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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 (Date of earliest event reported) July
21, 1997
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, Room 3C2108
White Plains, New York 10604
__________________________________________ ___________
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (914) 642-3000
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 April 23, 1997, regarding
its financial results and selected balance sheet information
as of and for the period ended March 31, 1997, 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/ Michael J. Twomey
______________________________
Name: Michael J. Twomey
Date: July 21, 1997 Title: Controller and Treasurer
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IBM CREDIT CORPORATION REPORTS 1997 SECOND-QUARTER RESULTS
WHITE PLAINS, New York, July 21, 1997 . . . IBM Credit Corporation
today reported second-quarter 1997 net earnings of $68.6 million, a
decrease of 7 percent, compared with $74.1 million for the same 1996
period. The return on average equity was 20.0 percent, compared with
23.8 percent in the second quarter of 1996.
Capital equipment financing originated for end users in the second
quarter of 1997 rose 24 percent to $1,574.2 million, compared with
$1,267.8 million in the second quarter of 1996. Working capital
financing originated for distribution channels in the second quarter of
1997 increased by 17 percent to $3,665.0 million, compared with $3,137.5
million for the same 1996 period.
At June 30, 1997, total assets were $14.4 billion, compared with
$12.9 billion at December 31, 1996, an increase of 12 percent. Retained
earnings at June 30, 1997, were $1,075.4 million, compared with $977.6
million at December 31, 1996, an increase of 10 percent.
For the first half of 1997, net earnings were $147.8 million,
compared with $148.0 million for the same period in 1996. For the first
half of 1997, capital equipment financing originated for end users
increased by 16 percent to $2,897.6 million, compared with $2,501.2
million for the first half of 1996. For the first half of 1997, working
capital financing originated for distribution channels increased by 19
percent to $6,792.7 million, compared with $5,687.6 million for the
same 1996 period.
IBM Credit Corporation is a wholly owned subsidiary of IBM
Corporation, offering businesses of all sizes end-user 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. Visit the IBM
customer financing home page at www.financing.ibm.com
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