secwatch.observer — SEC 8-K summary
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Issuer:     Synchrony Financial (SYF)
CIK:        0001601712
Form:       8-K
Filed at:   2024-10-16T23:59:59+00:00
Accession:  0001601712-24-000334
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1601712/000160171224000334/0001601712-24-000334-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1601712/000160171224000334/syf-20241016.htm
  HTML page:      https://secwatch.observer/filing/0001601712-24-000334

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