Ally Offloads Credit-Card Business

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 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.
Ally steers back to auto after brief credit card venture
The auto lender is selling its credit card business and halting new mortgage loans, abandoning its once-broader ambitions. Ally CEO touted the move as "the power of focus."
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 stock surges after strong Q4 results, agreement to sell card business
Ally Financial (ALLY) stock jumped 8.6%in Wednesday premarket trading after the lender posted stronger-than-expected Q4 results and announced an agreement to sell its card business.
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 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 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 to sell credit card business to CardWorks
Plans for the sale were hinted at earlier this year, a month after the CEO said the business wasn’t within Ally’s core focus.
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 to sell credit card business
Ally Financial Inc. (NYSE: ALLY) has entered into an agreement to sell its credit card division to CardWorks Inc., along with its subsidiary, Merrick Bank.
autofinancenews6h
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.
Hosted on MSN13h
Ally Financial Stock Soars Pre-Market As Q4 Net Income More Than Doubles: Retail’s Exuberant
Shares of Ally Financial Inc (ALLY) soared over 9% in Wednesday’s pre-market session after the company’s fourth-quarter ...