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CIT Group Credit Losses Provision

: $800 Mil (As of Dec. 2020)
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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).

CIT Group Credit Losses Provision Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

CIT Group Annual Data
Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Credit Losses Provision Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 194.70 114.60 171.00 110.80 800.30

CIT Group Quarterly Data
Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20
Credit Losses Provision Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 22.60 513.90 223.60 63.30 -0.50

CIT Group Credit Losses Provision Calculation

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.

CIT Group Credit Losses Provision Headlines

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