Q2.pdf

Ally Financial Inc. reported its second-quarter 2022 financial results, with net income attributable to common shareholders of $454 million, down from $900 million in the second quarter of 2021. Net financing revenue increased to $1.76 billion, driven by strength in auto pricing and origination volumes, while other revenue decreased due to a decline in the fair value of equity securities. The company's net interest margin was 4.04%, up 49 basis points year over year, and provision for credit losses increased to $304 million, reflecting a build in CECL reserves. Noninterest expense rose due to the addition of credit card operations and investments in business growth, talent, and technology. Despite macro headwinds, Ally delivered strong operational results, with retail auto originations reaching their highest level in 16 years and newer businesses like Ally Credit Card steadily growing.