Keycorp · NYSE:KEY
Keycorp — Barclays Global Financial Services Conference 2019
9 slides from Keycorp's conference presentation, Sep 9, 2019
Slide 1: Barclays Global Financial Services Conference
Barclays Global Financial Services Conference September 9, 2019 KeyCorp Beth E. Mooney Don Kimble Chairman and Vice Chairman and Chief Executive Officer Chief Financial Officer
Slide 2: Forward-Looking Statements and Additional Information
FORWARD-LOOKING STATEMENTS AND ADDITIONAL INFORMATION This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not limited to, KeyCorp’s expectations or predictions of future financial or business performance or
Slide 3: Key Overview
Key Overview Serving targeted clients by leveraging broad capabilities, insights and expertise Lending Commercial Mortgage Banking Deposits Investment Banking Financial Wellness Wealth & Investment Management Key Consumer Bank branches & Key Commercial Bank offices Payments Additional Key Commercial
Slide 4: Delivering Results
Delivering Results Continued Momentum Across the Franchise ✓ Achieved 6 consecutive years of positive operating leverage ✓ Achieved $200 million in targeted cost savings ✓ Grew consumer and commercial relationships ✓ Improved cash efficiency ratio: ~800 bps in 5 years ✓ Continued momentum in fee-bas
Slide 5: Expense Discipline Drives Efficiency & Growth
Expense Discipline Drives Efficiency & Growth Accelerated cost savings to improve efficiency while investing for growth 2019 Execution Cash Efficiency Ratio(a) 64% 60% 59% −5%, 54% - 56% $200mm expense reduction 2016 2017 2018 Target +2-3% Continuous Investing − Interest rate environment more challe
Slide 6: Positioned to Outperform
Positioned to Outperform Improving efficiency, managing risk, and increasing returns Strategic Priorities Targets Leveraging differentiated business model to grow the franchise Positive Operating Leverage Improving efficiency and returns across the organization Cash Efficiency Ratio: 54% - 56% Makin
Slide 7: Appendix
Appendix 7
Slide 8: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Three months ended $ in millions 6/30/2019 3/31/2019 6/30/2018 Notable Items Efficiency initiative expenses $ (50) $ (26) $ (22) Laurel Road acquisition expenses (2) - - Sale of insurance business (net) - - 73 Lease residual loss - - (42) Total notable items $ (52) $
Slide 9: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Three months ended 6/30/2019 3/31/2019 6/30/2018 $ in millions Average tangible common equity Average Key shareholders' equity (GAAP) $ 16,531 $ 15,702 $ 15,032 Less: Intangible assets (average) (a) 2,959 2,813 2,883 Preferred Stock (average) 1,762 1,450 1,025 Average
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