Synchrony Financial (NYSE:SYF) was established in 2003 and is headquartered in Stamford, Connecticut, USA. It has 15,000 full-time employees and is a well-known consumer financial services company.
Synchrony Financial (SYF):
Synchrony Financial is a consumer financial services company in the United States. The company provides a series of credit products for different groups. Its service targets include national and regional retailers, regional merchants, manufacturers, purchasing groups, industry associations, and healthcare service providers.
Synchrony Financial provides individuals with credit cards, dual-card (additional card) credit cards, installment loans, and credit products for small and medium enterprises. In addition, SYF also provides selective medical financing solutions for private individuals, such as: dental, veterinary, cosmetics, vision, hearing, etc. Other services and products also include: debt relief products, deposit products, individual retirement accounts, money market accounts, savings accounts and other services.
Synchrony Financial mainly sells its credit products through online advertising, print and radio advertisements. In addition, SYF also cooperates with a number of national and regional retailers, local businesses, manufacturers, purchasing groups, industry associations, and healthcare Service cooperation to promote their own credit services.
As of December 31, 2013, SYF had US$57.3 billion in loan receivables and 62 million active accounts. For the three months ended March 31, 2014, SYF had US$54.3 billion in loan receivables and 57.3 million active accounts. The company was spun off from General Electric in July 2014 and went public independently. The $2.88 billion in primary market fundraising made it the largest IPO in 2014.
As of November 17, 2015, Synchrony Financial operates independently of GE Consumer Finance, Inc.
Update February 2016 : In the fourth quarter of 2015, Soros Fund Soros Fund bought Synchrony Financial stocks, holding 7,127,865 shares, valued at US$216 million, and is Soros Fund’s second largest stock.
August 2017 update : the second quarter, Wall Street heavyweights Warren Buffett’s Berkshire Hathaway massive buying 1746 shares.