Date:21/05/2005 URL: http://www.thehindubusinessline.com/2005/05/21/stories/2005052101420600.htm

Back GE Money to expand presence

Our Bureau

New Delhi , May 20

GE Money, the new global brand name for GE Consumer Finance, has embarked on a major retail finance expansion and will increase its presence from 118 branches in 50 cities to 228 branches across 110 cities.

The company is investing Rs 45 crore ($10 million) in this expansion project. The decision to expand GE Money's retail presence in India follows the identification of India as one of the company's four focus developing markets (the other three being Brazil, Russia and Mexico).

The GE Money brand was initially used for its housing finance product and personal loan "A" Category targeted at high net worth individuals. All existing GE Countrywide products — auto loans (new & used cars), consumer durable loans, two wheeler loans, personal loans and home equity-loans against property - are also being consolidated under the GE Money umbrella brand. This rebranding is expected to be completed by October 2005.