KeyCorp (KEY) investor relations material

Executive summary

• Record taxable-equivalent revenue reached $2.052B, up 8.3% YoY; diluted EPS was $0.51, up 24.4% YoY.

• PPNR was $807M, versus $718M in Q3 2025 and $747M in Q2 2026; ROTCE reached 15.11%.

• Relationship-led growth, stronger deposits, commercial lending and improving credit quality supported results.

Financial highlights

• Taxable-equivalent NII was $1.308B, up $115M YoY and $50M QoQ; noninterest income was $744M, up 6.0% YoY.

• Noninterest expense was $1.245B, up 5.8% YoY and 2.3% QoQ; excluding the prior-year FDIC assessment, expense increased 5% YoY.

• Provision for credit losses was $61M, including a $28M reserve release.

• Investment banking and debt placement fees were $214M, up 27% QoQ; trust and investment services income rose 10% YoY and cards and payments income rose 8%.

Outlook and guidance

• FY26 revenue growth outlook was ~8%; NII growth outlook tightened to ~10% from 9%–11%.

• FY26 average loan growth is expected at ~5%, including ~10% commercial loan growth; loan growth is expected to be funded by client deposits.

• FY26 NCO outlook improved to 37–39 bps from 40–45 bps; expense growth outlook remains 4%.

• Q4 2026 NIM exit-rate outlook is ~3.00%, with average earning assets expected to increase $1.5B–$2B QoQ; FY26 noninterest income outlook is up 4%–5%.

• Longer-term targets include 4Q27 NIM above 3.25%, ROTCE above 15%, and a long-term ROTCE range of 16%–19%.