Ally Bank 2011 Annual Report Download - page 45
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Table of Contents
Management's Discussion and Analysis
Ally Financial Inc. • Form 10−K
The provision for loan losses was $286 million for the year ended December 31, 2010, compared to $611 million in 2009. The decrease was primarily
driven by the continued runoff of our Nuvell portfolio and improved loss performance in the consumer loan portfolio reflecting improved pricing in the used
vehicle market and higher credit quality of more recent originations.
Noninterest expense decreased 13% for the year ended December 31, 2010, compared to 2009. The decrease was primarily due to lower compensation
and benefits expense primarily related to lower employee headcount resulting from rightsizing the cost structure with business volumes along with further
productivity improvements, unfavorable foreign−currency movements during the year ended December 31, 2009, and lower IT and professional services
costs due to continued focus on cost reduction.
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