Ally Financial Net Drops 18% on Higher Loss Provisions and Non-Interest Expenses
- Apr 14, 2022
- Scott Peters
Ally Financial said first quarter revenues rose 23% to $1.69 billion and net income fell 18% to $627 million from a year ago. Earnings per share declined 11% to $1.86 from $2.11. Net interest margin in the quarter increased 77 basis points to 3.93% Credit loss provision increased to $180 million from $167 million in the prior year period. Retail banking customer base increased to 2.5 million.