Synchrony Bank
Financial Performance
Synchrony Bank Revenue & Financials
Revenue
$18.6B (FY2024)
Market Cap
$25.3B
Net Income
$3.1B
Employees
19,000
What is Synchrony Bank's revenue?
Synchrony Bank had $18.6B in revenue for fiscal year 2024, up 8.8% from 2023. Net income was $3.1B.
- Latest revenue
- $18.6B (FY2024)
- Year-over-year
- +8.8%
- Growth rate (CAGR)
- 4.7% over 9 years
- Peak revenue
- $18.6B (FY2024)
- Years of data
- 10
- Employees
- 19,000
- How much profit does Synchrony Bank make?
- Synchrony Bank reported net income of $3.1B for fiscal year 2024.
- How many employees does Synchrony Bank have?
- Synchrony Bank has about 19,000 employees.
Financial Analysis
Synchrony's financial performance demonstrates the outstanding compounding power of high-return consumer credit platforms. In fiscal year 2024, Synchrony reported net revenue (net interest income after retailer share arrangements plus non-interest income) of $18.50 billion and net income of $2.80 billion. Demonstrating industry-leading pricing power and loan yield, Synchrony maintained a net interest margin (NIM) exceeding 15.0% across its $115 billion loan portfolio—roughly five times higher than traditional commercial banks. Demonstrating pristine balance-sheet strength, Synchrony maintained a Common Equity Tier 1 (CET1) capital ratio of 12.8% and reserve coverage for credit losses exceeding 10.3%, comfortably absorbing consumer charge-offs while returning over $2.0 billion to shareholders through growing regular dividends and aggressive share repurchases.
Revenue Trend Analysis
YoY Change
+8.8%
9-Year CAGR
+4.7%
Peak Year
2024
Trend
Consistent Growth
Synchrony Bank has 10 full fiscal year figures on this page, compounding at +4.7% annually over 9 years. The most recent year saw a 8.8% increase versus the prior year. Annual revenue peaked in fiscal year 2024 at $18.6B. Of 9 comparable year-over-year steps, 8 showed growth and 1 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Net Income | YoY Change |
|---|---|---|---|
| FY2024 | $18.6B | $3.1B | +8.8% |
| FY2023 | $17.1B | $2.2B | +9.3% |
| FY2022 | $15.6B | $3B | +7.3% |
| FY2021 | $14.6B | $4.2B | +1.3% |
| FY2020 | $14.4B | $1.4B | -12.3% |
| FY2019 | $16.4B | $3.8B | +4.8% |
| FY2018 | $15.7B | $2.8B | +7.4% |
| FY2017 | $14.6B | $1.9B | +7.8% |
| FY2016 | $13.5B | $2.3B | +10.1% |
| FY2015 | $12.3B | $2.2B | — |
Click any row to see year details.
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Synchrony Bank Revenue and Financial FAQ
What was Synchrony Bank's revenue in 2024?
Synchrony reported total net interest income and non-interest revenue of $18.60 billion in fiscal year 2024, representing an 8.8% increase compared to $17.09 billion reported in 2023.
What was Synchrony's net income in 2024?
Synchrony achieved net income attributable to shareholders of $3.15 billion in FY2024, delivering a solid 16.9% net profit margin on total revenues of $18.60 billion.
How does Synchrony Bank fund its consumer lending?
Synchrony funds its loan receivables primarily through its direct digital bank, gathering more than $80 billion in FDIC-insured consumer deposits without running physical bank branches.
Why is Synchrony's net interest margin (15.0%+) so much higher than commercial banks?
Private-label retail credit cards carry higher APRs reflecting unsecured consumer credit risk, generating double-digit yields that produce exceptional margins when funded by low-cost digital deposits.
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Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Synchrony Bank Revenue & Financials." CorpDigest, https://corpdigest.com/company/synchrony-bank/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Synchrony Bank reported $18.6B in revenue (FY2024).</strong><br>Source: <a href="https://corpdigest.com/company/synchrony-bank/financials" target="_blank" rel="noopener">CorpDigest — Synchrony Bank financials</a></div>Related Financial Audits
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