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Deutsche Bank offices searched by authorities – Frankfurt prosecutors

2022.04.29 13:10

Deutsche Bank offices searched by authorities - Frankfurt prosecutors
FILE PHOTO: The headquarters of Germany’s Deutsche Bank are pictured in Frankfurt, Germany, September 21, 2020. REUTERS/Ralph Orlowski/File Photo

FRANKFURT (Reuters) – Prosecutors, federal police and other officials are conducting a search at Deutsche Bank (ETR:DBKGn) in Frankfurt, the city’s prosecutors said on Friday.

Prosecutors declined to state the reason for the action. It said representatives of financial regulator BaFin were also taking part.

A spokesperson for Deutsche Bank declined to comment. BaFin declined to comment.

Deutsche Bank, under Chief Executive Christian Sewing, has been trying to repair its reputation after a series of embarrassing and costly regulatory failings.

Earlier this week, the bank posted a better-than-expected 17% rise in first-quarter profit as investment banking revenues climbed, but it warned that the Russia-Ukraine conflict could hurt annual earnings.

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