Synovus reports Q4 adjusted EPS 80c, consensus 90c

Reports Q4 non-performing loan and asset ratios slightly higher at 0.66% and 0.66%, respectively; the net charge-off ratio for the quarter was 0.38%, and total past dues were 0.14% of total loans outstanding. “Synovus’ 2023 financial performance is a testament to our resilience and the strength of our business model,” said Synovus Chairman, CEO and President Kevin Blair. “Amid a challenging economic landscape in 2023, we broadened client relationships, further diversified our business mix, streamlined expenses and took strategic actions to optimize the balance sheet. Our strong banking footprint and ongoing investments in talent, capabilities, functionalities and new revenue sources fuel the bank’s path to solid growth. We persist in bolstering our core deposit generation, enriching lending diversification, enhancing expense efficiency and delivering world-class client service. As we execute our plan, we’re confident momentum will build throughout 2024 and beyond for Synovus.”