General Electric Co. (GE) will open a U.K. bank in mid-April, the Sunday Telegraph said.
The new Internet bank, to be called GE Capital Direct, will be the biggest entry into the U.K. banking industry since the financial crisis, the London newspaper reported, without specifying the source of the information. GE will seek to add billions of pounds of savings to its U.K. corporate loan book worth more than 10 billion pounds, the report said. A GE Capital spokesman declined to comment, according to the article.
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