Synchrony Financial posted fourth-quarter 2016 net earnings attributable to common shareholders of $576 million, or 70 cents per share, up from $547 million, or 65 cents per share, in the prior-year quarter.

The S&P Capital IQ consensus GAAP EPS estimate for the quarter was 67 cents.

Fourth-quarter 2016 net interest income climbed 13.1% year over year to $3.63 billion from $3.21 billion, primarily driven by strong loan receivables growth. Net interest income after retailer share arrangements increased 13.9%.

Period-end receivables grew 11.8% to $76.34 billion in the fourth quarter of 2016 from $68.29 billion in the prior-year period. Purchase volume growth of 9% and average active account growth of 5.9% drove period-end receivables growth.

Net charge-offs as percentage of total average loan receivables, including held for sale, were 4.62% for the most recent quarter, compared with 4.23% in the year-ago quarter.

Provision for loan losses increased 30.7% year over year to $1.08 billion from $823 million because of higher loan loss reserve build and loan receivables growth.

The company repurchased $238 million of its common shares during the fourth quarter of 2016.

For full year 2016, the company reported net earnings attributable to common shareholders of $2.25 billion, or $2.71 per share, compared with $2.21 billion, or $2.65 per share, in the prior year.

The S&P Capital IQ consensus GAAP EPS estimate for the year was $2.68.