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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report: October 21, 1996
(Date of earliest event reported)
IBM CREDIT CORPORATION
_________________________________________________
(Exact Name of Registrant as Specified in Charter)
Delaware 1-8175 22-2351962
____________________________ _____________ _____________________
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
1133 Westchester Avenue
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White Plains, New York 10604
__________________________________________ ___________
(Address of Principal Executive Offices) (Zip Code)
(914) 642-3000
_______________________________
(Registrant's telephone number)
Not Applicable
_____________________________________________________________
(Former Name or Former Address, if changed Since Last
Report)
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Item 5. Other Events
The Registrant's press release dated October 21, 1996, regarding
its financial results and selected balance sheet information
as of and for the period ended September 30, 1996, is
attached.
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 duty authorized.
IBM CREDIT CORPORATION
(Registrant)
By:
/s/ Kimberly A. Kispert
______________________________
Name: Kimberly A. Kispert
Date: October 21, 1996 Title: Controller and Treasurer
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IBM CREDIT CORPORATION REPORTS 1996 THIRD-QUARTER RESULTS
WHITE PLAINS, N.Y., October 21, 1996 . . . IBM Credit Corporation
today reported third-quarter 1996 net earnings of $71.6 million,
an increase of 34 percent, compared with $53.5 million for the same
1995 period. The return on average equity was 22.9 percent, compared
with 21.7 percent in the third quarter of 1995.
Capital equipment financing originated for end users in the
third quarter of 1996 rose 18 percent to $1,189.9 million, compared
with $1,005.2 million in the third quarter of 1995. Working capital
financing originated for distribution channels in the third quarter
of 1996 increased by 42 percent to $3,602.4 million, compared
with $2,529.4 million for the same 1995 period.
At September 30, 1996, total assets were $12.1 billion, compared
with $11.4 billion at December 31, 1995, an increase of 6 percent.
Retained earnings at September 30, 1996, were $926.2 million, compared
with $751.6 million at December 31, 1995, an increase of 23 percent.
For the first nine months of 1996, net earnings were $219.6 million,
compared with $175.4 million for the same period in 1995, an
increase of 25 percent.
For the first nine months of 1996, capital equipment financing
originated for end users increased by 17 percent to $3,691.1
million, compared with $3,156.6 million for the first nine
months of 1995. For the first nine months of 1996, working
capital financing originated for distribution channels increased
by 31 percent to $9,290.0 million, compared with $7,090.2
million for the same 1995 period.
IBM Credit Corporation is a wholly owned subsidiary of IBM
Corporation, offering end-user customer leasing and financing for
IBM and complementary solutions and non-IBM information technology
acquired from IBM or remarketers. A broad array of asset management
services is offered, and IBM Credit also provides remarketers with
inventory and accounts receivable financing.
