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KeyCorp Q2 net income $159 million

Christian Fernsby ▼ | July 23, 2020
KeyCorp announced net income from continuing operations attributable to Key common shareholders of $159 million for the second quarter of 2020, compared to $118 million for the first quarter of 2020 and $403 million for the second quarter of 2019.
KeyCorp
Shareholders   KeyCorp
Taxable equivalent net interest income was $1.0 billion for the second quarter of 2020, compared to taxable equivalent net interest income of $989 million for the second quarter of 2019.

Topics: KeyCorp

The increase in net interest income reflects higher earning asset balances partially offset by a lower net interest margin.

The net interest margin was impacted by lower interest rates, a lag in deposit pricing as interest rates declined, and a change in balance sheet mix, including elevated levels of liquidity and Key's participation in the Paycheck Protection Program.


 

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