Scotiabank says KeyCorp stake will add $74M to its fourth-quarter results

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.

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The Canadian Press