Synchrony Financial Earnings: Underlying Loan Growth Overshadowed by Loss Provisions
Synchrony Financial's (NYSE: SYF) loan portfolio is swelling in size, but that growth isn't making its way to the bottom line. In the third quarter, the store credit card issuer and consumer lender revealed that its earnings declined about 8% despite 9% growth its loan portfolio versus the year-ago period.
Earnings fell as the loan portfolio grew largely because Synchrony Financial is taking higher provisions now to build up reserves against credit losses in the future. Here's what shareholders need to know.
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Source: Fool.com
