"We are 100 percent confident that we can repay the American taxpayer completely," Ally CEO Michael Carpenter told Bloomberg. "Whether that's this year or next year, I don't know. But it's in that time frame."
Ally received a total of $17.2 billion from the Treasury's TARP bailout, but has paid some of that back over the last four years.
In order to repay its debt, Ally has been shedding its non-core businesses over the last few months. In November Ally sold its auto-finance businesses in Europe, Latin America and China to GM Financial for $4.2 billion. One month prior, Ally unloaded its Canadian operations for $4.1 billion. Ally has also sold its Mexican operations for $865 million.
Ally, which has financed the most new and used vehicles in the United States for the last two years, is now focusing on its U.S. operations.