KeyCorp Tops Estimates on Smaller Loan-Loss Provision
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KeyCorp, Ohio’s second-largest bank, posted third-quarter profit of $219 million, beating analysts’ estimates as smaller loan-loss provisions helped the company rebound from a loss last year.
Net income was $219 million, or 20 cents a share, compared with a $397 million loss, or 52 cents, in the same period a year earlier, the Cleveland-based lender said today in a statement. Adjusted earnings were 19 cents a share, compared with the 3-cent average estimate of 26 analysts surveyed by Bloomberg.