SYNCHRONY FINANCIAL
MONTHLY CHARGE-OFF AND DELINQUENCY STATISTICS
AS OF AND FOR EACH OF THE THIRTEEN MONTHS ENDED
(unaudited, $ in billions)
The following table provides monthly charge-off and delinquency statistics as of and for each of the thirteen months ended September 30, 2023.
The year over year increase in the over-30 day loan delinquencies as a percentage of period-end loan receivables (the "30+ delinquency rate") at September 30, 2023 and the year over year increase in net charge-offs for the month ended September 30, 2023 reflect the normalization of credit trends.
Sep 30,
2023 		Aug 31,
2023 		Jul 31,
2023 		Jun 30,
2023 		May 31,
2023 		Apr 30,
2023 		Mar 31,
2023 		Feb 28,
2023 		Jan 31,
2023 		Dec 31,
2022 		Nov 30,
2022 		Oct 31,
2022 		Sep 30,
2022
Period-end loan receivables $ 97.9 $ 97.3 $ 96.3 $ 94.8 $ 93.9 $ 92.1 $ 91.1 $ 90.7 $ 91.5 $ 92.5 $ 90.0 $ 87.4 $ 86.0
Average loan receivables, including held for sale $ 97.3 $ 96.2 $ 95.2 $ 93.9 $ 92.3 $ 91.3 $ 90.3 $ 90.8 $ 91.3 $ 91.2 $ 87.8 $ 86.2 $ 85.2
30+ days past due as a % of period-end loan receivables 4.4 % 4.1 % 4.0 % 3.8 % 3.8 % 3.7 % 3.8 % 3.9 % 3.8 % 3.7 % 3.6 % 3.4 % 3.3 %
Net charge-offs (annualized) as a % of average loan receivables, including held for sale(1)
4.5 % 4.6 % 4.7 % 4.7 % 5.0 % 4.6 % 4.5 % 4.7 % 4.2 % 3.5 % 3.6 % 3.4 % 2.9 %
Recovery adjustment(2)
(0.1) % 0.1 % - % - % (0.1) % 0.1 % - % - % 0.1 % (0.1) % 0.1 % - % 0.1 %
Adjusted net charge-offs as a % of average loan receivables, including held for sale(3)
4.4 % 4.7 % 4.7 % 4.7 % 4.9 % 4.7 % 4.5 % 4.7 % 4.3 % 3.4 % 3.7 % 3.4 % 3.0 %
(1) Charge-offs are executed on charge-off cycle dates which occur on various days during each calendar month. The number of different charge-off cycle dates in each month varies based on such factors as the calendar and the timing of billing cycles. As a result, the amount of charged-off loan receivables can vary between monthly periods with no corresponding change in the performance of the portfolio. The following table sets forth the number of different charge-off cycle dates for our consumer credit card loan receivables, which represent approximately 94% of total period end loan receivables at September 30, 2023, for the calendar months indicated.
2022 2023
January 28 30
February 28 28
March 28 28
April 26 28
May 30 29
June 28 27
July 28 28
August 29 28
September 27 26
October 28 30
November 29 28
December 25 28
(2) Represents adjustment to allocate recoveries, including debt sales, evenly across the three calendar months of each respective quarterly reporting period. The adjustments for periods other than for the last month of each calendar quarter incorporate estimated recoveries for the applicable full quarterly reporting period. Such estimates are subject to change within each applicable quarter and may differ from actual quarterly results.
(3) Adjusted net charge-offs represent a non-GAAP financial measure. Adjusted net charge-offs as a % of average loan receivables, including held for sale, represent the Company's net charge-off rate for each month including the 'recovery adjustment' defined above. We believe the presentation of this measure is useful to investors as it represents a monthly measure which is more indicative of both our quarterly and annual net charge-off rates.
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Synchrony Financial Inc. published this content on 24 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 October 2023 10:05:49 UTC.