KeyCorp Q2 2023 Earnings Report
Key Takeaways
KeyCorp reported a net income of $250 million, or $0.27 per diluted common share, for the second quarter of 2023. The results reflect a strong balance sheet with period-end deposits up $1.0 billion compared to the prior quarter, solid credit quality, and disciplined expense management.
Net income from continuing operations attributable to Key common shareholders was $250 million, or $.27 per diluted common share.
Period-end deposits increased by $1.0 billion compared to the prior quarter.
Net charge-offs to average loans were 17 basis points, indicating solid credit quality.
Expenses were down 9% from the prior quarter and relatively stable versus the year-ago period, demonstrating disciplined expense management.
KeyCorp
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KeyCorp Revenue by Segment
Forward Guidance
KeyCorp did not provide specific forward guidance in this earnings report. The CEO expressed confidence in the long-term outlook for Key and its ability to deliver value to stakeholders.
Revenue & Expenses
Visualization of income flow from segment revenue to net income