KeyCorp quarterly profit rises on interest income strength
KeyCorp quarterly profit rises on interest income strength July 21 (Reuters) - US lender KeyCorp KEY.N reported a rise in second-quarter profit on Tuesday, as the bank was helped by a strong lending environment that boosted its income from interests.
Shares of the bank, which have gained 13% so far in 2026 to outperform the broader S&P 500 index .SPX, were up 1.8% in trading before the bell.
Income from continuing operations attributable to the bank's common shareholders came in at $472 million, or 44 cents per share, in the three months ended June 30, compared with $387 million, or 35 cents apiece, in the year earlier.
The Cleveland, Ohio-based lender's net interest income - the difference between what it earns on loans and pays out on deposits - rose 9.4% to $1.26 billion.
"While the operating environment remains dynamic, our performance in the first half of the year demonstrates the power of our strategy," CEO Chris Gorman said.
Average loans at KeyCorp were $110.1 billion for the second quarter of 2026, an increase of $4.4 billion compared to the year ago period.
The bank's revenue from continuing operations grew about 7% on a year-over-year basis to $1.96 billion.
(Reporting by Pritam Biswas in Bengaluru; Editing by Joyjeet Das)
((Pritam.Biswas@thomsonreuters.com;))
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