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GE Capital Plans to Double German Leasing Assets

June 18, 2012, 07:50 AM
Filed Under: Industry News

The Wall Street Journal/MarketWatch reported GE Capital, intends to grow its German leasing business substantially and has a four-year plan to at least double total assets in that segment, citing Joachim Secker, the chief executive of GE Capital Germany.
According to the report, total assets are targeted to rise to from $4 billion at the end of 2011 to $8 billion over the next four years. Growth is expected both organically and through acquisitions, Mr. Secker said.

The reports also states several people familiar with the matter told Dow Jones Newswires that the sales process for IKB Leasing, the leasing arm of German bank IKB Deutsche Industriebank AG, has been revived and that GE Capital and Deutsche Leasing, the leasing arm of German savings banks, are in the running.

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