01—Abstract
Summary
Summary of the 8-K filed August 15, 2025. Cited figures are marked; the original filing is the authoritative source.
Synchrony Financial furnished Exhibit 99.1 under Item 7.01 of this Form 8-K, presenting its monthly charge-off and delinquency statistics for the thirteen months ended July 31, 2025.
The company states it will continue furnishing these statistics monthly, with the last month of each calendar quarter provided alongside its quarterly financial results announcement. The information is furnished, not filed, for purposes of Section 18 of the Exchange Act. For July 31, 2025, period-end loan receivables were $100.3 billiona, up slightly from $99.8 billion at June 30, 2025, and average loan receivables, including held for sale, were $99.7 billion.
The 30+ day delinquency rate was 4.2%b, unchanged from June 2025 and below the 4.6% reported for July 31, 2024. The net charge-off rate was 5.1% for July 2025, compared with 5.8% in June 2025 and 6.2% in July 2024. The adjusted net charge-off rate, which includes the recovery adjustment, was also 5.1% for July 2025, versus 5.7% in June 2025.
The filing notes that the consumer credit card loan receivables represent approximately 92%c of total period-end loan receivables at July 31, 2025. It also explains that monthly charge-off figures can vary because charge-offs occur on charge-off cycle dates whose count differs by month, and that the recovery adjustment allocates recoveries, including debt sales, evenly across each quarter's three months using estimates subject to change.
02—Key points
Key Highlights
- Period-end loan receivables were $100.3 billion at July 31, 2025, versus $99.8 billion at June 30, 2025 and $102.7 billion at July 31, 2024.
- The 30+ day delinquency rate was 4.2% at July 31, 2025, unchanged from June 2025 and down from 4.6% at July 31, 2024.
- The net charge-off rate was 5.1% in July 2025, down from 5.8% in June 2025 and 6.2% in July 2024.
- The adjusted net charge-off rate was 5.1% in July 2025, compared with 5.7% in June 2025 and 6.3% in July 2024.
- Average loan receivables, including held for sale, were $99.7 billion for the month ended July 31, 2025.
- Consumer credit card loan receivables represent approximately 92% of total period-end loan receivables at July 31, 2025.
- Synchrony will continue to furnish these statistics monthly, with quarter-end month figures released alongside quarterly financial results.
03—Questions
Frequently Asked Questions
What did Synchrony disclose in this 8-K?
Synchrony furnished Exhibit 99.1 under Item 7.01 (Regulation FD Disclosure), containing monthly charge-off and delinquency statistics for the thirteen months ended July 31, 2025, in billions of dollars and percentage rates.
How did credit quality trend in July 2025 compared with the prior month and prior year?
The 30+ day delinquency rate was 4.2% in July 2025, the same as June 2025 and lower than 4.6% in July 2024. The net charge-off rate was 5.1%, down from 5.8% in June 2025 and 6.2% in July 2024.
What is the difference between the net charge-off rate and the adjusted net charge-off rate?
The adjusted net charge-off rate includes a recovery adjustment that allocates recoveries, including debt sales, evenly across the three months of each quarter. For July 2025 the recovery adjustment was zero, so both rates were 5.1%, while June 2025 showed a recovery adjustment of (0.1)% and an adjusted rate of 5.7% versus a net charge-off rate of 5.8%.
Why can monthly charge-off figures fluctuate?
Charge-offs are executed on charge-off cycle dates that occur on various days each month, and the number of cycle dates varies with the calendar and billing cycles. The filing states that the charged-off amount can therefore vary between months without a corresponding change in portfolio performance. For example, July 2025 had 28 consumer credit card charge-off cycle dates versus 29 in July 2024.
When will Synchrony next furnish these statistics?
The company 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 financial results for that quarter.
04—Continue