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Jun 30, 2024
Ally Q2 2024 Earnings Report
Ally delivered strong financial and operating results, demonstrating improvement in net interest margin and earnings after a trough in Q1 2024.
Key Takeaways
Ally Financial reported a net income attributable to common shareholders of $266 million for Q2 2024. The company saw a quarter-over-quarter increase in net interest margin and earnings. They decisioned 3.7 million consumer applications, a second quarter record, and originated nearly $10 billion retail loan and lease volume across the credit spectrum.
Net interest margin ex. OID increased by 14 bps quarter over quarter to 3.30% as deposit costs stabilized.
Common equity tier 1 ratio increased by 18 bps quarter over quarter to 9.6%; the company executed its first credit risk transfer transaction in Q2.
Consumer auto applications reached 3.7 million with $9.8 billion in consumer auto origination volume.
Insurance written premiums increased by 15% year over year to $344 million, driven by momentum in P&C and F&I.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
No specific forward guidance was provided in the earnings release.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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