Standard Chartered Bank Buys Money Lender
Friday, 8th April 2011
Standard Chartered had acquired legal money lender, GE Money. GE Money (GE Money Pte Ltd) was a wholly owned unit of General Electric Company, is a provider of car and personal loans in Singapore. The firm makes money by charging their customer interest for the money they loan them. The purchase will cost Standard Chartered nearly a billion Singapore Dollars. General Electric Company had established this legal money lending enterprise in Singapore nine years ago.
GE re-branded SDL Leasing Singapore Pte, Ltd. (FKA:Sime Diamond Leasing UEN:198304203R) to GE Money Singapore - SDL Provides leasing, car financing and block discounting facilities. The Company finances equipment and automobile purchases and has a dealer network of 260. SDL Leasing is a provider of auto loans in the marketplace and offers financing packages for new cars and newer used car segments, with their signature Auto Protection Plan. ; Provides leasing, car financing and block discounting facilities.