GE lays down financial challenge

Global financial giant GE Capital will take on the Big Four banks in Australia as it embarks on a global rebranding exercise. Its financial services company GE Consumer Finance will now be known as GE Money with the new trading name to appear first in Australia, GE's fourth-largest market. The company first entered Australia in the mid-1990s. It took over Coles Myer's store card and has since acquired AVCO and AGC. It now offers car loans, home loans and other financial services and has 3 million customers. GE Money plans to increase its retail outlets in Australia from the current 117.