TORONTO – Scotiabank says its stake in U.S. bank KeyCorp is expected to add $82 million in net income for its third quarter.
The Canadian bank says the amount represents its share of KeyCorp’s second-quarter net income.
Adjusting for about $8 million in amortization of acquired intangible assets, Scotiabank says the adjusted net income contribution from KeyCorp will be about $90 million.
Scotiabank is expected to release its third-quarter results on Aug. 25.
It bought a stake in KeyCorp in 2024 in a bid to grow its foothold in the U.S. market.
KeyCorp has about 950 branches across 15 states.
This report by The Canadian Press was first published July 22, 2026.
Companies in this story: (TSX:BNS)
