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Adam Gault/OJO Images via Getty Images Synchrony Financial's ( NYSE: SYF ) credit card delinquency rate remained unchanged, while its net charge-off rate retreated M/M in August, the company said in a recent SEC filing. Both rates, nonetheless, remain above their pre-pandemic levels. The delinquency rate of 4.
6% was flat from July and rose from 4.1% in the year-ago period. That's also up from 4.
4% in August 2019, before the pandemic hit. Its adjusted net charge-off rate of 5.7% gapped down from 6.
3% in the prior month and 4.7% a year earlier. That compares with 5.
3% five years ago. Lending activity decreased, with period-end loan receivables of $102.5B slipping from $102.
7B in July and $97.3B in August 2023. More on Synchrony Financial Synchrony Financial Still Looks Like A Solid Value Play Synchrony Financial: Not Too Expensive Yet Synchrony Financial (SYF) Q2 2024 Earnings Call Transcript Synchrony, Ally downgraded at BTIG on consumer credit woes Wall Street is alarmed about weaker consumer-credit trends: WSJ.
