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Synchrony Financial up 3% after solid credit metrics in Q3

Published 10/20/2017, 08:05 AM
© Reuters.  Synchrony Financial up 3% after solid credit metrics in Q3
SYF
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  • Q3 net income of $555M or $0.70 per share vs. $604M and $0.73 one year ago.
  • Net interest income up 11% Y/Y to $3.9B, with loan receivables growth up 9% (purchase volume growth of 4%). Net interest margin up 40 basis points to 16.74%.
  • Loans 30+ days past due as a percent of receivables of 4.80% up 54 basis points from a year ago. Net charge-offs of 4.95% up 56 basis points Y/Y, but down 47 basis points from Q2.. Provisions of $1.3B up from $986M a year ago, but down from $1.33B in Q2.
  • Conference call at 8:30 ET
  • Previously: Synchrony Financial beats by $0.06, beats on net interest income (Oct. 20)
  • SYF +3.1% premarket
  • Now read: Buy Synchrony Financial


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