Company: KEY-PI
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000091576-25-000038
Chunk: 232

Company: KEYCORP /NEW/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 232
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 included in Note 20 (“Long-Term Debt”).

(c)Total loans exclude loans of $257 million at December 31, 2024, and $339 million at December 31, 2023, related to the discontinued operations of the education lending business.

63

At December 31, 2024, total loans outstanding from continuing operations were $104.3 billion, compared to $112.6 billion at the end of 2023. For more information on balance sheet carrying value, see Note 1 (“Summary of Significant Accounting Policies”) under the headings “Loans” and “Loans Held for Sale.”

Commercial loan portfolio

Commercial loans outstanding were $71.9 billion at December 31, 2024, a decrease of $5.7 billion, or 7.3%, compared to December 31, 2023, primarily reflecting declines in commercial and industrial loans and commercial mortgage real estate loans.

Figure 9 provides our commercial loan portfolio by industry classification as of December 31, 2024, and December 31, 2023.

Figure 9. Commercial Loans by Industry

December 31, 2024Commercial and industrialCommercialreal estateCommerciallease financingTotal commercialloansPercent oftotalDollars in millionsIndustry classification: Agriculture $875 $99 $80 $1,054 1.5 % Automotive 2,173 673 2 2,848 4.0  Business services 2,899 262 81 3,242 4.5  Commercial real estate 7,799 11,909 3 19,711 27.4  Construction materials and contractors1,839 258 203 2,300 3.2  Consumer goods3,556 533 190 4,279 5.9  Consumer services 4,127 616 328 5,071 7.1  Equipment 1,740 159 137 2,036 2.8  Finance 10,103 99 209 10,411 14.5  Healthcare 2,707 1,204 210 4,121 5.7  Materials and extraction2,135 196 134 2,465 3.4  Oil and gas 1,950 28 10 1,988 2.8