CIT Announces Second Quarter 2020 Financial Results

Rhea-AI Summary

CIT Group Inc. (NYSE: CIT) reported its second quarter 2020 financial results on July 21, 2020. Key highlights include a significant impact from the COVID-19 pandemic on operational performance, which resulted in lower revenues. The bank is committed to navigating the challenging market conditions while focusing on financial agility. Additionally, a conference call was held on the same day to discuss the results in detail. The presentation and further financial details are accessible through CIT's Investor Relations page.

Positive

• None.

Negative

• Lower revenues due to the impact of COVID-19 pandemic.
• Challenges in operational performance affecting overall financial results.

NEW YORK, July 21, 2020 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced its second quarter 2020 financial results. View the full press release.

The news release is available via CIT's News page and the accompanying earnings presentation and financial data package are posted in the Investor Relations section.

CIT will host a conference call today, July 21, 2020, to discuss its second quarter results.

Conference call details:

Time:	8:00 a.m. ET
Dial-in:	(888) 317-6003 U.S.
	(866) 284-3684 Canada
	(412) 317-6061 International
	Conference ID 8064258

The conference call will also be webcast, which can be accessed from the Investor Relations section of CIT's website under Presentations & Events.

A replay of the conference call will be available beginning shortly after the end of the call through Aug. 31, 2020, by dialing (877) 344-7529 U.S., (855) 669-9658 Canada or (412) 317-0088 International and using conference ID 10146029, or in the Investor Relations section of CIT's website under Presentations & Events.

About CIT:
CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company's commercial banking segment includes commercial financing, community association banking, middle market banking, equipment and vendor financing, factoring, railcar financing, treasury and payments services, and capital markets and asset management. CIT's consumer banking segment includes a national direct bank and regional branch network. Discover more at cit.com/about.

Contacts:

MEDIA RELATIONS:	INVESTOR RELATIONS:
Gina Proia	Barbara Callahan
212-771-6008	973-740-5058
Gina.Proia@cit.com	Barbara.Callahan@cit.com

 

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SOURCE CIT Group Inc.

FAQ

What were CIT's second quarter 2020 financial results?

CIT Group Inc. reported lower revenues in its second quarter 2020 financial results, primarily due to the COVID-19 pandemic.

When did CIT announce its second quarter 2020 results?

CIT announced its second quarter 2020 results on July 21, 2020.

What is the conference call about CIT's second quarter 2020 results?

CIT held a conference call on July 21, 2020, to discuss its second quarter results and provide further insights into its financial performance.