£1m a day losses for GE loan arm

Jones, Lee
July 2009
Money Marketing;7/23/2009, p44
The article reports that the subsidiary of GE Capital Services, GE Money Home Lending Ltd., is losing one million British pound daily in 2009. According to GE vice president Keith Sherin, the GE Money Home has incurred a loss in the second quarter of 2009 worth 93.8 million pounds. It states that the GE group has estimated that its global mortgage has recorded a loss worth 302.7 million pounds in the same quarter.


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