CIT profit falls 33 pct on lower interest income, fees

April 29 Tue Apr 29, 2014 6:40am EDT

April 29 (Reuters) - CIT Group Inc reported a 33 percent fall in quarterly profit as the small-business lender earned lower interest and fees on loans.

The lender's net income fell to $109.1 million, or 55 cents per share, for the first quarter ended March 31, from $162.6 million, or 81 cents per share, a year earlier.

Total interest income fell about 9.4 percent to $323.3 million. (Reporting by Avik Das in Bangalore; Editing by Saumyadeb Chakrabarty)

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