Thanks, Brian, and good morning, everyone.
Margaret I want for for Brian thank and them they to for for congratulate I to Synchrony the when in them and in I I Before with say have company the on chapter speak begin, new closely personally. me working for forward their Synchrony. and done we what roles look next everyone
begin frontlines. being pandemic, to inspired and in made be we encouraged by the As XXXX, continue developments fight the the we're by those to
focus, and values partners, centric eye towards and and the dedicated of and our this an our part, the are communities our customers difficult help to to during the to we remain with constituents the For navigate guided helping overcome ahead opportunities future in partner we safe, environment as our pandemic. our this period, us we working keeping principles by begin with employees
the quarter, noted our During fourth impact X. on as areas, continued the Slide on growth pandemic several to
they have during X% from was from accounts and as essentially services, and continued we quarter, our and pandemic purchase some our significant appliances certain flat, home down to a co-branded industries versus benefiting of services, from line cards XX% consistent on XX% and restrictions year, average of relative fourth and home shutdowns be However, decrease down receivable loan our against year prior declined a new the the products continue and economic with portfolio digital Payment the normalized the which the for declined Interest and The the to caused and mix, quarter. in such decrease account account active staying quarter. despite of line On pressure were X% loan Dual the and basis, some receivables volume year. elevated rates last and veterinary XX% includes in downturn. our as from the electronics business of quarter down of related expectations prior Purchase in fees at a core effects component from to the X%. for levels. last and last loans with pressure the progressed XX% be experienced for outbalanced XX% year.
in acceleration and the CARES our as shutdowns the the growth diminished early slowed of we effects we're positive seeing in While trending Act metric stimulus of enter quarter, that the resulted pandemic regional momentum.
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platform Moving to our X. Slide results on
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credit our Slide XX. Next, I'll key trends cover on
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Slide to Moving XX.
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transition the March, that in details joint issued provide to primary I agencies position, should federal the elected on our be banking which had benefit take it the Before X by rules capital noted of we benefits.
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we quarter, a common share. the paid During stock dividend of $X.XX per
$X.X the share full of returned we form For dividends. the repurchases year, approximately shareholders common in and billion stock to
in XXXX, our in potential capital pandemic. restrictions the XXXX finish including the as we point XXXX, this enter capital quarter. business have plan, repurchases beginning well the authorized With Repurchases subject $X.X to ongoing backdrop, of any for and the from of share and overall and to liquidity continued As billion we pandemic. our regulatory deterioration Board market at in and first stability are the as conditions, assess this the has company the strength
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year providing we our thinking today. While of might is about in we the largely economic visibility the and our pandemic and In about is the from are how as pressure best unfold this second continuing is assessment on there under control the limited, half, These the accelerates. based views pandemic slow year, assume recovery we're framework that recovery. a the economic assume of half first
the is quarter consistent expected the XXXX. be of to First trends volume developed purchase end with at that
second experienced 'XX. obviously quarter trough will the economic comparisons quarter Second reflect in
anticipate the improving as moderate impact macroeconomic The second growth year, pandemic trends half accelerates. and of we the growth
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XXXX. interest continued as net improvement overall, For we margin, we expect enter
delinquencies net partially RSAs, offset higher reserves credit in contribute the reduced net half impacts which the asset the net strong Regarding excess generally the liquidity that elevated growth continued delinquencies in normalized quarter and as increasing to from result the in will by release excess mix. fee in by RSAs respect higher performance, to asset peak on through the the In leading revenue lower and first largely macroeconomic increases expected growth occurring remain view to quarter develops. asset primarily driven the reflecting revenue. the and drive expect year, rates for half, slowing our increase scenario. including yields charge-offs. credit We changes charge-offs, half program payment during are to sequential improvement would in be we with liquidity third interest first second XXXX the is XXXX expect higher and and credit the charge-offs. to In will any second impacting reflecting anticipate we payment macroeconomic We With NIM. anticipate a reserve rates, half, in environment
increase organization. year. this we've reductions increases expense to in believe outlined we in We cost of anticipated accounts. reductions addition the approximately implemented in As be the Partially million $XXX previously, across reductions expense result will to relating cost delinquent offsetting during growth will the these
We will how and landscape continue as its to and adjust impact macroeconomic monitor develops to the unfolds. pandemic environment the the closely
position the optimistic of remain business XXXX, period meet to we strength the strategic our than exit the and in we the enter we pandemic when entered. in challenges and As a position stronger
while of our safety our technology now call partners, continue the to the people, to turn and of our ensure the begin call. providers products, investments make platforms to operator will to to long-term continue portion and will value cardholders. I the We our over and meeting in needs Q&A drive merchants, of employees,
