March 01, 2017 2:13 PM ET

IT Services

Company Overview of GE Capital Business Processes Management Services Ltd.

Company Overview

GE Capital Business Processes Management Services Ltd. handles the technology and processing needs of SBI Card. The company was founded in 1998 and is based in Gurgaon, India. GE Capital Business Process Management Services Ltd. operates as a subsidiary of IGE USA Investments.

No. 90A Udyog Vihar

Sector-18

Gurgaon,  122015

India

Founded in 1998

Key Executives for GE Capital Business Processes Management Services Ltd.

GE Capital Business Processes Management Services Ltd. does not have any Key Executives recorded.

GE Capital Business Processes Management Services Ltd. Key Developments

SBI Reportedly To Hike Stake In Two Credit Card Joint Ventures

State Bank of India (NSEI:SBIN) is reportedly seeking to increase its stake in its two credit-card joint ventures with General Electric Company (NYSE:GE), three people with direct knowledge of the plan told The Economic Times. The State Bank of India wants to increase its stake to at least 51% from 40% in GE Capital Business Processes Management Services Ltd. and to 74% from 60% in SBI Cards and Payment Services Private Limited. “The institutional and strategic bidders will now get a minority stake in the company as SBI wants to gain significant control of the business,” said one of three persons mentioned above. State Bank of India’s financial business in India, too, is a candidate for divestment, and the process has been on for the past six months. Barclays PLC (LSE:BARC) is advising State Bank of India on the proposed transaction, while Morgan Stanley (NYSE:MS) is helping General Electric Company. "SBI has expressed its interest to raise stake in both the joint ventures. This option is now looked at," another person apart from the source quoted above told ET. "In the back end, it would definitely be 51%, or even more." SBI and GE spokespersons, did not respond to e-mailed queries.

SBI May Raise Stake In SBICPSL And GECBPMSL

State Bank of India (NSEI:SBIN) is in talks to increase its stake in its credit card joint venture SBI Cards and Payment Services Private Limited (SBICPSL) as well as find a new strategic partner to replace existing partner GE Capital Services India Limited during the first quarter of 2017. State Bank of India will zero in on a new partner to replace GE Capital in GE Capital Business Processes Management Services Ltd. (GECBPMSL) which takes care of the technology and processing needs of SBI Card. SBI holds 60% stake in SBICPSL and 40% in GECBPMSL with the balance being held by GE Capital in both the ventures.

GE Cap's Reportedly Looking To Sell

Mizuho Financial Group, Inc. (TSE:8411) & Credit Saison Co. Ltd. (TSE:8253) keeps eye to acquire stakes in GE Capital Transportation Financial Services Ltd stakes in two companies named SBI Cards & Payment Services Private Limited and GE Capital Business Processes Management Services Ltd. Carlyle is also among the shortlisted bidder for stakes that GE Capital holds in two different companies.

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