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This statistic highlights KeyCorp’s Revenue Breakdown, split across Interest Income and Non-Interest Income, reported quarterly from Q1 2016 onwards.
KeyCorp is a financial services company that offers a variety of banking and investment options. Its revenue is divided into commercial banking, retail banking, investment banking, and wealth management segments. The organization uses its knowledge in these areas to support enterprises, individuals, and institutions, resulting in growth and value creation for its stakeholders.
The table below shows us KeyCorp’s Revenue Breakdown:
|Business Vertical||2022 Q1||2022 Q4||2023 Q1||% Growth Rate|
|Net interest income||1,020||894||1,106||8.43%|
(All figures are in million USD except percentages)
As can be seen, the company’s revenue has increased over the last three quarters. Total revenue in Q1 2023 is $1,714 million, up from $1,696 million in Q1 2022, representing a 1.06% year-on-year revenue increase.
The revenue distribution by business vertical is broken into two parts:
Net Interest Income
KeyCorp’s net interest income, which represents the money generated by interest-bearing assets and liabilities, increased during the examined period. Net interest income was $1,020 million in 2022 Q1, but fell to $894 million in 2022 Q4, indicating a modest dip. However, the first quarter of 2023 saw a considerable rebound, with net interest income reaching $1,106 million, or an 8.43% increase.
Several causes can be contributed to the increase in net interest income. The focus of KeyCorp on lending operations such as mortgages, business loans, and consumer loans was critical in producing interest income. Furthermore, favorable interest rate conditions and an expanding loan portfolio contributed to this company vertical’s overall strong performance.
Non-interest income includes Trust and investment services income, Investment banking and debt placement fees, Services charges on deposit accounts, Cards, and payments income, operating lease income and other leasing gains, corporate services income, corporate-owned life insurance income, consumer mortgage income, commercial mortgage servicing fees, and other income
Non-interest income was $608 million in the first quarter of 2023, accounting for 35% of total revenue, compared to $676 million in the previous quarter, accounting for 40% of total revenue.
About the Company
KeyCorp is a well-known financial services firm based in Cleveland, Ohio. With a 190-year history, KeyCorp has established itself as a reliable source of banking, investment, and lending solutions. It serves individuals, businesses, and organizations through a network of branches and ATMs spread over 15 states. KeyCorp takes pride in its customer-centric approach, providing personalized financial strategies customized to clients’ specific needs. Retail banking, commercial banking, wealth management, and investment banking are all part of the company’s extensive offering. KeyCorp’s dedication to innovation and technical improvements guarantees that its varied customer base has access to convenient and safe financial solutions.
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