Mubadala-GE Capital is in growth mode after lining up more than US$4 billion (Dh14.69bn) of loans and other financing in less than two years of existence.
The $8bn commercial finance joint venture between Mubadala Development and General Electric, one of the world's biggest business conglomerates, was 'going very well', said Ron Herman, the chief executive. The company had lined up about $2bn of financing for companies by the end of last year and had already doubled that amount this year, he said.
'We were profitable last year and will have larger profits this year,' said Mr Herman, who was a 25-year veteran at GE before moving to Abu Dhabi. 'So our business is healthy.'
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