Citigroup awarded stock worth nearly $60m (€46m) to its top executives last week, in spite of admitting in its full-year results last week that surging costs in the US had flattened global corporate and investment banking profits.

Robert Druskin, chief executive of the investment bank and chief operating officer, received stock worth about $6.5m according to last week's price, taking the value of his holding to more than $65m. Profits in the investment bank grew 3% to $7.1bn last year.