Reuters: Bankruptcy News: CIT posts profit as interest payments fall

Reuters: Bankruptcy News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

CIT posts profit as interest payments fall Jul 23rd 2013, 10:36 July 23 | Tue Jul 23, 2013 6:36am EDT July 23 (Reuters) - CIT Group Inc reported a second-quarter profit compared with a loss a year earlier as the small-business lender spent less to cover interest payment on long-term debts. Net income was $183.6 million, or 91 cents per share, for the quarter ended June 30, compared with a loss of $72.9 million, or 36 cents per share, a year earlier. The New York-based lender's interest payments on its long-term debt fell 60 percent to $236.6 million.

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