- Reflects major transformation of GE Capital
Boston, Mass. - March 30, 2017 - 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.
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.
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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.
Matt Cribbins, +1 617-443-3400, [email protected]
Christine Mohrmann, +44 207 853 1904, [email protected]