KeyCorp (NYSE: KEY), a provider of retail and commercial banking services, on Thursday reported an increase in adjusted earnings for Q3 FY25 when the company’s interest income rose in double digits.
- Q3 revenue more than doubled to $1.9 billion; net interest income rose 24% YoY to $1.19 billion
- Net income from continuing operations attributable to shareholders was $454 million or $.41 per share in Q3, vs. a loss of $447 million or $0.47 per share last year
- On an adjusted basis, net income from continuing operations rose to $0.41 per share from $0.30 per share in Q3 2024
- Book value at period end was $15.86, compared to $14.53 in the third quarter of last year
- Return on average tangible common equity was 12.5% in the September quarter; return on average total assets came in at 1.04%
- Average deposits totaled $150.4 billion in the third quarter, an increase of $2.6 billion compared to the year-ago quarter
- Provision for credit losses for the third quarter was $107 million, compared to $95 million in the third quarter of 2024
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