Our history

The automotive sector and My Money Bank - A natural complementarity. In 1919, André Citroën founded SOVAC to finance customers buying Citroën vehicles. This allowed Paris to become the world capital of the automotive industry.

Acquisition of SOVAC, a leader in the consumer credit market with a presence in the home financing factoring and corporate finance sectors.

Acquisition of Royal Saint Georges Bank, a key player in the french debt consolidation market. With this integration, GE Money Bank deployed in France the debt consolidation expertise it has acquired in other countries and developed a comprehensive offering, including mortgage guarantees.

Réunibail and Sorefi merge to become one of Reunion's leading financial companies.

General Electric concentrates on its industrial activities. GE Money Bank's consumer finance and mortgage businesses are sold to European banks.

Founded in 1992 and based in New York, Cerberus is a private investment firm with offices in the United States, Europe and Asia. Cerberus Capital Management manages over $30 billion in funds and represents many of the world's most respected investors. Cerberus has recently invested in several European banking markets, including the UK.

Acquisition of the retail banking activities of HSBC France.