Thomas Lohnes/Getty

Deutsche Bank DB shares hit a fresh all-time low Friday as prosecutors and tax inspectors continued to search its Frankfurt headquarters as part of an ongoing probe into money laundering allegations linked to the publication of the Panama Papers.

The raid, which also included the offices of all of Deutsche Bank's board members, according to a Reuters report, is said to be focused on two unnamed bank employees alleged to have assisted clients in hiding money offshore between 2013 and 2018. It also followed an allegation that Deutsche Bank was the unnamed "major European bank" that helped process around $150 billion in payments linked to the Danske Bank money-laundering scandal that was revealed earlier this year.

"As far as we are concerned, we have already provided the authorities with all the relevant information regarding Panama Papers," Deutsche Bank said in a statement provided to TheStreet late Thursday. "Of course, we will cooperate closely with the public prosecutor's office in Frankfurt, as it is in our interest as well to clarify the facts. In recent years, we have proven that we fully cooperate with the authorities - and we will continue to do so."

Deutsche Bank shares hit a record low of €8.032 each by mid-morning in Frankfurt before paring the decline to €8.064 each, a move that extends the stocks year-to-date decline past 50% to an all-time low and trims its market value to around €16 billion.

The Frankfurt raid is the latest turmoil to sweep across Germany's largest lender, which has lost more than half its market value since asking investors for an $8.5 billion capital increase in March 2017 following a multi-billion settlement with U.S. legal authorities linked to the mis-selling of mortgage bonds in the run-up to the global financial crisis.

Regarding the Panama Papers investigation: Of course, we will cooperate closely with the public prosecutor's office in Frankfurt.
My statement to @CNBC:

— Jörg Eigendorf (@JoergEigendorf) November 29, 2018

Deutsche Bank has targeted significant costs cuts across its global operations, including a pullback in its investment banking division in the United States, as part of a larger effort to re-align its focus to domestic and European markets amid years of losses and the failure of the second phase of the Federal Reserve's stress tests this summer over concerns with the way Deutsche Bank's U.S. division forecast future revenues in the face of a theoretical global recession, and a spike in domestic unemployment, and "material weaknesses" its data capabilities and capital planning processes.