KeyBank 2008 Annual Report Download - page 10

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8 • Key 2008
In a year when headlines focused on a deepening reces-
sion, a struggling global economy and massive change to the
financial services industry, Key Community Banking (KCB)
quietly made some news of its own.
Key’s 14-state community banking operations, which now
feature nearly 1,000 branches from Maine to Alaska, achieved
solid results across its diverse network.
Average loans and leases grew by 7 percent for the year, or
$1.8 billion, while deposits increased 8 percent, or $3.6 billion.
Net income for the year was $345 million. Underscoring the
breadth and strength of Key’s geographic footprint is the
fact that about two-thirds of loans and deposits now reside
outside the Midwest, where Key is headquartered.
Those results also helped KeyCorp maintain strong capital
and financial strength during a time of unprecedented market
volatility, and provided a platform to reinforce the company’s
strength and stability to clients and prospects.
KCB further enhanced its competitive position in 2008,
adding new branches, updating others, and launching new
client-friendly technology, known as Teller21, part of a
multi-year plan. In March, BusinessWeek named KeyBank
one of its top 25 “Customer Service Champs” for 2009
(see inset). The rankings were largely based on data compiled
by J.D. Power & Associates, a leading global marketing
Relationship Strategy
STRENGTHENS KEY COMMUNITY BANKING
STRONG, STEADY, READY— District President Brian Rice (front, center) and his team are poised for continued success in Oregon.
Backing up Brian are: (left to right) John Nolting, Retail Leader; Tom Elmer, District Credit Officer; Dave Sorenson, Business Banking
Leader; Steve Maxwell, Commercial Banking Leader; and Katharine Coakley, Key Private Bank Leader.