Deutsche Bank is back in the crosshairs of German law enforcement. Public prosecutors searched the firm’s Frankfurt headquarters in connection with old transactions tied to Postbank, the retail banking brand Deutsche Bank absorbed over the course of the 2010s.
What we know about the search
German public prosecutors carried out the search at Deutsche Bank’s Frankfurt headquarters, targeting historical Postbank transactions. The precise nature of those transactions has not been fully disclosed publicly.
This is not Deutsche Bank’s first encounter with prosecutors showing up at its front door. In 2018, the bank’s offices were raided as part of the fallout from the Panama Papers scandal. In 2022, prosecutors searched its premises again, that time over greenwashing allegations tied to its asset management arm, DWS.
Deutsche Bank completed its full acquisition and integration of Postbank around 2018, folding the retail brand into its consumer banking operations after a drawn-out takeover process that began years earlier. Former Postbank shareholders have argued for years that Deutsche Bank undervalued their shares during the acquisition. In April 2024, Deutsche Bank responded to that pressure by setting aside a provision of up to $1.4 billion to address the shareholder litigation.
