Ally Bank Assets and Financial Institutions

Ally Bank is a subsidiary of Ally Financial, a leading digital financial services company. Ally Financial was originally founded as GMAC in 1919.

Ally Bank offers a range of financial products and services, including banking, lending, and investments.

Ally Bank is a direct bank, meaning it doesn't have physical branches.

Ally Bank has a substantial presence in the financial sector, with total assets of $191.8 billion.

Their total equity stands at $13.9 billion, indicating a moderate asset to equity ratio of 13.8x.

Ally Financial has a significant portion of its assets in the form of loans, totaling $132.3 billion.

The bank earns a Net Interest Margin of 3.3%, which is a crucial indicator of its profitability.

Cash and short-term investments account for $10.3 billion of Ally Financial's assets.

A substantial 85% of Ally's liabilities come from low-risk sources of funding, providing a stable foundation for the bank.

The Loans to Assets ratio is 69%, indicating an appropriate level of lending activity.

Ally Financial has an impressive 87% of its loans backed by low-risk deposits, further reducing its risk exposure.

The bank's allowance for bad loans is 1.1% of total loans, which is considered sufficient.

Total deposits at Ally Financial amount to $151.6 billion, providing a solid foundation for its lending activities.

Ally Financial has a strong financial foundation with total assets of $191.8B and total equity of $13.9B.

Its Asset to Equity ratio is moderate at 13.8x, indicating a balance between assets and equity.

The company has a sufficient allowance for bad loans, which are currently at 1.1% of total loans.

In 2010, GMAC re-branded itself as Ally Financial, marking a new chapter in the company's history.

Ally Financial sold its resort finance business to Centerbridge Partners in September 2010 for an undisclosed amount.

The company continued to expand its operations, selling its Canadian banking operations to Royal Bank of Canada for $3.8 billion in 2012.

In 2014, Ally Financial became a public company via an initial public offering, giving it access to a wider range of investment opportunities.

Ally Financial moved its headquarters to One Detroit Center in 2015, which was later renamed Ally Detroit Center.

The company acquired TradeKing, a stockbrokerage, in June 2016 for $275 million, rebranding it as Ally Invest.

Ally Home, the company's direct-to-consumer mortgage offering, was launched in May 2016, allowing customers to purchase and manage their mortgages online.

In 2019, Ally Home partnered with Better.com for mortgage loan selling, processing, mortgage underwriting, and closing services.

Here is a list of key events in Ally Financial's history from 2010-2019:

ALLY's Assets to Equity ratio is moderate at 13.8x. This indicates that the company has a relatively stable financial position.

The company has a sufficient allowance for bad loans, which is at 250% of total loans. This suggests that Ally Financial is well-prepared to handle potential loan defaults.

85% of Ally's liabilities are made up of low-risk sources of funding. This is a positive sign, indicating that the company is not overly reliant on high-risk funding sources.

ALLY's Loans to Assets ratio is 69%, which is an appropriate level. This suggests that the company is not over-leveraging itself with too many loans relative to its assets.

ALLY's Loans to Deposits ratio is 87%, which is also an appropriate level. This indicates that the company is not taking on too much debt relative to its deposits.

ALLY has an appropriate level of bad loans, which is at 1.1% of total loans. This suggests that the company is not experiencing excessive loan defaults.

General Motors is acquiring Ally Financial's assets in Europe, China, and Latin America for $4.25 billion. This deal will help GM build a global finance unit to make low-interest car loans and boost sales.

GM Financial, the auto giant's U.S. loan business, will pay $4.25 billion for the Ally assets. GM will give $2 billion to GM Financial to make the purchase.

The acquisition will help GM grow in countries with expanding middle classes, such as Brazil, Mexico, and China. GM believes that future growth will largely be determined by growth in emerging-market economies.

GM Financial's assets will double to about $33 billion, and liabilities including debt will rise to $27 billion from about $12 billion today. GM will gain a significant advantage over its competitors in the number of sales it can finance overseas.

CardWorks has agreed to sell Ally's credit card business. Ally Financial Inc. (NYSE: ALLY) is the company involved in the sale. CardWorks, Inc. is the buyer.

The agreement is definitive, which means it's a done deal. CardWorks and Ally Financial Inc. have reached a mutual understanding.

General Motors (GM) is making a significant move to strengthen its global finance unit by buying Ally Financial's operations in Europe, China, and Latin America for $4.25 billion.

The deal will help GM restore a unit that was once highly profitable before the 2008 mortgage meltdown. GM Financial, the auto giant's U.S. loan business, will pay $4.25 billion for the Ally assets.

GM Financial's assets will double to about $33 billion after the acquisition, and liabilities including debt will rise to $27 billion from about $12 billion today.

The move is expected to help GM grow in countries where the middle class is expanding, such as Brazil, Mexico, Colombia, and Chile. GM also owns nearly a 10 percent stake in Ally.

GM's Chief Financial Officer, Dan Ammann, believes the increased financing ability will raise sales and help end a disadvantage GM had compared with its competitors. GM was 10 to 15 percent behind competitors in the number of sales it was able to finance overseas.

GM will give $2 billion to GM Financial to make the purchase, which includes Ally's operations in several European countries and a 40 percent interest in a Chinese joint venture auto financing company.