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Scotiabank Expects C$82 Million Contribution From KeyCorp Stake to 3Q Profit

Provided by Dow Jones Jul 22, 2026, 6:03:00 PM

By Adriano Marchese

Bank of Nova Scotia expects its investment in KeyCorp will contribute about 82 million Canadian dollars ($58.1 million) to net income in the fiscal third quarter.

The Canadian financial institution said Wednesday the figure is net of the bank's associated funding costs and is reported on a one-month lag.

Adjusting for the amortization of acquired intangible assets of about C$8 million, Scotiabank said the adjusted net-income contribution will be roughly C$90 million.

In 2024, Scotiabank finalized a $2.8 billion investment in KeyCorp that saw it grab an almost-15% stake in the U.S. regional lender as part of an effort to expand its reach and gain exposure to retail banking in the country.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

July 22, 2026 09:03 ET (13:03 GMT)

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