I suggested some time ago to keep an eye on Ally financial foe indications of deterioration in credit quality. If they can't keep up payments on their cars, then BNPL repayments will be last of their worries. With Zip users able to pay for essentials such as food we would see a very large spike in delinquicies.
A 100 basis point increase in bad debt provisions is circa $100 million hit to the bottom line
Ally Financial's creditchallenges have intensified over the quarter as borrowersstruggled with high inflation and costs of living, the consumerlender's chief financial officer Russell Hutchinson said onTuesday, sending its shares down 17%.
I suggested some time ago to keep an eye on Ally financial foe...
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$2.92 |
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