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Dec 31, 2021

KeyCorp Q4 2021 Earnings Report

Reported net income of $601 million, or $.64 per diluted common share for the fourth quarter of 2021.

Key Takeaways

KeyCorp reported a strong fourth quarter in 2021, with record revenue and pre-provision net revenue for both the quarter and the full year. The company demonstrated positive operating leverage and strong credit quality, returning 75% of net income to shareholders in 2021.

Record revenue for the fourth quarter and full year

Record pre-provision net revenue for the fourth quarter and full year

Positive operating leverage for the fourth quarter and full year

Strong credit quality: net charge-offs to average loans of 8 basis points

Significant capital return: 75% of net income returned to shareholders in 2021

Total Revenue
$1.95B
Previous year: $1.85B
+5.5%
EPS
$0.64
Previous year: $0.56
+14.3%
Net Interest Margin
2.44%
Previous year: 2.7%
-9.6%
Cash Efficiency Ratio
59.4%
Net Loan Charge-offs
0.08%
Previous year: 0.53%
-84.9%
Gross Profit
$1.87B
Previous year: $1.78B
+5.0%
Cash and Equivalents
$913M
Previous year: $1.09B
-16.3%
Total Assets
$186B
Previous year: $170B
+9.4%

KeyCorp

KeyCorp

KeyCorp Revenue by Segment

Forward Guidance

This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements do not relate strictly to historical or current facts. Forward-looking statements usually can be identified by the use of words such as “goal,” “objective,” “plan,” “expect,” “assume,” “anticipate,” “intend,” “project,” “believe,” “estimate,” or other words of similar meaning.

Revenue & Expenses

Visualization of income flow from segment revenue to net income