$KEY · KEYCORP /NEW/
KeyCorp reported Q3 2026 net income of $537M ($0.51 per diluted share), up 18.3% YoY. Record total revenue of $2.04B grew 8% YoY, driven by net interest income of $1.30B (+9.8% YoY) and noninterest income of $744M (+6% YoY). Net interest margin reached 2.95%, return on tangible common equity exceeded 15%, and the company repurchased $320M in common shares.
- Record total revenue of $2.04B, up 8% YoY and 4% sequentially.
- Diluted EPS of $0.51, up 24% YoY from $0.41 in Q3 2025.
- Net interest margin expanded to 2.95%, up 20 bps YoY and 6 bps sequentially.
- Investment banking and debt placement fees surged 27% sequentially to $214M.
- Net loan charge-offs fell to 0.32% of average loans vs 0.42% in both prior quarters.
Extended-hours trading shows KEY at $20.07, up 0.75% vs the regular close of $19.92, indicating a positive initial reaction to the record revenue and ROTCE exceeding 15%. With a $21.50B market cap, the $320M buyback and broad-based credit improvement provide additional support.
KeyCorp's record revenue, 15%+ ROTCE milestone, and broad-based credit improvement signal a regional bank hitting its stride in a declining-rate environment — with the buyback adding capital-return he
KeyCorp's NIM expansion to 2.95% and 15%+ ROTCE puts it among the stronger regional bank performers this cycle. The 27% sequential jump in IB fees mirrors the capital markets rebound seen at larger peers, while deposit cost management at 1.66% demonstrates pricing discipline as rates decline.
Personnel expense rose 9.8% YoY to $815M, driven by incentive compensation and investments in people — if revenue growth slows, this operating leverage turns negative. The CET1 ratio declined to 11.1% from 11.8% a year ago, partly reflecting the $320M buyback.
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