RIGA - General Electric announced last week that it would expand its financial operations through RD Lizinga Grupa, which it bought last year. RD Lizinga will be renamed GE Money Latvia and may possibly acquire other leasing companies as part of its strategic expansion plans.
"General Electric is developing very actively on a global scale by buying other companies," said Dmitrijs Cimbers, RD Lizinga Grupa board chairman. "We are looking at all possible options."
GE Money is one of the leading credit-service providers in the world with operations in 40 countries.
RD Lizinga Grupa, which was bought last May, increased its credit portfolio by 88 percent to 17.1 million lats (24.33 million euros). The company was set up in 1997 as a financial firm specializing in consumer loans and trade finance. Today RD Lizinga Grupa is among leading consumer-lending companies in Latvia.
