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Keycorp  (KEY)
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    Sector  Financial    Industry Regional Banks
 
 

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Keycorp announced second quarter 2017 operating income of $565 millions



Keycorp delivered very strong results in the second quarter 2017, where Revenues soared by 53.24 % to $1.56 billions, driven by higher revenue in National Banking, while company's earnings jumped by 56.52 % to $0.36 per share, from the same quarter a year ago.

In contrast to the first quarter 2017 Revenues advanced by 8.94 % from $1.43 billions and earnings grew by 33.33 % from $0.27 per share.
Keycorp said it's revenue growth was driven by Community Banking segment up 3.58% National Banking segment up 14.94%, while sales in Other Segments segment fell -25.53%.
Net earnings increase of 104.98 % in the second quarter 2017 was supported by expanding profits in Community Banking and National Banking businesses, 24.56% and 15.97% respectively, while profits recoiled in Other s segment. Producing overall net income of $412 millions for the second quarter 2017, compare to income of $201 millions achieved a year before. Keycorp also emphasized it's improving profit margins, where net margin rose to 26.41% in second quarter 2017, and operating margin edged up to 36.22%.

While following indicators decreased: Net interest spread down -3.6 %, Interest Margin down -3.04 %, Tier1 down -3.2 %, Efficiency Ratio down -2.73 %.
While following indicators decreased: Leverage Ratio 10.67 -0.51 %.
The Regional Banks company, also outlined contraction in Total Capital Ratio -1.58 %.

Keycorp is expected to report next financial results on October 18, 2017.
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