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Scotiabank to buy 14.9% of KeyCorp for about $2.8B

BankInovation

Bank of Nova Scotia agreed to buy a minority stake in KeyCorp, which was among the US regional banks hit hardest in last year’s tumult, for about $2.8 of Cleveland-based KeyCorp by buying shares at $17.17 billion as part of a focus on North America. Scotiabank will acquire 14.9% each, representing an 11% premium to […]

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Key looks to offload risk in deal with Blackstone

American Banker

The Cleveland-based regional bank is shedding credit risk in a partnership with the private equity giant Blackstone. It's the latest tie-up between asset managers and regional banks that are looking to free up balance-sheet capacity.

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Spread income growth and cost control drive Key's profit higher

American Banker

The Cleveland-based regional bank continues to benefit from strength in investment banking, but CEO Chris Gorman described loan demand as tepid.

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Key has big ambitions for its new CDFI partnership

American Banker

The Cleveland-based regional bank recently announced a $20 million line of credit for Lendistry, a Los Angeles-based, minority-led community development financial institution.

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Why Key is more optimistic entering 2024

American Banker

The Cleveland-based regional bank was not well positioned for the sharp rise in interest rates last year. But executives say the year ahead will be different, pointing to strong credit quality and a repricing of Key's securities portfolio.

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KeyCorp Picks Buffalo as Regional Headquarters

American Banker

KeyCorp in Cleveland will open a regional headquarters in western New York as part of its acquisition of First Niagara Financial Group.

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KeyCorp defends its credit cushion as ample

American Banker

Other regionals set more aside for loan losses than the Cleveland bank did in the second quarter, and its ratio of reserves to total loans is slightly lower, too. But Key executives say the portfolio is balanced and holding up well despite the pandemic’s economic toll.