Ally Financial Inc · Q1 2021 earnings

Briefing

Ally's first quarter performance demonstrated the ability to navigate the complexities of the pandemic and emerge as a stronger and more resilient company, driven by leading auto and digital banking platforms and a culture centered around customer service.

Ally Financial reported a strong first quarter with net income attributable to common shareholders of $796 million, driven by a $13 million provision benefit compared to a $903 million provision expense in the prior year period, as well as higher other revenue and higher net financing revenue. Consumer auto originations reached $10.2 billion, and retail deposits increased to $128.4 billion.

• Consumer auto originations reached $10.2 billion, sourced from 3.3 million decisioned applications.
• Retail deposits increased to $128.4 billion, up 21% year-over-year and $4.0 billion quarter-over-quarter.
• Ally Home direct-to-consumer mortgage originations increased by 145% year-over-year to $1.8 billion.
• The board of directors approved a second quarter 2021 common dividend of $0.19 per share and resumed buybacks under a $1.6 billion fiscal year 2021 authorization.

Headline financials

Revenue & EPS history

Ally's strong first quarter performance demonstrated our continued ability to navigate the complexities of the pandemic and emerge as a stronger and more resilient company.