Post Tagged with: "CIT"

CIT Bank Launches Mobile App — and No One Notices

CIT Bank Launches Mobile App — and No One Notices

by February 5, 2014 at 10:14 am 1 comment

CIT Group launched its first mobile banking app last quarter. Yeah, no one else noticed either. CIT Bank, the financial conglomerate’s $16.1 billion online bank, was launched in 2011 to diversify its parent’s funding. Indeed, CIT nearly went bankrupt during the credit crisis when the capital markets all but silenced,Read More

Which FIs Did Best in 2013? Check Their Net Income per Employee

Which FIs Did Best in 2013? Check Their Net Income per Employee

by December 30, 2013 at 11:49 am 0 comments

There are many ways to measure bank efficiency, but in 2013 net income per employee was arguably the best indicator of all for stock performance among large financial institutions. Net income per employee — net income divided by total employees — indicates whether, on a deep level, a financial institution isRead More

CIT Sees Significant Growth in Online Deposits

CIT Sees Significant Growth in Online Deposits

by July 24, 2013 at 1:06 pm 0 comments

Online banking is booming for CIT Bank. The financial services company yesterday reported that it had secured $11.1 billion in new deposits last quarter, of which $6 million, or 54%, came through the online channel. During the same quarter in 2012, but 20% of CIT Bank’s deposits came from itsRead More

CIT’s Online Bank Doesn’t Exactly Knock It Out of the Park

by February 1, 2012 at 4:30 pm 1 comment

Last October, CIT Inc., a troubled, if massive financial services conglomerate, decided it would get hip and launch an online bank at www.bankoncit.com. So far, the performance has been so-so. Yesterday, CIT disclosed that the bank has generated about $600 million of deposits since its launch. In the bank’s view, that’sRead More

CIT Gets Online Banking Religion

by July 26, 2011 at 2:00 pm 1 comment

The last few years have not been good to the CIT Group. The finance company’s bad bets on subprime mortgage finance, among other asset classes, put it on the brink of oblivion. That scare continues to mold CIT’s actions, as evidenced by the $700 million or so of student loansRead More