GE Money was established in the 1930s to finance home appliances during the Great Depression. Although the company expanded its consumer finance product range over succeeding decades, it was not until the 1990s that it began to build its international operations.
Since then it has shown a strong commitment to emerging markets, with operations in countries ranging from El Salvador to China; from Latvia to Indonesia. Only Africa is underrepresented.
Dave Nissen, chief executive and president, says that emerging markets are a natural staging post for GE Money, especially given General Electric’s involvement in developing infrastructure in these countries.
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