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Jun 30, 2023
KeyCorp Q2 2023 Earnings Report
KeyCorp reported second quarter results reflecting a durable relationship-based business model, sound risk management, and a strong balance sheet.
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
KeyCorp
KeyCorp Revenue by Segment
Revenue by Segment
Consumer Bank Revenue
CapyFin.comCommercial Bank Revenue
CapyFin.comOther Revenue
CapyFin.com 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