cit Q4%20Earnings%20Release%20Final-merged%20Final

- CIT reported record quarterly and annual results for Q4 2006 and full year 2006, with EPS growth of 16% and 15% respectively excluding noteworthy items. - Key drivers were strong loan and lease origination volume of $11.6 billion in Q4 2006, up 20% from prior year, leading to higher other revenue from gains on receivable sales and syndications. - Credit quality remained solid across segments despite some increases in consumer metrics, and full year net charge-offs declined. - Expenses increased due to investments in sales force and origination platforms, but efficiency ratio improved slightly. - As a result, CIT increased 2007 EPS guidance to $5.40