Synchrony Financial May 2024 credit stats: delinquency/charge-off rates rise YoY

Synchrony Financial

Period-end loan receivables $102.4B as of May 31, 2024.
30+ day delinquency rate 4.5%, up from 3.8% a year earlier.
Net charge-off rate 6.5% (annualized), versus 5.0% in May 2023.
Adjusted net charge-off rate (non-GAAP) 6.4%, compared with 4.9% YoY.
Increases attributed to continued moderation in customer payment rates.

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