KeyCorp’s earnings rise in 2nd quarter

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NEW YORK — KeyCorp, the nation’s 15th-largest bank, based in Cleveland, said second-quarter earnings rose to $223 million, or a record $1.02 per share, from $217 million, or 92 cents, a year ago. KeyCorp Chairman Robert W. Gillespie attributed the gain not only to improved…
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NEW YORK — KeyCorp, the nation’s 15th-largest bank, based in Cleveland, said second-quarter earnings rose to $223 million, or a record $1.02 per share, from $217 million, or 92 cents, a year ago.

KeyCorp Chairman Robert W. Gillespie attributed the gain not only to improved earnings on assets and to fee income, but to expense control. KeyCorp downsized 117 branches and sold or agreed to sell an additional 96.

For the first six months, KeyCorp earned $435 million, or $1.98 per share, up from $425 million, or $1.80, in the same period a year ago.


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