28-Dec-2011 - MetLife to sell retail deposits to GE Capital (AP)

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NORWALK, Conn. – MetLife will sell its U.S. retail deposit business to GE Capital as it moves away from being a bank holding company. Financial terms were not disclosed. MetLife Inc., which offers insurance Reebok NFL jerseys and employee benefit programs, said in July it was exploring mlb jerseys from china the sale of its banking operations to focus on its other business. GE Capital's banking business, GE Capital Financial, will acquire 7.5 billion in deposits. About 3 billion in other deposits will be transferred in the next six months. GE Capital says the deal fits its plans to launch a U.S. deposit platform. MetLife Bank began operating in 2001, offering retail savings products via the Internet. The deal is expected to close in the second quarter. MetLife shares rose 39 cents to 31.49 nba jerseys from china in morning trading.

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