Auto Lender Ally Reports Stronger-Than-Expected Debt Management.

Ally Financial Inc., a consumer-focused lender, has reported stronger-than-expected debt management results. Net charge-offs increased by over 9% from the previous year to $435 million, which was below analysts' average estimate. Loan loss provisions also increased by 7% year-over-year to $457 million, lower than the expected amount. Despite a 6% decrease in total US auto loan originations, Ally's CEO highlighted the strength of the firm's auto dealer financial-services franchise. The company did not comment on the recent cyberattacks on CDK Global, which affected lending capabilities. Ally's net interest margin exceeded expectations, and the firm adjusted its full-year outlook accordingly. However, Ally performed the worst among its peers in the Federal Reserve's stress tests. [Extracted from the article]

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