GE (General Electric Company (NYSE: GE) - A global company

GE is a diversified global infrastructure, finance and media company that's built to meet essential world needs. From energy, water, transportation and health to access to money and information, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide.

GE Capital

GE Capital as the financial division of General Electric Electric (NYSE: GE) is offering a wide array of financial products and services aimed at enabling commercial businesses and consumers worldwide.

GE Capital’s Global Banking business offers smart and flexible financial solutions to customers in 26 countries worldwide from credit cards and personal loans to auto financing, savings products, and many other innovative financial products.

GE Capital Global Banking is part of GE Capital, the global finance unit of General Electric. GE Capital Global Banking has a rich history of helping our clients and partners meet their business goals and achieve their dreams.

The Global Banking group offers a wide range of financial and banking services primarily for consumers. Budapest Bank operates as part of GE Capital’s Global banking unit.

GE - a brief history

The company traces its beginnings to Thomas A. Edison, who established Edison Electric Light Company in 1878. In 1892, a merger of Edison General Electric Company and Thomson-Houston Electric Company created General Electric Company. GE is the only company listed in the Dow Jones Industrial Index today that was also included in the original index in 1896. Since September 2001, the post of GE chairman and CEO has been held by Jeffrey R. Immelt.

Our Businesses

GE is made up of five businesses:

• GE Technology Infrastructure
• GE Energy Infrastructure
• GE Capital
• GE Home & Business Solutions
• NBC Universal

GE has been active in Europe, Middle East and Africa (EMEA), for more than 100 years and  offers a wide range of world-class energy, transportation, healthcare, water and security solutions    Our businesses fuel the global economy and improve people's lives. At GE, research has been the cornerstone of innovation for over a century. Today, GE has approximately 36,000 technologists working across our businesses and our four Global Research Centers at the intersection of technology and industry to solve some of the world's toughest problems.

GE in Central Europe (CE)

In 2009 the company managed to perform well in the changing economic environment both globally, as well as in CE where it employs 25,000 associates. In 2009 GE's destination sales in CE countries reached USD 3.4 billion, which is a 8% decrease in comparison to 2008. The slow economic environment resulted in the decrease destination sales in Hungary by 15% (to USD 825 million) compared to the previous year. As the CE region has to build and modernize its infrastructure, increase its efficiency and also meet CO2 regulations within the EU, GE's ecomagination products help to reach all three goals of the customers. Leslaw Kuzaj is the Regional Executive for CE (Lithuania, Poland, the Czech Republic, Slovakia and Hungary).

GE has been operating in Hungary since late 1989, and today all five of its major divisions are active in the country. Currently GE is the largest U.S. employer (with over 14,000 employees) and investor (over USD 1.1 billion invested), and one of the biggest exporters of Hungary, with a key supplier base of over 2,000. As a supplier, GE’s 21st century energy, transportation, healthcare, water and security solutions can help Hungary to develop and increase its competitiveness.
 The key to this success is GE’s culture of partnership with our associates, with local communities, with the business and scientific community.

Through its innovative training programs, GE contributes to the development of the country's human resources (via the GE Foundation Opening Doors secondary school talent development program; the GE Foundation Life Skills for Employability regional secondary school skills development program; the GE Foundation Scholar-Leader regional university scholarship program; and the Aschner and Öveges university technological scholarship programs).

GE conducts its activities in two major legal entities in Hungary:

1. As part of GE Hungary Ltd. and its affiliates employing 11,000 people,two of the five core GE businesses - Technology Infrastructure and Energy - operate four factories (Aviation, Energy, Healthcare and Water) in three cities, and also a regional headquarters and two technology centers in Hungary. In addition, in the framework of GE Hungary Kft. is the EMEA headquarters and a global technology center for GE Lighting, located in Budapest. The regional headquarter also operates eight factories in six cities of Hungary.  GE Hungary Ltd. generated HUF 667 billion revenues in 2008.

2. Owned by GE Capital, Budapest Bank and its fully-owned subsidiaries constitute an independent legal entity.

GE also has equity in global Genpact company, which operates Genpact Hungary Kft. located in Budapest employing 600 people.