The Cologne public prosecutor's office has been searching the Frankfurt offices of the major French bank BNP Paribas SA with around 130 investigators since Tuesday.
The reason for the raid are investigations by the authority into the Cum-Ex tax scandal.
A BNP spokesman confirmed the search and said the institute was cooperating.
A spokesman for the Cologne public prosecutor's office confirmed the measure at a bank in Frankfurt without naming them.
The Handelsblatt had previously reported on the search.
According to the public prosecutor, the investigations are directed against 58 suspects, including former and current employees of the bank.
"Against this background, residential addresses of suspects in Hesse, North Rhine-Westphalia and Rhineland-Palatinate are also being searched," the authority wrote in a statement.
The cum-ex trading strategy (Latin for "with-without") exploited weaknesses in dividend taxation in order to have this tax reimbursed several times.
Germany put a stop to the practice in 2012.
Cum-Ex has cost taxpayers an estimated more than 10 billion euros over the years.
Although the cum-ex scandal's roots go back more than a decade, it continues to rock the financial industry.
The Cologne public prosecutor's office is investigating more than 1,500 people and has recently increased the pressure on international banks.