Ally, CardWorks

Ally Financial offloads credit card business, $2.3B loan portfolio
CardWorks agreed to buy the business, including a $2.3 billion credit-card loan portfolio with 1.3 million active cardholders as of the end of last year, Ally said. Additional terms of the deal weren’t disclosed in a Wednesday statement, but Ally paid around $750 million for the business in 2021. Bloomberg reported on the pending sale in November.
Ally Financial Shares Rise on Strong 4Q, Card Business Sale
Shares of Ally Financial advanced after fourth-quarter results beat analyst projections and the company inked a deal to sell its credit-card business. The stock was up 5% at $40.08 in early trading. Shares are up 11% since the year started and were trading at around $36.32 this time a year ago.
Ally Offloads Credit-Card Business, $2.3 Billion Loan Portfolio
Ally Financial Inc. reached a deal to offload its credit-card unit to CardWorks Inc., bowing out of a business it entered just over three years ago.
Consumer lender Ally Financial to sell credit card business to CardWorks
(Reuters) -Consumer lender Ally Financial has agreed to sell its credit card business to credit and payments firm CardWorks, the companies said on Wednesday. Shares of Ally jumped 8.6% in premarket trading.
Ally Financial To Sell Its Credit Card Business - Quick Facts
Ally Financial (ALLY) and CardWorks announced they have entered into a definitive agreement for CardWorks, and its wholly-owned bank
Ally Financial Stock Surges as Company Beats Profit Estimates, Sells Credit Card Business
Key Takeaways Ally Financial posted fourth-quarter earnings and revenue that topped estimates as it reduced expenses.CEO Michael Rhodes said Ally "took significant action" in the quarter to improve its finances.
Ally Financial divests credit card business to CardWorks
This move aligns with Ally's mission to focus on its core services, including approximately 10 million customers in banking, brokerage, and auto financing. CardWorks, with its 38-year history in credit and payments,
Ally and CardWorks Reach Agreement on Sale of Ally's Credit Card Business
Ally Financial Inc. (NYSE:?ALLY) and CardWorks, Inc. today announced that they have entered into a definitive agreement for CardWorks, and its wholly-owned bank subsidiary, Merrick Bank, to acquire Ally's credit card business,
Ally Financial (ALLY) Gets a Buy from Truist Financial
In a report released today, Brian Foran from Truist Financial maintained a Buy rating on Ally Financial (ALLY – Research Report). The company’s ...
Ally Financial: Q4 Earnings Snapshot
Ally Financial Inc. (ALLY) on Wednesday reported fourth-quarter earnings of $108 million. On a per-share basis, the Detroit-based company said it had net income of ...
Ally Shares Soar as Expenses, Loan-Loss Provisions Decline
Ally Financial Inc. fourth-quarter earnings surged as its net interest margin beat analysts’ estimates and expenses and ...
Evercore ISI Sticks to Their Hold Rating for Ally Financial (ALLY)
In a report released yesterday, John Pancari from Evercore ISI maintained a Hold rating on Ally Financial (ALLY – Research Report), with a ...
autofinancenews2d
Ally Financial originations climb 7.6%
Ally Financial’s fourth-quarter auto originations climbed year over year as the bank prioritized its auto lending business.
Crain's Detroit16d
Ally Financial to end mortgage originations, cut jobs
Gift Article 10 Remaining As a subscriber, you have 10 articles to gift each month. Gifting allows recipients to access the article for free. Ally Financial Inc. will cut jobs, end mortgage ...
Citi maintains Buy on Ally Financial shares, target at $55
Citi analysts, led by Keith Horowitz, maintained a Buy rating on Ally Financial (NYSE:ALLY) with a steady price target of $55 ...
Bank with large Charlotte presence implements layoffs
Bloomberg reported last month that the company was likely exploring the sale of its credit card unit. Ally gave the business ...
Ally Financial: Asset Sale Should Not Outweigh A Mixed Outlook
Ally Financial Inc.'s Q4 results alleviated some credit loss concerns, but has elevated delinquencies and an uncertain 2025 ...