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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) October
20, 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 October 20, 1997, regarding
its financial results and selected balance sheet information
as of and for the period ended September 30, 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: October 20, 1997 Title: Controller and Treasurer
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IBM CREDIT CORPORATION REPORTS 1997 THIRD-QUARTER RESULTS
WHITE PLAINS, New York, October 20, 1997 . . . IBM Credit Corporation
today reported third-quarter 1997 net earnings of $62.4 million, a
decrease of 13 percent, compared with $71.6 million for the same 1996
period. The return on average equity was 18.7 percent, compared with
22.9 percent in the third quarter of 1996.
Capital equipment financing originated for end users in the third
quarter of 1997 rose 46 percent to $1,742.8 million, compared with
$1,189.9 million in the third quarter of 1996. Working capital financing
originated for distribution channels in the third quarter of 1997
increased by 7 percent to $3,868.5 million, compared with $3,602.4
million for the same 1996 period.
At September 30, 1997, total assets were $15.3 billion, compared with
$12.9 billion at December 31, 1996, an increase of 19 percent. Retained
earnings at September 30, 1997, were $1,137.9 million, compared with
$977.6 million at December 31, 1996, an increase of 16 percent.
For the first nine months of 1997, net earnings were $210.2 million,
a decrease of 4 percent, compared with
$219.6 million for the same period in 1996. For
the first nine months of 1997, capital equipment financing originated for
end users increased by 26 percent to $4,640.4 million, compared with
$3,691.1 million for the first nine months of 1996. For the first nine
months of 1997, working capital financing originated for distribution
channels increased by 15 percent to $10,661.2 million, compared with
$9,290.0 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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