Scotiabank says stake in KeyCorp will add $82M to third-quarter net income

Jonathan Goldman, diversified industrials analyst at Scotiabank, joins BNN Bloomberg to discuss 5N Plus long-term opportunities.

TORONTO — Scotiabank says its stake in U.S. bank KeyCorp is expected to add $82 million in net income for its third quarter.

The Canadian bank says the amount represents its share of KeyCorp’s second-quarter net income.

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Adjusting for about $8 million in amortization of acquired intangible assets, Scotiabank says the adjusted net income contribution from KeyCorp will be about $90 million.

Scotiabank is expected to release its third-quarter results on Aug. 25.

It bought a stake in KeyCorp in 2024 in a bid to grow its foothold in the U.S. market.

KeyCorp has about 950 branches across 15 states.

This report by The Canadian Press was first published July 22, 2026.