Cleveland-based KeyCorp on Oct. 18 reported third-quarter net income applicable to common shares of $468 million, or 45 cents per share, up from net income of $350 million, or 32 cents per share, in the same quarter of 2017.
The S&P Global Market Intelligence consensus mean estimate for third-quarter GAAP EPS was 45 cents.
The company's noninterest income for the quarter was $609 million, up 2.9% from the year-ago quarter's $592 million. The increase can primarily be attributed to investment banking and debt placement fees, which reached $166 million, up 17.7% from the year-ago value of $141 million.
Average total loans ticked up 2% year over year and barely changed quarter over quarter to $88.47 billion.
Average total deposits grew 2% compared to the year-ago period and ticked up 2% from the prior quarter to $105.63 billion.
The company's provision for credit losses was $62 million for the third quarter, compared to $64 million for the linked quarter, and $51 million for the year-ago period.
Nonperforming assets totaled $674 million, up from $571 million in the linked quarter and up from $556 million a year ago.