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BRIEF-Synchrony Financial reports Q2 net earnings of $496 mln or EPS $0.61
July 21, 2017 / 11:05 AM / 4 months ago

BRIEF-Synchrony Financial reports Q2 net earnings of $496 mln or EPS $0.61

July 21 (Reuters) - Synchrony Financial

* Synchrony Financial reports second quarter net earnings of $496 million or $0.61 per diluted share

* Q2 earnings per share $0.61

* Q2 earnings per share view $0.57 -- Thomson Reuters I/B/E/S

* Synchrony financial qtrly net interest income increased 13% from Q2 of 2016 to $3.6 billion

* Synchrony Financial - new capital plan increasing quarterly common stock dividend to $0.15 per share

* Synchrony Financial qtrly provision for loan losses increased $305 million to $1,326 million driven by credit normalization and loan receivables growth

* Synchrony Financial - new capital plan increasing share repurchases of up to $1.64 billion of synchrony financial common stock

* Synchrony Financial quarter-end estimated common equity tier 1 ratio under basel iii subject to transition provisions was 17.4%

* Synchrony Financial quarter-end estimated fully phased-in common equity tier 1 ratio under basel iii was 17.2%

* Synchrony Financial qtrly net interest margin increased 26 basis points to 16.20%

* Synchrony Financial qtrly net charge-offs as a percentage of total average loan receivables were 5.42 percent compared to 4.51 percent last year Source text for Eikon: Further company coverage: ))

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