GE Money says it has become the country's largest non-bank finance company and has doubled the size of its New Zealand business in the last two years.
Greg White, its Auckland-based managing director, said the financier had assets of more than $3.5 billion in the form of loans
and was on a fast growth path.
In 2005, GE Money - part of the global General Electric group - bought the Wizard Home Loans group in New Zealand and Australia.
Last year, it bought the $500 million mortgage portfolio assets of Superbank which closed its banking operations in this country.
GE Money also reportedly paid $145 million for Eric Watson's Pacific Retail Finance.
"In the last two years we have more than doubled the size of our operations," White said. "Last year we became the exclusive finance provider for auto sales via Trade Me so it's been truly an amazing 18 months."
White said GE was committed to expanding here.
"We see New Zealand as a strong growth business in the region and see plenty of opportunity to further broaden our product range and customer segments."
Next month, the company's 800 staff in Auckland will consolidate in a new Quay Park building, developed by Manson TCLM on the corner of Beach Rd and Tangihua St.
The seven-level, $90 million building will become its flagship headquarters. The firm has taken the entire 13,500sq m space on a long-term, 12-year lease.
The ground floor will have a mail centre, gymnasium, retail store, cafe and creche for the use of GE Money employees and affiliate staff.
