Synchrony said on August 4, 2025 it entered into a series of agreements to acquire the Lowe's commercial co-branded credit card portfolio, with loan receivables of approximately $0.8 billion, and become the issuer of the commercial co-branded credit card portfolio.

1. 01

   Synchrony said on August 4, 2025 it entered into a series of agreements to acquire the Lowe's commercial co-branded credit card portfolio, with loan receivables of approximately $0.8 billion, and become the issuer of the commercial co-branded credit card portfolio.

2. 02

   In connection with this portfolio acquisition, the company said it expects to record a reserve of up to $50 million during Q3 2025.

3. 03

   Synchrony said the completion of the portfolio acquisition and launch of the commercial co-branded credit card program are expected to occur during the first half of 2026. The company said the portfolio acquisition is subject to reasonable and customary closing conditions.

4. 04

   Synchrony said this information is furnished pursuant to Form 8-K Item 7.01 and shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934. It added that forward-looking statements regarding the portfolio acquisition and Dual Card program launch may differ materially from actual results due to inherent uncertainties.

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