Synchrony Financial Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Announces Net Charge-Offs for the Fourth Quarter of 2015; Provides ROA Guidance for the Full Year of 2016
For the year, the company reported net interest income of $12,093 million compared to $11,320 million a year ago. Earnings before provision for income taxes were $3,531 million compared to $3,386 million a year ago. Net earnings attributable to common stockholders were $2,214 million compared to $2,109 million a year ago. Basic and diluted EPS was $2.66 compared to $2.78 a year ago. Book value per share was $15.12 compared to $12.57 a year ago. Tangible book value per share was $13.14 compared to $10.81 a year ago. Return on assets was 2.9% compared to 3.2% a year ago. Return on equity was 19.1% compared to 26.7% a year ago. Return on tangible common equity as 22.0% compared to 32.4% a year ago. Total interest income was $13,228 million compared to $12,242 million a year ago.
For the quarter, the company's net charge-offs were $697 million compared to $663 million a year ago.
For 2016, the company is expecting its ROA to be between 2.5% to 3.0%.