real-time news and commentary for investors
Wednesday, Oct 16
KeyCorp 2% higher after Q3 results
- Net interest income of $584M up 1% Y/Y with net interest margin of 3.11% of 12 basis points.
- Noninterest income of $459M is off 11.3% from a year ago, with much of the decline due to last year's gain associated with the redemption of trust preferred securities. Expenses increased a hair to $716M.
- Commercial loans gained 11.1% Y/Y, home equity loans gains 4%, and other consumer loans rose 1.8%. Total loans grew 5.1%.
- Provision for credit losses fell to $28M to $109M.
- Tier 1 common capital ratio of 11.11% vs. 11.3% a year ago.
- Conference call at 9 ET.
- Q3 results, press release.
- KEY +2% premarket.