The company’s net income rose from $454 million a year ago, comfortably exceeding the 46 cents per share predicted by FactSet analysts. Total revenue hit $2.04 billion, meeting market forecasts and marking a significant climb from the $1.89 billion reported in the same period last year.

Driving these gains, investment banking and debt placement fees surged to $214 million from $184 million. At the same time, the bank saw its net interest income grow 9.6% to $1.31 billion, supported by an expansion in net interest margin to 2.95%. Financial health also appeared to stabilize, with net loan charge-offs dropping to $89 million. Reflecting this improved outlook, KeyCorp slashed its provision for credit losses by 43%, setting aside $61 million to cover potentially risky loans compared to the higher reserves maintained previously.