CIT’s recent bankruptcy filing has had “no impact” on Dell
Financial Services (DFS), Dell’s CFO, Brian Gladden, has said.
In a third quarter results presentation, Gladden said: “There
has been no impact on DFS, and our CIT international operations are
continuing to be fully operational and able to fund new business as
we move forward.”
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DFS saw new business fall by 8 percent in the third quarter, to
$900 million (€602.6 million), which the lessor attributed to lower
US revenue. Penetration also fell at the lessor, from 14.2 percent
to 13.8 percent of all Dell sales.
However, Gladden noted he was “pleased” with the company’s
progress overall, and added that it continues to be “a strategic
asset for us”.
Although Dell exercised its right to buy CIT out of the DFS’
American business in December 2007, CIT has retained the vendor
finance programmes for Dell’s customers in Canada and over 40
countries outside of the United States.
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