Synchrony reports Sep 2024 charge-off rate 6.4%, up from 4.5% a year ago; 30+ delinquency rate rises to 4.8%

Synchrony Financial

30+ delinquency rate reached 4.8% at Sep 30, 2024, up from 4.4% at Sep 30, 2023.
Net charge-off rate (annualized) for Sep 2024 was 6.4%, versus 4.5% a year earlier.
Adjusted net charge-off rate for Sep 2024 was 6.2%, compared to 4.4% in Sep 2023.
Period-end loan receivables grew to $102.2B from $97.9B a year ago; average receivables $102.1B.
Company attributes deterioration to moderation in customer payment rates.

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