GE Capital Exits European Consolidated Prudential Supervision
March 30 2017 - 7:59AM
Business Wire
- Reflects major transformation of GE
Capital
GE (NYSE: GE) announced today that GE Capital’s non-U.S.
activities are no longer subject to consolidated supervision by the
UK’s Prudential Regulation Authority (PRA). This completes GE
Capital’s global exit from consolidated supervision, having had its
designation as a Systemically Important Financial Institution
(“SIFI”) removed in June 2016.
“Since we announced our plan to divest the majority of GE
Capital assets less than two years ago, we have transformed GE
Capital and simplified our regulatory footprint. GE Capital is a
critical part of the GE Store and works with GE and its customers
to drive growth,” said Rich Laxer, GE Capital Chairman and CEO.
Since the announcement in April, 2015, GE Capital has signed and
closed deals representing $198 billion of ending net investment
(ENI). GE Capital has largely completed the process of selling
approximately $200 billion of GE Capital non-core businesses.
About GE
GE (NYSE: GE) is the world’s Digital Industrial Company,
transforming industry with software-defined machines and solutions
that are connected, responsive and predictive. GE is organized
around a global exchange of knowledge, the "GE Store”, through
which each business shares and accesses the same technology,
markets, structure and intellect. Each invention further fuels
innovation and application across our industrial sectors. With
people, services, technology and scale, GE delivers better outcomes
for customers by speaking the language of industry. www.ge.com
GE’s Investor Relations website at www.ge.com/investor and our
corporate blog at www.gereports.com, as well as GE’s Facebook page
and Twitter accounts, including @GE_Reports, contain a significant
amount of information about GE, including financial and other
information for investors. GE encourages investors to visit these
websites from time to time, as information is updated and new
information is posted.
Caution Concerning Forward-Looking Statements:
This document contains "forward-looking statements" – that is,
statements related to future events that by their nature address
matters that are, to different degrees, uncertain. For details on
the uncertainties that may cause our actual future results to be
materially different than those expressed in our forward-looking
statements,
see ge.com/investor-relations/disclaimer-caution-concerning-forward-looking-statements as
well as our annual reports on Form 10-K and quarterly reports on
Form 10-Q. We do not undertake to update our forward-looking
statements. This document also includes certain forward-looking
projected financial information that is based on current estimates
and forecasts. Actual results could differ materially.
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GEInvestors:Matt Cribbins, +1
617-443-3400matthewg.cribbins@ge.comorMedia:Christine
Mohrmann, +44 207 853 1904christine.mohrmann@ge.com
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