KeyCorp (NYSE: KEY), a provider of retail and commercial banking services, has announced financial results for the second quarter of 2024.
- Net income from continuing operations attributable to shareholders decreased to $237 million in Q2 from $250 million in the prior year quarter
- Second-quarter net interest income dropped to $899 million from $986 million in the year-ago quarter
- Total revenue came in at $1.53 billion during the three months, compared to $1.60 billion last year
- On a per-share basis, net profit was $0.25 per share in the June quarter, vs. $0.27 per share a year earlier
- Taxable-equivalent net interest income was $899 million in the second quarter, and the net interest margin was 2.04%
- Average loans were $109.0 billion in the second quarter, a decrease of $11.7 billion from last year, reflective of the company’s planned balance sheet optimization efforts last year
- Average deposits increased by $1.3 billion year-over-year to $144.2 billion during the three months