Reuters reported General Electric Co. expects profit at GE Capital to rise at a double-digit percentage rate next year.

The report states that GE Capital cut $4 billion in costs from its operations since 2007, and is prepared for any downturn in the world economy, said Michael Neal, a GE vice chairman who runs the division.

The report also quoted Neal as saying, "Things could get worse. We don't predict the world.  If it does, we have levers in the business as well. We have great experience from the last couple of years."

Neal also said the business is bracing for a tougher credit environment in Europe next year and would be open to buying assets there if the right opportunity arose. According to the report, the unit is monitoring Europe's debt crisis and doing frequent reviews of the counterparties to which it is exposed.