KeyCorp-Scotiabank Deal Closes, to Support KEY's NII Expansion in 2025

KeyCorp (KEY) has announced the completion of The Bank of Nova Scotia’s (also known as Scotiabank) (BNS) remaining 10% investment in its equity for $2 billion. The companies received approval from the Federal Reserve for the deal on Dec. 12.Now, BNS owns almost a 14.9% equity stake in KeyCorp. This completes Scotiabank’s strategic minority investment in KEY, announced on Aug. 8, 2024.For Scotiabank, the step marks a massive advancement as it tries to expand operations in North America. It will be able to ap ...