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For Immediate Release Synchrony Financial ( NYSE : SYF ) October 19 , 2021 THIRD QUARTER 2021 RESULTS AND KEY METRICS 17.1 % $ 1.4B CET1 Ratio Capital Returned 4.9 % Return on Assets $ 79.8B Loans includes Loan Receivables of $ 76.4B and loans HFS of $ 3.5B ● 100⁰⁰ Net Earnings of $ 1.1 Billion or $ 2.00 Per Diluted Share , including a $ 0.33 benefit from the reserve release related to the reclassification of the Gap portfolio to held for sale Double - Digit Growth in New Accounts and Purchase Volume Continued Strength in Credit Performance Contributed to a 98 % Decrease in Provision for Credit Losses STAMFORD , Conn . - Synchrony Financial ( NYSE : SYF ) today announced third quarter 2021 net earnings of $ 1.1 billion , or $ 2.00 per diluted share , compared to $ 313 million , or $ 0.52 per diluted share in the third quarter 2020. Third quarter 2021 net earnings included a $ 187 million post - tax benefit , or $ 0.33 per diluted share , from the reserve release related to the reclassification of the Gap portfolio to held for sale . KEY OPERATING & FINANCIAL METRICS * STRONG NET EARNINGS DRIVEN BY HEALTHY CONSUMER , AS REFLECTED IN PURCHASE VOLUME GROWTH AND CREDIT TRENDS Purchase volume increased 16 % to $ 41.9 billion Loans of $ 79.8 billion , including $ 76.4 billion of loan receivables and $ 3.5 billion of loan receivables held for sale , increased 2 % Average active accounts increased 5 % to 67.2 million New accounts increased 17 % to 6.2 million Net interest margin increased 165 basis points to 15.45 % Efficiency ratio decreased 100 basis points to 38.7 % Net earnings of $ 1.1 billion , or $ 2.00 per diluted share , including a $ 0.33 per diluted share benefit from the reserve release related to the reclassification of the Gap portfolio to held for sale , compared to $ 313 million , or $ 0.52 per diluted share Return on assets increased 4 percentage points to 4.9 % Return on equity increased 22 percentage points to 32.1 % synchrony CEO COMMENTARY " Our strategic focus on growing existing programs and reaching new markets combined with our expansion into new products and distribution channels , is powering strong performance , " said Brian Doubles , Synchrony's President and Chief Executive Officer . " The combination of our data driven insights , seamlessly customized experiences and industry - leading product suite empowers both our partners and customers with choice and delivers compelling outcomes for all our stakeholders . " As we continue to invest in digital innovation , the expansion of our distribution networks and the evolution of our offerings to address the ever - changing consumer landscape , Synchrony will continue to reach and serve more partners and customers , solidifying our position as the partner of choice for a diverse universe of partners . "