secwatch.observer — SEC 8-K summary
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Issuer:     Synchrony Financial (SYF)
CIK:        0001601712
Form:       8-K
Filed at:   2024-08-15T23:59:59+00:00
Accession:  0001601712-24-000268
Event type: other_material
Sentiment:  negative
Materiality: 0.55
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Synchrony Financial July 2024 credit metrics: 30+ delinquency 4.6%, net charge-off 6.2%, both up YoY
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- Period-end loan receivables $102.7B at July 31, 2024, up from $96.3B a year earlier.
- 30+ delinquency rate rose to 4.6% from 4.0% in July 2023, driven by moderation in customer payment rates.
- Net charge-off rate (annualized) increased to 6.2% from 4.7% a year ago.
- Adjusted net charge-off rate, which smooths recovery timing, was 6.3% vs. 4.7% in July 2023.
- Credit card loan receivables (approx. 92% of total) had charge-off cycle dates varying by month.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1601712/000160171224000268/0001601712-24-000268-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1601712/000160171224000268/syf-20240815.htm
  HTML page:      https://secwatch.observer/filing/0001601712-24-000268

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