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Cembra Money Bank AG is a Swiss credit institution headquartered in Zurich-Altstetten. [2] Cembra operated under the name GE Money Bank until its IPO in early November 2013 and was part of the General Electric Group. Since November 2013, the credit institution has been listed on the Swiss stock exchange.
In 2006 GE Money New Zealand purchased Pacific Retail Finance (PRF), New Zealand's largest personal consumer finance company, and the mortgage assets of Superbank, a supermarket-based banking system. On 24 October 2008, GE Money announced that it was pulling out of the New Zealand vehicle finance market, with the loss of 80 staff. [ 48 ]
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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. [14] In 2007, another GE Capital insurance company, First Colony Life Insurance Company, merged with the company's life insurance division and became the surviving ...
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This page was last edited on 11 April 2015, at 20:22 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may ...
In 2004, GE Money (formerly GE Consumer Finance), owned by General Electric, bought WMC Mortgage for about $500 million. [ 1 ] [ 2 ] WMC Mortgage catered to consumers with less than perfect borrower profiles.
In May 2015, GE appointed the Deutsche Bank to sell the Interbanca, then had a net assets of over €1,000,000,000. [3] In 2016 Banca IFIS acquired Interbanca for €160 million, with an obligation to repay the inter-company debt, totalling €2.1 billion, to GE. [4] Interbanca was merged with the parent company Banca IFIS on 23 October 2017 ...