KeyCorp (NYSE: KEY) and its banking affiliates have raised their prime lending rate to 5.5 percent from 4.75 percent, effective tomorrow, July 28, 2022.
Thank you for joining us for KeyCorp second quarter 2022 earnings conference call. Joining me on the call today are Don Kimble, our chief financial officer; Clark Khayat, our chief strategy officer; and Mark Midkiff, our chief risk officer. Pre-provision net revenue was up 14% from the first quarter, with a 6% increase in revenue and relatively stable expenses.
An increase in NII and loan growth supports KeyCorp's (KEY) Q2 earnings despite headwinds like modestly higher expenses, fall in fee income and rise in provisions.