Synchrony Financial March 2024 credit metrics worsen; 30+ delinquency rises to 4.7%, net charge-offs to 6.6%

Synchrony Financial

Period-end loans at $101.7B as of Mar 31, 2024, up from $91.1B a year ago.
30+ delinquency rate was 4.7% at Mar 31, 2024 vs 3.8% at Mar 31, 2023.
Net charge-off rate for Mar 2024 was 6.6% (annualized), up from 4.5% in Mar 2023.
Adjusted net charge-off rate (non-GAAP) was 6.4% for Mar 2024 vs 4.5% a year ago.
Company attributes increases to continued moderation in customer payment rates.

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