Thieves drill into German bank vault and steal millions

Thieves stole property worth tens of millions of euros from safe deposit boxes at a German bank during the holidays.

Police and Sparkasse bank said around 2,700 bank customers were affected by the theft in Gelsenkirchen on Monday.

Approximately 3,000 safe deposit boxes, accounting for more than 95 percent of the bank’s stock, were broken into.

Police spokesman Thomas Nowaczyk said investigators believed the value of the theft was between €10 million and €90 million ($A18 million-$A158 million).

German news agency DPA reported that the theft could be one of the biggest thefts in Germany.

The bank remained closed Tuesday after about 200 people showed up to get inside.

On the Sparkasse website, it is stated that each safe deposit box will be insured for 10,300 euros, unless a bank customer also obtains private insurance.

A fire alarm summoned police officers and firefighters to the bank branch shortly before 4 a.m. Monday.

They found a hole in the wall and searched the safe.

Police believe a large drill was used to break through the vault’s basement wall.

Witnesses told investigators they saw several men carrying large bags in a nearby parking lot over the weekend.

Police said video from the garage showed masked men inside a stolen vehicle early Monday.

The fire alarm was also activated on Saturday, but officials could not find any damage.