Synchrony Financial said its 30+ delinquency rate as of December 31, 2024 was 4.7%, and its period-end loan receivables were $104.7 billion. The company said its 30+ delinquency rate was flat year over year, primarily reflecting the impact of credit actions.

1. 01

   Synchrony Financial said its 30+ delinquency rate as of December 31, 2024 was 4.7%, and its period-end loan receivables were $104.7 billion. The company said its 30+ delinquency rate was flat year over year, primarily reflecting the impact of credit actions.

2. 02

   The company said the net charge-off rate for December 2024 was 6.9%, higher than 5.7% in December 2023 and 6.2% in November 2024. It attributed the year-over-year increase to the continued impact of moderation in customer payment rates.

3. 03

   The company said the increase in net charge-offs in December compared with November 2024 was mainly due to 4 more charge-off cycles. It said the number of charge-off cycles for its consumer credit card loan receivables was 26 in November 2024 and 30 in December.

4. 04

   The company said the recovery adjustment for December 2024 was (0.2)%, and the adjusted net charge-off rate was 6.7%. It said the adjustment allocates recoveries evenly across the 3 months of each quarter, and that adjusted figures are non-GAAP measures.

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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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