GE Money is financial institution which offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans, and credit insurance. Recent news, The joint-stock company GE Money Bank is looking for an investor, and it is also possible that the bank will be sold.
GE Money considers several strategic possibilities, including selling the bank, just like any other company during various economic cycles. GE Money Bank has been looking for an investor already for several years, due to it not being able to fulfill its goals, according to the unofficial information.
GE Money's strategy is to increase company's production activities, including development of infrastructure and technology, and at the same time decreasing the proportion of financial services. The company will continue to consider various strategic possibilities as the market develops, a spokesperson for the bank, Kristine Circene.
GE Money is part of GE Capital operating division of General Electric. The division, headquartered in London, claims 130 million global customers. Six GE Money companies operate in Latvia – GE Money Bank, GE Money Open Pension Fund, GE Money Asset Management, GE Money, GE Money Latvia Holdings and Finstar Baltic. GE Money Bank posted LVL 16 million losses in the first nine months of 2010.
GE Money has a website www.gemoney.com where you can get about the company business and information.
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