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GE Money Bank (formerly GE Capital Bank) was a significant institution in the Czech Republic. It was founded in 1997, after the acquisition of Agrobanka bank as GE Capital Bank. In the year 2000, it changed the name to GE Money Bank. It went through an IPO in 2016 and operates under the new name of Moneta Money Bank.
Bank Prokredit was founded in 1912. In 1998, it came under the wing of GE Capital, which, the year before, had already acquired another Swiss consumer credit business, Bank Aufina, founded in 1953. It was not until 2006 that Prokredit, which had previously belonged to UBS, and Bank Aufina merged under the name GE Money Bank. [4]
In June 2014, Santander bought GE Money Bank, GE Capital's consumer finance business in Sweden, Norway and Denmark, for €700 million (US$950 million). [30] In September 2014, it was announced that Santander was in talks to merge its asset management unit with that of Unicredit to create a European firm worth €350 billion in assets. [31]
The company was incorporated as Genworth Financial, Inc. on October 23, 2003. [4] In May 2004, it became a public company via an initial public offering. [7][8][9][10] GE sold its remaining stake in the company in February 2006 for $2.8 billion. [11][12][13] In June 2006, the company agreed to buy AssetMark Investment Services for $230 million.
GE believed that Kidder would be a good fit for its financial services division, GE Capital. GE executives had felt chagrin at putting up money to finance leveraged buyouts, only to have to pay large fees to other investment banks. GE believed that it made sense to find a way to keep these fees for itself after taking such expensive risks.
Synchrony Financial is an American consumer financial services company with its headquarters in Stamford, Connecticut, United States. [2] The company offers consumer financing products, including credit, promotional financing and loyalty programs, installment lending to industries, and FDIC-insured consumer savings products, through Synchrony Bank, its wholly owned online bank subsidiary.
Latitude began as the Australian and New Zealand personal finance and motor dealer finance operations of Australian Guarantee Corporation acquired from Westpac in 2002 by GE Capital. [3] GE Capital sold its Australian and New Zealand business in 2015 to a consortium led by Deutsche Bank, KKR and Värde Partners. [4]
After having undergone changes in the late 2000s, including the acquisition of GE Money Thailand, and Bank of Ayudhya unified its subsidiaries and rebranded. [4] In 2014, the bank rebranded as "Krungsri" (shortened from กรุงศรีอยุธยา, "capital city/revered city Ayutthaya"), the bank's formal name and use tagline Make Life Simple.
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