Dresdner Kleinwort employees will not receive bonuses that had been previously promised to them, unless they had a legally-binding guarantee, German parent Commerzbank told staff today, as it reported a second annual loss in its corporate and markets division. It also continued to put pressure on those employees with guaranteed bonuses to give up the payments as a sign of goodwill.

Commerzbank said that, contrary to previous statements, no staff would this year receive a bonus, except for certain employees - including some working for Dresdner Kleinwort and corporates and markets - who will receive "individual extra payments, according to the bank.