KeyCorp (KEY) investor relations material

Business performance and strategic positioning

• Raised $2.8 billion in 2024, using half to reposition the balance sheet, resulting in improved accretion and strong tailwinds into 2025 and 2026.

• Achieved 44% PPNR growth, 23% NII growth, and 7.5% fee growth in 2025, with significant momentum in investment banking and middle market M&A.

• Grew commercial clients by 4% in 2025, emphasizing client acquisition as a key driver for future growth.

• Consumer accounts hold 25% more cash than pre-pandemic, with spending up 5% and strong wealth effects supporting financial health.

• Hired 10% more bankers in key areas, with rapid productivity and record loan backlogs, positioning for continued growth in 2026.

Market trends and sector activity

• Early 2026 shows $600 million loan and $900 million C&I growth, with renewed activity in real estate and middle market deals.

• Power and renewables, healthcare, and basic industrials are sectors with heightened activity and strategic focus.

• 60% of polled clients expect benefits from recent tax incentives, supporting optimism for CapEx and reshoring trends.

• Policy uncertainty has dissipated post-Liberation Day, with businesses adapting to ongoing volatility.

Deposit and branch strategy

• $88 billion in core retail deposits, with a bifurcated approach: mass affluent focus in the East and growth via in-migration and digital offerings in the West.

• Penetration of mass affluent segment doubled in 24 months, bringing in $7 billion in deposits and AUM.

• Western markets benefit from faster household and income growth, with 300 branches supporting expansion.