KeyCorp Reports Strong First Quarter 2025 Results

KeyCorp ( (KEY) ) has released its Q1 earnings. Here is a breakdown of the information KeyCorp presented to its investors.

KeyCorp, a major bank-based financial services company headquartered in Cleveland, Ohio, offers a wide range of financial products and services, including deposit, lending, cash management, and investment services across 15 states under the KeyBank National Association brand.

In its first quarter of 2025 earnings report, KeyCorp announced a net income of $370 million, or $0.33 per diluted common share, marking a significant recovery from a net loss in the previous quarter. The company reported a total revenue of $1.8 billion, reflecting a 16% increase year-over-year, with noninterest expenses slightly decreasing by 1%.

Key financial highlights include a 4% quarter-over-quarter increase in net interest income and a 9% decline in nonperforming assets. The common equity tier 1 ratio improved to 11.8%, up by approximately 150 basis points from the previous year. The company also saw a 4% year-over-year increase in client deposits and a $1.2 billion growth in commercial loans since the end of the previous year.

Looking ahead, KeyCorp’s management expressed confidence in navigating the current economic environment, citing strong capital and liquidity positions. The company aims to maintain its momentum in earnings and business operations, supported by positive trends in net interest income and strategic growth in its fee-based businesses.