CLEVELAND, Sept. 18, 2024 /PRNewswire/ -- KeyCorp (NYSE: KEY) and its banking affiliates have lowered their prime lending rate to 8.00 percent from 8.50 percent, effective tomorrow, Sept. 19, 2024.

About KeyCorpKeyCorp's roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $187 billion at June 30, 2024. 

Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,200 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC. 

While election uncertainty stalls business decisions, small business owners remain resilient for the year ahead.

CLEVELAND, Sept. 17, 2024 /PRNewswire/ -- Election years often bring heightened uncertainty for business owners, who must navigate potential policy shifts that could significantly impact their operations. KeyBank's Fall 2024 Small Business Flash Poll found that more than three in five (61%) small business owners polled plan to delay making major business decisions until after election results come out, underscoring the significant impact the political environment can have on business strategy.

NEW YORK, Sept. 16, 2024 /PRNewswire/ -- KeyBanc Capital Markets Inc. ("KBCM"), the corporate and investment banking arm of KeyCorp (NYSE:KEY), announced today that Julie Andress, Managing Director, has been appointed to serve as the 2025 Board Chair for the Security Traders Association (STA). 

Founded in 1934, STA is a grassroots organization that educates its members on market structure issues while representing their interests with legislators, regulators and other industry associations. The organization is comprised of more than 20 affiliates in the U.S. and Canada. STA members represent individuals employed in the financial services industry across varying business models and they are committed to promoting goodwill and fostering high standards of integrity in accord with the organization's founding principle, dictum meum pactum, "my word is my bond."

CLEVELAND, Sept. 11, 2024 /PRNewswire/ -- KeyCorp (NYSE: KEY) announced a strategic relationship, which includes a minority investment, with Zentist, a leading cloud-based Insurance Revenue Cycle Management (RCM) software provider for Dental Support Organizations (DSOs) across the country. KeyBank will introduce Zentist's Remit AI software to its extensive network of DSOs, providing them with access to a transformative tool that enhances their dental insurance revenue cycle management operations.

CLEVELAND, Aug. 30, 2024 /PRNewswire/ -- KeyCorp (NYSE: KEY) today announced that The Bank of Nova Scotia ("Scotiabank") has completed the initial purchase of KeyCorp's common stock with an investment of approximately $0.8 billion as expected.  With this investment, Scotiabank now owns approximately 4.9% of KeyCorp's common stock. 

This initial purchase is part of the agreement announced on August 12, 2024, under which Scotiabank (TSX: BNS) (NYSE: BNS) will make a strategic minority investment in KeyCorp of approximately $2.8 billion, representing approximately 14.9% pro forma common stock ownership, for a fixed price of $17.17 per share.

CLEVELAND, Aug. 22, 2024 /PRNewswire/ -- KeyCorp (NYSE: KEY) announced today that Clark Khayat, Chief Financial Officer, will present at The Barclays Global Financial Services Conference on Monday, September 9, 2024, at 2:45 p.m. ET in New York City.

KeyCorp plans to review its performance, strategy, and outlook. The live audio webcast of the conference call will be available at www.key.com/ir. If you are unable to join the live conference call, or wish to hear a re-broadcast, access www.key.com/ir and select Events & Presentations.

Opportunistic capital raise on attractive terms

Accelerates capital and earnings improvement; capital raise estimated to result in pro forma CET1 of 12.4%

Further strengthens Key's capacity for growth 

CLEVELAND, Aug. 12, 2024 /PRNewswire/ -- KeyCorp (NYSE: KEY) today announced it has reached an agreement under which The Bank of Nova Scotia ("Scotiabank") (TSX: BNS) (NYSE: BNS) will make a strategic minority investment in KeyCorp of approximately $2.8 billion, representing approximately 14.9% pro forma common stock ownership, for a fixed price of $17.17 per share.

Average deposits up $1.3 billion compared to the prior quarter and the second quarter of 2023, with client deposits up 5% year-over-year

Disciplined expense management: expenses declined approximately 6% from the prior quarter and were stable versus the year-ago period

Common Equity Tier 1 ratio rose 20 basis points to 10.5%(a)

Credit quality remains solid: net charge-offs to average loans of 34 basis points

CLEVELAND, July 18, 2024 /PRNewswire/ -- KeyCorp (NYSE: KEY) today announced net income from continuing operations attributable to Key common shareholders of $237 million, or $.25 per diluted common share, for the second quarter of 2024. Net income from continuing operations attributable to Key common shareholders was $183 million, or $.20 per diluted common share, for the first quarter of 2024 and $250 million, or $.27 per diluted common share, for the second quarter of 2023.

CLEVELAND, July 10, 2024 /PRNewswire/ -- KeyCorp (NYSE: KEY) announced today that its Board of Directors declared the following dividends for the third quarter of 2024:

A cash dividend of $0.205 per share on the corporation's outstanding common shares (NYSE: KEY). The dividend is payable on September 13, 2024, to holders of record of such Common Shares as of the close of business on August 27, 2024;A dividend of $312.50 per share (equivalent to $12.50 per depositary share (CUSIP #493267AK4)) on the corporation's outstanding Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock, Series D (CUSIP #493267603), payable on September 16, 2024 to holders of record as of the close of business on September 3, 2024, for the period commencing on (and including) June 15, 2024 to (but excluding) September 15, 2024;A dividend of $15.3125 per share (equivalent to $.382813 per depositary share (NYSE: KEY.I)) on the corporation's outstanding Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock, Series E (CUSIP #493267801), payable on September 16, 2024 to holders of record as of the close of business on September 3, 2024, for the period commencing on (and including) June 15, 2024 to (but excluding) September 15, 2024;A dividend of $14.1250 per share (equivalent to $.353125 per depositary share (NYSE: KEY.J)) on the corporation's outstanding Fixed Rate Perpetual Non-Cumulative Preferred Stock, Series F (CUSIP #493267884), payable on September 16, 2024 to holders of record as of the close of business on September 3, 2024, for the period commencing on (and including) June 15, 2024 to (but excluding) September 15, 2024;A dividend of $14.0625 per share (equivalent to $.351563 per depositary share (NYSE: KEY.K)) on the corporation's outstanding Fixed Rate Perpetual Non-Cumulative Preferred Stock, Series G (CUSIP #493267850), payable on September 16, 2024 to holders of record as of the close of business on September 3, 2024, for the period commencing on (and including) June 15, 2024 to (but excluding) September 15, 2024; andA dividend of $15.50 per share (equivalent to $.3875 per depositary share (NYSE: KEY.L)) on the corporation's outstanding Fixed Rate Reset Perpetual Non-Cumulative Preferred Stock, Series H (CUSIP #493267835), payable on September 16, 2024 to holders of record as of the close of business on September 3, 2024, for the period commencing on (and including) June 15, 2024 to (but excluding) September 15, 2024.

Technology investment makes it easier and faster for clients to verify their income, assets, and employment

CLEVELAND, July 10, 2024 /PRNewswire/ -- In today's competitive homebuying environment, KeyBank's (NYSE: KEY) latest digital investment in home lending is making it faster and easier for clients looking to purchase a home.

KeyBank recently unveiled a digital enhancement that automates the time-consuming verification of borrowers' income, assets, and employment. Using this instant verification technology reduces the need for borrowers to gather and submit multiple pieces of documentation. This improves the client experience by simplifying the loan process, ensuring necessary borrower information is uploaded securely into KeyBank's system, and enabling faster closing times.

Funding milestone illustrates KeyBank's commitment to making homeownership affordable and sustainable for all

CLEVELAND, July 1, 2024 /PRNewswire/ -- Today, KeyBank announced that it has funded more than $2 million in KeyBank Home Buyer CreditsSMi, helping 442 clients achieve their dream of homeownership in areas where the program is available. This milestone is the latest KeyBank has achieved since launching this program in September 2022.