Ally Financial Inc. filed an S-1 with the Securities and Exchange Commission today, in advance of an initial public offering expected in the second quarter.
Since gaining bank-holding-company status in December 2008, Ally has amassed $33.9 billion of deposits. At yearend 2010, it had $172 billion of total assets and $7.9 billion of total net revenue.
Here are some stats about Ally’s auto finance business, culled from the S-1:
• Ally services more than 20,000 dealers and 5.5 million retail customers worldwide.
• In the U.S. and Canada, it has 2,000 automotive finance and insurance employees in five regions and 2,600 employees that support North American servicing operations.
• Its financial product menu includes new vehicle retail loans and leases, used vehicle loans, floorplan loans, dealer capital and working capital loans, vehicle service contracts, wholesale inventory insurance, and the SmartAuction service for remarketing vehicles.
• As of Dec 31, 2010, more than 5,000 of Ally’s dealer customers utilized four or more of the bank’s products.
• Ally is a preferred financing provider for GM, Chrysler, Fiat, Saab, American Suzuki, and Thor.
• Incentivized loans, originated through preferred financing relationships, represented 41% of 2010 North American new retail loan and lease origination volume compared with 52% in 2009 and 60% in 2008.
• Consumer originations in the U.S. and Canada totaled $35.4 billion in 2010. North American penetration rate of GM and Chrysler new car purchases in 2010 was 40% and 38%, respectively.
• Ally financed an average of $25.7 billion of vehicle floorplan assets, including 86% of GM’s and 75% of Chrysler’s total North American dealer new vehicle inventory, respectively, during 2010.
• Ally’s portfolio totaled $69 billion at yearend 2010.
Citigroup, Goldman Sachs & Co., JPMorgan, and Morgan Stanley will serve as underwriters for the IPO.
Here’s the S-1 filing: ally%20s-1.pdf
