KeyCorp (WBO:KEY)

€ 16.488 0.002 (0.01%) Market Cap: 16.37 Bil Enterprise Value: 34.87 Bil PE Ratio: 1,722.21 PB Ratio: 1.19 GF Score: 38/100

Q3 2021 KeyCorp Earnings Call Transcript

Oct 21, 2021 / 02:00PM GMT

Transcript 10-Q8-K

Christopher Marrott Gorman

KeyCorp - Chairman, President & CEO

And Mark Midkiff, our Chief Risk Officer.

On Slide 2, you will find our statement on forward-looking disclosure and non-GAAP financial measures. It covers our presentation materials and comments as well as the question-and-answer segment of our call.

I'm now moving to Slide 3. This morning, we reported another strong quarter with net income of $616 million or $0.65 a share. We delivered positive operating leverage and expect to generate positive operating leverage for the full year. We delivered record third quarter revenue, which was up 8% from the year ago period. Our results were driven by growth in both net interest income and noninterest income. Noninterest income reached a record third quarter level, up 17% from the same period last year. The increase was driven by broad-based growth across our fee-based businesses, including investment banking, which was up 61%. I am especially proud of the way our teammates continue to serve our communities and clients and in doing so, creating new and deeper relationships

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