Goldman Sachs Group Inc. planning to buy a unit of General Motors Co. (GM), which is engaged in issuing credit cards.
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According to the publication, Goldman Sachs is one of a small number of companies competing for a division of GM, in the portfolio whose credit cards with a total balance of arrears on accounts worth about $3 billion.
Another contender for the purchase of this business is the British Bank Barclays.
General Motors Co. plans to find a buyer for my unit in the next few weeks.
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The deal with GM could help Goldman Sachs with the implementation of the ambitions in the field of retail banking services. In 2016, the financial company has launched a consumer online banking Marcus, who has already issued loans to $7 billion and by 2025 it expects to reach $20 billion.
In the WSJ noted that in the absence of a well-known consumer brand and physical offices, which could attract buyers, Goldman is using partnerships with well-known companies.
Last year, the Bank issued its first credit cards in partnership with Apple Inc. The total balance owed on the Apple Card accounts as of 30 June amounted to $2.3 billion.
As informed sources, Goldman Sachs Group Inc. and Barclays the possibility of buying division of GM is considered as the idea of using cars as e-Commerce portals. At the same time, GM also supports this idea.
GM became the first major car companies to implement the functions order food, pay for gasoline and hotel room reservation via the touch screens located on the dashboard of her car.