: Synchrony Financial’s February loan delinquencies, net charge-offs rise from last month and from a year ago

Synchrony Financial SYF disclosed Wednesday that over-30 day loan delinquencies and and net charge-offs, or debt owed that was written off, as a percentage of loan receivables for February rose from January and from a year ago, which the consumer financial services company said just reflected the “normalization of credit trends.” The company said loan delinquencies was at 3.9% in February, compared with 3.8% in January and 2.9% a year ago. Net charge-offs were 4.7% in February, up from 4.2% in January and from 2.8% a year ago. Meanwhile, loan receivables were $90.7 billion in February, down 0.9% from $91.5 billion in January but up 15.5% from a year ago. The stock, which was indicated down more than 2% in premarket trading, has lost 9.3% over the past three months while the S&P 500 SPX has gained 0.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.