21 Facts About GE Capital


GE Capital is the financial services division of General Electric.

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In 2014, GE Capital had 35,000+ employees worldwide, operating in more than 40 countries, with total assets of US$499 billion.

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GE Capital provided car, boat, personal and consolidation loans, credit cards, mortgages and insurance.

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In 2015, GE Capital sold its Australian and New Zealand business to a consortium led by Deutsche Bank, KKR and Varde Partners.

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Austria's GE Money was founded in 1994 after the successful acquisition and merger of Mercurbank and AVABANK.

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GE Capital sold GE Money Bank France to Cerberus Capital Management in 2016.

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GE Capital was incorporated as a Restricted License Bank in Hong Kong.

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GE Capital sold its Hong Kong operations to Standard Chartered.

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GE Capital sold its Indian housing finance business to Magma Fincorp; in 2012, it sold the remains loan portfolio to cliq capital, and exited the credit card joint venture SBI Card with State Bank of India, leaving SBI in place.

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In 2008, GE Capital acquired Interbanca, a merchant banking firm from Banco Santander, in exchange for GE Capital businesses in Germany, Finland, Austria, and the UK.

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In 2015, GE Capital sold its Australian and New Zealand business to a consortium led by Deutsche Bank, Kohlberg Kravis Roberts, and Varde Partners.

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GE Capital retained the Bank BPH legal entity, including its mortgage business.

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GE Capital sold its Romanian operations to Garanti Bank in 2010.

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GE Capital provided retail consumer financing solutions, such as private label credit cards, dual card, flex loans, and all-tender loyalty and gift cards; It offered its products and services through dealers, retailers, associations, contractors, manufacturers, healthcare practices, and service providers.

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GE Capital was formerly known as GE Money Bank and changed its name to GE Capital Retail Bank in October 2011.

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GE Capital provided credit services solely to businesses and merchants in the United States, and acts as a multi-product commercial finance bank, and uses deposit Accounts to fund commercial loans and leases.

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GE Capital served various industries, such as automotive, consumer electronics, flooring, healthcare, home furnishings and improvement, HVAC, elective health care, jewelry, landscaping and irrigation, luxury goods, marine, music, outdoor power equipment, pool and spa, power sports, recreation vehicle, sewing, sporting goods, travel, vacuum, and water treatment industries.

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GE Capital Bank was a member of the Federal Deposit Insurance Corporation.

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The lawsuit claimed that GE Capital was required by law to file the agreements with bankruptcy courts and did not do so.

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On March 13,2014, GE Capital announced that it would spin its North American consumer finance division off under the new name Synchrony Financial through an initial public offering.

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GE Capital reached an agreement to sell the majority of its property business to Wells Fargo and Blackstone, valued at $26.

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