KeyCorp Q1 2024 net income $183M ($0.20 EPS); noninterest income up 6% YoY

KEYCORP /NEW/

2024-Q1 EPS reported $0.20 revenue$1,533,000,000

Net income $183M, EPS $0.20, vs $275M ($0.30) YoY; includes $0.02 FDIC special assessment.
Net interest income $886M, down 19.9% YoY; net interest margin 2.02%, down 45 bps.
Noninterest income $647M, up 6.4% YoY, driven by record Q1 investment banking fees (+17.2%).
CET1 ratio 10.3%, up 120 bps YoY; tangible common equity ratio 5.0%.
Net charge-offs $81M (0.29% of loans) vs $45M (0.15%) YoY; NPLs $658M (0.60% of loans).

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