×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: MetLife | Bank | GE | Capital

MetLife to Sell $7.5 Billion in Bank Deposits to GE

Tuesday, 27 December 2011 09:03 AM

MetLife, the largest U.S. life insurer, said it will sell about $7.5 billion in MetLife Bank deposits to General Electric's GE Capital Financial unit.

Financial terms of the deal were not disclosed.

The company said around $3 billion in custodial deposits associated with MetLife's forward mortgage business were not included, but will be transferred out of MetLife Bank over the next six months.

Shares of MetLife closed at $31.10 on Friday, while General Electric shares finished at $18.23 on the New York Stock Exchange.

© 2022 Thomson/Reuters. All rights reserved.


FinanceNews
MetLife, the largest U.S. life insurer, said it will sell about $7.5 billion in MetLife Bank deposits to General Electric's GE Capital Financial unit. Financial terms of the deal were not disclosed. The company said around $3 billion in custodial deposits associated with...
MetLife,Bank,GE,Capital
84
2011-03-27
Tuesday, 27 December 2011 09:03 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved