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Report: Deutsche Bank agrees to €10M fine in Swiss unit tax case

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Report: Deutsche Bank agrees to €10M fine in Swiss unit tax case

Deutsche BankAG reached an agreement with public prosecutors in Cologne,Germany, leading the German bank to pay a fine of €10 million in a taxavoidance case involving its Swiss unit, Reuters reported April 8, citing aperson familiar with the case.

Deutsche Bank unit Deutsche Bank(Suisse) SA was undergoing an investigation for allegedlyhelping clients to avoid tax payments in Germany.

The German lender is facing a similar probe involving itsLuxembourg unit, which could cost it "less than" €10 million,according to the report, citing German daily Süddeutsche Zeitung.