KeyCorp announced Q4/14 net income from continuing operations attributable to Key common shareholders of $246 million was up 7.4% from $229 million for Q4/13. Earnings per share of $0.28 compares with analysts’ estimates of $0.26 a share adjusted for one-time items.
For the 12 months ended December 31, 2014, net income was $917 million, up 8.3% from $847 million for the same period one year ago.
Highlights from the news release included:
“Fourth quarter was a strong finish to the year,” said chairman and chief executive officer Beth Mooney. “Our results reflect positive operating leverage, with both revenue growth and well-controlled expenses. Revenue benefited from solid loan growth, driven by a 12% increase from the prior year in commercial, financial and agricultural loans. Core expense levels continued to decline, and our net charge-offs remained well below our historical average.”
To read the entire KeyCorp news release, click here.
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