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Synchrony Financial is an American consumer financial services company with its headquarters in Stamford, Connecticut, United States. [2] The company offers consumer financing products, including credit, promotional financing and loyalty programs, installment lending to industries, and FDIC-insured consumer savings products, through Synchrony Bank, its wholly owned online bank subsidiary.
GE Capital was the financial services division of General Electric. [1] Its various units were sold between 2013 and 2021, including the notable spin-off of the North American consumer finance division as Synchrony Financial.
Before the breakout of the coronavirus pandemic, Synchrony Financial (SYF) outperformed the S&P by a single-digit percentage following its spin-off from General Electric (GE) to become a stand ...
The following year, CEO Welch took issue with reclassification of GE in the Fortune 500 as a "diversified financial services company" rather than an "electrical equipment company", and by 2005 many had noted that the price-earnings ratios of the financial services sector were lower than that for GE. [30]
Image source: The Motley Fool. Synchrony Financial (NYSE: SYF) Q4 2024 Earnings Call Jan 28, 2025, 8:00 a.m. ET. Contents: Prepared Remarks. Questions and Answers. Call Participants
Synchrony Bank’s history dates to 1932 when General Electric began offering credit to families who wanted to finance their new appliances. Since those early days, Synchrony has expanded to offer ...
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Synchrony Financial (NYSE:SYF) reported third-quarter net interest income of $4.609 billion, beating the consensus of $4.491 billion. Net interest income increased 5.7% YoY, driven by higher ...