Company: KEY-PI
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000091576-25-000038
Chunk: 231

Company: KEYCORP /NEW/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 231
---
 1.6%, from the prior year, primarily due to increases in incentive compensation and other personnel expenses, partially offset by decreases in FDIC special assessment charges and operating lease expenses

62

Financial Condition

Loans and loans held for sale

Figure 7. Breakdown of Loans as of December 31, 2024

(a)Other consumer loans include Consumer loans and Credit cards. See Note 4 (“Loan Portfolio”) Item 8. Financial Statements of this report.  

Figure 8 shows the composition of our loan portfolio at December 31 for each of the past two years.

Figure 8. Composition of Loans

 20242023December 31,Dollars in millionsAmountPercent  of TotalAmountPercent  of TotalCOMMERCIALCommercial and industrial (a)$52,909 50.7 %$55,815 49.6 %Commercial real estate:Commercial mortgage13,310 12.8 15,187 13.5 Construction2,936 2.8 3,066 2.7 Total commercial real estate loans16,246 15.6 18,253 16.2 Commercial lease financing (b)2,736 2.6 3,523 3.1 Total commercial loans71,891 68.9 77,591 68.9 CONSUMERReal estate — residential mortgage19,886 19.1 20,958 18.6 Home equity loans6,358 6.1 7,139 6.4 Other consumer loans5,167 5.0 5,916 5.2 Credit cards958 0.9 1,002 0.9 Total consumer loans32,369 31.1 35,015 31.1 Total loans (c)$104,260 100.0 %$112,606 100.0 %

(a)Loan balances include $212 million and $207 million, of commercial credit card balances at December 31, 2024, and December 31, 2023, respectively.

(b)Commercial lease financing includes receivables held as collateral for a secured borrowing of $3 million and $7 million  at December 31, 2024, and December 31, 2023, respectively. Principal reductions are based on the cash payments received from these related receivables. Additional information pertaining to this secured borrowing is