GE sees more loss provisions for finance unit

BOSTON, Sept 25 - General Electric Co expects to see higher losses and loss provisions at its hefty finance arm, but its industrial units remain on track and expect 10 to 15 percent profit growth in the third quarter, the company's top executive said on Thursday.

The company's GE Capital finance unit expects "to see higher losses and loss provisions and lower gains as the economy evolves," said Chairman and Chief Executive Jeff Immelt.

"GE's performing well in a tough environment; our industrial segment earnings should be up 10 to 15 percent in the quarter," Immelt told investors on a conference call. He referred to GE's two infrastructure divisions. That forecast excludes GE's appliance and lighting arm, which it aims to spin off to shareholders.

Earlier on Thursday GE warned investors that its profit could tumble as much as 12 percent this year as credit-market turbulence weighs on its financial operations.