JOURNAL ARTICLE

Scotiabank Seeks to Increase Stake in KeyCorp Amid Buybacks.

  • Published In: Bloomberg.com, 2026. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Wang, Yizhu 3 of 3

Abstract

The article focuses on Bank of Nova Scotia’s (Scotiabank) intention to increase its ownership stake in Cleveland-based KeyCorp from 14.99% to as much as 19.99%, as disclosed in a regulatory filing. This increase involves acquiring additional voting shares of KeyCorp and its banking unit, KeyBank National Association, but does not alter the existing relationship or subject KeyCorp to new regulations. The move follows KeyCorp’s announcement of a $1 billion share-repurchase program, which could indirectly raise Scotiabank’s stake without additional capital outlay. The initial agreement between the two companies was established in August 2024, with Scotiabank investing approximately $2.8 billion for a 14.9% stake amid efforts by U.S. regional banks to strengthen capital after 2023’s regional-bank failures. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2026/03, pN.PAG
  • Document Type:Article
  • Subject Area:Business and Management
  • Publication Date:2026
  • Accession Number:192432013
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