KeyCorp announced net income from continuing operations attributable to common shareholders of $370 million, or $.33 per diluted common share, for the first quarter of 2025. This represents a significant increase from the previous quarter's net loss and a substantial rise from the first quarter of 2024.
The company reported total revenue of $1.8 billion, marking a 16% increase year-over-year, while noninterest expense decreased by 1% year-over-year, demonstrating positive operating leverage. Taxable-equivalent net interest income grew 4.1% quarter-over-quarter and a robust 24.7% year-over-year, with the net interest margin expanding to 2.58%.
Credit quality continued to improve, with nonperforming assets declining by 9% and net charge-offs by 4% quarter-over-quarter. KeyCorp's capital position remained strong, with a Common Equity Tier 1 ratio of 11.8%, up approximately 150 basis points year-over-year. Commercial loans also saw growth, increasing by $1.2 billion from year-end levels.
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