Reported about 6 hours ago
Ally Financial Inc. experienced a significant increase in fourth-quarter earnings, driven by a favorable net interest margin, decreased expenses, and lower loan-loss provisions. The company's net income rose 74% to $108 million, surpassing analyst expectations, while shares soared as much as 11%. Despite challenges in credit quality and rising charge-offs in its auto loans, CEO Michael Rhodes expressed optimism for 2025, highlighting a solid financial outlook and cost-cutting measures.
Source: YAHOO