CIT Group (Commercial Investment Trust) is a financial holding company. The Company provides financing and leasing capital and operates CIT Bank. CIT operates two business segments: Commercial banking and Consumer banking. The Commercial banking segment provides lending, leasing, senior secured commercial real estate loans, factoring, secured finance, and receivables management, as well as equipment leasing and secured financing to companies in the rail industry. The Consumer banking segment offers financial services including retail banking, mortgages, Small Business Administration loans and operates CIT Bank, which owns a direct bank.
Type
Public
HQ
Livingston, US
Founded
1908
Size (employees)
4,410 (est)
Website
cit.com
CIT Group was founded in 1908 and is headquartered in Livingston, US
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Key People/Management at CIT Group

George Cashman

George Cashman

President, CIT Rail
Jim Hudak

Jim Hudak

President, CIT Commercial Finance
Stuart Alderoty

Stuart Alderoty

Executive Vice President, General Counsel and Corporate Secretary
John Fawcett

John Fawcett

Executive Vice President and Chief Financial Officer
Matt Galligan

Matt Galligan

President, CIT Real Estate Finance
Ellen Alemany

Ellen Alemany

Chairwoman and CEO

CIT Group Office Locations

CIT Group has offices in Danville, Pasadena, Paris, New York and in 14 other locations
Livingston, US (HQ)
One CIT Drive
New York, US (HQ)
11 W 42nd St
Atlanta, US
7000 Central Parkway NE, Suite 1200
Boston, US
175 Federal Street, Suite 503
Charlotte, US
201 South Tryon Street, Suite 700
Chicago, US
30 South Wacker Drive, Suite 2900
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CIT Group Financials and Metrics

CIT Group Financials

CIT Group's revenue was reported to be $3.21 b in FY, 2017 which is a 3.7% increase from the previous period.
USD

Net income (Q1, 2018)

97 m

Market capitalization (22-Jun-2018)

6.5 b

Closing share price (22-Jun-2018)

51.4

Cash (31-Dec-2017)

278.5 m

EV

15.2 b
CIT Group's current market capitalization is $6.5 b.
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017

Revenue

2.4 b2.6 b3.1 b3.2 b

Revenue growth, %

(47%)10%18%4%

Operating expense total

2.2 b

Pre tax profit

244.5 m186 m20.9 m191.6 m
Quarterly
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Revenue

898 m879 m1 b831.8 m839.5 m1.1 b786.1 m814 m769.6 m

Pre tax profit

147.6 m153.1 m136.8 m105.4 m199.2 m225.4 m134.4 m9.3 m103 m

Income tax expense

44 m37.8 m(560 m)44.4 m111.2 m77 m56.2 m(31.9 m)(119.8 m)

Net Income

103.7 m115.3 m693.1 m146 m17 m132.8 m179.9 m156.7 m219.6 m97 m
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017

Cash

878.5 m1 b822.1 m278.5 m

Goodwill

571.3 m1.1 b685.4 m369.9 m

Total Assets

47.9 b67.4 b64.2 b49.3 b

Long-term debt

18.5 b16.4 b14.9 b9 b
Quarterly
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Cash

913.6 m1.2 b1.7 b1 b1 b920.5 m741.7 m598.9 m453.4 m

Inventories

19.4 b19.6 b32.4 b31.4 b30.5 b29.9 b29.7 b29 b

Goodwill

563.6 m565.9 m1.1 b1.2 b1.2 b1.2 b686.1 m625.5 m625.5 m

Total Assets

46.4 b46.7 b68.1 b67.1 b66.7 b66 b63.1 b50.5 b49.3 b
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017

Net Income

1.1 b1 b(848 m)468.2 m

Depreciation and Amortization

973.2 m783.9 m700 m392.6 m

Cash From Operating Activities

1.4 b1.2 b2.4 b519.8 m

Cash From Investing Activities

(1.2 b)1.1 b(498.9 m)7.8 b
Quarterly
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Net Income

103.7 m219 m912.1 m146 m163 m293.8 m179.9 m336.6 m556.2 m97 m

Depreciation and Amortization

165.5 m388.5 m582.1 m204 m402.1 m598.1 m98.8 m200.4 m84.2 m

Cash From Operating Activities

132.6 m404.3 m793.7 m410.1 m995.3 m1.5 b289.5 m222.3 m388.7 m

Cash From Investing Activities

505.6 m(903 m)1.2 b(168.5 m)(257.8 m)(507.9 m)621 m10.3 b9.6 b
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CIT Group Operating Metrics

CIT Group's Total Loans was reported to be $29.1b in FY, 2017.
FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017Q3, 2017FY, 2017

Total Loans

$18.26 b$19.07 b$19.30 b$32.07 b$30.52 b$31 b$30.57 b$29.50 b$29.54 b$29.69 b$29.03 b$28.51 b$29.11 b

Non-accrual Loans

$160 m$183.50 m$198 m$214.70 m$252 m$295 m$283 m$288.50 m$279 m$258.80 m$256.80 m$265 m$221 m

Operating Lease (Railcars)

120 k128 k131 k132 k

Operating Lease (Locomotives)

390 390 400
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CIT Group Acquisitions / Subsidiaries

Acquired CompanyDateDeal Size
OneWest Bank N.A July 22, 2014$3.40 b
1143986 Ontario Limited
1244771 Ontario Limited
3918041 Canada Inc.
544211 Alberta Ltd.
555565 Alberta Ltd.
555566 Alberta Ltd.
Baliardo Limited
C2 Aviation Capital, LLC
Canadian Income Partners III Limited Partnership
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CIT Group Revenue Breakdown

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CIT Group revenue breakdown by business segment: 23.5% from Consumer Banking, 72.0% from Commercial Banking and 4.5% from Other

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CIT Group Online and Social Media Presence

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