Synchrony reports April 2024 credit stats: 30+ delinquency 4.6%, net charge-off 6.7%, both up YoY

Synchrony Financial

30+ delinquency rate 4.6% at Apr 30, 2024, up from 3.7% a year ago, reflecting continued moderation in payment rates.
Net charge-off rate (annualized) 6.7% for April 2024 vs 4.6% in April 2023; adjusted net charge-off rate 6.7%.
Period-end loan receivables $101.6B, up from $92.1B in April 2023; average loan receivables $101.1B.
Company attributes year-over-year increases to persistent slowdown in customer payment rates.

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