Synchrony Financial (NYSE: SYF) reported Q2 EPS of $0.58, $0.04 better than the analyst estimate of $0.54.

Balance Sheet

• Period-end loan receivables growth remained strong at 11%, primarily driven by purchase volume growth of 9% and average active account growth of 8%.
• Deposits grew to $46 billion, up $9 billion, or 23%, and comprised 71% of funding compared to 61% last year.
• Fully paid off Bank Term Loan on April 5, 2016.
• The Company’s balance sheet remained strong with total liquidity (liquid assets and undrawn securitization capacity) of $21 billion, or 25% of total assets.
• The estimated Common Equity Tier 1 ratio under Basel III subject to transition provisions was 18.5% and the estimated fully phased-in Common Equity Tier 1 ratio under Basel III was 18.0%.

Key Financial Metrics

• Return on assets was 2.4% and return on equity was 14.6%.
• Net interest margin increased 9 basis points to 15.86%.
• Efficiency ratio was 31.9%, a 157 basis point improvement from the second quarter of 2015, driven by positive operating leverage arising from strong revenue growth that exceeded expense growth.

For earnings history and earnings-related data on Synchrony Financial (SYF) click here.