KeyCorp filed a Current Report on Form 8-K dated September 25, 2026, disclosing an investor presentation to be used in future communications. The filing indicates the company is focused on executing its targeted scale strategy to deliver sound, profitable growth.
The presentation details a strong foundation for the bank, highlighting a sticky, granular client deposit base and leading capital and liquidity positions among peers. It notes a 10-year average non-performing loan ratio of 30 basis points and emphasizes a diversified, fee-based business mix.
KeyCorp reported record assets under management (AUM) of $74 billion as of the first half of 2026. The company reported diluted earnings per share of $0.88 for the first half of the year, with net interest income increasing 10% and noninterest income rising 5% compared to the same period in the prior year.
The company outlined its business mix, with consumer deposits and loans comprising 52% and 60% of the average loan portfolio, respectively. Commercial segments account for 48% of average loans and 62% of net interest income. The presentation projects net interest income tailwinds through 2027, driven by the repricing of $30 billion in low-rate swaps, securities, and residential mortgages.
Regarding capital allocation, KeyCorp stated it expects to repurchase at least $1.3 billion of shares in 2026, following a May 2026 authorization of up to $3 billion. The company also reiterated its goal to achieve a return on tangible common equity (ROTCE) of 15% or higher by the fourth quarter of 2027.
Strategic investments include a planned technology budget of approximately $1 billion, up from 2024 levels, and an increase in front-line bankers by 6-7%. The company also highlighted the acquisition of Clearwater Corporate Finance LLP (Clearwater UK), closed in August 2026, which is expected to add $60 million to $70 million of revenue in 2027.
