GE has recorded Q3 results of $27.1bn revenue and $4.5bn profit from industrial and verticals, after signing off on $126bn of divestments since April.

The results are posted soon after the $30bn divestment of lending and leasing arm to Wells Fargo, reported last week.

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GE have also announced a share exchange in Synchrony, its consumer credit lending business, after approval from the Federal Reserve.

Jeff Immelt, chairman and chief executive officer said: "In a volatile environment, GE performed well this quarter, with industrial profit growth, organic revenue growth, and margins up 100 basis points. Our GE Capital exit plan is ahead of plan and we expect GE Capital dividends to the parent of around $3bn for 2015. This week we announced the sale of $30 billion of commercial lending businesses, bringing our total signed deals to date to $126 billion. We also expect to launch the Synchrony share exchange next week, which will significantly reduce the amount of GE stock outstanding. Through the exchange and dividends, we are on track to return around $30 billion to shareowners in 2015."

In September, Leasing Life reported GE’s decision that it would keep its UK and European leasing business and merge it with GE’s UK banking arm.

GE UK Equipment Finance managing director Gabriele D’Uva said at the time: "Through the thorough evaluation of the implications of the 10th April announcement, we have reassessed the sale of the Equipment Finance UK business. For financial and strategic reasons, Equipment Finance UK will not form part of the GE Capital divestment process and will become part of the UK Bank Group.

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