quarter of the 2024 fiscal year, showing a decent EPS beat but missing on revenue [1] - The bank, along with other lenders, benefited from favorable market conditions [1] Group 2 - The article does not provide any specific investment recommendations or advice [2][3]

Deposit Growth and Embedded Banking Opportunities - Overall average deposits reached $149.7 billion in Q4, up from $145.1 billion YoY and 1.3% higher than Q3 levels, driven by growth in both consumer and commercial deposits [1] - Growth opportunities lie within embedded banking offerings, with commercial payments-related revenues growing in the mid-single digit percentage points [1][3] - The company plans to continue investing in embedded banking capabilities, including software advisors, relationship bankers, digital and analytics tools [4] Credit Quality and Consumer Segment Performance - Credit card charge-offs were 4.5% in Q4 [2] - Non-performing assets are peaking, with non-performing loans expected to decline by midyear assuming a constructive macro environment [2] - The company grew its number of relationship households by over 3% for the second consecutive year, with 5-8% growth in Western markets and continued growth in Eastern markets [2] Loan Outlook and Lending Environment - Average loans are expected to decline 2-5% by the end of 2025, with balances flat compared to 2024 [4] - 80% of middle-market clients surveyed are confident in their growth prospects and plan to invest in property, plants, and equipment [5] Regulatory Environment and Investment Roadmap - The regulatory environment around M&A has been challenging, but there is potential for improvement and significant opportunities in the future [6] - The company has been migrating to the cloud, replacing 2 core systems annually, and will continue to invest in the business, hire talent, and pursue bolt-on acquisitions [6] Consumer Lending Strategy - Consumer lending is an important element of the balance sheet, with plans to further expand into personal lending over time [7]

KeyCorp (NYSE:KEY) Q4 2024 Earnings Call Transcript January 21, 2025 8:00 AM ET Company Participants Brian Mauney - Director of IR Chris Gorman - Chairman and CEO Clark Khayat - CFO Conference Call Participants John Pancari - Evercore ISI Ebrahim Poonawala - Bank of America Merrill Lynch Bill Carcache - Wolfe Research Manan Gosalia - Morgan Stanley Matthew O'Connor - Deutsche Bank Mike Mayo - Wells Fargo Erika Najarian - UBS Brian Foran - Truist Thomas Leddy - RBC Operator Good morning, and welcome to KeyCo ...

KeyCorp’s (KEY) fourth-quarter 2024 adjusted earnings from continuing operations of 38 cents per share beat the Zacks Consensus Estimate of 33 cents. Further, the bottom line reflected a 52% jump from the prior-year quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The stock lost 4.4% in pre-market trading on deteriorating credit quality and spread income weakness concerns.Results benefited from a rise in adjusted non-interest income, higher net interest income (NII), and lowe ...

For the quarter ended December 2024, KeyCorp (KEY) reported revenue of $1.76 billion, up 15.2% over the same period last year. EPS came in at $0.38, compared to $0.25 in the year-ago quarter.The reported revenue represents a surprise of +1.73% over the Zacks Consensus Estimate of $1.73 billion. With the consensus EPS estimate being $0.33, the EPS surprise was +15.15%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expect ...

KeyCorp Fourth Quarter 2024 Earnings Review January 21, 2025 Chris Gorman Chairman and Chief Executive Officer Clark Khayat Chief Financial Officer 2024 Results 15% Increase in strategic, fee-based businesses (Investment Banking, Wealth and Commercial Payments)(1) $61Bn In Assets Under Management(2) 4% Client Deposit Growth(1) 3% Net New Relationship Household Growth (7)% Criticized Loans QoQ 74bps NPAs / Period-end Loans(2) 41bps NCOs / Average Loans 12.0% Common Equity Tier 1(3), up ~200bps YoY 9.8% Marke ...

KeyCorp (KEY) came out with quarterly earnings of $0.38 per share, beating the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.25 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 15.15%. A quarter ago, it was expected that this company would post earnings of $0.27 per share when it actually produced earnings of $0.30, delivering a surprise of 11.11%.Over the last four quarters, the company has surpa ...