KeyCorp (NYSE:KEY) today announced its financial results for the first quarter ended March 31, 2026, showcasing significant growth across its core banking operations.
The Cleveland-based financial services company reported a net income of $486 million, or $0.44 per diluted share.
This represents a 31% increase compared to the first quarter of 2025 and a 2.5% sequential improvement over the fourth quarter, reflecting a sustained positive trajectory in profitability.
Total revenue for the quarter rose to $1.95 billion, a 10% increase year-over-year.
This growth was largely underpinned by net interest income (NII), which climbed 11% to $1.23 billion.
The company’s net interest margin (NIM) stood at 2.87%, benefiting from a favorable shift in asset yields and disciplined deposit pricing.
Management noted that period-end loans also saw an uptick, signaling healthy credit demand from both commercial and consumer clients.
Asset quality remained a highlight for the quarter, with credit metrics staying well within historical norms.
Nonperforming assets were reported at 0.63% of total assets, while net charge-offs remained stable at 0.38%.
This stability allowed KeyCorp to maintain its strong capital position, with its Common Equity Tier 1 (CET1) ratio estimated at a robust 11.4%.