What Company Owns Synchrony Bank?

What Company Owns Synchrony Bank?

Synchrony Bank is a popular online bank in the United States that offers a range of financial products and services, including savings and money market accounts, CDs,credit cards, and personal loans. The bank has gained a reputation for providing competitive interest rates and excellent customer service, making it a top choice for many consumers. However, many people may wonder who actually owns Synchrony Bank. In this article, we will explore the answer to this question in detail.

Synchrony Financial

Synchrony Bank is owned by Synchrony Financial, a leading consumerfinancial servicescompany based in Stamford, Connecticut. Synchrony Financial was originally part of General Electric (GE) and was known as GE Capital Retail Finance. However, in 2014, Synchrony Financial became an independent publicly traded company and began trading on the New York Stock Exchange under the ticker symbol SYF.

Synchrony Financial operates in four main business segments: Retail Card, Payment Solutions, CareCredit, and Other. The Retail Card segment provides private label credit cards for retailers in a range of industries, including home furnishings, appliances, and jewelry. The Payment Solutions segment offers credit products and services for small and medium-sized businesses. The CareCredit segment provides financing options for healthcare expenses not covered by insurance, such as dental and veterinary care. Finally, the Other segment includes the bank's other business activities, such as deposit products and financing for elective healthcare procedures.

Synchrony Financial's Business Model

Synchrony Financial's business model is based on providing financing solutions for consumers through its various business segments. The company partners with retailers, healthcare providers, and other businesses to offer private label credit cards and other financing options to their customers. Synchrony Financial earns revenue through interest and fees charged on these credit products.

Synchrony Financial has a strong track record of growth and profitability. In 2020, the company reported net earnings of $1.6 billion on net interest income of $12.7 billion. The company also has a strong balance sheet, with total assets of $83.9 billion and total equity of $16.5 billion as of December 31, 2020.

Investing in Synchrony Financial

For investors interested in Synchrony Financial, the company offers an attractiveinvestmentopportunity. The company has a strong market position in its various business segments and a proven track record of growth and profitability. Additionally, the company pays a quarterly dividend, which currently yields around 2.5%. However, as with any investment, it is important to carefully evaluate the risks and potential rewards before investing in Synchrony Financial or any other company.

Conclusion

In summary, Synchrony Bank is owned by Synchrony Financial, a leading consumer financial services company based in Connecticut. Synchrony Financial operates in four main business segments and has a strong track record of growth and profitability. Investors interested in Synchrony Financial can consider investing in the company for potential long-term gains.