Synchrony Dec net charge-off rate rises to 6.9% (adj. 6.7%) from 5.7% YoY; delinquency flat 4.7%

Synchrony Financial

Period-end loan receivables $104.7B at Dec 31, 2024, up from $103.0B a year earlier.
30+ day delinquency rate unchanged at 4.7% YoY, reflecting impact of credit actions.
Net charge-off rate of 6.9% (annualized) for Dec 2024, compared to 5.7% in Dec 2023.
Adjusted net charge-off rate increased to 6.7% from 5.6% YoY.
Higher charge-offs driven by moderation in customer payment rates and four additional charge-off cycles in December.

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