Deutsche Bank AG (DBKGn.DE) said two of its traders were arrested in a Hong Kong bribery probe, yet more bad news for the bank which has come under increased scrutiny from regulators across the globe.
The case marks the bank's third major brush with regulators in the Asia region, where Deutsche wants to almost double revenues to around 4 billion euros ($5.78 billion) this year compared with 2008 levels. [ID:nWEA5547] [ID:nWEA5552]
"Deutsche Bank was advised by the Independent Commission Against Corruption of the arrest of two employees, both warrants traders in Hong Kong. The two traders were immediately placed on leave from the bank until the matter is resolved," a bank spokesman said on Friday.
The bank said it was not under investigation itself and that it was fully assisting with the probe.
On Thursday Hong Kong's commission against corruption (ICAC) said it had arrested 11 people "for alleged bribery in relation to fraudulent trading of derivative warrants issued by a bank".
The ICAC did not identify any of the people detained or the bank involved.
Deutsche Bank shares were trading 0.9 percent lower at 1143 GMT on Friday, underperforming the German blue-chip DAX index which was up 0.4 percent.
Two Deutsche Bank traders arrested in Hong Kong
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