KeyCorp announced Q1/14 net income from continuing operations attributable to Key common shareholders of $232 million compared to $196 million for Q1/13. Revenue of $1.0 billion was about the same as the same quarter one-year ago.

The report showed average lease financing in Q1/14 of $4,439 million at an average yield of 3.78% compared to $4,843 million in Q1/13 at an average yield of 3.92%. At the end of Q1/14, the lease financing balance
was $4,396 million, down 8.3% from $4,796 at quarter-end 2013.

Key noted that asset quality improved, with net loan charge-offs to average loans declining from .38% to .15%. Provision charges of $6 million in Q1/14 were down from $55 million in Q1/13. “Credit quality trends and our provision for loan losses continued to reflect our strong risk management practices, with both nonperforming loans and net charge-offs declining,” said CEO Beth Mooney.

“This was a solid quarter for Key, delivering on our commitments to generate positive operating leverage, maintain our strong risk management practices, and remain disciplined in the way we manage capital,” said chairman and chief executive officer Beth Mooney. “Revenue trends benefited from solid loan growth, driven by commercial, financial and agricultural loans, and the investments we made in our fee-based businesses”, Mooney added.