German federal police searched Deutsche Bank offices in Frankfurt and Berlin on Wednesday as part of a money laundering investigation into unidentified individuals and bank employees, with prosecutors examining the lender's past business relationships with foreign companies suspected of being used for illicit financial activity.

Frankfurt prosecutors said the searches targeted Deutsche Bank executives and employees on suspicion of money laundering and related offences under Germany's Money Laundering Act. The prosecutors said the bank had "maintained business relationships in the past with foreign companies which, in the course of further investigations, are themselves suspected of having been used for money laundering purposes".

Deutsche Bank confirmed the searches but declined to provide details. "The bank is cooperating fully with the public prosecutor's office," a spokesperson said.

The investigation represents the latest in a series of money laundering scandals at Germany's largest bank. In January 2017, Deutsche Bank paid regulators $630 million in fines over trades authorities said were used to launder $10 billion out of Russia.

The searches come a day before Deutsche Bank is due to report its 2025 results, which analysts' consensus forecasts suggest could deliver its biggest net profit since 2007. The bank's shares fell 3 per cent in mid-afternoon trading on Wednesday.

The operation appeared more restrained than previous raids, with no visible police presence at Deutsche Bank's headquarters in central Frankfurt. This contrasted with earlier searches in which multiple police vehicles parked outside the building.

Two sources familiar with the matter told Reuters the case involved transactions between 2013 and 2018, though prosecutors declined to comment on the timeframe. German media reported possible links to Russian billionaire Roman Abramovich, though his lawyers dismissed the claims as "entirely false and inaccurate".

A legal representative for Abramovich said he has "no connection" to the raids and "is neither under investigation nor suspected of any wrongdoing". The representative added that "the searches conducted this week relate solely to Deutsche Bank's alleged failure to comply with statutory reporting obligations".

In 2018, police spent two days searching the bank as part of an investigation into money laundering allegations linked to the Panama Papers. The bank was searched again in 2022 over suspicious activity reporting.

Deutsche Bank chairman Alexander Wynaendts told investors last year that "further strengthening and developing our internal controls remains a priority for us".

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