KeyCorp posts Q3 net loss of $447 million on $737 million securities sale charge
KeyCorp reported a third-quarter 2024 net loss from continuing operations attributable to common shareholders of $447 million, or $0.47 per diluted share, after $737 million in after-tax charges tied to a securities portfolio repositioning. Excluding those charges, adjusted net income was $290 million, or $0.30 per diluted share, up from $237 million, or $0.25, in the second quarter, though total revenue fell to $695 million from $1.5 billion. The company received an initial $821 million tranche of its Scotiabank strategic investment, and expects the final tranche in the first quarter of 2025, subject to Federal Reserve approval.
Key points
- Net loss of $447 million, or $0.47 per diluted share, versus net income of $266 million in the third quarter of 2023
- Adjusted net income of $290 million, or $0.30 per diluted share, excluding $737 million in after-tax charges
- Net interest income rose 7% quarter-over-quarter to $964 million; total revenue (TE) was $695 million versus $1,526 million in the second quarter
- Received initial $821 million Scotiabank investment tranche; Common Equity Tier 1 ratio was 10.8%
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:42 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 17, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.