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Mar 31, 2025
KeyCorp Q1 2025 Earnings Report
KeyCorp reported a return to profitability in Q1 2025, with net income of $370 million after a loss in the prior quarter.
Key Takeaways
KeyCorp posted strong Q1 results with increased revenue and net income, driven by rising net interest income and improved credit performance.
Net income reached $370 million, reversing a $279 million loss in Q4 2024.
Revenue rose to $1.77 billion, up 15.7% year-over-year.
Net interest margin improved to 2.58%, aided by lower funding costs.
Credit quality improved, with nonperforming assets down 9% quarter-over-quarter.
Revenue by Segment
Forward Guidance
Management expressed confidence in continued performance backed by capital strength, client momentum, and interest income tailwinds.
Positive Outlook
- Strong capital and liquidity positions
- Sequential growth in commercial loans
- Improving deposit beta trends
- Tailwinds in net interest income expected to continue
- Momentum in fee-based businesses like wealth management and payments
Challenges Ahead
- Uncertainty in the broader macroeconomic environment
- Continued runoff in consumer loans
- Decline in investment banking fees quarter-over-quarter
- Seasonal decreases in some business segments
- Higher credit loss provisions due to economic outlook
Historical Earnings Impact
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Avg. Return Before/After Earnings
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