The leasing arm of GE Capital has reported an 8% fall to $3.6bn (2.6bn) in third quarter revenue and a 15% drop in profits at the Commercial Lending and Leasing (CLL) division.
The fall, down from $563m to $479m on the same quarter last year, saw the CLL unit drag profitability down at the finance group despite strong growth in the real estate and consumer divisions.
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Overall earnings at GE Capital grew 13% over the three months to September but charges and liabilities weighed down on overall profitability.
Only the Aviation business performed more poorly, dropping 31% in profitability to $173m.
This is a reversal on the situation on three months ago when CLL was the only division to show growth.
GE Capital also reduced its debt over the past quarter and shrank its assets within the CLL division by 5% to $170 billion compared to September 2012.
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By GlobalDataThe decline in profitability comes as GE looks to scale back its finance operations to refocus on its core industrial businesses.
