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Keys to Banking Success

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    Keycorp CEO Beth Mooney on the bank’s third-quarter earnings results and outlook for growth.

  • Duration 3:30
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-- releasing a third quarter earnings ahead of the bell today beating street estimates on both the top and the bottom line as a stock.

Is rising look at today while everybody else is getting help -- -- tell -- -- was happening with Google this stock jumped 4%.

Plus.

So what's behind the better than expected report and how is this company looking forward to joining us now with an explosive inside look.

Beth Mooney -- -- chairman CEO and president nice to see you can get that is what you and Cleveland but.

You know looking at this third quarter report -- I'm sort of more interested in the aggregate the bigger picture for KeyCorp is the nation's seventh largest bank.

That's -- we also heard today that that you know mortgage rates were dropping once again what will that do for your business.

-- -- list that's a good question the strength of our quarter was really based on.

Of our ability to grow revenue from our lending activities as well as our mix of loans and deposits were far more robust and we expanded net interest income.

Mortgage rates are going to not be as -- -- driver for KeyCorp we are much more commercial and middle market and small business wonder.

And so we are really getting most of our growth out of our business clients more than we are in our mortgage.

Client base.

Now you that you just re entered the credit card business and add a lot of people have been complaining that you know.

-- it's not what we were hoping it was what's your experience with credit cards right now.

Credit card for us was we just recently -- -- credit card by acquiring.

Our own client base 725.

Million dollars of key clients and credit cards to us it was an opportunity to expand our product offering.

Bringing those important clients back in the house and making sure we could get both attractive client economics.

Expand our product offering as well as control -- client experience we're real excited at the opportunity to -- credit.

I'm -- facts I -- press is it too early to tell whether it's it's meeting expectations are not.

Too early to tell but this is a portfolio of our own clients of these are.

Accounts and their behavior and spending patterns or something were relatively picked -- familiar with but it's.

Too early to tell what it looks like -- that's on our balance sheet you know I -- we find it interesting that you talk about how it's really sort of enterprise in the business and the customer that comes from the business world.

What are you hearing from them what's it like out there right now for the business world.

There's that a lot of talk about that in this week's earnings -- -- various banks because they're clearly as a sentiment of caution.

Among businesses right now the fiscal -- the debt ceiling.

The terms of the election what will happen with taxes so we are hearing that caution and that sentiment of concern from our business clients.

But on the other hand they will make the move to acquire property plant and equipment sometimes do mergers but they do with caution that they need to have real strong economic reasons.

The part of the reason we're seeing growth is we're also acquiring marketshare that's part of our top line growth.

You may be moving away from the -- visit but -- still very active in standing with Fannie Mae Freddie Mac what do you think of those two companies of some people say they just need to be broken up and.

Sold off.

Well I think there is that a lot of dialogue and debate among the of the pundits as well as in Washington -- to do.

And I think there's a lot of bright minds so we'll look at how we should approach GSE reform.

We are actually a -- as you said about three quarters of our mortgage production we do sell.

And about we keep about a quarter on our balance sheet.

Beth -- congratulations -- great great reporting today KeyCorp chairman CEO and prisons brought this up but 23%.

Europe per year for ticker symbol.

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