April 22, 2018 3:10 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 Processes Management Services Ltd. is a former subsidiary of GE Capital Global Holdings, LLC.

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 May Merge Credit Card JVs

State Bank of India (NSEI:SBIN) may look at merging the two companies of its credit card joint venture SBI Card after the exit of GE Capital. SBI Card is a joint venture between SBI and GE Capital, wherein SBI owns 60% and the balance is being held by GE Capital, which has announced its plans to exit as part of its global business revamp. SBI Card is operated through joint-venture companies SBI Cards and Payment Services Private Limited and GE Capital Business Processes Management Services Ltd., which handles the backend technology and processing needs of SBI Card.

Carlyle Reportedly Frontrunner To Buy 26% Stake In SBI Cards

The Carlyle Group LP (NasdaqGS:CG) has emerged as the frontrunner to partner State Bank of India (NSEI:SBIN) in its credit cards business and replace long term partner GE Capital, said multiple sources aware of the matter. Ending months of negotiations, the preferred partner was shortlisted late last week, ahead of Credit Saison Co.,Ltd. and US private equity group Warburg Pincus LLC for the 26% stakes in each of the 2 joint venture entities that together form the SBI cards business, valuing India's second -largest credit card player at close to INR 70.3 billion. Carlyle had tied up with Cognizant Technologies. Cognizant will however not bring in any equity but only provide technology support as a preferred vendor, added sources mentioned above. Carlyle and Cognizant declined to comment. The SBI Cards and Payment Services Private Limited joint venture operates through two companies, SBI Cards & Payment Services and GE Capital Business Processes Management Services Ltd.

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.

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