FRANKFURT (Reuters) – Deutsche Bank will not do future business with US President Donald Trump or his companies in the wake of his supporters’ assault on the US Capitol, the New York Times reported.
Deutsche Bank is Trump’s largest lender, with about $ 340 million in outstanding loans to the Trump Organization, the president’s umbrella group currently overseen by his two sons, according to Trump’s disclosures with the U.S. Office of Government Ethics. As of July 31 of last year, plus banking sources.
The move, reported by the NYT and citing a person familiar with the bank’s thinking, comes when Signature Bank, where Trump’s ethics disclosures show he has checking and money market accounts, asked him to resign.
“The resignation of the president … is in the best interest of our nation 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 email seeking comment outside of normal business hours, and the White House press office did not answer the phone.
Christiana Riley, Deutsche Bank’s chief US operations officer, condemned the January 6 violence in Washington in a LinkedIn post last week.
“We are proud of our Constitution and we support those who seek to defend it to ensure that the will of the people is respected and a peaceful transition of power takes place,” he wrote.
Reuters reported in November that Deutsche Bank was looking for ways to end its relationship with Trump after the US election, as it tires of the negative publicity stemming from the ties.
Trump’s loans with Deutsche are for a golf course in Miami and hotels in Washington and Chicago.
The president received a reprimand from the professional golf world this week, with the PGA of America and the R&A announcing that they would avoid two courses owned by the president following the assault on the Capitol.
Twitter and Facebook have shut down Trump’s social media.
(Reporting by Tom Sims; Edited by Louise Heavens and Pravin Char)