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BRIEF-KeyCorp reports Q1 2017 net income of $296 mln
April 20, 2017 / 10:51 AM / in 3 months

BRIEF-KeyCorp reports Q1 2017 net income of $296 mln

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April 20 (Reuters) - KeyCorp

* KeyCorp reports first quarter 2017 net income of $296 million, or $.27 per common share; earnings per common share of $.32, excluding $.05 of merger-related charges

* Q1 earnings per share $0.32 excluding items

* Q1 earnings per share view $0.28 -- Thomson Reuters I/B/E/S

* KeyCorp - Expect to achieve $450 million in acquisition cost savings by early 2018

* KeyCorp - Qtrly taxable equivalent net interest income $929 million versus $612 million

* Q1 net loan charge-offs $58 million versus $46 million

* KeyCorp - Qtrly common equity tier 1 ratio 9.87 percent versus 9.54 percent in Q4

* Q1 allowance for loan and lease losses $870 million versus $826 million

* KeyCorp - Qtrly tier 1 risk-based capital ratio 10.70 percent versus 10.89 percent in Q4

* Remain on track to achieve initial $400 million cost savings target by end of Q2

* Q1 earnings per share $0.27 from continuing operations Source text for Eikon: Further company coverage:

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