KeyCorp's commercial banking division has seen significant growth across various metrics from 2019 to 2025. Total revenue has increased from $36.4 billion to $58.1 billion, representing a 60% growth. Additionally, total average deposits have surged by 37% during the same period, reaching $18.3 billion in 2025.
The middle market commercial payments have also experienced substantial growth, with revenue increasing by 57% to reach $1.04 billion in 2025. The average return on equity (ROE) across the middle market business has also shown positive momentum.
KeyCorp has demonstrated a strong national middle market presence, with a 9% increase in 11 of the top 20 Metropolitan Statistical Areas (MSAs) by 2025. The company has also achieved a 54% increase in clients with no commercial or institutional presence, indicating a growing market share.
Moreover, the company's fintech partnerships have played a crucial role in its growth, as evidenced by the 90% payments penetration of middle market clients and the significant growth in embedded banking revenue and fees in 2025.
Looking ahead, KeyCorp has outlined several growth strategies, including a target of ~10% growth in bankers' deposit growth, double-digit improvements in banker productivity, and a high single-digit to low double-digit growth in commercial payments fees. The company also aims to drive scalability and productivity while investing in strategic areas to scale the business.
As a result of these announcements, the company's shares have moved -0.28% on the market, and are now trading at a price of $21.17. For more information, read the company's full 8-K submission here.
