GE Money invests 50m euros in retail banking

In the next few years, GE Money plans to invest 50 million euros to consolidate its retail banking position, having entered the local market through the acquisition of three non-banking financial companies, for which it paid 140 million euros. “We will invest 50 million euros in the next two or three years. It is a significant sum and it shows our appetite for this market,” said Dmitri Stockton, chairman of GE Money for Europe, the Middle East and Africa. GE Money, the specialist financial services division of the American giant General Electric, has acquired the consumer finance company Ralfi, the leasing company Motoractive and the real estate company Domenia Credit. “We are currently examining several targets. We are interested in the Romanian market and if we see opportunities, we will evaluate them,” added Stockton. He, however, declined to elaborate on the “individual projects” that GE Money is interested in, citing restrictions imposed by the New York Stock Exchange, where the company’s shares are listed.