KeyCorp reported Q1/17 net income from continuing operations attributable to Key common shareholders of $296 million compared to $213 million for Q4/16, and $182 million for Q1/16. During the quarter, Key incurred merger-related charges totaling $81 million compared to $198 million in Q4/16.
The following highlights were excerpted from Key’s earnings report:
“Key’s strong first quarter results reflect continued business momentum and our success in realizing value from our First Niagara acquisition,” said Beth Mooney, Key’s chairman and CEO. “We generated positive operating leverage compared to both the prior year and previous quarter. Revenue relative to the year-ago period benefited from higher net interest income, positive momentum in our fee-based businesses and the addition of over one million newly acquired consumer and business clients. We have been successfully growing and expanding client relationships in both our community bank and corporate bank, and we remain on a path to deliver revenue synergies from our acquisition.”
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