Deutsche Bank will not do business in the future with US President Donald Trump or his companies in the wake of his supporters’ assault on the US Capitol.
Deutsche Bank is Trump’s biggest lender, with about $340 million in loans outstanding to the Trump Organization, the president’s umbrella group currently overseen by his two sons, according to banking sources.
The move, reported by New York Times, comes as Signature Bank – where Trump’s ethics disclosures show he has checking and money-market accounts – called for him to step down.
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“The resignation of the president … is in the best interests of our nation and the American people,” Signature Bank said on its website.
A spokesman for Deutsche Bank declined to comment on the NYT report.
Christiana Riley, the head of Deutsche Bank’s US operations, condemned last week’s violence in Washington.
“We are proud of our constitution and stand by those who seek to uphold it to ensure that the will of the people is upheld and a peaceful transition of power takes place,” she said.
NEGATIVE PUBLICITY
Reuters reported in November that Deutsche Bank was already looking for ways to end its relationship with Trump following the US elections, after tiring of the negative publicity.
Trump’s loans with Deutsche are for a golf course in Miami and hotels in Washington and Chicago.
The president was also rebuked by the world of professional golf this week, with the PGA of America and the R&A both announcing they would shun two courses owned by the President in the wake of the Capitol storming.
- Reuters
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