Synchrony sees FY23 NIM 15%-15.25%

Sees FY23 loan receivables growth 8%-10%. Sees payment rate moderation expected to continue, remaining above pre-pandemic levels during 2023. Sees FY23 net charge-offs 4.75%-5%. Net Charge-Offs not expected to reach pre-pandemic levels on an annual basis until 2024 unless significant changes in macroeconomic environment develop. Sees FY23 RSA/average loan receivables 4%-4.25% and operating expenses $1.125B per quarter. The company expects to manage expenses to deliver positive operating leverage for the full year.