FRANKFURT (Reuters) – Prosecutors, federal police and other officials are conducting a search at Deutsche Bank 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.
(Reporting by Tom Sims and Frank Siebelt, editing by Thomas Escritt)
