KeyCorp's Q1 2023 earnings fall short of expectations.

KeyCorp missed profit expectations for Q1 2019 due to higher provisions set aside to cover bad loans, despite gains from interest income. Average deposits fell 1.6% to $143.4 billion, while credit loss provisions increased to $139 million from $83 million a year ago. The recent banking crisis has prompted regional lenders to be overly cautious. KeyCorp's net interest income for the quarter jumped 8.4% to $1.1 billion, compared with $1 billion a year earlier.