Card Issuer Profile: GE Money

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Card Issuer Profile: GE Money
Company Profile, May 2007, 2236 €

Description

IntroductionPresent in 55 countries around the world, GE Money is one of the most global competitors in financial services.
This profile focuses primarily on GE Money's card operations, providing an overview of its current market positioning and outlook for the future.ScopeHighlightsReasons to PurchaseGain a detailed understanding of GE Money's strategy and approach in the card issuing space.
Find out Datamonitor's view on GE Money's outlook for the future.
Learn how Datamonitor rates GE Money in its unique competitor benchmark exercise.

Sommaire

Overview 1
Catalyst 1
Summary 1
Table of Contents 2
Table of figures 3
Table of tables 4
GE MONEY 5
Key findings 5
Company overview 5
Background 5
Ownership & management 5
GE Board of Directors 6
GE Money management 7
Employees 7
Management values 8
Company structure 8
In 2005 GE's businesses were reorganized 9
Until 2002 GE Consumer Finance formed part of GE Capital 9
Geographic coverage 10
Acquisitions have played a key role in GE's geographical expansion 11
Card statistics 13
Key financials 13
Profit & loss account 13
Balance sheet 16
Product overview 17
General product overview 17
Card product offering 18
Distribution and branding 18
B2B partnerships form a significant part of GE's distribution strategy 18
GE is now entering the credit card market as a standalone player 24
GE Money continues to invest in innovative products and services 25
Company outlook 26
GE's ultimate aim is expanding retail banking and the GE Money brand 26
GE Money is seeking to develop the non-cards side of the business 26
GE Money is keen to make mortgages a core part of its product portfolio 27
Strong growth is being achieved through four key principles 27
GE is also seeking to expand in emerging markets 28
There is potential to grow in Central and Eastern Europe where credit card penetration is low 28
GE has a growing portfolio across Asia-Pacific 29
Latin America is also an important region for GE Money 30
Datamonitor competitor benchmark 31
APPENDIX 34
Definitions 34
Co-branded card 34
Commercial card 34
Corporate card 34
Credit card 34
Prepaid card 34
Private label card 34
Purchasing cards 35
Data 35
Methodology 36
Further reading 37
Ask the analyst 38
Datamonitor consulting 38
Disclaimer 38
List of Tables
Table 1: GE Board of Directors, 2006 6
Table 2: GE Money Management, 2006 7
Table 3: GE employees, 2002-2006 8
Table 4: GE's organizational units - Growth Engines and Cash Generators, 2004 9
Table 5: GE's new organizational structure, 2007 9
Table 7: GE Money key acquisitions, 1993-2007 12
Table 8: GE Money's revenue and profit, 2002-2006 16
Table 8: GE Money product offerings directly to consumers and businesses, 2007 18
Table 9: Examples of co-branded cards, 2007 19
Table 10: GE Money's key retailer partnerships 21
Table 11: GE Money's key retailer partnerships in the US, 1981-2007 23
Table 13: GE Money brand credit card details in selected markets, 2007 25
Table 13: Scorecard logic, part one 32
Table 14: Scorecard logic, part two 33
Table 15: GE's revenues, costs and profits, 2002-2006 35
Table 16: GE's profit segmented by sector, 2002-2006 35
Table 17: GE's assets, 2002-2006 36
Table 18: Current relevant Datamonitor publications, 2007 37
Table 19: Future relevant Datamonitor publications, 2007 37
List of Figures
Figure 1: GE Money has a significant presence globally, 2007 11
Figure 2: GE has shown a strong financial performance, 2002 - 2006 14
Figure 3: GE Money is the third largest contributor to GE's profit, 2006 15
Figure 4: GE has a large balance sheet, with GE Money accounting for 20 per cent of total assets, 2002-2006 17
Figure 5: Priority for inactive cards in GE's conversion effort from private-label to dual functionality, 2003 20
Figure 6: Dual cards are more profitable than traditional private label cards, 2005 21
Figure 7: In the Americas, GE is seeking to grow its product portfolio, 2006 26
Figure 8: GE Money is seeking up to 15 per cent growth in assets and net income in 2007 27
Figure 9: GE Money - Datamonitor Competitor Benchmark 31