KeyCorp Q1 2024 Earnings Report
Key Takeaways
KeyCorp reported a solid start to 2024 with net income of $183 million, driven by strong investment banking performance and well-controlled expenses. Customer deposits increased, and key capital ratios improved.
Net income from continuing operations attributable to Key common shareholders was $183 million, or $0.20 per diluted common share.
Noninterest income increased by 6% year-over-year and linked quarter, driven by strength in investment banking and debt placement fees.
The company continued to strengthen its balance sheet by reducing reliance on wholesale funding and higher cost brokered deposits.
Common Equity Tier 1 ratio increased 120 basis points year-over-year to 10.3%.
KeyCorp
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KeyCorp Revenue by Segment
Forward Guidance
Key is back to playing offense. I remain excited for our future and believe our strong foundation positions us to deliver sound, profitable growth moving forward.
Revenue & Expenses
Visualization of income flow from segment revenue to net income