Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
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Over the 2021–2024 period KeyCorp’s total assets were broadly stable, rising modestly from $186.3B in 2021 to a peak of $189.8B in 2022 (+1.9%) before edging down to $187.2B by 2024. Liabilities, however, moved more noticeably: they jumped from $168.9B in 2021 to $176.4B in 2022 (+4.4%), then retraced over the next two years to $169.0B in 2024. The net result was a mild balance-sheet contraction after 2022 and a rebalancing of funding sources rather than large changes in total asset size. Stockholders’ equity fell sharply in 2022 (from $17.4B to $13.5B, a ~22.8% decline), which drove the company’s equity-to-assets ratio from about 9.3% in 2021 down to roughly 7.1% in 2022. Equity then recovered to $18.2B by 2024, lifting the equity-to-assets ratio back to about 9.7%. Put another way, leverage (liabilities-to-equity) spiked in 2022 and normalized by 2024. The 2022 deterioration in capital could reflect earnings pressure, reserve or loss recognition, or capital distributions; the 2023–24 improvement suggests either retained earnings, capital-raising or liability reduction. Note the 2025 row contains zeros (no data) so trends beyond 2024 cannot be assessed. Overall, KeyCorp shows a short-lived capital strain in 2022 followed by a stabilization and modest strengthening of its capital position by 2024—an outcome consistent with a bank that tightened funding and rebuilt equity after a stress period.
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