FRANKFURT (Reuters) – Deutsche Bank will not do business with US President Donald Trump or his companies in the future following the assault of his supporters on the US Capitol, reports the New York Times.
Deutsche Bank is Trump’s largest lender of credit, with about $ 340 million in loans outstanding to the Trump Organization, the president’s umbrella group currently under the supervision of his two sons, according to Trump’s revelations with the US Office of Government Ethics dated July 31 last year , plus bank resources.
The move, reported by the NYT and referring to a person familiar with the bank’s thinking, comes as Signature Bank – where Trump’s ethical revelations show he has check and money market accounts – asked him to retire.
“The resignation of the President … is in the best interests of our country and the American people,” Signature Bank said on its website.
A Deutsche Bank spokesman declined to comment on the NYT report on Tuesday.
The Trump organization did not immediately respond to an e-mail commenting outside normal office hours, and the White House press office did not answer the phone.
Christiana Riley, head of Deutsche Bank’s US operations, condemned the violence on January 6 in Washington in a post on LinkedIn.
“We are proud of our Constitution and stand by those who want to uphold it to ensure that the will of the people is upheld and 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 US election because it was tired of the negative publicity stemming from the ties.
Trump’s loans from Deutsche are for a golf course in Miami and hotels in Washington and Chicago.
The president was reprimanded this week by the world of professional golf, with the PGA of America and the R&A both announcing that they would avoid two courses owned by the president following the storms of the Capitol.
Twitter and Facebook have shut down Trump’s social media feeds.
(Reporting by Tom Sims; Editing by Louise Heavens and Pravin Char)