GE Money Bank

GE Money Bank AG
legal form	Corporation
Seat	various countries
Number of employees	> 1000
Branch	Credit institution

The GE Money Bank AG is a financial institution that operates in the US, Asia and Europe.

GE Money Bank is part of the GE Money division of the US General Electric Company, one of the world's top-selling conglomerates . In individual countries, however, the subsidiaries there were sold to other banks in 2008, including the subsidiaries in Germany and Austria.

In Switzerland, GE Money Bank AG belonged to the GE Group until the IPO under the name Cembra Money Bank in autumn 2013. This was based in Zurich . The headquarters of the former Austrian branch was in Vienna . The German headquarters were in Hanover .

The GE Group was represented in Germany by GE Capital Bank until August 2016 , before the remaining activities were sold to Targo Bank .

Structural data

Older logo with a slightly different font

Former German headquarters in Hanover

Former branch in Hanover

Poland

On June 17, 2008, GE Money Bank acquired 65.9 percent of the shares in the Polish bank BPH from the UniCredit Group .

Switzerland

GE Money Bank Switzerland was based in Zurich and arose from the merger of Bank Aufina, founded in 1953 and acquired by GE in 1997 (auto financing), and Bank Prokredit, founded in 1912 and acquired by GE in 1998 (consumer financing). The leasing bank Lisca AG , founded by the cantonal banks , was later integrated. It has 26 branches and employs around 800 people. CEO of GE Money Bank AG was Robert Oudmayer, and Chairman of the Board of Directors was Peter Küpfer.

Since going public, the bank has called itself Cembra Money Bank .

Germany and Austria

In Germany, GE Money Bank emerged from Allbank (Allgemeine Privatkundenbank AG) in Hanover, the Service Bank in Cologne and the WKV Bank in Stuttgart in mid-2004. It had over 100 branches with over 1,000 employees and over 500,000 customers in Germany and was also active in direct sales by telephone and email.

GE Money Bank Austria was created in 1998 from AVABank and Mercurbank to form GE Capital Bank . GE Bank has over 200,000 customers who are served by over 600 employees.

On March 27, 2008, GE Money Bank and the Spanish Banco Santander announced that they had signed a preliminary agreement. Banco Santander is taking over GE Money offices in Germany, Austria and Finland as well as GE's credit card and car financing businesses in the UK. In return, GE Commercial Finance is taking over Interbanca, the Italian commercial bank from the acquisition of ABN AMRO by Banco Santander. Banco Santander is already represented in Germany by the Santander Consumer Bank . The definitive contract signing was announced on June 2, 2008 and the sale was completed on November 1, 2008. As of July 1, 2009, GE Money Bank GmbH was merged with Santander Consumer Bank AG. The branches were renamed to Santander or closed accordingly. Santander Consumer Bank states that it will continue to operate contracts and accounts under the existing conditions as the universal successor to GE Money Bank.

Since September 25, 2009, GE Money Bank has also been officially operating as Santander Consumer Bank throughout Austria.

deals

In addition to checking accounts , credit cards , savings accounts , investment funds and consumer loans , GE Money Bank also offers insurance and construction finance .

GE Money Bank operates as a brand-independent vehicle financing with car dealers in the financing of new , annual and cars together. In addition, consumer loan agreements are offered for financing furniture and electronics items in retail .