Q3 FY26 · Ended Sep 30, 2026 · View SEC filing
The spread widened on cheaper funding, not higher yields
Interest earned barely moved, but interest paid on deposits fell to $634M from $748M, so cheaper funding drove the gain.
For investorsWhat has to hold for the spread to keep widening?
For foundersOriginate, place, keep the servicing
Key arranges loans for agencies and other investors and keeps the servicing, earning fees without holding most of those loans itself.
Revenue rose 8.38% against expenses up 5.78%, and a smaller credit provision added to the gain.
Average deposits exceed average loans, so Key lends mostly from customer money rather than borrowing in markets.
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Business Lens describes KeyCorp from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
