MetLife, Inc. (NYSE: MET) announced today that it has completed the sale
of MetLife Bank, N.A.’s deposit business to GE Capital Retail Bank, FSB,
a subsidiary of GE Capital. As a result, approximately $6.4 billion in
bank deposits have been transferred to GE Capital Retail Bank.
“The closing of the transaction with GE Capital is an important step in
the process of exiting retail banking and allows MetLife to maintain its
strategic focus as a global insurance and employee benefits leader,”
said Steven A. Kandarian, chairman, president and chief executive
officer of MetLife, Inc.
The transaction was approved by the Office of the Comptroller of the
Currency on December 12, 2012. MetLife has begun to take the necessary
administrative steps to deregister as a bank holding company.
MetLife, Inc. is a leading global provider of insurance, annuities and
employee benefit programs, serving 90 million customers. Through its
subsidiaries and affiliates, MetLife holds leading market positions in
the United States, Japan, Latin America, Asia, Europe and the Middle
East. For more information, visit www.metlife.com.
