GMAC Financial Services posts $767m loss
04 November 2009
GMAC Financial Services has reported a third quarter net loss of $767m in 2009, compared with a net loss of $2.5bn in the third quarter of 2008.
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GMAC Financial Services has reported a third quarter net loss of $767m in 2009, compared with a net loss of $2.5bn in the third quarter of 2008. Results in the quarter were adversely affected by losses related to legacy assets in the mortgage operations.
During the third quarter of this year, certain business lines were classified as discontinued operations, such as GMAC's US consumer property/casualty insurance business and three international automotive financing operations. Excluding these...
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