GE Capital

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GE Capital
TypeSubsidiary unit
IndustryFinancial services, aviation leasing, real estate
HeadquartersNorwalk, Connecticut, United States
Area servedWorldwide
Key peopleMichael A. Neal, Chairman and CEO
Net incomeIncrease US$ 006.5 billion (2011)
Total assetsIncrease US$ 584.5 billion (2011)
ParentGeneral Electric
DivisionsGE Money
Websitewww.gecapital.com
 
  (Redirected from GE Capital Bank)
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GE Capital
TypeSubsidiary unit
IndustryFinancial services, aviation leasing, real estate
HeadquartersNorwalk, Connecticut, United States
Area servedWorldwide
Key peopleMichael A. Neal, Chairman and CEO
Net incomeIncrease US$ 006.5 billion (2011)
Total assetsIncrease US$ 584.5 billion (2011)
ParentGeneral Electric
DivisionsGE Money
Websitewww.gecapital.com

GE Capital is the financial services unit of General Electric, one of five major units.[1]

Its various divisions include GE Capital Aviation Services, GE Capital Real Estate, GE Energy Financial Services and GE Money.

GE Capital provides commercial lending and leasing, as well as a range of financial services for health care, media, communications, entertainment, consumers, real estate, and aviation. GE Capital focuses primarily on loans and leases that it underwrites to hold on its own balance sheet rather than on generating fees by originating loans and leases, then selling them to third parties. Most of GE Capital's commercial loans are to small and mid-sized companies, spread across multiple industries and geographies and secured by tangible assets. More than 70% of GE Capital’s loans are under $100 million. GE Capital's consumer lending activities are also diversified by product and geography, and include operations in 55 countries.[2]

As of Q3 2009, GE Capital had 60,000+ employees worldwide, operating in more than 55 countries, with total assets of $551B. It was rated AA+ with stable outlook by S&P.[citation needed]

Contents

Operations

Czech Republic

GE Money Bank (formerly GE Capital Bank) is one of the largest financial institutions in the Czech Republic. It is a full-service bank with an extensive network of branches and ATMs. Its services focus both on retail clients and small and medium-sized enterprises. It was founded in 1997 after acquisition of Agrobanka bank as GE Capital Bank. In the year 2000 it changed the name to GE Money Bank. Its headquarters are located in Prague. Call center is operating from Ostrava.

Denmark

GE Money Bank Denmark (previously GE Capital Bank Denmark) offers credit cards, loans and financial solutions. Brand names include Acceptcard, Morecard and E-lån.

Federation of Bosnia and Herzegovina

Hong Kong

GE Capital is incorporated as a Restricted License Bank in Hong Kong. Major focus is in mortgages (homes and automobile) and personal loans.

Hungary

Budapest Bank, was established in 1987 as one of the first commercial banks when the two-tier banking system was created in Hungary. Since 1995, GE (General Electric Company) as owner provides solid background for the bank. Budapest Bank offers a full range of financial and banking services for consumers and small- and middle-sized businesses.

Latvia

GE Money Bank Latvia is a universal bank owned by GE in Latvia (merged from the former BTB bank and GE Money financial company[3]), offering loan and deposit products to both private and legal entities.

Netherlands

GE Artesia Bank, a part of GE Capitals subsidiary GE Commercial Finance, offers banking services to High-net-worth individuals as well as corporates in the Netherlands. It provides capital finance, long-term finance, leasing and finance for specific international trade transactions.

Norway

GE Money Bank Norge is a division of the Stockholm-based Swedish subsidiary GE Capital AB. It is a leading provider of consumer finance products in Norway with more than 300,000 clients and total lending of NOK 5 billion, second only to the major domestic bank DnB NOR.

It is the second bank in Norway to offer US style credit cards with zero annual/monthly fee and including a grace period, after Bankia Bank ASA. In the eighteen months following the launch of GE MasterCard in June 2001, the market increased to more than 100,000 US style credit cards. Before these cards, Norwegian banks only offered annual fee cards or cards with no interest free grace period.

Poland

Polish GE Money Bank S.A. is located in Gdańsk. After acquiring polish bank BPH SA and governing under its brand (31 Dec 2009) polish headquarters are located in three cities: Warsaw, Krakow and Gdansk.

Romania

In Romania GE Capital has two subsidiaries:

Russia

Russian GE Money Bank Russia is located in Moscow.

Sweden

The Swedish subsidiary is GE Capital Bank AB. Based in Stockholm, the bank trades as GE Money Bank.

Switzerland

GE Money Bank is the largest provider of small consumer credits in Switzerland. In 2006, the company partnered with Migros, allowing them to offer credit cards contracts through Migros.

United States

GE Capital Retail Bank is the name of GE's credit card-issuing bank in the United States.

For more information on GE Money Bank in the U.S., see GE Money.

Former operations

Austria

Austria's GE Money (formerly GE Capital Bank) was founded in 1994 after the successful acquisition and merger of Mercurbank and AVABANK. Today, it's one of Austria's leading consumer and auto finance businesses and a market leader in retail sales financing. Based in Vienna, with a network of branches throughout the country, the business provides a variety of innovative financial services including auto lending, private lending, sales finance and third party personal lending. The primary focus is on consumers, customers and business partners, such as car dealers, retailers and loan brokers.

The Austrian division was purchased, along with the German, Finnish and British store card operations of GE Money, by Grupo Santander in January 2009.[4]

References

  1. ^ GE Fact Sheet
  2. ^ [1]
  3. ^ About GE Money Bank Latvia Corporate website
  4. ^ Santander to buy GE Capital Bank Richard Fletcher: Daily Telegraph. 29 March 2008

External links