© Reuters. 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:) 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.
Be the first to comment