Restructuring Efforts, Lower Rates to Boost KEY Amid Asset Quality Woes

Balance sheet repositioning, minority equity stake, decent loan demand and lower rates are expected to support KeyCorp (KEY) . Meanwhile, elevated expenses and weak asset quality are major near-term concerns. Minority Equity Stake, Balance Sheet Repositioning to Aid KEY On Aug. 12, KeyCorp announced a minority equity investment of $2.8 billion (in aggregate) by Canada's The Bank of Nova Scotia (BNS) (also known as Scotiabank) in two tranches at a fixed price of$17.17 per share. The first phase was complete ...