SBI Cards Division

1998 saw a new vista opening for the Indian credit card users. GE Capital Services, the largest issuer of private label credit cards in the world and State Bank of India, the largest Indian bank created two companies to address the market: namely, SBI Cards and Payment Services Ltd. (SBICPSL) and GE Capital Business Process management Services ltd. (GECBPMSL). The joint venture was set up to leverage the brand equity, customer relationship and the unparalleled network of SBI and the technological processes and service capabilities of GE Capital to offer you products that are value for money and supported by quality and service.

The State Bank of India - Bankers to the Nation
State Bank of India is the largest bank in India in terms of profits, assets, deposits, branches and employees. As of 31st March, 2000, the Bank possessed total assets worth Rs.2,615,049 million (US$59,951 million) and total deposits worth Rs.1,968,211 million (US$45,122 million).

Since its inception in 1806 as the Bank of Calcutta, it has gone from strength to strength and has, over the years, richly merited its status as the flagship of Indian banking.

With a network of over 9,000 branches in India and 51 foreign offices in 32 countries, the Bank commands about one-fifth of the total deposits and loans in all scheduled commercial banks in the country. The Reserve Bank of India is the single largest shareholder of the Bank. SBI's shares and bonds are listed for trading on all the major Indian stock exchanges. Its GDR is listed on the Luxembourg Stock Exchange.

The State Bank of India has pioneered innovative measures and contributed significantly to the growth of the Indian economy. It has been taking new initiatives with the changing economic environment and is poised to establish itself in the new millennium as a premier Indian financial services group with a global perspective and world class standards of efficiency.

Efficiency, Trust & Reliability
These are words that epitomise the State Bank of India. Known for its efficient customer service and commitment to excellence, it has grown immensely since its inception to become India's largest bank, with over 80% of the top corporate companies as its clientele. For more information on SBI click here.

About GE Capital
GE Capital Services is a global diversified financial services company with 28 distinct businesses. With assets of US $300 billion,GE Capital Services had net earning of US $3.8 billion and achieved a 23.5% return on equity in 1998. Its businesses are in the areas of Equipment Management, Consumer Services, Mid-Market Financing, Specialised Financing and Specialty Insurance and include global operations in Europe, Asia and Latin America.

GE Capital Services India
GE Capital Services India was established in October 1993 as a wholly owned subsidiary of GE Capital Services. It is one of the largest capitalised financial services companies with a combined and estimated asset base of Rs. 3,500 crore (Rs.35 billion) and a credit rating of AAA (SO) by CRISIL and Duff & Phelps (highest safety). GE Capital Services India has been delivering innovative financial solutions since 1993. We offer a kaleidoscopic range of products and services that meet the diverse needs of corporate and retail customers. The major businesses in India are:

GE Money
GE Money is the new consumer finance brand of GE. One of the 11 GE businesses, it is a leading provider of credit services in more than 40 countries with assets more than US$105 billion. It meets the needs of over 100 million customers world wide through product offerings of private label credit cards and promotional retail finance to the world's leading retailers and manufacturers, personal loans, auto financing, corporate cards for commercial customers, and diversified financial products directly to consumers. In December 2004, GE Money Home Loan and GE Money Personal Loan were launched In India with strong operations backed by the latest information technology support. Products such as, New & Used Car Loans, Auto refinance, Two wheeler loans, Loans Against Property, Consumer Durable Loans and CRM products are under GE Countrywide at present. These products will be migrated to GE Money in a phased manner over 2005.

With strong joint venture partner in Maruti and expertise spanning geographies, GE Money continues to add value to its customers and partners in India through Maruti Countrywide.

Commercial Finance
GE Capital Transportation Financial Services, provides innovative financial solutions for the transportation segment. It has recently ventured into the construction and mining equipment financing business.

Commercial Finance
Commercial Finance offers a range of financial services, which include Corporate Finance, Infrastructure Finance, Acquisition Finance, Private Equity and Syndication Services for a broad cross-section of Indian industry.

The Corporate Finance business focuses on providing finance to corporates to meet their working capital needs, capital expenditure plans, project finance and general corporate requirements.

Infrastructure Finance provides structured finance to the power and telecom sectors.

Commercial Finance also provides Investment Support for equity investment and Acquisition Finance through loans against equity-linked debt instruments such as Convertible Bonds, Redeemable Preferred Stocks, Optionally Convertible Debentures, and Equity Collateralised Loans.

The Private Equity business focuses on helping closely held unlisted companies who are significantly expanding their businesses by raising the necessary funds through private placement of equity.

Syndication Services offer advisory restructuring, placement and distribution of corporate finance products across a wide segment of institutional and retail investors.

Business Process Management Services
GE Capital International Services was established as a wholly-owned subsidiary in October 1996 to assist client organisations maximise speed and efficiency of current internal and external processes with a cost, quality and service advantage. The business currently offers world class business process management services and back office support to meet the diverse needs of its international and domestic customers. It provides back office processing services to GE companies in America, Europe and Asia Pacific. The focus is to develop Centres of Excellence in Transaction Processing, Accounting Services and Call Centres to service both GE and non-GE companies worldwide.

It has established its first world class remote processing centre in Gurgaon (near Delhi) and is in the process of setting up another world class facility at Hyderabad (Andhra Pradesh) to cater to the expansion of its remote processing services business. Also established a Decision Science Centre in Bangalore that is responsible for developing predictive tools and models for all aspects of customer management.

URL: http://www.sbicard.com