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With lending products, growth capital, revolving lines of credit, equipment leasing of every kind, cash flow programs, asset financing and more, Commercial Finance is playing a key role in the growth, expansion and stability of 35 countries’ major industries, including healthcare, manufacturing, communications, construction, energy, aviation, infrastructure and equipment.
In 2002, Commercial Finance used its 3,500-person sales force, a diverse portfolio and rigorous risk management to produce double-digit asset and earnings growth despite the difficult business climate. In 2003, Commercial Finance will continue to use Six Sigma to improve its own processes and productivity as well as offer Six Sigma solutions to customers. In particular, its “At the Customer, For the Customer” projects will continue to help clients improve their operations and accelerate their revenues.
Opportunities for growth are global in nature for all of Commercial Finance’s businesses. For example, its Real Estate unit has developed a pan-European presence as well as significant reach throughout Asia and Mexico. The result: 40% of Commercial Finance’s net earnings are generated outside the United States.
Although Commercial Finance is already large (among the top commercial lenders worldwide), financial markets are enormous, and Commercial Finance has plenty of room for continued growth.
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Michael A. Neal
President and CEO
GE Commercial Finance
2002 TOTAL ASSETS: $195.8 billion
BREAKTHROUGHS
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1905 : Commercial Finance
Financial Services: The Electric Bond and Share Co. is organized to provide financing to small utilities; precursor of Commercial Finance. 2002 Commercial Finance revenues: $16.0 billion
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GE Commercial Finance Web site |
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