PITTSBURGH — KeyCorp’s top executive anticipates business lending to take off in the second half of 2021.
“The consumer is spending,” Chris Gorman, chairman and CEO, told financial analysts during the Cleveland-based bank’s first-quarter 2021 earnings call on Tuesday. “What we’re not seeing is investment in people, property, plant and equipment.”
Key (NYSE:KEY) reported first-quarter 2021 net income attributable to common shareholders of $591 million, or $0.61 per diluted common share, compared to $118 million, or $0.12, last year. Average loans were $100.7 billion, an increase of $4.6 billion compared to the first quarter of 2020, but down 1% from the fourth quarter of 2020.
Read more from our news partners at the Pittsburgh Business Times.
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