Citigroup awarded stock worth nearly $70m (€58m) to its top executives last week before the announcement of its 2005 results, in which profits from its corporate and investment banking division more than tripled.

Robert Druskin, who runs the operation, received deferred stock worth about $5.3m on the basis of last week's price, taking the value of his holding to $55.2m. Profits at the division reached $6.9bn last year and its pre-tax profit margin quadrupled to 41%.