GM Financial Reports Flat Results Featured

By Staff Writer November 05, 2018

GM Financial Company Inc. announced net income of $441 million for the quarter ended Sept. 30, compared to $442 million for the quarter ended June 30 and $202 million for the quarter ended Sept. 30, 2017.
 Retail loan originations were $6.7 billion for the quarter, compared to $6 billion for the quarter ended June 30 and $4.7 billion for the quarter ended Sept. 30, 2017
The outstanding balance of retail finance receivables, net of fees, was $37.9 billion at Sept. 30.


Retail finance receivables 31-60 days delinquent were 3.4 percent of the portfolio at Sept. 30, compared to 3.6 percent at Sept. 30, 2017. Accounts more than 60 days delinquent were 1.3 percent of the portfolio, compared to 1.6 percent at Sept. 30, 2017.


Annualized net charge-offs were 1.7 percent of average retail finance receivables for the quarter ended Sept. 30, compared to 1.9 percent for the quarter ended Sept. 30, 2017.

Last modified on Monday, 05 November 2018 21:55