Q1 2009 Earning Report of Key Corp

- KeyCorp reported a net loss of $488 million or $1.09 per share for Q1 2009, compared to net income of $218 million or $0.54 per share for Q1 2008. The loss was primarily due to an increase in loan loss provisions and an impairment charge for intangible assets. - The loan loss provision increased to $875 million for Q1 2009, exceeding net charge-offs by $383 million. The allowance for loan losses increased to $2.186 billion or 2.97% of total loans. - A non-cash impairment charge of $187 million was recorded for the National Banking reporting unit due to continued weakness in financial markets. This did not