10:45 AM EDT, 04/28/2025 (MT Newswires) -- Scotiabank (BNS.TO, BNS) was modestly higher Monday after saying it expects net income contribution from its ownership interest in KeyCorp to be near $62 million in the second quarter.

Scotiabank -- which in late Dec. 2024 closed its two-part deal to buy a 14.9% stake KeyCorp for about US$2.8 billion -- said this contribution represents the bank's share of KeyCorp's Q1 net income, includes acquisition-related and other accounting impacts, and is net of the Bank's associated funding costs and is reported on a one-month lag.

The company said after adjusting for the amortization of acquired intangible assets of about $9 million, the bank's adjusted net income contribution from KeyCorp will be about $71 million.

Shares of the company were last seen up $0.24 at $67.89 on the Toronto Stock Exchange.

Price: 67.89, Change: +0.24, Percent Change: +0.35