Synchrony Financial Investor Relations Material

Synchrony Financial is an American consumer financial services company, primarily focusing on the U.S. market. Synchrony provides a range of credit products through its partnerships with retailers, manufacturers, healthcare providers, and other businesses. These products mainly include private-label credit cards, dual cards, and general-purpose co-branded credit cards. Additionally, Synchrony offers promotional financing, installment lending, loyalty services, and more. The company is headquartered in Stamford, Connecticut, and its shares are traded on the NYSE.

Synchrony Financial originates from GE Capital Retail Finance, which was founded in 1932 when General Electric began offering consumer financing. Over the decades, GE Capital expanded its services, evolving into a key player in consumer credit. In 2014, GE restructured, leading to the spin-off of its North American retail finance business as Synchrony Financial. This move was part of GE's strategy to reduce reliance on its financial arm and focus on its industrial core. Since then Synchrony Financial has become an established player in private-label credit cards, store-branded cards, and consumer financial services, offering similar services and products as companies such as American Express and Capital One.

Synchrony Financial's core business is centered around consumer financial services, with a strong emphasis on offering credit products. It is a leading issuer of private label credit cards in the United States, catering to a wide array of retail sectors including home furnishings, electronics, and healthcare. These credit products include store-branded cards, dual cards, and general-purpose co-branded credit cards, which are developed in partnership with major retailers and service providers. In addition to credit card services, Synchrony Financial specializes in promotional financing and installment lending. The company also owns and operates a banking subsidiary.

Synchrony Bank, the aforementioned banking subsidiary of the parent company, specializes in offering online savings products. It provides high-yield savings accounts, which generally have higher interest rates than traditional ones. The bank also offers certificates of deposit (CDs) with various terms for fixed interest rate savings, and money market accounts that blend features of savings and checking accounts.