General Electric Co. said that its financial services units do not need to raise external capital, and that its consumer finance division, GE Money, has "adequate reserves."

The finance units, collectively known as GE Capital, generated $5.2 billion of profits in the first half, GE said in a memo posted on its Web site Sunday to reassure investors about "extraordinary market conditions."

The Fairfield, Conn., company got about half its profits and sales from finance-related businesses last year. It said it continues to have an "unwavering commitment" to maintaining its triple-A credit ratings from Moody's Investors Service Inc. and Standard & Poor's Corp.

GE Money is "adequately reserved" for delinquencies, which reached 5.92% in the second quarter, equaling a December 2002 high, the memo said. GE will increase allowances for losses if delinquencies rise.

All of the unit's residential mortgages are outside the United States; GE sold its WMC Mortgage last year.

Jeffrey Immelt, the parent company's chief executive officer, plans to reduce GE Money by about half through divestitures. In the second quarter the unit's profits fell 9% on higher writeoffs and delinquency rates.

Several analysts, including Nicholas Heymann at Sterne, Agee & Leach Inc., said last week that because of the financial turmoil, Mr. Immelt's plans to dispose of his company's North American private-label credit card unit may be stalled next year.

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