Diversified Financial Services
Company Overview of General Electric Capital Corporation
General Electric Capital Corporation provides various financial products and services worldwide. The company’s Commercial Lending and Leasing segment offers secured commercial loans, equipment financing, and other financial services to companies in a range of industries, including construction, retail, manufacturing, transportation, media, communications, technology, and healthcare, as well as industrial, medical, fleet vehicle, corporate construction, office imaging, and various other equipment types. Its Consumer segment provides private-label credit cards, personal loans, bank cards, auto loans and leases, mortgages, debt consolidation, home equity loans, deposit and other savings product...
901 Main Avenue
Norwalk, CT 06851
Founded in 1932
Key Executives for General Electric Capital Corporation
Chairman and Chief Executive Officer
President and Chief Operating Officer
President, Modular Space Division
Chief Financial Officer and Director
Chief Executive Officer of GE Japan Corporation, President of GE Japan Corporation and Senior Vice President of GE
Compensation as of Fiscal Year 2014.
General Electric Capital Corporation Key Developments
General Electric Capital Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015
Apr 17 15
General Electric Capital Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company's total revenues were $5,982 million compared with $9,885 million a year ago. Loss from continuing operations before income taxes was $6,301 million compared with earnings of $2,005 million a year ago. Loss from continuing operations was $12,453 million compared with earnings of $1,704 million a year ago. Net loss attributable to the company common shareowner was $14,745 million compared with earnings of $1,945 million a year ago. Net loss from continuing operations attributable to the company common shareowner was $12,544 million compared with earnings of $1,693 million a year ago.
Element Financial Reportedly Mulls Acquisition Of GE Capital's Asset
Apr 14 15
Element Financial Corporation (TSX:EFN) reportedly is seeking acquisition of assets of General Electric Capital Corporation.
General Electric To Divest Most Of GE Capital Assets
Apr 10 15
General Electric Company (NYSE:GE) announced that it will create a simpler, more valuable company by reducing the size of its financial businesses through the sale of most GE Capital assets and by focusing on continued investment and growth in its world-class industrial businesses. GE and its Board of Directors have determined that market conditions are favorable to pursue disposition of most General Electric Capital Corporation (GE Capital) assets over the next 24 months except the financing “verticals” that relate to GE’s industrial businesses. Under the plan, the GE Capital businesses that will remain with GE will account for about $90 billion in ending net investments (ENI) excluding liquidity – about $40 billion in the U.S. – with expected returns in excess of their cost of capital. “The successful IPO of GE’s retail finance business, Synchrony Financial, and other recent business exits have demonstrated that our financial services assets can be more valuable to others,” said GE Capital Chairman and CEO Keith Sherin. “GE Capital’s businesses are excellent, and this is a great market for selling financial assets. Our people are world-class. We are confident these businesses will thrive elsewhere.” GE Capital has been an important part of the history of GE. However, the business model for large, wholesale-funded financial companies has changed, making it increasingly difficult to generate acceptable returns going forward. GE will retain its “vertical” financing businesses – GE Capital Aviation Services, Energy Financial Services and Healthcare Equipment Finance – that directly relate to its core industrial businesses. The assets targeted for disposition, in addition to Real Estate, are most of the Commercial Lending and Leasing segment, and all Consumer platforms, including all U.S. and international banking assets.
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