A hefty investment from ScotiaBank has allowed KeyBank to ditch dead weight on its balance sheet, positioning Key to earn an additional $40 million per quarter, according to CEO Christopher Gorman.

CLEVELAND, Ohio — Canadian Scotiabank will buy $2.8 billion worth of KeyCorp stock from the company, giving it close to a 15% stake in KeyBank’s parent.

Scotiabank has agreed to take a 14.9% stake in KeyCorp for roughly $2.8 billion, the Cleveland-based bank announced Monday. The Canadian lender will purchase about 163 million shares of KeyCorp ...

Scotiabank announced that it has agreed to take a 14.9 percent stake in the Cleveland-based KeyCorp for roughly $2.8 billion. ... A KeyBank spokesperson declined to comment Thursday.

KeyBank (NYSE:KEY) is among today’s biggest movers, with KEY stock surging by as much as 14% this morning. This is in response to news that Canadian lender Bank of Nova Scotia (NYSE:BNS), also ...

KeyBank's chairman and CEO sees a more-favorable climate emerging for business consolidations. Skip to main content Skip to main content ... Scotiabank investment: Scotiabank, ...

While Scotiabank will soon own 14.9% of KeyCorp, ... KeyBank is also using some of the capital to strengthen its balance sheet, in a move that will boost its earnings potential.

KeyBank, based in Cleveland, ... KeyBank is poised for overall growth through Scotiabank’s $2.8 billion investment in the bank’s holding company, KeyCorp.