A Deutsche Bank spokesperson confirmed in a statement to Reuters Monday that the lender acted as a correspondent bank for Danske in Estonia. "Our role was to process payments for Danske Bank. We terminated the relationship in 2015 after identifying suspicious activity," the spokesperson said.
The bank's shares sank more than 4 percent on Tuesday morning, hitting record lows.
On Monday, the whistleblower who revealed the alleged money laundering involving Danske Bank said that a major European bank was involved in helping process up to $150 billion in suspicious payments, Reuters reported. Howard Wilkinson, the head of Danske Bank's trading unit in the Baltics from 2007 to 2014, did not name any bank but a spokesperson for Deutsche Bank later confirmed its role in the statement to the news agency.