AI English summary of an SEC filing — figures as filed
KeyCorp KEYKeyCorp said its net loss from continuing operations attributable to Key common shareholders for Q3 2024 was $(447) million, or $(.47) per diluted common share, and its adjusted net income was $290 million, or $.30 per diluted common share. The company said the results included charges related to the loss on the sale of securities of $(737) million after tax, or $(.77) per diluted common share.
Key points
AI summaryKeyCorp said its net loss from continuing operations attributable to Key common shareholders for Q3 2024 was $(447) million, or $(.47) per diluted common share, and its adjusted net income was $290 million, or $.30 per diluted common share. The company said the results included charges related to the loss on the sale of securities of $(737) million after tax, or $(.77) per diluted common share.
The company said taxable-equivalent net interest income for Q3 2024 was $964 million, and the net interest margin was 2.17%. Compared with Q2 2024, net interest income rose $65 million and the net interest margin increased 13 basis points.
The company said it completed the initial $821 million investment in the $2.8 billion capital raise from Scotiabank in Q3. As of September 30, 2024, its estimated Common Equity Tier 1 ratio was 10.8% and its Tangible Common Equity ratio was 6.2%.
The company said net loan charge-offs for Q3 2024 were $154 million, or 0.58% of average total loans, and its provision for credit losses was $95 million. Nonperforming loans at period end were $728 million, and nonperforming assets were $741 million.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.
KeyCorp Reports Q3 2024 Net Loss and Adjusted Net Income
KeyCorp said its net loss from continuing operations attributable to Key common shareholders for Q3 2024 was $(447) million, or $(.47) per diluted common share, and its adjusted net income was $290 million, or $.30 per diluted common share. The company said the results included charges related to the loss on the sale of securities of $(737) million after tax, or $(.77) per diluted common share.
Source · Based on the filing body and exhibits
Net Interest Income and Margin Changes
The company said taxable-equivalent net interest income for Q3 2024 was $964 million, and the net interest margin was 2.17%. Compared with Q2 2024, net interest income rose $65 million and the net interest margin increased 13 basis points.
Source · Based on the filing body and exhibits
Scotiabank Investment 1 Tranche and Capital Ratios
The company said it completed the initial $821 million investment in the $2.8 billion capital raise from Scotiabank in Q3. As of September 30, 2024, its estimated Common Equity Tier 1 ratio was 10.8% and its Tangible Common Equity ratio was 6.2%.
Source · Based on the filing body and exhibits
Net Charge-Offs and Nonperforming Asset Metrics
The company said net loan charge-offs for Q3 2024 were $154 million, or 0.58% of average total loans, and its provision for credit losses was $95 million. Nonperforming loans at period end were $728 million, and nonperforming assets were $741 million.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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