UBS Conference
New York
May 14, 2007
Exhibit 99.1
Notices
Forward Looking Statements
Certain statements made in these presentations that are not historical facts may constitute “forward-looking” statements under the Private
Securities Litigation Reform Act of 1995, including those that are signified by words such as “anticipate”, “believe”, “expect”, “estimate”, “target”,
and similar expressions. These forward-looking statements reflect the current views of CIT and its management and are subject to risks,
uncertainties, and changes in circumstances. CIT’s actual results or performance may differ materially from those expressed in, or implied by, such
forward-looking statements. Factors that could affect actual results and performance include, but are not limited to, potential changes in interest
rates, competitive factors and general economic conditions, changes in funding markets, industry cycles and trends, uncertainties associated with
risk management, risks associated with residual value of leased equipment, and other factors described in our Form 10-K for the year ended
December 31, 2006 and 10-Q for the quarter ended March 31, 2007. CIT does not undertake to update any forward-looking statements.
Non-GAAP Financial Measures
The data provided in these presentations have been modified from our previously reported periodic data, including, but not limited to, the exclusion
of certain noteworthy transactions and nonrecurring events, because management believes that the data presented herein better reflects core
operating results. As such, the data will vary from comparable data reported in CIT’s Forms 10-K & 10-Q. The data provided in these presentations
have not been examined by independent accountants and is not presented in accordance with generally accepted accounting principles (“GAAP”).
These presentations include certain non-GAAP financial measures, as defined in Regulation G promulgated by the Securities and Exchange
Commission. Any references to non-GAAP financial measures are intended to provide additional information and insight into CIT’s financial
condition and operating results. These measures are not in accordance with, or a substitute for, GAAP and may be different from or inconsistent
with non-GAAP financial measures used by other companies.
For a reconciliation of these non-GAAP measures to GAAP and a list of the transactions and events excluded from the data herein, please refer to
the appendix within this presentation or access the reconciliations through CIT's Investor Relations website at www.cit.com ..
This presentation is derived from CIT’s publicly available information and is to be used solely as part of CIT management’s continuing
investor communications program. This presentation has not been prepared in connection with, and should not be used in connection
with, any offering of securities by CIT. For the sale of any securities by CIT you are directed to rely only upon the offering document for
those particular securities.
Data as of or for the period ended March 31, 2007 unless otherwise noted.
2
Building on 99 Years of Success
$11 Billion Market Capitalization
Global Servicing Capabilities
Customized Financial Solutions
Strong Credit Culture
Managed Assets $80 Billion
Premium Brand
Diverse Portfolio
3
Solid Start to 2007
Increased 22%
$65,503
$79,712
Managed Assets
Increased 15%
$1.13
$1.30
EPS
Increased 60 basis points
14.2%
14.8%
ROE
Improved 140 basis points
45.7%
44.3%
Efficiency Ratio
Continued excellence
0.37%
0.39%
Net Charge-offs
Increased 14%
$707
$809
Revenue
Increased 24%
$8,716
$10,779
Volume
Comments
Q1 2006
Q1 2007
Metric
($ millions, except EPS)
4
2007 Initiatives
Leverage asset manager model
Proactively manage risk and capital
Drive operational excellence
Expand global footprint
5
Expanding the Asset Manager Model
Transportation Finance
Develop
aerospace
investment vehicle
Corporate Finance
Enter CLO market
and launch
Healthcare REIT
Consumer/SBL
Increase
originate-to-sell
activity
Release capital
Manage risk
Common Objectives
Provide ongoing capital source
Build non-spread revenue
Leverage platform
Maintain growth
6
Leveraging Originations
Balance Sheet
74%
Sold / Syndicated
26%
Investment Vehicles
2007 Initiatives
‘Hold’
‘Partner / Invest’
‘Distribute’
2006
Loan / Lease Volume
($41 billion)
Net Finance Income
Non-Spread Revenue
7
Balancing Revenue Growth
Revenue Composition
($ in Millions)
$2,218
$2,661
$2,452
$3,057
22%
NSR
Growth
$707
$809
26%
NSR
Growth
8
Non-Performing Assets
Monitoring Credit Quality
Delinquency 60+ Days
Owned portfolio statistics; Consumer/SBL excludes Student Loan Xpress
% of FR
Non-Accrual
Delinquent
% of FR
% of FR
Non-Accrual
Delinquent
% of FR
9
Charge-Offs
Specific
General
Maintaining Adequate Reserves
Loan Loss Reserves vs. Charge-Offs*
(% Finance Receivables)
* Excludes Student Loan Xpress finance receivables.
10
Optimizing the Capital Structure
Total Capital*
($ in Millions)
2007 Update:
Issued $750 million of junior capital with high equity credit
Repurchased $500 million common stock thru accelerated stock repurchase
Called $250 million of trust preferred securities
*Capital = common stock + preferred stock + preferred capital securities + junior capital
**Excludes preferred capital which was called April 2007.
15%
10%
10%
4%
5%
11
Gaining Global Traction
Europe
Acquired factoring platform in Germany
Expanding global relationship with Microsoft
Acquired vendor business in U.K. and Germany
Canada
Full suite of commercial products and services
Expanding middle-market corporate finance team
Asia Pacific
Largest foreign owned leasing company in China
Centralizing vendor servicing in Shanghai
Servicing aerospace region through Singapore
International Portfolio Assets
Canada
Europe
South Pacific
Asia Pacific
Latin America
Other
Recent Initiatives
Approx. $17 billion
24%
45%
8%
5%
10%
8%
12
Driving Operational Excellence
*Guidance as presented on November 7, 2006. This should not be construed as an affirmation or update of that guidance.
* Excludes acquisitions.
Increase sales force productivity
Scale international operations
Consolidate leasing platforms
Expand shared services model
Offshore select functions
Control headcount
Efficiency Ratio
~ 42%
Target
13
Recognizing the Benefit of Diversity
Trade
Finance
Transportation
Finance
Corporate
Finance
Vendor
Finance
Consumer /
SBL
Factoring and other trade products to companies in
retail supply chain, with increasing international focus
Longer-term, large ticket equipment leases and other
secured financing to companies in rail, aerospace
and defense industries
Lending, leasing and other services to middle market
companies, with a focus on specific industries
Financing solutions to manufacturers and distributors
around the globe
Loans to consumers and small businesses,
leveraging intermediary relationships
6%
$23 B
20%
$15 B
13%
$22 B
19%
$12 B
17%
$7 B
ROE
Managed Assets
14
Keys to Enhancing Long-term Profitability
Leverage originations platform
Drive capital allocation and efficiency
Further credit and cost disciplines
Balance revenue streams
15
Specialty Finance
Thomas B. Hallman
Specialty Finance At-a-Glance
CIT-Wide
CIT Bank
U.S. Focus
Consumer /
Small Business Lending
Home Lending
Student Loan Xpress
Small Business Lending
Specialty Finance Group
Global Focus
Vendor Finance
Industrial
Healthcare
Technology / Office Products
Insurance Services
17
Assets: $38 Billion
$6.8 Billion in new business volume
Employees: ~3,900
Global sales force: ~1,000
Large and diversified partner base: Over 5,000
4.3 million consumer and 500,000+ commercial
customers
Global reach: 34 countries
Efficient and scalable platforms serving
customers on 5 continents
Best–in-class risk and collateral
management capabilities
Specialty Finance: Leaders in Relationship Financing
18
12.8%
ROE
47.8%
Efficiency Ratio
$7 Billion
Volume
$381 Million
Revenue
0.72%
Net Charge-offs
$38 Billion
Managed Assets
$94 Million
Net Income
vs. 1Q 2006
1Q 2007
Strong Performance
Challenges
Home Lending returns below expectation
due to US real estate market impact
Accomplishments
Expanded sales force globally and
increased productivity
Executed acquisition strategy to
complement organic growth
Won several global marquee
relationships including Microsoft
Strong Student Loan Xpress performance
Continued strong credit and residual
management performance
200 bps
130 bps
Record growth in Small Business Lending
Vendor finance relationship diversification
ahead of plan
19
Home Lending Overview
20
Consistent Demographics
Business Overview
Broker-driven origination network
Conservative product set
Primarily 1st liens and owner occupied
No negative amortization loans
Limited interest only exposure
No Option ARMs
Centralized servicing
100% appraisal review
Disciplined lending standards define a
sustainable target market
93%
83%
81%
Owner occupied
82%*
80%
77%
LTV at origination
6
9
11
Length of residence
8
9
10
Length of employment
41%
38%
37%
Debt to income
636
625
624
FICO
3/31/07
12/31/03
12/31/99
*LTV (portfolio) estimate based on recent appraisals: 70%
20
FICO
LTV
Uniform Underwriting Standards
700 & Up
650 - 699
600 - 649
550 - 599
Less than 550
Less than or equal to 70%
70.01% - 75%
90.01% - 95%
75.01% - 80%
80.01% - 85%
85.01% - 90%
95.01% - 100%
21
Attractive Product Distribution
Lien Position
First
89%
Second
11%
Term
15 Year 5%
30 Year
69%
40 Year
12%
I/O 11%
Rate
Fixed
42%
Variable
58%
Vintage
Pre-2004
11%
2004 8%
2005
28%
2006
36%
2007
17%
HELOC 4%
22
Low Delinquency vs. Industry
As of December 2006
Data source LoanPerformance
60+ Delinquency Comparison by Geography
CIT
Sub-prime industry
Geographic Diversification
17%
12%
9%
20%
22%
21%
23
Prudent Response to Challenging Market
Softening housing market
Reduced prepayment speeds
Tighter secondary market pricing
Industry consolidation
Market Trends
Initiatives
Tightened underwriting criteria
Added loss mitigation resources
Closed offices
Targeted collection efforts
Raised pricing
Increased reserves
Rising delinquencies
24
Business Highlights
Government guaranteed FFELP collateral
Ninth largest FFELP consolidation loan
originator
Sixteenth largest FFELP Stafford/PLUS loan
originator
Record first quarter originations
Returns doubled from last year
Relationships at more than 1,300 schools
Servicing nearly 2/3 of loans in-house
Performing ahead of expectations
Q1 2007 Update
Student Lending
Portfolio ($ billions)
$9.9
Portfolio
0.4
Private Loans
1.3
Other Guaranteed Loans
$8.2
Consolidation Loans
3/31/07
2005
2.7
2004
1.5
Volume ($ billions)
2006
6.3
Direct Channel
School Channel
Whole Loan
25
Small Business Lending
Growing high return business
Enhance market coverage through expanded
504 and conventional loans
Execute intermediary strategy
(franchise and hospitality)
Add more flow relationships (e.g., with banks)
Continue to aggressively cross-sell with other
businesses at CIT
Volume
($ Billions)
Business Highlights
#1 SBA 7(a) lender to small businesses
– seven consecutive years
Leading lender to women, veterans and minorities
Market leader in medical, dental and
day care segments
Record first quarter performance
26
Insurance Services and CIT Bank
CIT Bank
Insurance Services
Utah Industrial bank – regulated by FDIC
Facilitates asset originations
Vendor finance
Student loans
Mortgages
Target: 10% of CIT funding
Deposits ($ billions)
Centralized expertise
Solid product set
Consumer based programs
Commercial insurance capabilities
to small business & middle-market
companies
Accelerating global roll-out
Strong non-spread revenue source
Revenue ($ millions)
27
Vendor Finance Vision
Global market leadership
Premier sales organization
Marquee customer relationships
Market innovator
The ‘standard’ for operating efficiencies
The Global Leader in Vendor Finance
Technology, Office Products, Healthcare and Diversified
Industries
28
Vendor Finance: At-a-Glance
Business Highlights
Leading Global Vendor Finance Company
Presence approaching 40 countries
Efficient Servicing: 6 strategic locations
serving 5 continents
Sophisticated customer facing and servicing
technology capability
Customer-centric business model
~600 sales representatives
Behavioral-based leasing model
Hundreds of relationships
Sophisticated end of lease expertise
*2006 volume
Managed
Assets
$15 B
Annual
Volume
$8 B*
ROE
20%
29
Rapidly Expanding the Franchise
New marquee relationships
Microsoft
AGFA
Leverage sales organization (~600
professionals) to drive global volume objectives
Increase market penetration in technology,
healthcare and industrial sectors
Enter new segments in Canada, Europe, Latin
America and South Pacific
Build-out Asian operating platform in Shanghai
Expand to new geographies
Barclays
Increased European presence
Expanded sales force (U.K. and Germany)
Primarily industrial and technology leasing
Integration on schedule
CitiCapital
Strategically important US acquisition
Adds valuable vendor relationships
Leverages centralized operating platform
Strong Organic Growth
Recent Strategic Acquisitions
Global leader in Vendor Finance
Manitowoc
Rohde & Schwarz
30
Vendor Finance Competitive Positioning is Very Strong
Captives
Banks
Independents
Organization alignment
to support vendors
Residual management
Global reach
Specialized products and
structures
Balance sheet /
syndication capabilities
Key Attributes
Risk management expertise
Limited
Limited
Limited
Limited
Limited
Limited
Limited
Limited
31
Efficient / Scalable Global Platforms
Jacksonville (U.S.)
Miami (Latin America)
Dublin (Europe)
Shanghai (Asia)
Sydney (South Pacific)
Regional servicing hubs
In-country sales and credit
Scalable systems and processes
34 countries and growing
Operations / Technology
Burlington (Canada)
Servicing Centers
Mexico City
Future Servicing Center
32
Marquee Vendor Relationships
33
Growth Agenda
Increase Relationship
Penetration
Add New
Relationships
Increase End-to-End
Productivity
Pursue Bolt-
on
Acquisitions
Scale Global
Operations
Expand Market
Coverage
34
Appendix
Board of Directors
President & CEO
Martha Stewart Living
Chairman & CEO New York Life
Insurance Co.
Chairman & CEO
C.R. Bard Inc.
President & CEO
ADP
Managing Partner McCarter &
English LLP
Chancellor SUNY
Maritime College
EVP& CFO International
Paper Company
Chairman
TerreStar Networks Inc
Retired
CEO & Chairman
CIT Group Inc.
Current
Position
2006
Susan Lyne
2005
Seymour Sternberg
2005
Timothy M. Ring
2004
Gary Butler
2003
Lois M. Van Deusen
Chair
2003
John R. Ryan
2003
Marianne Miller Parrs
Chair
2003
William M. Freeman
Chair
Lead
2002
Peter J. Tobin
2003
Jeffery M. Peek
Nominating &
Governance
Compensation
Audit
Board Member
Board Committees
Independent
Directors
Member
Since
36
Aircraft
Net Investment
100.0%
244
100.0%
7,318.3
0.8%
2
0.6%
40.5
Leveraged Leases
0.4%
1
0.6%
43.9
Tax-Op. Leveraged Leases
3.3%
8
2.9%
214.2
Capital Leases
14.3%
35
7.9%
580.6
Loans
81.1%
198
88.0%
6,439.1
Operating Leases
%
Number
%
$ millions
Portfolio Composition
Commercial Aerospace
286.0
Millions
Top exposure
Planes
Years
Europe
Asia Pacific
North America
Latin America
Africa / Middle East
Boeing
Airbus
Other
Narrow
Intermediate
Wide
Other
Grouping
43.2%
56.7%
0.1%
Manufacturer
0
Aircraft on the ground
6
Weighted average age
38.6%
24.0%
17.2%
13.5%
6.7%
Geographic diversity
73.7%
22.7%
3.6%
0.1%
Body type
%
Category
0
28
2.3
Thereafter
0
13
0.8
2009
39
86
5.6
Total $
18
24
1.4
2008
21
21
1.1
2007
Placed
Number
Amt ($B)
Year
Portfolio Statistics
Remaining Order Book
37
Proven Acquisition Strategy
Doubled assets
Q1
4,300
Education Loans
EDLG
Solid returns
Q1
860
Factoring
SunTrust
Accelerated build out
Q3
500
Healthcare
HBCC
Closed April 30
Q2
2,000
Vendor Finance (US)
Citigroup
Realized synergies
Q3
700
Vendor Finance
CitiCapital
Strong volume
Q2
520
Technology Leasing
GATX
Completed integration Q107
Q4
700
Diversified equipment
RBS/Citizens
Included serviced fleet
Q4
90
Rail
Bombardier
Established foothold
Hit the ground running
Comments
165
2,000
Assets ($mm)
Q2
Factoring (Germany)
Enterprise Finance
Q1
Vendor Finance (Europe)
Barclays
Closed
Asset Type
Seller
38
Effective Matched Funding
4.7 years
48%
$31 B Debt
2.6 years
53%
$37 B
Fixed
$32 B Debt
Amount
Funding
(after swaps)
52%
Portfolio
Term
Term
Portfolio
Amount
3.9 years
2.5 years
47%
$33 B
Floating
Assets
$7 B Tangible Equity
Margin at Risk
Value at Risk
After-tax impact of $17M (liability sensitive – reduces net income)
Pre-tax impact of $140M (asset sensitive – increases economic value)
Risk Metrics*
*Sensitivity to immediate100 basis point rate increase.
39
2007 Segment Capital Allocations
13%
8% - 15%
4
Transportation Finance
8.5% - 9%
1% - 15%
40
Total
Segment
Average
Capital
Range
No. of Sub-
Segments
5%
8%
10%
11%
1% - 11%
7% - 11%
8% - 13%
8% - 12%
4
Consumer and SBL
15
Vendor Finance
15
Corporate Finance
2
Trade Finance
2007 Refinements
40
Noteworthy Items
41
Non-GAAP Reconciliation
*The preferred capital securities were called on April 10, 2007. On March 16, 2007, $250 million of additional junior subordinated notes were issued in anticipation
of the preferred capital securities call. Accordingly only $500 million of the junior subordinated notes were included in our March 31, 2007 capitalization ratios.
*
42
Financial Statements
Balance Sheet
Income Statement
43