Deutsche Bank confirmed its offices in Frankfurt had been searched on Tuesday and said investigators were looking for evidence related to client transactions, with no Deutsche Bank employees accused of wrong-doing.
A spokesman for Germany's largest lender said the raid had been conducted on behalf of prosecutors in the German city of Wiesbaden, who were seeking evidence of securities transactions by the bank's clients.
A source familiar with the situation told Reuters the raid was related to German private bank Sal. Oppenheim, which Deutsche Bank bought in 2010.
Deutsche Bank shares extended losses to trade down 3.2 percent by 6 a.m. EDT, in line with the STOXX Europe 600 banking index .SX7P.
The lender, which on Sunday announced the surprise departure of its Co-Chief Executives Anshu Jain and Juergen Fitschen following a sharp drop in shareholder confidence in the pair, has been straining to rebuild its reputation in face of a raft of legal and regulatory problems.
Those problems have prompted billions of dollars in fines and settlements.
Authorities have repeatedly raided its offices in recent years in connection with investigations linked to the collapse of the Kirch media empire and a tax fraud case related to the trading of carbon dioxide emissions rights.
