CIT Group Records 58% Net Income Growth in January-September 2000


The CIT Group Inc (which offers a range of financial services including factoring, structured financing, equipment, commercial and consumer financing facilities) has recorded net income of $451.5 million in January-September 2000, an increase of 58% from $285.1 million in January-September 1999.

Total managed assets rose to $54.6 billion by end-September 200 (of which $47.3 billion, 87%, were commercially based) from $51.4 billion at end-1999 (of which $44.2 billion, 86%, were commercially based).

During the latest year CIT reports that it has reduced credit deliquency and continued integrating its operations more closely while also establishing a new vendor relationship with Agilent Technologies and extending its joint venture arrangement with Dell.

CIT operates extensively through the United States and Canada and has offices in various European, Latin American and Pacific rim countries.

Business Wire



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