Scotiabank says KeyCorp stake will add $74M to its fourth-quarter results
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TORONTO – Scotiabank says it expects its investment in U.S. bank KeyCorp will contribute about C$74 million to its net income for the fourth quarter.
The Canadian bank says KeyCorp’s contribution to its adjusted net income will be about C$82 million after adjusting for the amortization of acquired intangible assets.
Scotiabank bought a 14.9 per cent stake in KeyCorp in 2024 in a bid to grow its foothold in the U.S. market.
KeyCorp reported Thursday net income from continuing operations attributable to shareholders of US$454 million or 41 cents US per diluted common share.
The U.S. bank operates in 15 states and has a network of roughly 1,000 branches.
Scotiabank expects to release its fourth-quarter financial results on Dec. 2.
This report by The Canadian Press was first published Oct. 17, 2025.
Companies in this story: (TSX:BNS)