Keppel now GE Money Bank
General Electric’s (GE) finance arm considers the Philippines a “good place†to be at the moment, a company official said.
This belief is the reason General Electric (GE) Consumer Finance entered the banking scene by buying all 30 Keppel Bank branches in Metro Manila and Metro Cebu, said chief operations officer John Hickey.
“There is a significant growth in the gross domestic product (GDP) (in the Philippines) year on year. It’s (Cebu) a good place to be,†he said in a speech during the formal opening of three GE Money Bank branches in Cebu.