FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of a Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month(s) of: July 13, 1998
NEWCOURT CREDIT GROUP INC.
BCE Place, 181 Bay Street
Suite 3500, P.O. Box 827
Toronto, Ontario
Canada, M5J 2T3
[Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.]
Form 20-F / / Form 40-F /X/
[Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.]
Yes / / No /X/
[If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b)]
82-
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: July 13, 1998
NEWCOURT CREDIT GROUP INC.
By: John P. Stevenson
Corporate Secretary
News Release
For immediate release
Trading Symbol: NCT Contact: Robyn Matsumoto
Exchange Listings: Toronto Corporate Affairs
Montreal (416) 594-5308
New York
Canadian-based Newcourt jumps to second largest
North American asset-based lender
Industry nears US$300 billion with record growth
of 23.3% in 1997 volume
Toronto, July 13, 1998 - In a recently published
survey by the U.S. financial industry newspaper
The Monitor, Toronto-based Newcourt vaulted to
the second largest asset-based finance company
and maintained its market leading position as the
largest "Independent" for the second straight
year. The annual survey ranks the largest 100
companies operating in North America specializing
in providing equipment-related loans and leases.
The survey segments data by financial institution
ownership: US Industrial Affiliates; US Bank
Affiliates; Independents; Foreign Affiliates; and
Captives.
The Monitor, recognizing Newcourt's January 1998
acquisition of AT&T Capital, as "all but
completed by year-end", combined the two
companies' 1997 results for the purpose of the
survey. Newcourt reported net assets in excess of
US$20.2 billion for 1997, an increase of more
than 22% over the same period last year. Overall,
Newcourt now ranks second behind GE Capital
compared to 13th place in 1996.
Newcourt gaining ground with new business volume
In terms of new business volume, Newcourt earned
the second spot overall, up from its seventh
place ranking in 1996. Newcourt generated loan
originations totaling more than US$11.8 billion
in 1997, up more than 27% from US$9.2 billion for
the same period in 1996. Volume growth numbers
are considered the most indicative of industry
trends, and Newcourt's gain was the largest
percentage increase.
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Industry volume growth forecast to exceed US$162
billion for 1998
The survey reports that in 1997, the asset-based
finance industry in the U.S. grew to US$299
billion and originated US$136 billion in new
business, an increase of 17% and 23% respectively
from 1996's results. The Monitor's analysis of
survey responses indicated the industry as a
whole would reach total net assets of $350
billion in 1998 with annual volume of $162
billion produced during the current year. If
achieved, these results would represent an
increase of 17% and 19% respectively.
The Monitor is published bimonthly by Molloy
Associates of Ardmore, Pennsylvania. 1997 marks
the seventh anniversary of the "Monitor 100"
annual survey. The survey is based on data
provided to the publication from companies across
North America.
Newcourt is one of the world's leading sources of
asset-based financing serving the corporate,
commercial and institutional markets with owned
and managed assets of $31.9 billion (US$22.4
billion) and a global distribution capability in
24 countries.
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