Dell says CIT bankruptcy has “No impact”

21/11/2009

In a presentation to analysts, Dell chief financial officer Brian Gladden (pictured) said that Dell's relationship with CIT and its recent bankruptcy filing has had no impact on Dell Financial Services (“DFS”). Gladden went on to say, “Our CIT international operations are continuing to be fully operational and able to fund new business as we move forward.” 

Gladden also said its DFS business is a “strategic asset for us” and generated $900 million in the new originations in the third quarter. Gladden noted that managed basis losses declined from 8.2 percent to 7.2 percent, driven by favorable delinquency performance in the first half of the year. 

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