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Synchrony Financial ( (SYF) ) just unveiled an update.
The Company has shared a thirteen-month snapshot of its Monthly Charge-Off and Delinquency Statistics through August 2024, promising regular updates in line with quarterly financial announcements. The data reveals a year-over-year increase in 30+ day delinquency rates and net charge-off rates for August 2024, attributed to a slowdown in customer payment rates. Interestingly, a noticeable decrease in net charge-offs was recorded in August compared to July, mainly due to fewer charge-off cycles. This information is crucial for investors monitoring the company’s credit portfolio performance.
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