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Bloomberg
Deutsche Bank AG Chief Executive Officer Christian Sewing launched a further internal investigation into the lender’s role as correspondent bank for scandal-ridden Danske Bank’s Estonian unit, even though he hasn’t seen any evidence of wrongdoing.
The bank had previously probed its role in the case as well as any involvement in a tax evasion scheme “long before the cases became publicâ€, Sewing said at an event in Berlin. He said the bank has revived its investigation but urged the audience not to “prejudge†the bank and its employees and presume their innocence until proven guilty.
Deutsche has a “strong interest in continuing to clear up†the two cases, Sewing said. But “we have no indications to date for any wrongdoing on our part†in either instance, he said.
Scrutiny of Deutsche Bank’s involvement in the two cases intensified in November and December and contributed to a steep decline in its share price as investor concern about potential future legal bills increased. The bank’s shares were up as much as 2.4 percent on Wednesday and traded 1.8 percent higher at 10:16 am.