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Q1 2015 EARNINGS CALL – Cit Group Inc

Cit Group Inc · Apr 28, 2015 · 18 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q1 2015 EARNINGS CALL – Cit Group Inc – slide 1
    CIT First Quarter 2015 Financial Results April 28, 2015
  2. Q1 2015 EARNINGS CALL – Cit Group Inc – slide 2
    Executing on Our Priorities Expand Commercial Banking Franchise Target mid-year closing of the OneWest acquisition Maintain Strong Risk o Integration planning well underway Management Practices Deposits 50% of total fundings;…
  3. Q1 2015 EARNINGS CALL – Cit Group Inc – slide 3
    Pre-Tax ROA Near-term Target of 2% ( Millions) 1Q 15 Commercial Franchises (1) + Portfolio Repositioning (3) Total CIT CIT Corporate (2) Pre-tax income: 160 Pre-tax Income Pre-tax income: 148 Pre-tax ROAEA: 1.9%…
  4. Q1 2015 EARNINGS CALL – Cit Group Inc – slide 4
    Commercial Franchises 1Q15 Commercial Franchises 1Q Pre-Tax Return on AEA (85) bps (25) bps Discrete Items in 4Q 14 1Q 15 Activity 3.0% 1.9% 4Q '14 1Q '15 Benefits from Discrete Asset Sales in 4Q 14 1Q 15 Activity…
  5. Q1 2015 EARNINGS CALL – Cit Group Inc – slide 5
    Commercial Franchises(1) Trends Average Earnings Assets Net Finance Revenue ( Billions) ( Millions) 33.7 33.9 33.4 32.2 30.9 348 358 365 314 330 15.0 14.8 14.6 13.8 14.1 145 146 146 125 129 202 215 226 233 215 17.1 18.1…
  6. Q1 2015 EARNINGS CALL – Cit Group Inc – slide 6
    Noteworthy Items in 1Q 15 on Portfolios we are Exiting ( Millions, except per share data) Items in 1Q 15 Results Reported Diluted EPS 0.59 Impact Total Segment Item Line Item After tax Per share Pre-tax NSP AHFS - Impairments…
  7. Q1 2015 EARNINGS CALL – Cit Group Inc – slide 7
    Performance Highlights & Trends At or For the Period Ended 1Q 15 4Q 14 3Q 14 2Q 14 1Q 14 FY 14 FY 13 EPS (Diluted) Total (1) 0.59 1.37 2.76 1.29 0.59 5.96 3.35 EPS (Diluted) Continuing Ops. (1) 0.59 1.37 2.76 1.02 0.58 5.69 3.19 EPS…
  8. Q1 2015 EARNINGS CALL – Cit Group Inc – slide 8
    GAAP Tax vs. Economic Tax (Continuing Operations) ( Millions ,except per share data) 1Q 15 FY 14 Pre-tax Income 148 681 GAAP Tax Provision(1) (44) 398 Net Income (2) 104 1,078 Reported EPS (3) 0.59 5.69 Effective Tax Rate 30%…
  9. Q1 2015 EARNINGS CALL – Cit Group Inc – slide 9
    Profitability Metrics (1) FY 14 1Q 15 Near-term Outlook Net Finance 4.2% 4.0% 3.75% - 4.25% Margin (2) Credit Provision (0.3%) (0.4%) (0.35%) (0.75%) Other Income 0.9% 1.0% 0.75% - 1.00% Operating Expenses (3) (2.7%)…
  10. Q1 2015 EARNINGS CALL – Cit Group Inc – slide 10
    Portfolio Trends (Continuing Operations) ( Billions) Total Assets 70.0 50% 60.0 45% % to Total Assets CIT Bank Assets Total Assets 50.0 44.9 46.5 47.9 46.4 40% 44.2 40.0 35% 20.3 21.1 21.4 16.8 18.3 30.0 30% 20.0 25%…
  11. Q1 2015 EARNINGS CALL – Cit Group Inc – slide 11
    Adjusted Net Finance Margin (1) Trend and Change Near-term outlook : 6% 3.75%-4.25% of AEA 5% 4.26% 4.26% 4.34% Adjusted net finance margin less other items within near- 4.01% 4.00% 4% term outlook range As % of AEA 3% 1Q…
  12. Q1 2015 EARNINGS CALL – Cit Group Inc – slide 12
    Asset Quality Trends (Continuing Operations) ( Millions) Non-accrual Loans & Net Charge-offs 250 1.5% Net Charge-offs % to AFR 218 Non accrual Loans 190 201 200 179 1.2% 161 150 0.9% 100 0.8% 0.6% 50 0.5% 0.5%…
  13. Q1 2015 EARNINGS CALL – Cit Group Inc – slide 13
    Other Income Trends Components (Continuing Operations) ( Millions) Other Income Near-term outlook : Key Drivers 145 0.75%-1.00% of AEA Line Item 1.5% 120 Factoring Factoring Volume and Mix Commissions Commission Rates 95 1.0%…
  14. Q1 2015 EARNINGS CALL – Cit Group Inc – slide 14
    Operating Expenses Trends (Continuing Operations) ( Millions) Near-term outlook : 2.00%-2.50% of AEA 400 3.5% (1) 350 2.86% 2.87% 3.0% 2.79% 2.64% 2.63% % to AEA ex. Restructuring Charges 300 2.5% 252 Operating…
  15. Q1 2015 EARNINGS CALL – Cit Group Inc – slide 15
    APPENDIX 1Q15 Earnings Call 15
  16. Q1 2015 EARNINGS CALL – Cit Group Inc – slide 16
    Platform Exits In Progress ( Millions) Transaction Size Estimated CTA Expected Timing Mexico 200 20 2H 15 UK Equipment 2H 15 400 5 Finance Brazil 100 50 2H 15 Increase in CTA from 4Q 14 driven by foreign currency…
  17. Q1 2015 EARNINGS CALL – Cit Group Inc – slide 17
    Exposure to Oil Loans ( Billions) North American Railcars Total Loans: 19.4 Billion Total Cars: 110,000 In-service to Oil & Gas Oil Sector Extraction 22,000 Svcs. 0.5 Other Other 18.9 89,000 0.5 billion of loans…
  18. Q1 2015 EARNINGS CALL – Cit Group Inc – slide 18
    Providing Financial Solutions to Small and Middle Market Companies and the Transportation Sector Transportation & International Finance Leasing and financing solutions for Financing and Leasing Assets(1) Aerospace commercial airlines…

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