GE Capital, the finance arm of US industrial conglomerate GE,
has announced a $2.12bn (€1.75bn) profit for the second quarter of
2012, up 31% on its $1.61bn profit for the same period in 2011.
GE Capital’s 2012 half-year profit of $3.91bn is also up 15%
year-on-year from $3.4bn.
GE Capital Commercial Lending and Leasing (CLL), which includes
global equipment finance operations, posted a drop in earnings with
a $626m profit for the three months to 30 June, 11% down on the
2011 figure of $701m.
However, CLL’s 2012 first half-year profit of $1.31bn is up 4%
on its first-half 2011 profit figure of $1.25bn.
Overall, GE announced second quarter operating earnings of $4bn,
or $0.38 per share, up 7% and 12% respectively from the
second-quarter of 2011.
Jeff Immelt, GE chairman and chief executive, said: “Today’s
results demonstrate that we are executing on our growth strategy in
the midst of a still volatile global economy,”
“GE Capital’s strong operating performance and capital position
allowed it to return a $3bn dividend to the parent, and our
industrial segments delivered another quarter of double-digit
organic revenue growth. Our strategy to invest in growth markets is
paying off, as we achieved orders expansion.”