AS GE Money Bank is a new bank in Latvia, which has been established by uniting the existing experience of AS GE Money and AS Baltic Trust Bank with international experience of General Electric in the sphere of finances.
The bank started operating in Latvia in 2008, after completing the integration of AS Baltic Trust Bank and AS GE Money.
AS GE Money Bank is part of the largest global multi-sector corporation General Electric, and provides the full spectrum of financial services. The bank operates in Latvia with expanded structure offering some services in co-operation with its subsidiary or associated companies.
AS GE Money Atklatais Pensiju Fonds, which is a subsidiary company of AS GE Money Bank, was established on 7 January 2005 as AS Baltic Trust Bank Atklatais Pensiju Fonds. Another subsidiary of AS GE Money Bank is IPS GE Money Asset Management, which manages investment funds, 2nd pillar pension investment plans and private pension funds. IPS Baltic Trust Bank Asset Management was established in January 2004, but in January 2005 the first IPS investment plan was registered.
IPS Baltic Trust Bank Asset Management was integrated into the General Electric Corporation in 2007, and company restructuring and operational policy transformation took place. In April 2008, former IPS Baltic Trust Bank Asset Management became the part of General Electric Group in Latvia and changed its name to IPS GE Money Asset Management.