GE Money Bank set for sale

22-04-2015 updated

Czech bank GE Money Bank is being put up for sale by its US parent company, General Electric. The general manager of the Czech unit, Sean Morrisey, confirmed that the aim is for the sale to take place within two years. The story of the intended sale was broken by business daily Hospodářské Noviny. GE Money Bank is the sixth largest bank on the Czech market with around one million clients. Its sale could fetch up to 40 billion crowns for its owners, the paper reported.