One sometimes gets the impression that IBM Corp is more solicitous over the needs of its Stamford, Connecticut-based IBM Credit Corp subsidiary than it is over its own, and yesterday, in the wake of the parent’s big $285m loss, IBM Credit was able to announce that profits actually rose 0.3% at $58.3m; the return on average equity was 20.2%, compared with 21.3% in the firstquarter of 1992 and in the first three months of 1993, IBM Credit originated financing for $1,700m of equipment, software and services for IBM’s customers and distribution channels, down 22% on the figure for the first quarter 1992 – financing for end users decreased by 45% to $600m while financing for distribution channels decreased by 1% to $1,100, the company noted.
