NYSE Shariah screener · October 2026

Is Synchrony Financial (SYF) Halal?

FAIL

Synchrony Financial · NYSE: SYF · Financials

The short answer

Synchrony Financial fails the Shariah business-activity gate: it is a consumer credit company whose core revenue is interest on loans ($22,601M, 118.2% of revenue), and total borrowings of $16,432M are 70.6% of its ~$23.27 billion market cap.

Gate 1 — Business activity: FAIL

Gate 1 — business activity: FAIL. Synchrony Financial, per its FY2025 Form 10-K, is a consumer financial services company headquartered in Stamford, Connecticut (spun off from GE in 2014), providing private-label and co-brand credit cards, promotional financing, installment loans, and savings products through partnerships with major national brands and hundreds of thousands of small and midsize businesses across retail, digital, health and wellness, telecommunications, home, auto, outdoor, pet, and other industries.

This is a consumer credit company: interest-based lending through credit cards and installment loans is the core business. Interest-based lending is the business, not an ancillary line. The business fails gate 1.

Gate 2 — Debt and cash: FAIL

Gate 2 — interest-bearing debt: FAIL (70.6%, ceiling 33%). Per Synchrony's Q2 2026 Form 10-Q consolidated balance sheet, total borrowings were about $16,432 million.

$16,432 million against a market capitalization of about $23.27 billion (Finnhub, October 2, 2026; NYSE: SYF) is about 70.6%, far over the 33% ceiling (the FY2025 basis was 65.2%, also over).

Gate 3 — Non-compliant income: FAIL

Gate 3 — non-compliant income: FAIL (118.2%, ceiling 5%). Synchrony's filings report interest income of $22,601 million (interest and fees on loans $21,698 million plus interest on cash and securities $903 million) against revenue of $19,116 million - about 118.2%, far over the 5% non-compliant income ceiling. (The ratio exceeds 100% because interest expense is reported as a separate line.)

Interest income is the core business revenue of a consumer lender. Expected for a conventional lender, and reported for the record.

Key figures used

Business: consumer financial services (Stamford CT; GE spin-off 2014) — private-label/co-brand credit cards, promotional financing, installment loans, savings; partnerships across retail, health, home, auto
Haram assessment: consumer credit company — interest-based lending is the core business (not an ancillary line); fails business-activity gate
Debt: $16,432M total borrowings (Q2 2026 10-Q) ÷ ~$23.27B market cap (Finnhub, Oct 2, 2026) = 70.6% — far over the 33% ceiling (FY2025 basis: 65.2%)
Interest income: $22,601M (interest/fees on loans $21,698M + interest on cash/securities $903M) ÷ $19,116M revenue = 118.2% — far over the 5% ceiling (interest expense is a separate line)
Market data: NYSE-listed (SYF); still listed on NYSE (confirmed October 2, 2026; Finnhub XNYS live quote; listed since 2014; no delisting; no ticker reassignment)
Corporate actions: $1.1B senior notes issued July 2026 ($600M 2030 + $500M 2037); executive changes June 2026
Third-party: Zoya flags SYF not Shariah-compliant — consistent with this FAIL; no verifiable Musaffa or ShariaPortfolio rating

Frequently asked questions

What does Synchrony Financial do?

Synchrony Financial (NYSE: SYF) is a consumer financial services company headquartered in Stamford, Connecticut, spun off from GE in 2014. Per its FY2025 Form 10-K and Q2 2026 Form 10-Q, it provides private-label and co-brand credit cards, promotional financing, installment loans, and savings products through partnerships with national brands and small-to-midsize businesses across retail, health and wellness, home, auto, and other industries.

Is Synchrony Financial's business Shariah compliant?

No - Synchrony Financial fails the business-activity gate. It is a consumer credit company: private-label and co-brand credit cards and installment lending are the core business. Interest-based consumer lending is the business, not an ancillary line. Assessed on the filed business description, the business fails this screener's first gate.

How much interest-bearing debt does Synchrony have?

Synchrony's Q2 2026 Form 10-Q reports total borrowings of about $16,432 million. Against a market capitalization of about $23.27 billion (Finnhub, October 2, 2026), that is about 70.6% - far over the 33% ceiling (the FY2025 basis was 65.2%, also over).

How much interest income does Synchrony earn?

Synchrony's filings report interest income of $22,601 million (interest and fees on loans $21,698 million plus interest on cash and securities $903 million) against revenue of $19,116 million - about 118.2%, far over the 5% non-compliant income ceiling. (The ratio exceeds 100% because interest expense is reported as a separate line.) Interest income is the core business revenue of a consumer lender. Expected, and reported for the record.

What do third-party Shariah screeners say about Synchrony?

Zoya flags SYF as not Shariah-compliant, consistent with this page's FAIL. I could not verify a Musaffa rating page for SYF or a ShariaPortfolio rating from public sources. Third-party screeners apply different assumptions and update on different schedules - always check the latest screening before investing.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).