|Industry||Financial services, aviation leasing, real estate|
|Headquarters||Norwalk, Connecticut, United States|
|Key people||Michael A. Neal, Chairman and CEO|
|Revenue||US$ 44 billion (2013)|
|Net income||US$ 8.3 billion (2013)|
|Total assets||US$ 514 billion (2013)|
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 $100 million. GE Capital's consumer lending activities are also diversified by product and geography, and include operations in 55 countries.
As of Q3 2009, GE Capital had 60,000+ employees worldwide, operating in more than 55 countries, with total assets of US$ 551 billion. It was rated AA+ with stable outlook by S&P.
- 1 Operations
- 2 Former operations
- 3 Legal Issues
- 4 References
- 5 External links
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.
GE Money Bank Denmark (previously GE Capital Bank Denmark) offers credit cards, loans and financial solutions. Brand names include Acceptcard, Morecard and E-lån.
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GE Money Bank France is born from the acquisition by GE of Crédit de l'Est and SOVAC in 1995. It provides real-estate mortgages and auto loans.
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.
GE Money Bank Latvia is a universal bank owned by GE in Latvia (merged from the former BTB bank and GE Money financial company), offering loan and deposit products to both private and legal entities.
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.
GE Finance and insurance, trading as GE Money, is a registered financial service provider in New Zealand that provides consumer finance, personal loans and insurance products.
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.
Polish GE Money Bank S.A. is located in Gdańsk. After acquiring the Polish bank BPH SA and governing under its brand (31 Dec 2009) Polish headquarters are located in three cities: Warsaw, Krakow and Gdansk.
In Romania GE Capital has two subsidiaries:
- GE Money, a personal finance and leasing company.
- GE Garanti Bank, a bank detained by GE Capital in a joint venture with Garanti Bank International from Turkey. GE Garanti is located in Bucharest.
Russian GE Money Bank Russia is located in Moscow.
The Swedish subsidiary is GE Capital Bank AB. Based in Stockholm, the bank trades as GE Money Bank.
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.
GE Capital Retail Bank provides retail banking and credit services to consumers, businesses, merchants, and retailers in the United States and internationally. It offers retail sales finance, such as private label credit card programs, installment lending, bankcards, and financial services for consumers, retailers, manufacturers, and health-care providers, as well as offers financing programs to dealers, retailers, associations, contractors, and service providers. The company also provides retail consumer financing solutions, such as private label credit cards, dual card, flex loans, and all-tender loyalty and gift cards; and business credit services, including business process outsourcing of open account trade credit, private label revolving credit programs, receivables financing, and inventory financing. In addition, GE Capital Retail Bank offers a range of financial products, including personal loans, mortgages, debt consolidation, home equity loans and credit insurance, and credit protection products. Further, it provides support services, including cardholder and dealer services, credit training, online, quality, and legal/compliance services. The company serves 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. It offers its products and services through dealers, retailers, associations, contractors, manufacturers, healthcare practices, and service providers. The company was formerly known as GE Money Bank and changed its name to GE Capital Retail Bank in October 2011. The company was founded in 1988 and is based in Draper, Utah. GE Capital Retail Bank operates as a subsidiary of General Electric Capital Corporation.
For more information on GE Money Bank in the U.S., see GE Money.
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.
In April 1997, a lawsuit against General Electric Capital Corp. was filed on behalf of the company customers that filed bankruptcy. The GE Capital Corp. was accused of unfair debt collection practices. The class action lawsuit resulted in $100 million settlement with over 100,000 class members from 50 states.  Plaintiffs claimed that the company solicited agreements from bankrupt debtors to repay their credit card debts but failed to notify bankruptcy court the agreement. Those reaffirmation agreements legally required the debtors to continue paying off their debt in exchange for keeping the credit card, even though bankruptcy erases credit card debts. The lawsuit claimed that GE Capital was required by law to file the agreements with bankruptcy courts and did not do so. As part of the settlement, the company agreed to refund, with interest, all credit card payments made after debtors entered into the reaffirmation agreements between January 1, 1993, and June 30, 1997. GE Capital Corp. also promised to advise credit bureaus to correct any negative credit reports related to class members’ failure to repay reaffirmed debt. 
|Wikimedia Commons has media related to GE Money Bank.|
- GE Fact Sheet
- S&P rates GE Capital Corp. notes 'AA+'
- GE Money Bank France corporate website
- About GE Money Bank Latvia Corporate website
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- MetLife to Sell Bank Unit to GE Capital
- Santander to buy GE Capital Bank Richard Fletcher: Daily Telegraph. 29 March 2008
- Cerone, Rudy J.; Greendyke, William R.; Redmiles, Mark A.; Rhodes, Steven W. (2008), "Mortgage Industry: Who Really Holds the Paper and How Much Is Really Due? Proof and Accounting Issues", American Bankruptcy Institute: 44
- "$100 million settlement approved in GE suit".