Market Cap : 4.73 B | Enterprise Value : 7.37 B | PE Ratio : | PB Ratio : 0.91 |
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CIT Group's credit losses provision for the three months ended in Dec. 2020 was $-1 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Dec. 2020 was $800 Mil.
CIT Group's quarterly credit losses provision declined from Jun. 2020 ($224 Mil) to Sep. 2020 ($63 Mil) and declined from Sep. 2020 ($63 Mil) to Dec. 2020 ($-1 Mil).
CIT Group's annual credit losses provision declined from Dec. 2018 ($171 Mil) to Dec. 2019 ($111 Mil) but then increased from Dec. 2019 ($111 Mil) to Dec. 2020 ($800 Mil).
* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.
For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.
Credit Losses Provision for the trailing twelve months (TTM) ended in Dec. 2020 was 513.9 (Mar. 2020 ) + 223.6 (Jun. 2020 ) + 63.3 (Sep. 2020 ) + -0.5 (Dec. 2020 ) = $800 Mil.
* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.
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