USPages > Business Directory > Consumer Financial Services > CIT Group Inc.

CIT Group Inc.

Industry: Consumer Financial Services

For the nine months ended 30 September 2005, CIT Group Inc's revenues rose 18% to $4.07B. Net income rose 18% to $650.6M. Revenues reflects the acquisition of Education Lending Group and strong performances from the Specialty Finance segment. Net income reflects lower provision for credit losses, improved operating margins and reduction in depreciation expense on operating lease equipment.

CIT Group Inc. (CIT) is a global commercial and consumer finance company. It provides a range of financing and leasing products to small, medium and larger companies across a variety of industries, including manufacturing, retailing, transportation, aerospace, construction, technology, communication and various service-related industries. It offers vendor, equipment, commercial, factoring, home lending, small business, educational lending and structured financing products. The Company's five business segments are Specialty Finance-commercial, Specialty Finance-consumer, Commercial Finance, Equipment Finance and Capital Finance. In February 2005, the Company broadened its product offering with the acquisition of Education Lending Group, which offers student loans, primarily those guaranteed by the United States Government.

CIT Group Inc.'s rank changes

The company's ranking in 2009 was a decline from 2008 when it was ranked 306th on the Fortune 500. The Previous ranking was based on its 2008 revenue of $8,605 million (a change of -2 million compared to 2009) and profits of $-81 million (a change of 79 million compared to 2009).

Another point of view

To many investors, profits are more important than revenue a company earns, If the Fortune 500 was ranked by profits instead of revenue then CIT Group Inc. would be ranked 574th rather than 397th due to the fact it made a loss of $-2,800 million in 2009.

* US$ Million

Ones to watch

In order to take 396th position in the Fortune 500, CIT Group Inc. will need to overtake General Cable 's revenue. With $6,230 million earned by General Cable , CIT Group Inc. requires an improvement of $0 million to move up the list. Next in line to take CIT Group Inc.'s place in 2011 was 398th ranked The First American Corporation with revenues of $6,214 million, which needed to earn $0 million more in order to catch up to CIT Group Inc.'s ranking.

• Address
  • CIT Group Inc.
    1 CIT Drive
    New Jersey
    NJ
    07039
• Contact Details
  • Phone: 973-740-5000
  • Fax: N/A
  • Website: www.cit.com
  • Stock Symbol: CIT

CIT Group Inc. is not ranked in this year's Fortune 500