Description: The following article is mainly about synchrony financial login. The author is going to talk about a fully standalone independent company from GE about Synchrony Financial. It is a big part to achieve for the overall company for 85 percent GE Capital.
Margaret is almost a year now since your company synchrony financial was spun off from GE Capital with all the news about GE Capital separating from General Electric, how does this impact your business?
The good news is that it is the part of Jeff Immelt strategy, it’s all along, he wanted to reduce the size of GE Capital, we were the first step in that our IPO, last July was the first step of beginning the process of getting the financial services outside of GE.
So if you listen to what Jeff is saying, we’re a big part of what they’re trying to achieve for the overall company, you’re still 85 percent owned by GE Capital correct, what happens next? So the steps are simple, we’re submitting an application to the Fed.
The Fed will do an infrastructure review to make sure we’re capable be standalone, once we do that, you’ll have the opportunity to trade your GE shares for shares in synchrony and once that happens, we’re a fully standalone independent company from GE.
A lot of people regard the financial performance of synchrony as a standalone company which is a test case for how GE Capital will do, when it goes solo, so how is synchrony doing on its own? So far, we’ve had three strong quarters, so we feel good about the overall performance of the business.
We announced earnings of 552 million in the first quarter which came in better than expecting it better than expected, we focused on a couple of things on the separation and building out the infrastructure, we’re more importantly focused on growth.
I think we have to achieve those growth numbers to be a successful company going forward, you are an amazing sized company out-of-the-box 12 billion dollars in revenues, your stock is up something more than 30 percent since the IPO.
What is the next step in terms of growth? What can you tell us? I think we think of girls and two key areas, the first is organic growth and we still have our biggest opportunity on an organic growth and that’s getting more penetration on our cards and our retailers and that’s probably the biggest opportunity we still have.
But then the other opportunity is growing and winning new partnerships and we look at that in two ways, winning the existing deals from competitors, but also doing start-ups, some of our better programs that we have today were start-up programs.