KEYCORP LOWERS ITS PRIME LENDING RATE TO 8.00 PERCENT
KeyCorp (NYSE: KEY) and its banking affiliates have announced a reduction in their prime lending rate from 8.50% to 8.00%, effective September 19, 2024. This decision reflects changes in the financial market and could impact various lending products tied to the prime rate. KeyCorp, headquartered in Cleveland, Ohio, is a major bank-based financial services company with assets of approximately $187 billion as of June 30, 2024. The company operates under the name KeyBank National Association, serving individuals and businesses across 15 states through a network of about 1,000 branches and 1,200 ATMs. KeyCorp also offers corporate and investment banking services under the KeyBanc Capital Markets brand.
KeyCorp (NYSE: KEY) e le sue affiliate bancarie hanno annunciato una riduzione del loro tasso d'interesse principale dall'8,50% all'8,00%, a partire dal 19 settembre 2024. Questa decisione riflette i cambiamenti nel mercato finanziario e potrebbe influenzare vari prodotti di prestito legati al tasso principale. KeyCorp, con sede a Cleveland, Ohio, è una società di servizi finanziari con una forte base bancaria, con attivi di circa 187 miliardi di dollari al 30 giugno 2024. L'azienda opera sotto il nome di KeyBank National Association, servendo individui e imprese in 15 stati attraverso una rete di circa 1.000 filiali e 1.200 bancomat. KeyCorp offre anche servizi di banking aziendale e di investimento sotto il marchio KeyBanc Capital Markets.
KeyCorp (NYSE: KEY) y sus afiliadas bancarias han anunciado una reducción en su tasa de interés preferencial del 8.50% al 8.00%, con efecto a partir del 19 de septiembre de 2024. Esta decisión refleja cambios en el mercado financiero y podría impactar varios productos de crédito vinculados a la tasa preferencial. KeyCorp, con sede en Cleveland, Ohio, es una importante empresa de servicios financieros basada en la banca, con activos de aproximadamente $187 mil millones a partir del 30 de junio de 2024. La compañía opera bajo el nombre de KeyBank National Association, atendiendo a individuos y empresas en 15 estados a través de una red de aproximadamente 1,000 sucursales y 1,200 cajeros automáticos. KeyCorp también ofrece servicios de banca corporativa y de inversión bajo la marca KeyBanc Capital Markets.
KeyCorp (NYSE: KEY)와 그 은행 계열사는 기본 대출 금리의 인하를 발표했습니다. 이는 8.50%에서 8.00%으로 인하되며, 2024년 9월 19일부터 시행됩니다. 이 결정은 금융 시장의 변화를 반영하며, 기본 금리에 연동된 다양한 대출 상품에 영향을 미칠 수 있습니다. 클리블랜드, 오하이오에 본사를 둔 KeyCorp는 2024년 6월 30일 기준 약 1,870억 달러의 자산을 보유한 주요 은행 기반 금융 서비스 회사입니다. 이 회사는 KeyBank National Association이라는 이름으로 운영되며, 약 1,000개의 지점과 1,200개의 ATM 네트워크를 통해 15개 주의 개인과 기업에 서비스를 제공합니다. KeyCorp는 또한 KeyBanc Capital Markets 브랜드 아래 기업 및 투자 은행 서비스를 제공합니다.
KeyCorp (NYSE: KEY) et ses sociétés bancaires affiliées ont annoncé une réduction de leur taux d'intérêt de référence de 8,50 % à 8,00 %, applicable à partir du 19 septembre 2024. Cette décision reflète les changements sur le marché financier et pourrait avoir un impact sur divers produits de prêt liés au taux de référence. KeyCorp, dont le siège est à Cleveland, dans l'Ohio, est une grande entreprise de services financiers basée sur la banque, avec des actifs d'environ 187 milliards de dollars au 30 juin 2024. L'entreprise opère sous le nom de KeyBank National Association, servant des particuliers et des entreprises dans 15 États grâce à un réseau d'environ 1 000 agences et 1 200 distributeurs automatiques de billets. KeyCorp propose également des services de banque d'entreprise et d'investissement sous la marque KeyBanc Capital Markets.
KeyCorp (NYSE: KEY) und ihre Bankaffiliates haben eine Senkung ihres Basiszinssatzes von 8,50 % auf 8,00 % bekannt gegeben, die am 19. September 2024 in Kraft tritt. Diese Entscheidung spiegelt Veränderungen auf dem Finanzmarkt wider und könnte verschiedene Kreditprodukte betreffen, die an den Basiszinssatz gekoppelt sind. KeyCorp hat seinen Hauptsitz in Cleveland, Ohio, und ist ein bedeutendes bankbasiertes Finanzdienstleistungsunternehmen mit einem Vermögen von etwa 187 Milliarden US-Dollar zum 30. Juni 2024. Das Unternehmen tritt unter dem Namen KeyBank National Association auf und bedient Privatpersonen und Unternehmen in 15 Bundesstaaten über ein Netzwerk von etwa 1.000 Filialen und 1.200 Geldautomaten. KeyCorp bietet auch Unternehmens- und Investmentbanking-Dienstleistungen unter der Marke KeyBanc Capital Markets an.
- Reduction in prime lending rate could attract more borrowers
- Extensive network of 1,000 branches and 1,200 ATMs across 15 states
- Diversified services including retail banking and corporate investment banking
- Lower prime rate may reduce interest income on variable-rate loans
- Potential pressure on net interest margin due to rate reduction
Insights
KeyCorp's decision to lower its prime lending rate by
For investors, this rate cut has dual implications. On one hand, it could potentially stimulate loan demand, particularly in KeyCorp's commercial and consumer lending segments, as borrowing becomes more affordable. This could drive revenue growth in the short term. However, the lower rate may also compress net interest margins, potentially impacting profitability if not offset by increased loan volume or operational efficiencies.
With assets of
KeyCorp's prime rate reduction to
The timing of this rate cut, effective September 19, 2024, suggests KeyCorp is positioning itself strategically for the final quarter of the fiscal year. This could be a proactive measure to boost loan originations and market share in a potentially slowing economic environment. Investors should watch for similar actions from KeyCorp's competitors and analyze the impact on the bank's loan portfolio growth and market share in its 15-state operational footprint.
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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