Company: KEY-PI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001628280-25-048757
Chunk: 24

Company: KEYCORP /NEW/
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 2
Chunk 24
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Financial Condition

Loans and loans held for sale

Figure 7. Breakdown of Loans at September 30, 2025

(a)See Note 3 (“Loan Portfolio”) in Item 1. Financial Statements of this report.  

At September 30, 2025, total loans outstanding from continuing operations were $105.9 billion, compared to $104.3 billion at December 31, 2024. 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” starting on page 110 of our 2024 Form 10-K.

Commercial loan portfolio

Commercial loans outstanding were $75.3 billion at September 30, 2025, an increase of $3.4 billion, or 4.8%, compared to December 31, 2024, primarily driven by increases in commercial and industrial loans.

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Figure 8 provides our commercial loan portfolios by industry classification at September 30, 2025, and December 31, 2024.

Key conducts an annual review of the Commercial Industry hierarchy to ensure alignment of correlated client types with business strategies and ensure classification in accordance with the North American Industry Classification System (NAICS). This resulted in the renaming of certain industry categories and a modest reclassification of loan balances between industry categories in the third quarter of 2025. Accordingly, to enhance consistency and comparability across reporting periods, amounts and categories presented below for December 31, 2024, have been updated from those previously disclosed.

Figure 8. Commercial Loans by Industry

September 30, 2025Commercial and industrialCommercialreal estateCommerciallease financingTotal commercialloansPercent oftotalDollars in millionsIndustry classification: Agriculture $878 $98 $76 $1,052 1.4 % Automotive 2,369 615 1 2,985 4.0  Business services 3,003 224 89 3,316 4.4  Commercial real estate 8,150 11,975 1 20,126 26.7  Construction materials and contractors2,026 243 166 2,435 3.3  Consumer goods3,859 507 220 4,586 6.1  Consumer services 4,262 692 264