The company said its 30+ day delinquency rate was 5.0% as of February 29, 2024, up from 3.9% on February 28, 2023. It attributed the increase to the continued impact of moderation in customer payment rates.

1. 01

   The company said its 30+ day delinquency rate was 5.0% as of February 29, 2024, up from 3.9% on February 28, 2023. It attributed the increase to the continued impact of moderation in customer payment rates.

2. 02

   The company said the net charge-off rate for the month ended February 29, 2024 was 6.5%, higher than 4.7% in February 2023. The rate is calculated as annualized net charge-offs as a percentage of average loan receivables, including held for sale.

3. 03

   Synchrony Financial said period-end loan receivables were $100.0 billion as of February 29, 2024, up from $90.7 billion on February 28, 2023. Average loan receivables, including held for sale, were $100.3 billion in February 2024.

4. 04

   The company said its adjusted net charge-off rate was 6.5% for February 2024, and the recovery adjustment was shown as "—" in the table. It said the rate is a non-GAAP measure that includes an adjustment spreading recoveries evenly across the three months of each quarter.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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