Citigroup reported net income for the first quarter 2013 of $3.8 billion or $1.23 per diluted share, on revenues of $20.5 billion. Analysts polled by Thomson Reuters had expected EPS of $1.18.
Southwest Airlines said it obtained a $1 billion credit facility from a syndicate of lenders that included Citibank and JPMorgan Chase as co-administrative agents.
Bloomberg reported that Citigroup, ING, LBBW and Mizuho Financial are arranging a $3 billion revolving credit facility for chemicals maker BASF to replace a credit line maturing next year.
Citi CEO Michael Corbat announced the appointments of Jamie Forese and Manuel Medina-Mora as co-presidents of Citi. Corbat also said that Brad Hu, currently head of risk for the Asia Pacific region, will become Citi’s chief risk officer.