secwatch.observer — SEC 8-K summary
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Issuer:     Synchrony Financial (SYF)
CIK:        0001601712
Form:       8-K
Filed at:   2024-04-24T23:59:59+00:00
Accession:  0001601712-24-000161
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1601712/000160171224000161/0001601712-24-000161-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1601712/000160171224000161/syf-20240424.htm
  HTML page:      https://secwatch.observer/filing/0001601712-24-000161

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