GMAC Bank
GMAC’s convention on their bank’s survival plan took the decision to rebrand their company as Ally Bank. According to the company’s executives, the rebranding will help in deposit growth.
GMAC was initiallly founded in 1919 and was intended to finance GM vehicles customers.
“We certainly value our relationship with GM and GM continues to be an important customer. In addition to that, GMAC wants to grow as a bank holding company. The launch of Ally Bank provides a new platform to increase deposits,” said Sanjay Gupta, GMAC’s CEO.
It has been hard for them to pick the name, so they all came with ideas and chosen this one.
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