SYF · Synchrony Financial

This 8-K furnishes Synchrony Financial’s unaudited monthly credit metrics through March 31, 2026, under Item 7.01. The filing confirms continued portfolio expansion — period-end loan receivables rose to $100.1 billion, up $0.5 billion year-over-year — while maintaining stable credit quality: the 30+ delinquency rate held steady at 4.5% versus the prior year, and the net charge-off rate declined to 5.8% from 6.2% a year earlier. The adjusted net charge-off rate, which incorporates quarterly recovery estimates smoothed across months, aligned exactly with the reported rate in March 2026 due to a zero recovery adjustment — reinforcing that the decline reflects underlying improvement rather than timing or estimation effects. Notably, the exhibit clarifies that charge-off cycle date variation (e.g., 30 dates in March 2026 vs. 28 in March 2025) may cause month-to-month volatility unrelated to portfolio health; however, the year-over-year comparison mitigates this noise. Since no earnings, guidance, capital actions, or material events are disclosed, investors should treat this as a routine regulatory disclosure supporting transparency on credit trends — useful for monitoring portfolio risk but not signaling a material inflection point.