Strong Financial Results
Synchrony reported net earnings of $789 million or $1.94 per diluted share, a return on average assets of 2.6%, and a return on tangible common equity of 24.3% for the third quarter.
Growth in New Accounts and Purchase Volume
Synchrony added 4.7 million new accounts and generated $45 billion of purchase volume, reflecting stable average active accounts and ending receivables growth of 4%.
Partnerships and Renewals
Synchrony added or renewed more than 15 partners, including major names like DICK's Sporting Goods and Gibson, and launched strategic partnerships with Albertsons and other companies.
Loan Receivables Growth
Ending loan receivables reached $102 million, reflecting growth of 4% compared to last year.
Net Revenue Increase
Net revenue grew 10% to $3.8 billion due to higher interest and fees, lower RSA, and higher other income.