GE 2014 Annual Report Download - page 75

GE 2014 FORM 10-K 55
MD&A SEGMENT OPERATIONS | GE CAPITAL
x Cembra – During the fourth quarter of 2013, we completed the sale of 68.5% of our Swiss consumer finance bank,
Cembra Money Bank AG (Cembra), through an IPO.
x CLL Trailer Services – During the fourth quarter of 2013, we also completed the sale of our CLL trailer services business
in Europe (CLL Trailer Services).
x Consumer – During the fourth quarter of 2013, we completed the sale of our remaining equity interest in the Bank of
Ayudhya (Bay Bank). We also committed to sell our consumer banking business in Russia (Consumer Russia) and
completed the transaction in the first quarter of 2014.
x MetLife Bank – During the first quarter of 2013, we acquired the deposit business of MetLife Bank, N.A., which is an
online banking platform with approximately $6.4 billion in U.S. retail deposits that is now part of Synchrony Financial.
x Real Estate – During 2013 and 2014, in conjunction with our initiative to increase our overall real estate lending portfolio
and reduce our exposure to real estate equity investments, we acquired certain loan portfolios and sold real estate equity
investments when economically advantageous for us to do, including the 2013 sale of real estate comprising certain floors
located at 30 Rockefeller Center, New York.
x Business Property – During 2012, we completed the sale of a portion of our Real Estate Business Properties portfolio
(Business Property), including certain commercial loans, the origination and servicing platforms and the servicing rights on
loans previously securitized by GECC. The portion that we retained comprises our owner-occupied/credit tenant portfolio.
x Consumer Ireland – During 2012, we completed the sale of our consumer mortgage lending business in Ireland
(Consumer Ireland) and sold our remaining equity interest in Garanti Bank, which was classified as an available-for-sale
security.
x U.S. Customer Base – During 2014, GE Capital provided approximately $116 billion of new financings in the U.S. to
various companies, infrastructure projects and municipalities. Additionally, we extended approximately $115 billion of
credit to approximately 64 million U.S. consumers. GE Capital provided credit to approximately 29,700 new commercial
customers and 33,700 new small businesses in the U.S. during 2014, ending the year with outstanding credit to more than
250,000 commercial customers and 220,000 small businesses through retail programs in the U.S.