The company reported that its 30+ delinquency rate as of August 31, 2024 was 4.6%, and its net charge-off rate for August 2024 was 5.6%. For August 2023, the rates were 4.1% and 4.6%, respectively.

8-KRegulation FD DisclosureFiled Sep 9, 2024Period of report Sep 9, 2024Summary published (UTC) Oct 25, 2026

Key points

AI summary

The company reported that its 30+ delinquency rate as of August 31, 2024 was 4.6%, and its net charge-off rate for August 2024 was 5.6%. For August 2023, the rates were 4.1% and 4.6%, respectively.
Synchrony Financial said the year-over-year increase in its 30+ delinquency rate as of August 31, 2024 and in its net charge-off rate for August reflects the continued slowdown in customer payment rates.
The company said the decrease in net charge-offs compared with July 2024 was mainly due to 4 fewer charge-off cycles. The number of charge-off cycle dates for its consumer credit card loan receivables went from 29 in July 2024 to 25 in August.
Synchrony Financial reported period-end loan receivables of $102.5 billion as of August 31, 2024 and average loan receivables, including held for sale, of $102.1 billion for August. It also said it intends to continue providing these statistics on a monthly basis.

Summary

AI-written

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.

August 2024 Delinquency and Net Charge-Off Rates

The company reported that its 30+ delinquency rate as of August 31, 2024 was 4.6%, and its net charge-off rate for August 2024 was 5.6%. For August 2023, the rates were 4.1% and 4.6%, respectively.

Source · Based on the filing body and exhibits

Company Explanation of Changes in Delinquency and Net Charge-Off Rates

Synchrony Financial said the year-over-year increase in its 30+ delinquency rate as of August 31, 2024 and in its net charge-off rate for August reflects the continued slowdown in customer payment rates.

Source · Based on the filing body and exhibits

Net Charge-Offs Decline and Charge-Off Cycles Versus July

The company said the decrease in net charge-offs compared with July 2024 was mainly due to 4 fewer charge-off cycles. The number of charge-off cycle dates for its consumer credit card loan receivables went from 29 in July 2024 to 25 in August.

Source · Based on the filing body and exhibits

Loan Receivables and Plans for Monthly Statistics Disclosure

Synchrony Financial reported period-end loan receivables of $102.5 billion as of August 31, 2024 and average loan receivables, including held for sale, of $102.1 billion for August. It also said it intends to continue providing these statistics on a monthly basis.

Source · Based on the filing body and exhibits

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

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

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