GE Capital’s third quarter earnings leap
October 21, 2011
Filed under News
GE Capital’s earnings in the third quarter rose to $1.5 billion, an increase of 79 percent from the year-ago quarter.
“We grew GE Capital volume to $43 billion, up 15 percent,” GE chairman and CEO Jeff Immelt said in a press release. “GE Capital’s margins remained strong at 5.4 percent year-to-date, and the business continues to benefit from the credit cycle recovery. GE Capital continued to strengthen its capital ratios and liquidity during the quarter. GECC and GECS Tier 1 common ratios were up to 11.0 percent and 9.6 percent, and we have reduced leverage across the portfolio.”
During its third quarter conference call Friday, GE announced the company overall increased its operating earnings 11 percent to $3.4 billion.