CORRECTION: Synchrony Financial Q2 Purchase Volume Decreased 1%, Loan Receivables Increased 8% To $102.3B, Net Interest Margin Decreased 48 bps To 14.46%

Author: Benzinga Newsdesk | July 17, 2024 08:49am

KEY OPERATING & FINANCIAL METRICS*
PERFORMANCE REFLECTS DIFFERENTIATED BUSINESS MODEL
• Purchase volume decreased 1% to $46.8 billion
• Loan receivables increased 8% to $102.3 billion
• Average active accounts increased 2% to 71.0 million
• New accounts decreased 14% to 5.1 million
• Net interest margin decreased 48 basis points to 14.46%
• Efficiency ratio decreased 380 basis points to 31.7%
• Return on assets increased 10 basis points to 2.2%
• Return on equity decreased 30 basis points to 16.7%
• Return on tangible common equity** decreased 40 basis points to 20.2%

Posted In: SYF