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Scotiabank seeks to increase KeyCorp stake
Scotiabank is looking to raise its ownership in KeyCorp from 14.99% to nearly 19.99% by acquiring more voting shares. This move follows KeyCorp’s announcement of a $1 billion share-repurchase program and does not signal a change in the relationship between the two banks. Scotiabank initially invested in KeyCorp in December 2024, acquiring approximately 14.9% of common stock for $2.8 billion, at a time when US regional banks were bolstering their capital.