Trump ditched by biggest lender Deutsche Bank for future business
FRANKFURT (Reuters) – Deutsche Bank will no longer do business with US President Donald Trump or his companies in the future following his supporters’ assault on the US Capitol, The New York Times reported.
Deutsche Bank is Trump’s largest lender, with around $ 340 million in loans outstanding to the Trump Organization, the president’s umbrella group currently overseen by his two sons, according to Trump’s disclosures with the US Office of Government Ethics dated July 31 of last year, plus banking sources.
The move, reported by the NYT and citing someone familiar with the thinking of the bank, comes as Signature Bank – where Trump’s ethical disclosures show he has checking accounts and the money market – called on him to shut down. remove.
“The president’s resignation … is in the best interests of our nation and the American people,” Signature Bank said on its website.
A spokesperson for Deutsche Bank declined to comment on the NYT report on Tuesday.
The Trump organization did not immediately respond to an email seeking comment outside of normal business hours, and the White House press office did not answer the phone.
Christiana Riley, head of US operations at Deutsche Bank, condemned the January 6 violence in Washington in a post on LinkedIn last week.
“We are proud of our Constitution and support those who seek to uphold it to ensure that the will of the people is respected and that a peaceful transition of power takes place,” she wrote.
Reuters reported in November that Deutsche Bank was looking for ways to end its relationship with Trump after the U.S. election as it grew weary of the negative publicity resulting from those relationships.
Trump’s loans with Deutsche are for a golf course in Miami and hotels in Washington and Chicago.
The president was berated by the professional golf world this week, with the PGA of America and the R&A both announcing they would avoid two president-owned courses in the wake of the Capitol storming.
Twitter and Facebook shut down Trump’s social media feeds.
(Reporting by Tom Sims; Editing by Louise Heavens and Pravin Char)