Synchrony Financial Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Announces Net Charge-Offs for the Fourth Quarter of 2016; Provides ROA Guidance for the Full Year of 2017
For the year, the company reported net interest income of $13,530 million compared to $12,093 million a year ago. Earnings before provision for income taxes were $3,570 million compared to $3,531 million a year ago. Net earnings attributable to common stockholders were $2,251 million compared to $2,214 million a year ago. Basic and diluted EPS was $2.71 compared to diluted EPS of $2.65 a year ago. Return on assets was 2.7% compared to 2.9% a year ago. Return on equity was 16.6% compared to 19.1% a year ago. Return on tangible common equity as 18.9% compared to 22.0% a year ago.
For the quarter, the company's net charge-offs were $847 million compared to $697 million a year ago.
For 2017, the company is expecting its ROA to be 2.5%.