No. CIT and Citi Group are not the same companies nor are they related entities. In fact, they are competitors.. CIT is (or was) Commercial Investment Trust
CIT Group was created in 1908.
The symbol for CIT Group Inc (DEL) in the NYSE is: CIT.
As of July 2014, the market cap for CIT Group Inc (DEL) (CIT) is $9,449,640,967.25.
The CIT in CIT Group stands for Commercial Investment Trust, which was an early name for the group. This Fortune 500 Company was founded in 1908, and is headquartered in New York City, NY.
Commercial Investment Trust
CIT = Was previously Commercial Investment Trust, which was originally Commercial Credit and Investment Company.
CIT Group is a lending firm, mainly for small businesses. They were founded in New York in 1908.
CIT Group provides funding, financial backing and commercial lending to small business and start-up companies. They are a publicly traded company on the New York Stock Exchange under the ticket symbol CIT.
Citibank is one of the largest international banks in the world. Citibank is the owner of Citigroup, which is the third largest banking group in the Unied States.
The ticker symbol for Citigroup is C and it is traded on the New York Stock Exchange. Citicorp became Citigroup in 1998 when they merged with Traveler's Insurance which has since been split off. Citibank is a subsidiary of Citigroup.
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