GE Capital Bank
Encyclopedia

GE Capital Bank is a brand of GE Money, itself part of the General Electric Company
General Electric
General Electric Company , or GE, is an American multinational conglomerate corporation incorporated in Schenectady, New York and headquartered in Fairfield, Connecticut, United States...

.

The brand is used as the name of seven banking divisions and subsidiaries in Austria, Federation of Bosnia and Herzegovina, France, Hungary, Hong Kong, Norway, Poland, Portugal, Romania, Russia, Sweden, Switzerland and the United Kingdom. GE Consumer Finance is rebranding its banks as GE Money Bank worldwide.

Austria

Austria's GE Money (formely 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.

The Austrian division was purchased along with the German, Finnish and British companies by Grupo Santander
Grupo Santander
The Santander Group is a banking group centered on Banco Santander, S.A., the largest bank in the Eurozone and one of the largest banks in the world in terms of market capitalisation. According to Forbes Magazine Global 2000, it is the 13th largest public company in the world...

 in January 2009.

Czech Republic

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
Ostrava
Ostrava is the third largest city in the Czech Republic and the second largest urban agglomeration after Prague. Located close to the Polish border, it is also the administrative center of the Moravian-Silesian Region and of the Municipality with Extended Competence. Ostrava was candidate for the...

.

Denmark

GE Money Bank Denmark (previously GE Capital Bank Denmark) offers credit cards, loans and financial solutions. Brand names include Acceptcard, Morecard and E-lån.

Hong Kong

GE Capital is incorporated as a Restricted License Bank in Hong Kong. Major focus is in mortgages (homes and automobile) and personal loans.

Hungary

Budapest Bank, the member of the GE Money group is a bank owned by GE in Hungary, offering credit card and store cards.

Latvia

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.

Norway

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
DnB NOR
DNB ASA is Norway's largest financial services group with total combined assets of more than NOK 2.0 trillion and a market capitalisation NOK 102 billion as per December the 31st. The Group includes brands such as DNB, Vital, Nordlandsbanken, Cresco, Postbanken, DnB NORD and Carlson...

.

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
Bankia bank
- History :Originally established in Oslo, Norway in 2001 by four individuals; Tor Erland Fyksen, Jan Grenth, Eirik Holtedahl, and Raimond Pettersen, having raised approx. USD 20 million from Norwegian investors. Its customer base was sold to a Spanish Financial Institution in Spring 2005 for ,...

 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.

Poland

Polish GE Money Bank S.A. is located in Gdańsk
Gdansk
Gdańsk is a Polish city on the Baltic coast, at the centre of the country's fourth-largest metropolitan area.The city lies on the southern edge of Gdańsk Bay , in a conurbation with the city of Gdynia, spa town of Sopot, and suburban communities, which together form a metropolitan area called the...

. After acquiring polish bank BPH SA and governing under its brand (31 Dec 2009) polish headquarties are located in three cities: Warsaw, Krakow and Gdansk

Romania

In Romania GE Capital has two subsidiaries:
- GE Money it is a personal finance and leasing company.
- GE Garanti Bank it is a bank detained by GE Capital in a joint venture with Garanti Bank International from Turkey. GE Garanti is located in Bucharest.

Sweden

The Swedish subsidiary is GE Capital Bank AB. Based in Stockholm, the bank trades as GE Money Bank.

Switzerland

GE Money Bank is the largest provider of small consumer credits in Switzerland. In 2006, the company partnered with Migros
Migros
Migros is one of Switzerland's largest enterprises, its largest supermarket chain and largest employer. It co-founded Turkey's largest retailer, Migros Türk, which became independent of Migros Switzerland in 1975....

, allowing them to offer credit cards contracts through Migros.

United Kingdom

GE Capital Bank Limited, trading as GE Money, offers credit cards and store cards for companies including Laura Ashley
Laura Ashley plc
Laura Ashley plc is a British textile design company now controlled by the MUI Group of Malaysia. It was founded by Bernard Ashley, an engineer, and his wife Laura Ashley in 1953 then grew over the next 20 years„“ to become an international retail chain. Sales totalled over £276 million in 2000...

, Debenhams
Debenhams
Debenhams plc is a British retailer operating under a department store format in the UK, Ireland and Denmark, and franchise stores in other countries. The Company was founded in the eighteenth century as a single store in London and has now grown to around 160 shops...

 and Harrods
Harrods
Harrods is an upmarket department store located in Brompton Road in Brompton, in the Royal Borough of Kensington and Chelsea, London. The Harrods brand also applies to other enterprises undertaken by the Harrods group of companies including Harrods Bank, Harrods Estates, Harrods Aviation and Air...

. In January 2009 the company was purchased by Grupo Santander
Grupo Santander
The Santander Group is a banking group centered on Banco Santander, S.A., the largest bank in the Eurozone and one of the largest banks in the world in terms of market capitalisation. According to Forbes Magazine Global 2000, it is the 13th largest public company in the world...

 and will be merged into the bank's existing entity, Santander Cards.

United States

GE Money Bank is also the name of GE's credit card
Credit card
A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services...

-issuing bank in the United States.

For more information on GE Money Bank in the U.S., see GE Money.
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