Deutsche Bank “probed over hiding losses”

Germany’s Central bank and the country’s financial watchdog Bafin are reportedly conducting an in-depth investigation of Deutsche Bank accounts, EuroNews reports.

Sources tell Reuters the probe is over allegations that it failed to correctly value derivatives investments during the financial crisis in order to hide as much as nine billion euros in losses.

Deutsche Bank had earlier said that an independent investigation by a law firm had found the allegations to be wholly unfounded.

It declined to comment on this investigation.

Source: EuroNews