Deutsche Bank raided by German police in money laundering probe

German police carried out raids at Deutsche Bank 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.”

The investigation comes a day before the German lender is due to publish its fourth quarter and year-end earnings report.

This is a breaking story. Please check back for updates.