About CIT
CIT is a company based in New York (United States) founded in 1908 was acquired by First Citizens Bank in October 2020. The company has 794 employees as of December 31, 2021. CIT has completed 5 acquisitions, including Direct Capital, IMB Holdco and Mutual of Omaha. CIT operates in a competitive market with competitors including CSI Leasing, Cat Financial, Hginc, Verdant Commercial Capital and GreatAmerica, among others.
- Headquarter New York, United States
- Employees 794 as on 31 Dec, 2021
- Stage Public
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Sectors
Financial Services
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Email
Locked
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Phone
Locked
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Website
Locked
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Social
Locked
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Annual Revenue
$1.62 B (USD)-27as on Dec 31, 2020
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Net Profit
-$615.3 M (USD)-216as on Dec 31, 2020
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EBITDA
$327.4 M (USD)6as on Dec 31, 2020
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Latest Funding Round
Not available
- Investors
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Employee Count
794
as on Dec 31, 2021
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Investments & Acquisitions
Direct Capital
& 4 more
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Acquired by
First Citizens Bank
(Oct 16, 2020)
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People of CIT
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Leadership Team
58 people
Software Development Team
54 people
Finance and Accounting
37 people
Operations Team
12 people
Sales and Marketing
11 people
Senior Team
11 people
Human Resources and Administration
6 people
Legal and Compliance
4 people
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Funding Insights of CIT
Detailed funding history for CIT
Round names, dates, amounts, investors, and valuation history require an active premium plan.
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- Funding amounts
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Investors in CIT
CIT has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include First Citizens Bank.
| Investor | Description | Founded Year | Domain | Location |
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Commercial banking services are provided to individuals and businesses.
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Locked | Locked | Locked |
Investor details for CIT
Investor domains, locations, round participation, and complete history require an active premium plan.
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- Investor locations
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Investments & Acquisitions by CIT
CIT has strategically engaged in corporate development activities, having acquired 5 companies. Notable acquisitions include Direct Capital, IMB Holdco and Mutual of Omaha.
Investment portfolio details for CIT
Portfolio company identities, transaction dates, round details, and investment values require an active premium plan.
- Portfolio identities
- Transaction dates
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| Company Name | Description | Domain | Location | Founded Year | Amount |
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Insurance and financial services are provided across the United States.
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Locked | Locked | 2010 | Locked | |
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Commercial banking services are provided to businesses and individuals.
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Locked | Locked | 2009 | Locked | |
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Equipment and working capital financing is extended to small businesses.
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Locked | Locked | 1993 | Locked |
Complete acquisition details for CIT
Transaction dates, acquired stakes, disclosed values, domains, and locations require an active premium plan.
- Transaction dates
- Acquired stakes
- Disclosed values
- Domains and locations
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Financial Statements - CIT
Detailed financials for CIT
Historical revenue, profit, statement rows, ratios, and trend charts require an active premium plan.
- Historical revenue
- Profit trends
- Statement rows
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Cit Comparisons
Peer comparison for CIT
Named peer metrics, headcount, funding, location, and side-by-side benchmarks require an active premium plan.
- Named peers
- Headcount comparison
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- Operating benchmarks
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Competitors of CIT
CIT operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as CSI Leasing, Cat Financial, Hginc, Verdant Commercial Capital and GreatAmerica, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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| Locked | Locked | Locked |
Financing and leasing for machinery and equipment are provided globally.
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| Locked | Locked | Locked |
Caterpillar's asset financing arm
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Financial asset liquidation, valuations, and advisory services are provided.
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| Locked | Locked | Locked |
Equipment financing company
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| Locked | Locked | Locked |
Asset financing firm
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Detailed competitors of CIT
Competitor domains, locations, full profiles, and operating metrics require an active premium plan.
- Domains and locations
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Latest news on Cit
Complete news archive for CIT
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- Full article archive
- Source and publication date
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- Brand-specific news history
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Frequently Asked Questions about CIT
CIT was founded in 1908.
CIT is headquartered in New York, United States. It is registered at New York, New York, United States.
As of Dec 31, 2021, the latest employee count at CIT is 794.
Annual revenue of CIT is $1.62B as on Dec 31, 2020.
Founded in 1908 and headquartered in New York, United States, CIT Group operates in the commercial financing sector. Asset-based debt solutions, equipment and rolling stock leasing, and real estate financing are extended to industries including aerospace, defense, communications, technology, consumer goods, energy, health care, and rail. Consumer banking is handled through CIT Bank. Annual revenues of 3.1 billion were reported in 2020, accompanied by a net loss of 615.3 million.
CIT's top competitors include Cat Financial, CSI Leasing and Hginc.
CIT has made 5 acquisitions, including Direct Capital, IMB Holdco, and Mutual of Omaha.
CIT has 1 investor. Key investors include First Citizens Bank.