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Q2 2015 EARNINGS CALL – Cit Group Inc

Cit Group Inc · Jul 28, 2015 · 20 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. Q2 2015 EARNINGS CALL – Cit Group Inc – slide 1
    CIT Second Quarter 2015 Financial Results July 28, 2015
  2. Q2 2015 EARNINGS CALL – Cit Group Inc – slide 2
    Executing on Our Priorities Expand Commercial Banking Franchise Received regulatory approval for OneWest acquisition; expected to close on August 3, 2015 Maintain Strong Risk Stable credit metrics; credit reserve 1.8% of average…
  3. Q2 2015 EARNINGS CALL – Cit Group Inc – slide 3
    Pre-Tax ROA Near-term Target of 2% ( Millions) Commercial Franchises (1) + Portfolio Repositioning (3) Total CIT CIT Corporate (2) Year-to-date Year-to-date Pre-tax Income Year-to-date Pre-tax income: 324 Non-Strategic…
  4. Q2 2015 EARNINGS CALL – Cit Group Inc – slide 4
    Commercial Franchises 2Q15 Pre-tax Return on Average Earning Assets 30 bps (30) bps Credit Provision Other Income & Opex 1.9% 1.9% 1Q '15 2Q '15 2Q 15 Activity Highlights 20 bps Lower non-specific reserves (Credit…
  5. Q2 2015 EARNINGS CALL – Cit Group Inc – slide 5
    Commercial Franchises(1) Trends Average Earning Assets Net Finance Revenue ( Billions) ( Millions) 33.7 33.9 33.4 33.8 32.2 348 358 365 330 337 15.0 14.8 14.6 14.7 14.1 145 146 146 132 129 215 226 233 215 218 18.1 18.7…
  6. Q2 2015 EARNINGS CALL – Cit Group Inc – slide 6
    Noteworthy Items in 2Q 15 on Portfolios we are Exiting ( Millions, except per share data) Items in 2Q 15 Results Reported Diluted EPS 0.66 Impact Total Segment Item Line Item After tax Per share Pre-tax NSP AHFS - Impairments…
  7. Q2 2015 EARNINGS CALL – Cit Group Inc – slide 7
    OneWest Transaction Remains Accretive to CIT ( Millions, except per share data) 2016 Pro Forma July 2014 Deal Announcement (1) July 2015 Update 1 CITs standalone profitability impacted by: Mil ions Mil ions of Shares per Share…
  8. Q2 2015 EARNINGS CALL – Cit Group Inc – slide 8
    APPENDIX 2Q15 Earnings Call 8
  9. Q2 2015 EARNINGS CALL – Cit Group Inc – slide 9
    Performance Highlights & Trends At or For the Period Ended 2Q 15 1Q 15 4Q 14 3Q 14 2Q 14 FY 14 FY 13 EPS (Diluted) Total (1) 0.66 0.59 1.37 2.76 1.29 5.96 3.35 EPS (Diluted) Continuing Ops. (1) 0.66 0.59 1.37 2.76 1.02 5.69 3.19 EPS…
  10. Q2 2015 EARNINGS CALL – Cit Group Inc – slide 10
    GAAP Tax vs. Economic Tax (Continuing Operations) ( Millions, except per share data) 2Q 15 1Q 15 FY 14 Pre-tax Income 153 148 681 GAAP Tax Provision(1) (38) (44) 398 Net Income (2) 115 104 1,078 Reported EPS (3) 0.66 0.59 5.69…
  11. Q2 2015 EARNINGS CALL – Cit Group Inc – slide 11
    Portfolio Trends (Continuing Operations) ( Billions) Total Assets 70.0 50% 60.0 45% % to Total Assets CIT Bank Assets 47.9 Total Assets 50.0 46.5 46.4 46.7 40% 44.2 40.0 35% 21.1 21.4 21.9 30.0 18.3 20.3 30% 20.0 25%…
  12. Q2 2015 EARNINGS CALL – Cit Group Inc – slide 12
    Adjusted Net Finance Margin (1) Trend and Change 6% 5% 4.26% 4.26% 4.34% Adjusted net finance margin less other items within 4.00% 4.02% 4% near-term outlook range As % of AEA 3% 2Q15 other items flat at 10 bps 2% 4.00%…
  13. Q2 2015 EARNINGS CALL – Cit Group Inc – slide 13
    Asset Quality Trends (Continuing Operations) ( Millions) Non-accrual Loans & Net Charge-offs 250 1.5% Net Charge-offs % to AFR 201 Non accrual Loans 190 198 200 184 1.2% 161 150 0.9% 100 0.6% 50 0.5% 0.5% 0.4%…
  14. Q2 2015 EARNINGS CALL – Cit Group Inc – slide 14
    Other Income Trends Components (Continuing Operations) ( Millions) Other Income Key Drivers 145 Line Item 1.5% 120 Factoring Factoring Volume and Mix Commissions Commission Rates 95 1.0% Fee Market Pricing 70 Revenues M&A…
  15. Q2 2015 EARNINGS CALL – Cit Group Inc – slide 15
    Operating Expenses Trends (Continuing Operations) ( Millions) 400 3.5% (1) 350 2.86% 2.87% 3.0% % to AEA ex. Restructuring Charges 2.64% 2.63% 2.74% 300 2.5% 252 Operating Expenses 235 242 235 250 225 2.0% 200…
  16. Q2 2015 EARNINGS CALL – Cit Group Inc – slide 16
    Platform Exits In Progress ( Millions) Transaction Size Estimated CTA Expected Timing Mexico 200 20 3Q 15 UK Equipment 2H 15 400 5 Finance Brazil 100 50 2H 15 Other international platforms; 350 million of UK CF…
  17. Q2 2015 EARNINGS CALL – Cit Group Inc – slide 17
    Exposure to Oil Loans ( Billions) North American Railcars Total Loans: 19.6 Billion Total Cars: 112,000 In-service to Oil & Gas Oil Sector Extraction 23,000 Svcs. 0.5 Other Other 19.1 89,000 0.5 billion of loans…
  18. Q2 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…
  19. Q2 2015 EARNINGS CALL – Cit Group Inc – slide 19
    New Business Segment Structure Post Acquisition Commercial Banking North America Banking Aerospace Legend: International Finance Transportation & Commercial Expanded Division Real Estate Rail Equipment New Division Finance…
  20. Q2 2015 EARNINGS CALL – Cit Group Inc – slide 20
    Business Segment Description Post Acquisition SEGMENT DIVISIONS MARKETS AND SERVICES Aerospace Leasing and financing solutions for commercial airlines worldwide and business jet operators. Transportation & Rail Leasing and financing…

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