Operating profits at Dresdner Bank's corporate and investment banking division more than doubled to €263m ($336m) in the first quarter, putting Stefan Jentzsch on track to meet his €4bn annual revenue target after one quarter in charge.

Operating profits in the division, formed at the start of the year when it combined its corporate banking business with Dresdner Kleinwort Wasserstein, its investment banking arm, surged from €107m in the first quarter of last year.