Synchrony Financial credit metrics a bit worse than hoped

|About: Synchrony Financial (SYF)|By:, SA News Editor

Net interest income up 7% Y/Y to $3.8B.

Provisions up 4% to $1.4B, with company noting "credit normalization" and growth. Net charge-off ratio rose to 6.14% from 5.33% a year ago - that would be above management's 5.5%-5.8% full-year target. Loans 30+ days past due ratio up to 4.52% from 4.25%.

Helping the bottom line were lower tax rates - tax provision down 27%.

Conference call at 8:30 ET

Previously: Synchrony Financial beats by $0.07, misses on net interest income (April 20)

SYF flat premarket

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