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® KEYCORP REPORTS RECORD FIRST QUARTER 2021 NET INCOME OF $ 591 MILLION , OR $ .61 PER DILUTED COMMON SHARE Positive operating leverage compared to the year - ago quarter Record first quarter revenue , up 19 % from year - ago quarter , driven by broad - based strength in fees Strong credit quality : nonperforming loans and net charge - offs down from prior quarter Returned capital to shareholders : repurchased $ 135 million in common shares Successful launch of Laurel Road for Doctors : expands digital reach nationally for medical professionals CLEVELAND , April 20 , 2021 - KeyCorp ( NYSE : KEY ) today announced net income from continuing operations attributable to Key common shareholders of $ 591 million , or $ .61 per diluted common share for the first quarter of 2021. This compared to $ 549 million , or $ .56 per diluted common share , for the fourth quarter of 2020 and $ 118 million , or $ .12 per diluted common share , for the first quarter of 2020 . This was a strong start to the year for Key as we executed our strategy , grew and expanded client relationships , and delivered positive operating leverage . Our results reflect strong credit quality as well as record first quarter revenues , with strength in our investment banking business and ongoing momentum from our consumer growth engines . We have continued to make investments in our business to position the company for success . In March , we successfully launched Laurel Road for Doctors , a digital platform tailored to the unique financial needs of healthcare professionals . Additionally , this platform expands our digital reach nationally , for this targeted client segment . Laurel Road for Doctors underscores our commitment to both targeted scale and digital transformation . Credit quality continued to be a strength this quarter . Our strong risk management practices contributed to broad - based improvement in our credit metrics . Maintaining our strong capital position also remains a priority . Our Common Equity Tier 1 ratio at the end of the first quarter was 9.8 % , which is above our targeted range of 9.0 % to 9.5 % . In January , our Board of Directors authorized a $ 900 million share repurchase program of which we executed $ 135 million in the first quarter . I remain optimistic about the future as we emerge from the pandemic and the economic recovery continues . Key is well - positioned to grow and deliver on our commitments to all of our stakeholders . - Chris Gorman , Chairman and CEO