KeyCorp (KEY)

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services to individual, corporate, and institutional clients in the United States. The company offers various deposit and loan products. Its deposit product portfolio includes NOW accounts, money market deposit accounts, savings deposits, certificates of deposit, and time deposits. The companys loan product line comprises commercial, financial, and agricultural loans; commercial real estate loans, including commercial mortgage and construction loans; residential real estate loans; and consumer loans. It also offers personal and corporate trust services, personal financial services, access to mutual funds, cash management services, investment banking and capital markets products, international banking services, and investment management services. In addition, the company provides accident, health, and credit-life insurance services; community development financing; securities underwriting and brokerage; and merchant services. As of December 31, 2008, it operated 986 full-service retail banking branches in 14 states and a network of 1,478 automated teller machines in 16 states. The company was founded in 1849 and is headquartered in Cleveland, Ohio.

For the nine months ended 30 September 2006, KeyCorp's total interest income rose 23% to $4.14B. Net interest income after loan loss provision rose 7% to $2.09B. Net income before accounting change rose 9% to $904M. Net interest income reflects higher average earning assets, partially offset by higher interest on deposits. Net income also reflects higher trust & investment services income and an increase in operating lease income.