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35
MANAGEMENT’S DISCUSSION & ANALYSIS OF FINANCIAL CONDITION & RESULTS OF OPERATIONS KEYCORP AND SUBSIDIARIES
Compound Annual
Rate of Change
2005 2004 2003 (2003-2008)
Average Yield/ Average Yield/ Average Yield/ Average
Balance Interest Rate Balance Interest Rate Balance Interest Rate Balance Interest
$19,480 $1,083 5.56% $17,119 $ 762 4.45% $16,467 $ 794 4.82% 9.9% 12.7%
8,403 531 6.32 7,032 354 5.03 6,571 343 5.22 10.0 13.3
6,263 418 6.67 4,926 250 5.08 5,333 274 5.14 8.7 11.0
10,122 628 6.21 8,269 487 5.90 7,457 446 5.99 5.3 N/M
44,268 2,660 6.01 37,346 1,853 4.96 35,828 1,857 5.18 8.8 2.7
1,468 90 6.10 1,563 94 6.01 1,802 117 6.47 1.2 —
10,381 641 6.18 10,212 506 4.96 9,445 474 5.02 .8 3.5
713 46 6.52 1,691 119 7.00 2,591 182 7.01 (14.7) (13.1)
11,094 687 6.20 11,903 625 5.25 12,036 656 5.46 (1.8) (.1)
1,834 158 8.60 2,048 154 7.52 2,135 157 7.36 (9.8) (3.7)
2,512 152 6.07 2,516 156 6.18 2,157 147 6.81 10.7 9.0
389 27 6.93 376 22 5.72 — — — N/M N/M
432 38 8.68 2,474 233 9.44 3,428 328 9.56 (38.0) (39.8)
3,333 217 6.51 5,366 411 7.66 5,585 475 8.50 3.8 (2.3)
17,729 1,152 6.50 20,880 1,284 6.15 21,558 1,405 6.52 (.6) (1.2)
61,997 3,812 6.15 58,226 3,137 5.39 57,386 3,262 5.69 5.7 1.1
3,637 254 6.99 2,509 114 4.55 2,447 112 4.60 (.5) 5.4
7,118 327 4.58 7,214 327 4.55 7,854 355 4.54 1.2 4.5
76 5 7.30 85 8 8.69 112 11 9.03 (24.8) (18.3)
933 27 2.90 1,222 22 1.77 926 17 1.80 6.7 26.9
927 25 2.68 962 13 1.29 669 8 1.24 19.3 31.1
1,379 54 3.79 1,257 35 2.77 1,023 27 2.62 8.8 13.6
76,067 4,504 5.92 71,475 3,656 5.11 70,417 3,792 5.39 5.2 1.9
(1,103) (1,276) (1,401) .5
12,945 13,090 12,517 3.7
$87,909 $83,289 $81,533 5.1
$22,696 360 1.59 $20,175 147 .73 $17,913 149 .83 8.1 23.4
1,941 5 .26 2,007 5 .23 2,072 10 .50 (2.8) (9.7)
4,957 189 3.82 4,834 178 3.71 4,796 186 3.93 14.4 16.4
10,789 341 3.16 10,564 304 2.88 11,330 336 2.96 3.3 10.6
2,662 81 3.06 1,438 6 .40 1,885 22 1.13 13.2 29.8
43,045 976 2.27 39,018 640 1.64 37,996 703 1.85 7.4 15.9
2,577 71 2.74 3,129 22 .71 4,739 50 1.06 (9.7) 2.7
2,796 82 2.94 2,631 42 1.59 2,612 60 2.29 17.9 16.9
14,094 598 4.32 14,304 402 2.93 13,287 352 2.76 1.6 9.9
62,512 1,727 2.77 59,082 1,106 1.89 58,634 1,165 2.01 5.8 13.8
12,001 11,172 10,347 .8
6,073 6,098 5,649 4.8
7,323 6,937 6,903 5.3
$87,909 $83,289 $81,533 5.1
3.15% 3.22% 3.38%
2,777 3.65% 2,550 3.62% 2,627 3.73% (5.7)%
121 94 71 N/M
$2,656 $2,456 $2,556 (1.2)%
— — — — $629 $36 (100.0)% (100.0)%