Synchrony August charge-off rate 5.6% (4.6% YoY); 30+ delinquency 4.6% (4.1% YoY)

Synchrony Financial

Period-end loan receivables $102.5B at Aug 31, 2024, up from $97.3B a year earlier.
30+ day delinquency rate 4.6% vs 4.1% in Aug 2023, reflecting moderation in customer payment rates.
Net charge-off rate 5.6% (annualized), up from 4.6% YoY; adjusted net charge-off rate 5.7%.
Net charge-offs decreased from July 2024 primarily due to four fewer charge-off cycles.
Company continues to furnish these statistics monthly; next update with Q3 earnings.

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