German police searched Deutsche Bank offices in Frankfurt and in Berlin on Wednesday morning, as part of an investigation into money laundering.
Shares in the German lender were last seen down about 2.7% following news of the probe, which was first reported by Spiegel.
“We confirm Frankfurt prosecutors are currently conducting an investigation at Deutsche Bank’s business premises,” the bank said in a statement.
“We are cooperating fully with prosecutor’s office. We cannot comment further on this matter.”
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Deutsche Bank.
The investigation comes a day before the German lender is due to publish its fourth quarter and year-end earnings report.
In 2022, German law enforcement searched Deutsche Bank’s Frankfurt offices as part of an earlier money laundering probe. In May that year, the German bank and its DWS subsidiary were investigated regarding allegations of greenwashing at the latter.
In 2018, Deutsche Bank was inspected by 170 law enforcement officials as part of a tax evasion probe into two employees.
The investigation — which stemmed from the 2016 so-called “Panama papers” leak — was later dropped, with the lender fined over compliance shortcomings.