German police are investigating a large-scale bank vault burglary after thieves drilled into a retail bank branch during the Christmas holiday period and escaped with millions of euros in cash and valuables.
The break-in targeted a Sparkasse bank branch in the western city of Gelsenkirchen and was discovered only after a fire alarm was triggered in the early hours of December 29.
Authorities said the perpetrators exploited reduced activity during the holiday shutdown, when most banks and shops across Germany close from the evening of December 24.
Police estimates suggest the losses could range from 10 million to as much as 90 million euros, making it one of the country’s largest known deposit box thefts.
Investigators said the suspects drilled through a thick concrete wall to access the vault before breaking into roughly 3,000 safety deposit boxes.
More than 2,700 customers were affected, representing over 95 percent of the branch’s deposit box inventory.
Witnesses reported seeing several men carrying large bags in a nearby parking garage on Saturday night.
Video footage later showed masked individuals inside a stolen vehicle leaving the garage early Monday morning.
Police said the car, a black Audi RS 6, carried license plates belonging to a vehicle stolen in Hanover, more than 200 kilometers away.
An earlier fire alarm was triggered on Saturday, but authorities found no visible damage at that time.
The bank remained closed on Tuesday as frustrated customers gathered outside demanding access to the building.
Dozens chanted “Let us in!” as they sought information about their missing property.
One customer told German broadcaster Welt that he had used his deposit box for 25 years and stored his retirement savings there.
Another said he kept cash and jewelry intended for his family.
Sparkasse said each safety deposit box is insured for up to 10,300 euros unless customers arranged additional private coverage.
A spokesperson for the Gelsenkirchen branch did not immediately comment as the investigation continued.