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Under Chief Executive Christian Sewing, Deutsche Bank has been
trying to repair its reputation after a series of embarrassing
and costly regulatory failings.
In a statement, Deutsche Bank said the search involved
suspicious transactions it had itself passed on to authorities,
and that it was cooperating fully.
The bank's shares fell more than 3% following news of the search
and were down 1.8% in early afternoon in Frankfurt.
Prosecutors said they had a search warrant but declined to
elaborate. They said representatives of financial regulator
BaFin were also taking part.
BaFin and federal police declined to comment.
Problems with money laundering have landed the bank in hot water
in the past.
The U.S. Department of Justice has been investigating it for
years, for example, over trades that authorities said were used
to launder $10 billion out of Russia, which has led to the
German bank being fined nearly $700 million.
Deutsche has said it has beefed up resources to combat money
laundering.
This week, the bank posted a better-than-expected 17% rise in
first-quarter profit as investment banking revenue climbed, but
it warned that the conflict in Ukraine could hurt annual
earnings.
A Reuters witness said that there was no sign of authorities
outside the bank's headquarters on Friday.
(Reporting by Tom Sims, Frank Siebelt and Reuters TV; Editing by
Thomas Escritt, Jason Neely and David Clarke)
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