01—Abstract
Summary
Summary of the 8-K filed July 22, 2025. Cited figures are marked; the original filing is the authoritative source.
Synchrony Financial (SYF) furnished this Form 8-K under Item 7.01 (Regulation FD Disclosure) with Exhibit 99.1, its Monthly Charge-Off and Delinquency Statistics for the thirteen months ended June 30, 2025.
The company states it intends to continue furnishing these statistics monthly, and for the last month of each calendar quarter, it will furnish them alongside its quarterly financial results announcement. The information is furnished, not filed, for purposes of Section 18 of the Exchange Act. As of June 30, 2025, period-end loan receivables were $99.8 billiona, with a 30+ day delinquency rate of 4.2% and a net charge-off rate of 5.8%.
The adjusted net charge-off rate, a non-GAAP measure that includes a recovery adjustment, was 5.7% for June 2025. Over the period, period-end loan receivables declined from $104.7 billion at December 31, 2024 to $99.8 billionb at June 30, 2025, and the 30+ delinquency rate moved from 4.7% at December 31, 2024 and 4.9% at its peak in September and October 2024 down to 4.2% at June 30, 2025.
The filing notes that charge-off figures can vary month to month because charge-offs are executed on cycle dates that differ in number across calendar months, and that recoveries, including debt sales, are allocated evenly across each quarter's three months using estimates that may change. The consumer credit card portfolio represents approximately 92%c of total period-end loan receivables at June 30, 2025.
02—Key points
Key Highlights
- Period-end loan receivables were $99.8 billion at June 30, 2025, down from $104.7 billion at December 31, 2024 and $102.3 billion at June 30, 2024.
- The 30+ day delinquency rate was 4.2% at June 30, 2025, compared with 4.5% at June 30, 2024 and a high of 4.9% in September and October 2024.
- The net charge-off rate was 5.8% in June 2025, up from 5.1% in May 2025, and the adjusted net charge-off rate was 5.7% for June 2025.
- The June 2025 recovery adjustment was (0.1)%, which the filing explains allocates recoveries, including debt sales, evenly across the quarter's three months.
- Consumer credit card loans represent approximately 92% of total period-end loan receivables at June 30, 2025.
- Synchrony will furnish these monthly statistics going forward, with quarter-end month data released alongside quarterly earnings.
- The statistics are unaudited and reported in billions of dollars.
03—Questions
Frequently Asked Questions
What did Synchrony Financial disclose in this 8-K filing?
Synchrony furnished Exhibit 99.1 under Item 7.01 containing its monthly charge-off and delinquency statistics for the thirteen months ended June 30, 2025. The information is furnished rather than filed for Section 18 purposes.
How did the delinquency rate trend?
The 30+ day delinquency rate was 4.2% at June 30, 2025, down from 4.7% at December 31, 2024 and from a peak of 4.9% in September and October 2024. It was 4.5% at June 30, 2024.
Why did the net charge-off rate change between May and June 2025?
The net charge-off rate rose from 5.1% in May 2025 to 5.8% in June 2025. The filing explains that charge-offs run on cycle dates that vary in number by month, so monthly amounts can move without a corresponding change in portfolio performance.
What is the adjusted net charge-off rate?
The adjusted net charge-off rate is a non-GAAP measure that adds a recovery adjustment, which allocates recoveries, including debt sales, evenly across each quarter's three months. For June 2025 it was 5.7%, and the company says it is a monthly measure more indicative of quarterly and annual net charge-off rates.
How will Synchrony report these statistics in the future?
Synchrony intends to furnish these statistics monthly. For the last month of each calendar quarter, the statistics will be furnished at the same time as the company announces its quarterly financial results.
04—Continue