KEYCORP LOWERS ITS PRIME LENDING RATE TO 7.50 PERCENT
KeyCorp (NYSE: KEY) has announced a reduction in its prime lending rate from 7.75% to 7.50%, effective December 19, 2024. The change applies to KeyCorp and its banking affiliates. The company, headquartered in Cleveland, Ohio, operates with assets of approximately $190 billion as of September 30, 2024. KeyBank National Association serves individuals and businesses across 15 states through approximately 1,000 branches and 1,200 ATMs, providing deposit, lending, cash management, and investment services. Additionally, through KeyBanc Capital Markets, the company offers corporate and investment banking products to middle market companies.
KeyCorp (NYSE: KEY) ha annunciato una riduzione del suo tasso di interesse principale dal 7,75% al 7,50%, a partire dal 19 dicembre 2024. Questa modifica si applica a KeyCorp e alle sue affiliate bancarie. L'azienda, con sede a Cleveland, Ohio, gestisce attivi per circa 190 miliardi di dollari al 30 settembre 2024. KeyBank National Association serve individui e imprese in 15 stati tramite circa 1.000 filiali e 1.200 sportelli automatici, offrendo servizi di deposito, prestiti, gestione della liquidità e investimenti. Inoltre, attraverso KeyBanc Capital Markets, l'azienda propone prodotti di banking aziendale e di investimento per le aziende di medie dimensioni.
KeyCorp (NYSE: KEY) ha anunciado una reducción en su tasa de interés preferencial del 7,75% al 7,50%, a partir del 19 de diciembre de 2024. Este cambio se aplica a KeyCorp y a sus afiliadas bancarias. La compañía, con sede en Cleveland, Ohio, opera con activos de aproximadamente 190 mil millones de dólares hasta el 30 de septiembre de 2024. KeyBank National Association sirve a individuos y empresas en 15 estados a través de aproximadamente 1.000 sucursales y 1.200 cajeros automáticos, proporcionando servicios de depósitos, préstamos, gestión de efectivo e inversión. Además, a través de KeyBanc Capital Markets, la empresa ofrece productos de banca corporativa y de inversión a empresas de mercado medio.
KeyCorp (NYSE: KEY)는 2024년 12월 19일부터 기준 대출 금리를 7.75%에서 7.50%로 인하한다고 발표했습니다. 이 변화는 KeyCorp와 그 은행 계열사에 적용됩니다. 오하이오주 클리블랜드에 본사를 둔 이 회사는 2024년 9월 30일 기준으로 약 1,900억 달러의 자산을 보유하고 있습니다. KeyBank National Association은 약 1,000개의 지점과 1,200개의 ATM을 통해 15개 주에서 개인 및 기업에 서비스를 제공합니다. 이들은 예금, 대출, 현금 관리 및 투자 서비스를 제공합니다. 또한 KeyBanc Capital Markets를 통해 중형 기업을 위한 기업 및 투자 은행 서비스를 제공합니다.
KeyCorp (NYSE: KEY) a annoncé une réduction de son taux d'intérêt principal de 7,75 % à 7,50 %, effective à partir du 19 décembre 2024. Ce changement s'applique à KeyCorp et à ses entreprises bancaires affiliées. L'entreprise, dont le siège est à Cleveland, Ohio, gère des actifs d'environ 190 milliards de dollars à la date du 30 septembre 2024. KeyBank National Association sert des particuliers et des entreprises dans 15 États à travers environ 1 000 agences et 1 200 distributeurs automatiques, offrant des services de dépôt, de prêt, de gestion de trésorerie et d'investissement. De plus, à travers KeyBanc Capital Markets, l'entreprise propose des produits de banque d'entreprise et d'investissement aux entreprises de taille intermédiaire.
KeyCorp (NYSE: KEY) hat eine Senkung seines primären Zinssatzes von 7,75% auf 7,50% angekündigt, die am 19. Dezember 2024 in Kraft tritt. Die Änderung gilt für KeyCorp und seine Bankpartner. Das Unternehmen mit Hauptsitz in Cleveland, Ohio, verwaltet Vermögenswerte von etwa 190 Milliarden Dollar zum 30. September 2024. KeyBank National Association bedient Privatpersonen und Unternehmen in 15 Bundesstaaten über etwa 1.000 Filialen und 1.200 Geldautomaten und bietet Dienstleistungen wie Einlagen, Kredite, Cash-Management und Investitionen an. Darüber hinaus bietet das Unternehmen über KeyBanc Capital Markets Kapitalmarkt- und Investmentbankprodukte für mittelständische Unternehmen an.
- Prime rate reduction could stimulate lending activity
- Strong asset base of $190 billion
- Extensive network of 1,000 branches and 1,200 ATMs across 15 states
- Lower prime rate may reduce interest income margins
Insights
The 25 basis point reduction in KeyCorp's prime lending rate to
The rate reduction will have mixed implications: while it could stimulate loan demand by making borrowing more affordable for consumers and businesses, it will likely compress interest margins in the short term. Given KeyCorp's substantial
The timing of this rate cut, following the Fed's dovish pivot, suggests we're entering a new phase of the rate cycle. This could lead to increased mortgage refinancing activity and commercial loan originations, potentially offsetting some of the margin pressure. However, the key metric to watch will be the bank's deposit beta - how quickly deposit rates adjust downward compared to lending rates.
This prime rate reduction signals broader implications for market dynamics and monetary policy transmission. The move to
The reduction's market impact extends beyond KeyCorp's immediate business. As one of the larger regional banks with
For investors, this rate adjustment serves as a leading indicator of the banking sector's profit outlook and credit cycle positioning. Regional banks like KeyCorp typically see their stock performance influenced by rate cycle transitions, with historical data showing increased volatility during the initial phases of rate reduction cycles.
About KeyCorp
KeyCorp's roots trace back nearly 200 years to
Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,200 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout
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SOURCE KeyCorp
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