Former Dresdner Kleinwort chief executive Stefan Jentzsch appeared in a London court on Monday to back up bankers’ claims over unpaid bonuses, although admitted that no formal commitments from the bank had been made to individual employees.

Appearing on the first day of a two-day witness testimony at London's Royal Courts of Justice, Jentzsch confirmed a €400m minimum guaranteed bonus pool was created and communicated to staff in a "town hall" meeting in August 2008.