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KeyBank earns top financial strength rating
10/26/12 - Plenty of banks tout their financial strength and stability. With KeyBank, you don’t have to just take our word for it.
Recently, KeyBank ranked at the top of major banks when it comes to the critical measure of financial strength, according to respected Bauer Financial of Florida.
Key is one of only two of the nation’s largest 25 banks with the highest financial strength rating. Specifically, Key received a 5-star or "Superior" rating.
"This is great news for our clients and our shareholders," said CEO Beth Mooney. "Our financial strength puts us in a great position to fulfill our purpose of helping our clients and communities thrive."
Bauer conducts the analysis every quarter for all of the nation's more than 7,000 banks. The research company compiles the ratings after analyzing factors that demonstrate the bank's strength, including profits, assets and cash on hand. It recommends doing business with banks with four or five stars.
Key jumped three rating levels in the past two years in Bauer's ratings model, which measures banks on a five-star rating scale. In addition to the capital ratio, other criteria used to determine the ratings include profitability/loss trend, the level of delinquent loans, charge-offs and repossessed assets, regulatory supervisory agreements, the community reinvestment rating (CRA), historical data and liquidity.
"Clients want to feel confident that their bank is strong and stable, and this ranking affirms that KeyBank has the financial strength to meet their needs regardless of economic conditions," Mooney said. "We are well positioned to achieve our purpose of helping our clients and communities thrive."