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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) April
20, 1998
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 20, 1998, regarding
its financial results and selected balance sheet information
as of and for the period ended March 31, 1998, 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: April 23, 1998 Title: Controller and Treasurer
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IBM CREDIT CORPORATION REPORTS FIRST-QUARTER 1998 RESULTS
WHITE PLAINS, New York, April 20, 1998 . . . IBM Credit
Corporation today reported first-quarter 1998 net earnings
of $75.7 million, a decrease of 4 percent, compared with
$79.2 million for the same 1997 period.
New financing originations for commercial and government
customers acquiring computer hardware and other information
technology products and services in the first quarter of
1998 increased by 2 percent to $1.35 billion, compared with
$1.32 billion for the first three months of 1997. New
financing originations providing distribution channel
partners with working capital for inventory and accounts
receivable rose 3 percent to $3.21 billion in the first
quarter of 1998, compared with $3.13 billion for the same
1997 period.
At March 31, 1998, total assets were $15.7 billion,
compared with $16.6 billion at December 31, 1997, a decrease
of 5 percent. Retained earnings at March 31, 1998, were
$1.26 billion, compared with $1.21 billion at December 31,
1997, an increase of 4 percent. The return on average equity
was 17.9 percent, compared with 22.1 percent in the first
quarter of 1997.
IBM Credit Corporation in the United States, and the IBM
Global Financing organizations worldwide, offer businesses
of all sizes leasing and financing for technology acquired
from IBM or remarketers. IBM Credit and the IBM Global
Financing organizations also offer customers in more than 40
countries a broad array of asset management services and
provide remarketers with inventory and accounts receivable
financing. Visit the IBM Global Financing home page at
www.financing.ibm.com
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