The global economic recovery to promote the earnings growth of American General Electric Group. In the third quarter of 2013, the profit of 6 GE departments have growth and also won the biggest order in history, worth $229 billion. On the other hand, GE shares rose 3% in early trading.
Due to the impact of exchange rate, in the third quarter, the overall decline is still in turnover and profits of GE group: Net profit of $3.19 billion, down 8% year on year. Turnover of $35.7 billion, down 1.5% year on year.
GE currently focus on the traditional manufacturing, and therefore cut the financial sector.
Last week (13 October – 18 October), GM announced that they will bring its Swiss subsidiary of GE Money Bank into Zurich stock market in the end of the month, and to raise 1.05 billion Swiss francs (850 million euros). Financial crisis initial, GE has been sold the Germany and Austria consumer credit business to the Spain's Banco Santander. At the end of August, Reuters reports, GM also plans to sell its US consumer finance business.
Written by Dora Men
