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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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