Deutsche Bank headquarters raided over past transactions involving its subsidiary Postbank

Glonghui, July 22｜According to Bloomberg, Deutsche Bank's headquarters in Frankfurt were searched by prosecutors on Wednesday in connection with past transactions conducted by its retail subsidiary, Postbank. Sources revealed this is related to so-called Cum-Cum transactions. Cum-Cum transactions refer to the temporary transfer of shares by shareholders to foreign investors, serving as a cross-border dividend tax avoidance method. A Deutsche Bank spokesperson stated that, to the best of the bank's knowledge, the incident involves transactions carried out by Postbank during the period from 2008 to 2010. The bank is fully cooperating with authorities in the investigation and was searched as a third party in this case.