TORONTO — Scotiabank says its stake in U.S. bank KeyCorp is expected to add about $77 million to its net income for its second quarter.
The Canadian bank says the contribution represents its share of KeyCorp’s first-quarter net income.
Adjusting for the amortization of acquired intangible assets, Scotiabank says its KeyCorp stake is expected to add about $85 million to its adjusted net income.
Scotiabank bought a stake in KeyCorp in 2024 in a bid to grow its foothold in the U.S. market.
KeyCorp has a network of about 950 branches across 15 states.
Scotiabank is expected to report its full second-quarter results on May 27.
This report by The Canadian Press was first published April 17, 2026.
