Synchrony and Ally Financial Reach Agreement on Sale of Ally's Point-of-Sale Financing Business
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Ally Financial shares rally after agreeing to sell point-of-sale financing business, revenue tops consensus
January 19, 2024 12:11 PM ESTAlly Financial (NYSE: ALLY) shares rallied as much as 10% Friday after the company reported its latest quarterly earnings, topping consensus revenue estimates. It was also announced that Synchrony Financial has agreed to buy Ally's point-of-sale financing business, including $2.2 billion of loan receivables.
Ally Lending, its point-of-sale financing business, has a portfolio that includes relationships with nearly 2,500 merchant locations and supports more than 450,000... More
