KeyCorp Q4 2024 GAAP net loss $279M, adjusted EPS $0.38; CET1 rises to 12%

KEYCORP /NEW/

2024-FY EPS reported -$0.32 revenue$4,619,000,000

Q4 GAAP net loss $(279)M, $(0.28)/share; adjusted net income $378M, $0.38/share.
Revenue $865M, down 44% YoY (GAAP) but adjusted revenue up 16% YoY on higher NII and fees.
Completed $3B securities portfolio repositioning in Q4; NII up 10% linked quarter to $1.061B.
Scotiabank minority investment received regulatory approval and closed; CET1 ratio improved 120bps to 12.0%.
Net charge-offs fell 26% QoQ to $114M; criticized loans down 7%; dividend declared $0.205/share.

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