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GE has decided that returns from lending are no
longer worth the ire it provokes among investors, the Journal
cited the people as saying. (http://on.wsj.com/1C7Pi0k)
The company has been trying to reduce exposure to financing and
increase the profit contribution of its industrial businesses to
75 percent by 2016 from 55 percent in 2013.
"GE is an industrial company first and foremost," Chief
Executive Jeff Immelt says in a letter to shareholders to be
published on March 16 with the company's annual report.
"But make no mistake, the ultimate size of GE Capital will be
based on competitiveness, returns and the impact of regulation
on the entire company."
GE's shares were up slightly at $25.23 in extended trading on
Wednesday.
(Reporting by Lewis Krauskopf in New York and Radhika
Rukmangadhan in Bengaluru; Editing by Kirti Pandey)
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