Synchrony Financial (NYSE:SYF) reports increase in delinquencies and charge-offs for May 2024

Synchrony Financial (NYSE:SYF) has released its monthly charge-off and delinquency statistics report, covering the period ending May 31, 2024.

The data reveals a year-over-year increase in both the 30+ delinquency and net charge-off rates, reflecting continued moderation in customer payment rates.

According to the data, delinquencies have climbed to 4.5%, up from 3.8% in the same period last year.

Similarly, the net charge-off rate has seen an increase, reaching 6.5%.