CIT Group Inc. is a United States financial holding company founded in 1908 with more than $35 billion in finance and leasing assets. The company's name is an abbreviation of an early corporate name, Commercial Investment Trust. It provides financing and leasing capital to its middle market clients and their customers across more than 30 industries. CIT maintains leadership positions in middle market lending, factoring, retail finance, aerospace, equipment and rail leasing, and global vendor finance. CIT also operates CIT Bank (Member FDIC), BankOnCIT.com, its primary bank subsidiary, which offers a suite of online savings options designed to help customers achieve a range of financial goals.

Our business areas operate under two segments: North American Commercial Finance and Transportation & International Finance.

North American Commercial Finance
COMMERCIAL SERVICES: CIT Commercial Services is a leading provider of factoring services in the United States. We provide credit protection, accounts receivable management services and asset-based lending to manufacturers and importers that sell into retail channels of distribution.
CORPORATE FINANCE: CIT Corporate Finance provides lending, leasing and other financial and advisory services to the middle market with a focus on specific industries, including: Aerospace & Defense,  Business Services, Communications,  Energy,  Entertainment,  Gaming,  Healthcare,  Industrials,  Information Services & Technology,  Restaurants,  Retail,  Sports & Media, and Transportation.
EQUIPMENT FINANCE: CIT Equipment Finance provides leasing and equipment loan solutions to small businesses and middle market companies in a wide range of industries. We provide creative financing solutions to our borrowers and lessees, and assist manufacturers and distributors in growing sales, profitability and customer loyalty by providing customized, value-added finance solutions to their commercial clients.
REAL ESTATE FINANCE: CIT Real Estate Finance provides senior secured commercial real estate loans to developers and other commercial real estate professionals. We focus on stable, cash flowing properties and originate construction loans to highly experienced and well-capitalized developers.

Transportation & International Finance
BUSINESS AIR: CIT Business Air provides financing solutions to business jet operators. Serving clients around the globe, we provide financing that is tailored to our clients’ unique business requirements. Products include term loans, leases, pre-delivery financing, fractional share financing and vendor/manufacturer financing.
COMMERCIAL AIR: CIT Commercial Air is one of the world’s leading aircraft leasing organizations and provides leasing and financing solutions—including operating leases, capital leases, loans and structuring, and advisory services—for commercial airlines worldwide. We own and finance a fleet of more than 300 commercial aircraft and have more than 100 customers in approximately 50 countries.
INTERNATIONAL FINANCE: CIT International Finance offers equipment financing and leasing to small and middle market businesses in the UK and China.
MARITIME FINANCE: CIT Maritime Finance offers senior secured loans, sale-leasebacks and bareboat charters to owners and operators of oceangoing cargo vessels, including tankers, bulkers, container ships, car carriers, and offshore vessels and drilling rigs.
RAIL: CIT Rail is an industry leader in offering customized leasing and financing solutions and a highly efficient, diversified fleet of railcar assets to freight shippers and carriers throughout North America and Europe. 
Type
Public
HQ
New York, US
Founded
1908
Employees
4,900 (est)+46%

Key People at CIT

Jeff Knittel

Jeff Knittel

President, Transportation Finance

CIT Locations

New York, US
Salt Lake City, US
Livingston, US
Beijing, CN
Shanghai, CN
Guangzhou, CN
Singapore, SG
Burlington, CA
Toronto, CA
Calgary, CA
Dublin, IE
Bracknell, GB
Dublin, IE
Barueri, BR
San Pedro Garza García, MX
Los Angeles, US
Washington, US
Fort Lauderdale, US
Jacksonville, US
Atlanta, US

CIT Metrics

CIT Summary

Founding Date

1908

Market capitalization

$8.35 B

Closing share price

$41.3

CIT Financials

FY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015

Revenue

$2.47 B$1.78 B

Operating expense total

$1.03 B$897 M$894 M$970 M$942 M$1.17 B

Income tax expense

$83.9 M$-398 M$-488 M

CIT Market Value History

CIT Online Presence

CIT News

CIT Company Life

You may also be interested in